When you plan to start your own company, company incorporation is the basic thing you will have to do. Successful business owners when venturing into a new business, then they always take experts advice and look for the help of specialists. They ask for advice on what services or products are best to promote or what marketing techniques or methods work best at boosting sales.
Any business person going into this venture needs the assistance of incorporation professionals to guide him or her through the process and guarantee that all aspects are covered since the incorporation of company in India or any other country can present complications of its own. However, the process of registration of company differs from one another. Here are a few pointers to consider when choosing a good company that offers company incorporation services.
Let’s learn the basic things about the incorporation of the company in India.
In India, a company is classified based on the following activities:
Business activities – A company can be classified based on its activities like manufacturing activity, service activity, non-profit making activity, etc.
Liabilities – It can be limited or unlimited.
Membership – It can be public-private or a government company.
Place of Registration – Indian or Foreign.
Based on the Control – Holding or subsidiary.
Private and Public Limited Company
There are two types of companies in India private limited company and public limited company. A private limited company in India is an organization that is enlisted under the Indian Companies Act, 2013, or any past Companies Act. A 'Public Company' is a restricted organization framed with least of 7 individuals and 3 Directors. There is no limitation for the maximum number of individuals in a Public Company.
For registering of a private company in India the concerned ministry – Ministry of Corporate Affairs (MCA) has made the procedure of consolidation by filling all the necessary forms on their online portal, which will guarantee the quick and simple procedure. Operations of public limited companies are dependent upon stringent compliance of the prohibitive arrangements of the Companies Act.
Procedure for the incorporation of the company in India
To register and set up a private company in India, one has to:
First, select the name of the company.
Apply for the Director’s Identification Number and Digital Signatures.
Apply for Draft Memorandum and Articles of Association.
Fill in the documents with the registrar.
Pay the Fees.
Get a Certificate of Incorporation.
Things to consider when hiring a company incorporation service provider
At first, you must look and examine the standard of service a registering business offers closely. You will have to ask for feedback from their clients. Select a company that is really interested in your venture and is eager to help you come up with a brilliant company structure. Never settle for a registering business that’s only after your money, which you will pay for documentation filling. Opt for a company that can aid you in furnishing effective, correct and complete documentation.
Secondly, seek expertise in a specific company incorporation industry while registering a business. This is really important because for the growth of the company as you will be able to learn from those who have already gone through the process and experienced highs and lows of the industry.
Finally, as expertise is important, it is still imperative that you just look for a registering business that is well-established. You will feel more secure when working with a company that has staying power and is able to roll on with the waves. You will be assured that you will get company incorporation assistance for long periods until your company becomes well-established.
Tecnova is one of the best business consulting firms in India that also offers company incorporation support services to its clients. It enables them to stay focused on revenue generation, while it takes cares of the rest of the services.
