Register A Company In India — Online Services for Startups and Small Businessesby Aanshika Singh Marketing & Bussiness Services
Register a company online is the process of registering a business. Registering your business online is easy, quick, and hassle-free with our online service. We’ve got you covered for everything from starting a new business to selling your existing one.
Register a company is the best way to protect yourself in case of an unfortunate incident or some other form of financial trouble.
The Indian startup ecosystem is booming. With huge potential, the country is emerging as one of the most favourable locations for startups to grow and scale. However, with so many players and so many nuances in the sector, it can be overwhelming for those who are new to it.
Recognizing the need to streamline the process of starting a business in India, the government of the country has launched a number of initiatives to help new businesses register and get operating. This article lists the 5 biggest steps you need to take to register a company in India as a startup or small business and get started with operating your company.
Register a Company In India — The Basics
It’s important to put yourself in the shoes of a new entrepreneur in India. You’ve got a great idea, you’re ready to implement it, and now you need to set up a company to operate your business. Before you jump right in and create your own company, there are a few essential things you’ll want to ensure are in place. There are no setup costs and no special qualifications needed to set up a company in India.
However, there are a few key steps you’ll want to follow in order to succeed. First, you’ll need to identify what type of company you’re looking to set up. This will determine which type of legal entity you’ll choose to register. There are 3 main types of companies a business can register under in India: Partnership, trust, and company Ltd.
Get Registered with E- incorporation
Register a company with an online registrar. The registration process for a company has changed, and only online registrars are allowed. As a startup, you’ll want to register your company as a “sole proprietorship.” This is a typical business setup where you are the only person named as the owner of the business.
Register with the Companies Registry
After registering your company through an online registrar, you’ll want to register with the Companies Registry. This is the government department that maintains all company records. You can only register a company with the Ministry of Corporate Affairs (MCA). Companies can be registered under the companies and companies Act, or the Companies Act. Mostly, the only relevant difference is that the Companies Act is used in the case of foreign companies.
Establish a Bank Account for your Company
If you want to do business, you’ll need to have an account in your company’s name. If you don’t already have a company bank account, you’ll need to open one in your company’s name. Your company bank account will be where all of your company’s money will be deposited. This is where you’ll put your payroll checks and make deposits into your business’s bank account.
Typically, most companies will already have a bank account registered in their name, but if not, you’ll want to open one in your company’s name. Most banks allow you to open an account with a company name and then later change the name to “John Smith & Co. Ltd.”
The setup process for setting up a company in India is not difficult, but it does require a lot of planning and execution. That said, it’s important to remember that the setup process is meant to protect the interests of both the investor and the company. If you’re thinking about forming a company in the country, you’ll want to make sure you follow these guidelines to a tee. Now that you have the basics down, you’re ready to register a company in India and get started on your new business venture.
Created on Apr 30th 2022 02:45. Viewed 103 times.