Company Registration

Sai Enterprises Bhopal helps you to incorporate the establishment of a new company. The corporation may be a company, a non-profit organization, a start-up, a micro small or medium scale business. MCA manages corporate affairs in India through the Companies Act, 1956, 2013 and other linked Acts, Bills, and Rules. The Ministry is mainly involved with the administration of the Companies Act 2013. Along with this it is also engaged in Companies Act 1956 and the Limited Liability Partnership Act, 2008. It is necessary to choose your company structure carefully as your Income Tax Returns will depend on it. While enrolling your enterprise, remember that every company structure has different levels of compliances that require to be met with. For example, a sole proprietor has to register only an income tax return. Though, a company has to register an income tax return along with annual returns with the registrar of companies.
A company's books of accounts are to be mandatorily audited all year. Remaining by certain legal compliances needs spending money on auditors, accountants and tax filing experts. Hence, it is necessary to choose the right company structure when considering company registration. An entrepreneur must have a fair idea of the kind of legal compliances he or she is ready to deal with. While some company structures are nearly investor-friendly than others, investors will always favor a verified and legal company structure.

Why there is need to register a company?

  • Getting Loans on the name of the company to invest in a different company
  • Separate legal entity is also there
  • Liabilities of directors are limited, by which they will not liable personally for company affairs.
  • Director of the Company can get tax benefits
  • From the time of its establishment the company has the power to take, hold and dispose of the property.
  • To build goodwill of your brand
  • You can reach globally with company body structure
  • To establish a platform to deal with great industries, suppliers, vendors, and customers.
  • Company can claim to others with its own or can be sued by anyone, without the personal interest of Entrepreneur
  • You can distinguish yourself from others by entering into the corporate environment.
  • You can designate money from the general public to invest in Company.

Types of company structure

  • Private limited company A private limited company is a separate entity. The liability of the members of a Private Limited Company is limited to the number of shares individually owned by them and the shares of the company cannot be publically traded.
  • Section 8 company Section 8 Company is listed under Section 8 of the Companies Act, 2013. It has been authorized for expanding commerce, art, science, education, research, social welfare, religion, etc protection of the environment if any, or other income is used for advertising only the objects of the company and no profit is paid to its members. Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit objectives.
  • One person company (opc) OPC is a separate legal entity from its members, gives limited liability security to its shareholders, has a flow of business and is simple to incorporate. One person company is similar to the private limited company but it only needs 1 single person.
  • Limited liability partnership In the LLP partnership, every partner holds limited liabilities. It, hence, can exhibit components of partnerships and corporations. In an LLP, each partner is not accountable or responsible for another partner's misconduct or carelessness.
  • Nbfc company Nidhi Company is a kind of Non-Banking Financial Company (NBFC). It is determined to borrow and give money to its members. It implants the habit of savings among its members and acts on the principle of mutual profit.

Eligibility to register in a company

  • Minimum 2 Person A company can be enrolled in India, by at least 2 persons, who must act as the directors or shareholders of the company. The highest number of shareholders is 200 and the company can have up to 15 directors.
  • Resident Director One director of the company needs to be a resident in India. A person is assumed to be resident if he or she stays in India for at least 182 days during the leading fiscal year irrespective of their citizenship.
  • Capital Requirement Invest as per the necessity of your business, and there is no least capital requirement as such to be kept in the company. However, the government fee on company registration is measured on the capital
  • Unique Name of Company The proposed name of the company must not match any existing company or LLP. Moreover, you must verify the trademark registry to ensure that the name does not same with any registered or applied trademark in India.

Benefits

Registering a company offers many advantages. A registered company makes it genuine and enhances the authenticity of your business.
  • Legal Identity or recognition of the company.
  • Numerous Tax Benefits.
  • Get investment or funding for your company.
  • Your liability as a person is limited.
  • Increase brand image and developed trust factor.
  • Protection from personal liability and shields from other risks and losses.
  • Gets bank credits and good investment from regular investors with ease.
  • Gives liability protection to preserve your company's assets.
  • More comprehensive capital contribution and higher stability.

Steps to obtain company registration

Company Registration in India will promote the progress of start-ups and give an extra edge over those who have not registered. The Ministry of Corporate Affairs oversees the company registration steps with rules and regulations framed in accordance with the law.
  • Step 1: Application for Digital Signature Certificate.
  • Step 2: Apply for the Director Identification Number.
  • Step 3: Application for the name availability.
  • Step 4: Filing of the Moa and AOA to enroll and in some companies like Private Limited Company.
  • Step 5: Apply for the PAN and TAN of the company.
  • Step 6: Issued certification of incorporation by ROC with PAN and TAN.
  • Step 7: Starting a current bank account on the company name.