’’Failure is simply the opportunity to begin again, this time more intelligently.
Registration or incorporation is the first and foremost step in order to start up a business to run it legally. Registering a company is not an easy job and there exist several rules and regulations that one need to follow and adhere to in order to get registered in official records of Ministry of Corporate affairs. With advancement in technology, the registration process for companies has become online now and people do not need to visit brick and mortal offices for settling the incorporation process. All companies in India fall under company’s act of 1956; this allows the Indian Government to regulate almost every aspect of the business from corporation to liquidation.
Steps to register a company in India
The registration of the company name is the most important step for registering a company. However, before you go for registration of your company it gets important that each director of the company whether public or private gets their identification number.DIN is a unique number that is provided by Ministry of corporate affairs. The DIN number is quite crucial and helps identify the present as well as intended director of the corporation.
To avail DIN number one needs to fill DIN-1 that is available on the website of Ministry of Corporate Affairs. The procedure is quite simple you first need to register yourself on the MCA website and after that DIN-1 form can be availed, filled and submitted for further process.
Once the Director Identification Number has been received, it becomes important to apply for digital signature certificate. Digital signature is considered extremely important and it is used as a valid signature on the documents that are submitted to any competent authority via electronically. DSC is important for online transactions and MCA always requires DSC for electronic transactions. Apart from MCA, one can also avail Digital signature Certificates with other Govt. approved agencies like NIC, MTNL and TCS.
This is the most important step when it comes to registration of a company. Once you have received DIN and DSC certificate, and have thought of a perfect name for your company now you are fully ready to incorporate the company’s name with Registrar of companies. The registration process includes registering the address of the office, appointment of directors as well as the allotment of share among directors and profit sharing ratios.
- First you require to fill form 1-A for a new registration with Registrar of companies of your area. You can fill suitable 4/5 names for your company in case of non-availability of one name or avoid matching of names with some other company.
- The form is quite specific and you need to mention the details of directors as well as you will also need to list objectives of the company and disclose the amount of investment in the company. Once, all terms and conditions are satisfied, Registrar of Companies will intimate you with the help of notice that your company has been successfully registered and you are eligible to carry out business on legal terms.
- Once the company has been incorporated, it gets important that you prepare the Memorandum as well as article of association of the company. These documents contain the objectives and day to day working details of the company. Both the documents need to be duly stamped by the Registrar of companies and for this purpose you can file them online for proper vetting.
Going for the registration of a company can prove quite an arduous task and it gets important that you have the required documents at your disposal for a smooth process. Documents like Director Identification Number, digital signature certificate, form 1, 18 and 32 are essential and without such documents no process is possible.
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