Most people want to have their own business or business and be their own boss. They have all the comforts of luxury which the rich people and businessmen of the country and the world have. So if you also want to start your own business by creating your company. So today, we are telling you what formalities have to be completed to start a company. Along with this, how much fees are charged for getting a new company registration in India.
Nowadays, because most of the registration procedures go online, creating a new company is more convenient and easier than before. If you also want to get a private limited company registered to increase your business, for this you will need at least two and not more than 15 members. In fact, after the Modi government came to power, there has been a tremendous boom in the registration of new companies.
It takes at least 14 to 20 days for company registration
The registration time of a private limited company takes 14-20 days, but the time taken for registration depends on the submission of the relevant document by the customer and how soon it is approved by the government. Therefore, you should keep your company name unique and submit the related documents as soon as the registration process starts, so that the company does not take much time to get registered. Businesses can submit the registration form of the company both online and offline.
Maximum 200 share holders in the company
A minimum of 2 people are required to open a private limited company. A private limited can have at least two directors and a maximum of 15 directors. It can have at least 2 share holders, while the Ministry of Corporate Affairs (MCA) allows you to hold at most 200 share holders.
Ability to become a director of the company
To become a director of a private limited company, a person must be at least 18 years of age or older, while no eligibility rules are fixed. Therefore even an ordinary person can become the director of a company. Apart from this, there is no compulsion like domicile and citizenship to become a director. Therefore, despite being a foreign national, a person can become a director of a private limited company in India.
Capital to start the company
If you are going to start a private limited company, that amount can be anything in the form of capital money. However, to start a company, it is mandatory for the government to give at least 1 lakh rupees as a fee. These money are to be paid during the registration of the company as Authorized Capital Fee. At the same time, it is not necessary for you to give any proof related to capital investment while registering the company.
Office is necessary to open a company
A place is required to start a company in India, from where the company operates and a new company is registered at the same address. This place can also be inside commercial, industrial and residential areas. So that from here the Ministry of Corporate Affairs (MCA) can correspond to you at this address.
Mandatory documents for registration
- At the time of registration of the company, all the proposed directors will have to provide proof of identity and address proof.
- It is also necessary for Indian citizens to have a PAN card in the registration of a new company.
- A certificate has to be given at the address at which the company is to be registered.
- For registration of the company, it is also mandatory to give a No Objection Certificate issued by the landlord.
- It is also necessary to give the identity certificate and correspondence certificate of the person in whose name it is to be registered.
- It is also necessary to present a certificate of the address at which the new company is to be registered.
Company registration process in India
To register a company, first of all, you have to fill the form INC-29 and submit the required document to the office of the Registrar of Companies. If the MCA accepts the name of the company proposed for Company Registration in India, it will issue the corporation. If he does not accept the name then you will have to give a new name.