Introduction
Company means “a Company that is incorporated under the Companies Act 2013 or under any previous company law”. Registration is a procedure that is necessary to apply in order to register. Here we will be discussing about Company Registration. It is simply a process where the details are recorded in the official list and a legal recognition is given to the body corporate under the Company Law.. Company Registration is done through MCA Portal i.e. The Ministry of Corporate Affairs. It is the government platform where partnership firm, sole proprietorship and companies like private limited companies, public limited companies, one person company (OPC) along with limited liability partnerships (LLP) are registered. The Registrar of Companies (ROC) plays an important role as every company that is registered needs to obtain approval of the ROC. The ROC provides an Incorporation Certificate to the Company which works as an evidence of the company being registered under the law.
You must have heard of Google India Pvt. Limited, Walmart. These are the companies that are registered legally on MCA. Company Registration in India has now been a very known process that provides various benefits.
With modernization taking the head in the world, we can observe everything is available to us through online mode. Similarly, now the Company Registration process can be easily done Online. Online Company Registration Process saves time and effort of an individual and helps every task to be done on call. To lessen your burden, we are here to help you in the Company Registration process. Feel free to consult EAdvisors regarding Company Registration details.
You must be thinking that why Company Registration has become necessary. To know why it is so, continue reading the article.
Why Opt for Company Registration in Delhi?
- Registering a company gives the privilege of separate legal existence as well as identity
- Companies that are registered are eligible to access funds
- Increases borrowing capacity
- Registration gives liability protection to preserve the company’s assets
- Increase Brand Image and develop the trust factor
- Act as a legal identity or recognition of the company
- Liability of the persons in the company stays limited to the extent of contribution made by them
- Tax benefits can be enjoyed by the Directors of the Company
There are many companies providing online Company Registration in Pitampura, Company Registration in Netaji Subhash Place, Company Registration in Kohat Enclave. We, EAdvisors Infotech LLP is Netaji Subhas Place (NSP) based company. So, if you live nearby then feel free to visit and opt for our Company Registration Services. However, if you live faraway then we can provide you online registration process for incorporating your company.
Now, let us move forward with learning the documents required for Incorporation of Company
Documents required for Incorporation of Company
- PAN and Aadhaar Card
- Identity Proof
- Photographs of all Shareholders and Directors
- Proof of the Registered Office
- Business Address Proof
To decide a company’s name is also a task that is a tricky process that requires expert suggestions as well. To make it an easy and hassle-free process, consult EAdvisors. Deciding a company’s name requires lots of efforts as it requires: –
- Finding a Unique name
- Business Activity
- Name Suffix
To know various types of business structures let us step forward.
Types of Business Structure
- Private Limited Company
It is registered under the Companies Act, 2013. It is a type of Company designed for small business enterprises where the liability of the members are limited to the amount of shares held by them. However, the shares of the private limited company are not allowed to be traded in public. A Private Limited Company can be incorporated with a minimum of 2 members and maximum of 200 as the provision of the Companies Act 2013
In my opinion, incorporating a Private Limited Company is the best decision you can make to start your business. Private Limited Company Advantages are as follows:-
- Separate Legal Entity
- Own Property
- High borrowing capacity
- Angel investors show interest in private limited companies
- One Person Company
It is registered under the Companies Act, 2013. It is a company formed with an individual as a member. As per Section 2(62) of the Companies Act 2013, a company can be formed with just 1 Director and 1 member. One Person Company is a company in which compliances requirement are lesser than that of a Private Limited Company. Benefits under One Person Company Registration are:-
- Separate Legal Entity
- Easy to obtain funds
- Less Compliances involved
- Easy Incorporation as it involves only one member
- Easy to manage the business as only a single person involved
- Perpetual Succession as after death of the owner, the nominee shall be holding the business
- Limited Liability Partnership
It is registered under the Limited Liability Partnership Act 2008. It is a company that is a combination of both, a company as well as that of a partnership firm. It allows protection to businesses as the liability is limited. The main advantage of LLP is that the liability of the owner stays limited which protects the company’s assets.
- Easy to start and manage
- Low Cost of Limited Liability Partnership Registration
- Not liable to pay tax on Income
- Partnership firm
It is registered under the Indian Partnership Act 1932. Where you think there is a need of someone else to run a business then a partnership firm is preferred. Starting from the business profits to the business losses, the partners are equally liable. Starting with a partnership firm also provides numerous benefits, namely: –
- Less paperwork involved
- Partners are equally allowed to earn profits
- Proprietorship firm
No such act is there where registration is done. It is considered as the simplest form of business structure that required very less compliances. Sole proprietorship firm benefits are as follows:-
- Not huge amount is required to kick start the business
- Sole Proprietorship Registration fees is minimal
- All profits shall be of the owner
- No requirement to take suggestions from anyone else as the owner himself/herself is the controller and decision maker.
However, every business structure has its own drawbacks as well which must not be ignored before taking the final decision. To know all about the Companies, and its benefits and its drawbacks, you can consult Company Registration Experts at EAdvisors.
