Company Registration: Know how the company is started? Here is the complete A to Z process of registration
Highlights
- To register a company, at least two and not more than 15 members will be required.
- It takes 14-20 days to register a Private Limited Company.
- At least 2 people are required to open a private limited company
Company Registration: The saying ‘by doing a job you will be a slave for life and doing business,’ this saying has been going on for years, but even then it is as true as it was today. This is the reason why most people wish to have a job or business of their own and be their own boss. They should have all the facilities of luxury, which are available to the rich people and businessmen of the country and the world.
In such a situation, if you also want to start your own business by forming your own company. So let us tell what are the formalities that have to be completed to start a company. Along with this, how much fee has to be paid for registering a new company.
First you have to register
Nowadays, with most of the registration process being done online, it is more convenient and easier to form a new company than before. If you also want to register a private limited company to increase your business, then for this you will need at least two and not more than 15 members.
Registration takes 14 to 20 days
Generally, it takes 14-20 days for the registration of a private limited company, but the time taken for registration depends on the submission of relevant documents by the customer and how soon it is approved by the government. Therefore, you should keep the name of your company unique and submit the documents related to it as soon as the registration process starts, so that the company does not take much time to get registered. Businessmen can submit the company’s registration form both online and offline.
Maximum 200 shareholders in the company
At least 2 people are required to open a private limited company. A Private Limited can have a minimum of two directors and a maximum of 15 directors. There can be a minimum of 2 shareholders in this, while you can have a maximum of 200 shareholders, which is allowed by the Ministry of Corporate Affairs (MCA).
Eligibility to become a director of the company
Generally, to become a director of a private limited company, a person must be at least 18 years of age or more, while there is no eligibility rule. Therefore an ordinary person can also become a director of a company. Apart from this, there is no compulsion like residence and citizenship to become a director. Therefore, a person can become a director of a private limited company in India despite being a foreign national.
Capital to start company
If you are going to start a private limited company, then the amount as capital money can be anything. However, to start a company, it is mandatory to pay at least Rs 1 lakh as shares to the government as fees. This money is to be paid during the registration of the company as Authorized Capital Fee. At the same time, it is not necessary for you to provide any proof related to capital investment while registering the company.
Office required to open a company
To start a company in India a place is required from where the company operates and the new company is also registered at the same address. This space can also be inside commercial, industrial and residential areas. So that from here the Ministry of Corporate Affairs (MCA) can correspond with you at this address.
Mandatory documents for registration
- While registering the company, all the proposed directors will have to provide the identity card and address proof.
- It is also necessary for Indian citizens to have a PAN card in the registration of a new company.
- The proof of address at which the company is to be registered has to be given.
- For the registration of the company, it is also mandatory to give a no objection certificate issued by the landlord.
- The identity proof and correspondence certificate of the person in whose name the registration is to be done is also necessary.
- It is also necessary to present the address proof of the address at which the new company is to be registered.
Company registration process and fees
To register a company, first of all, you have to fill Form INC-29 and submit it to the office of Registrar of Companies along with necessary documents. If the name of the company proposed for registration is accepted by the MCA, it will issue the incorporation. If he doesn’t accept the name then you have to give a new one.
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