If you wish to start a business or create a new company in India, you must first register with the Ministry of Corporate Affairs (MCA). It is not essential to register at the corporate office; it can be done from the convenience of one's own home. To start a company in India, get professional assistance.
Before registering it’s important to know that Private limited Company Registration is the most popular one and OPC registration is a newly introduced company registration type. In this article, we will understand important pointers to company formation in India.
1. Create a business plan and organizational structure.
This is the first and most fundamental step in company formation in India. Developing a business plan and company structure can aid in determining the company’s future direction and how its operations will be managed in the coming years. As a result, a business plan must be written to examine the various requirements for registering and growing the newly formed company.
A business plan has a direct impact on the company’s tax returns and legal structures.
For example, A OPC registration business owner, for example, only needs to file GST and income tax returns. A Private limited Company Registration, on the other hand, must file GST Registration and income tax returns, as well as complete periodic audits, and comply with a slew of other requirements.
2. Get DSC Certificate
DSC certificate is mandatory whether you are doing Private limited Company Registration, OPC registration, or any other type of company formation in India. You must first fill out an application for new company registration.
The DSC, also known as a Digital Signature Certificate, is a verifier that determines the trustworthiness of company software or documents. A physical signature is equivalent to a digital signature. Nonetheless, it serves as a security to prevent fraudulent documents by acting as a seal that checks a document’s authenticity.
The Ministry of Corporate Affairs (MCA) has issued some guidelines for obtaining a DSC certificate, including document verification through multiple certifying authorities.
3.Ascertaining Availability of Name:
4. Preparation for an AOA and an MOA.
An important step in company formation in India is to submit an application for an AOA and MOA. Articles of Association (AOA) and Memorandum of Association (MOA) are the legal frameworks that determine the legal power that a company can exercise, and they are commonly referred to as a company’s constitution.
The Ministry of Corporate Affairs (MCA) has provided forms INC-33 and INC-34 for filing MOA and AOA, respectively. Furthermore, new company registration takes about 7-9 days on average.
Following that, the company promoters must adhere to a number of post-incorporation policies in new company registration order to obtain the Udyog Aadhar.
This declaration, moreover states that 'All the necessities of the businesses Act and therefore the rules under that are complied with respect of and matters precedent and incidental to that. A statutory declaration by any one of the subsequent persons station that each one the necessities of the Act relating to Registration are punctually complied with:
1.Associate in Advocate of the Supreme Court or state Supreme Court.
2.Associate in professional or attorney is entitled to seem before a state supreme court.
3.A controller is engaged in the information of the corporate and additionally active in India.
4.Any person is called within the Articles of Association because of the Company's Director, Manager, or Secretary.