Startup Registration In India
A startup is an newly formed business organization which is created for the rapid development of a scalable business model. Startup business firms come up with new business ideas, products, and services.
How we help Startup Companies?
Types of companies you can start in India:
- One Person Company
One Person Company (OPC) was introduced in India by the companies Act, 2013. Actually, its a a new type of business, which allows Entrepreneurs to conduct business in the sole-proprietor form of business model in to make an entry into a Corporate Framework.
- Private Limited Company
Private Limited Companies are small business organizations with limited liabilities, restricted trade shares and continued existence.
- Limited Liability Partnership
Limited Liability Partnership (LLP) is a different type of business which carry the restricted liability and the flexibility of a general partnership. To start this type of business, you must take a firm decision about the long-term objects of your business in the initial period and a solid plan as to how you will develop it within 5 years.
WHAT IS DIGITAL SIGNATURE CERTIFICATE AND WHY IS IT REQUIRED FOR COMPANY INCORPORATION?
Digital Signature Certificate (DSC) as the name suggests it is a digital signature of an individual and it is required for filling the e-forms of company incorporation electronically to Ministry of Corporate Affairs.
HOW CAN WE SELECT A NAME OF COMPANY UNDER REGISTRATION?
Firstly we just need to find a unique name as prefix and promoters need to provide name of the proposed company along with significance of word. Secondly the name needs to include a word about the company business activity. Finally before selecting Names it will be advisable to check on Google, MCA Portal, MCA Guidelines and Trade Mark site the availability of Name.
WHAT ARE THE DOCUMENTS REQUIRED FOR COMPANY INCORPORATION?
Following are the documents required for company incorporation for each director/ shareholder
- Self attested PAN card copy.
- Four Photographs.
- Self attested copy of any one of the Identity Proof like Driving License, Passport, Voter ID & Aadhar Card
- Self attested copy of the Address Proof like Bank Pass Book / Bank Statement, Telephone Landline Bill, Mobile Bill & Electricity Bill
- Company Address proof any one of the Electricity Bill, Telephone Bill, Mobile Bill & Gas Bill, and Rent Agreement, (if rented) AND NOC for doing Business & for taking Registration.
WHAT IS MEMORANDUM OF ASSOCIATION & ARTICLE OF ASSOCIATION?
MOA & AOA of the company defines all the rules and regulations and the working flow of company. It also defines everything about the company’s objects, capital, identity, goals and working pattern. After the name of the company is select the Memorandum of Association and Articles of Association of the company is required to be drafted, the last page of the MOA and AOA is known as subscriber sheet which need to be filled in by the promoters in their own hand writing including their personal details and shareholding ratio.
WHO CAN BECOME A DIRECTOR OF A COMPANY?
The Director required to be above 18 years of age and must be a natural person. He may or may not be citizen or residence of India. We can say that even a foreign nationals can be Directors in Indian Private Limited Company.
WHAT ARE THE RESPONSIBILITIES OF A DIRECTOR?
The director has been entrusted with the responsibility of managing the company in the best efficient manner. The responsibility of a director depends upon the kind of directorship he holds in the company. For instance, an executive director or a managing director has greater responsibility than a non-executive director who might hold the directorship as an expert or consultant. A director is liable for misconduct or fraud or if found guilty of default.
WHAT IS DIN (DIRECTOR IDENTIFICATION NUMBER) AND WHY IT IS REQUIRED?
The Unique Number is required to allot to an Individual which remains valid for whole life of the individual and is required to become director of any company.
CAN A COMPANY OWNS PROPERTY IN ITS NAME?
A Company can own and enjoy property in its own name, neither the members are not owners of the company’s property and nor the members have insurable interest in the property of the company.