How to register a company?

Summary: Are you planning to register your company? Since, you are stepping towards fulfilling your dream, make sure you go through all the nuances and stay well-informed throughout the entire process.

Understanding the process

At first, you need to get a DIN (Director Identification Number), and for this, you have to fill an e-form. Then acquire your DSC (Digital Signature Certificate), registering the similar on the portal. You will need approval from the ministry for the name of your company. Once approved, fill the incorporation form and register your company. Regardless of your company type, you have to provide your PAN card as identity proof. You can use your utility bill as your address proof.

Some facts

Once it used to take five days or more for registering a company, but fortunately it has turned into a one-day affair.

Registering a partnership company has benefits as the partner is free to file a case against other partners or even against the firm.

A private limited company would be the best choice for a startup that is seeking external funds. PLCs can easily issue equity shares of the received funding.

The name plays an important role

Consider a name for your business that can be remembered and identified quite easily. It will help you promote your service or product, reaching your target audience. Moreover, the name of the company must be unique without resembling any existing company name. Avoid including words or phrases that are already registered. It may take up to two weeks to get the company name approved.

Hire the best professional service

There are so many incorporate business registration services that offer the best guidance. You must take your time and research to hire the best professional for this job. Visit the website of a company that provides this service, read the customer's feedback to know what you can expect, or whether you should move on to another option.

Note

A U.S citizen living outside is still subject to U.S. income tax, irrespective of where he or she lives. Though, the person may qualify for some income exclusions as well as foreign income tax credits. If you want to know more, type U.S. citizens living abroad taxes on Google, and explore the nuances.

It is better to seek professional guidance. There are firms or even individual advisors who provide services regarding tax preparation for resident aliens living outside the United States.