A government of India has recently explained us about the registration process for a legal entity. This starts up India registration process is important for business and various other companies. The various slogans are set to explain this revolutionary idea in front of every small or large scale companies. Private company’s registration is governed under the Act, 2013 and the Companies Incorporation Rules, 2014.
Some requirements are set for registering private limited companies that are:
- Minimum two shareholders and two directors are required for the registration process.
- A normal person can play a role of both director and shareholder, but a corporate legal entity can access by a shareholder.
- Registrars of Companies i.e. ROC are allocated under Section 609 of the Companies Act enveloping different States and Union Territories.
The various steps are regarded as registration procedure:
Step1: Director Identification Number (DIN) is required: It is the starting process of registration which is required by all companies. The director of a company has to apply for DIN number which is based on the amendment act of 2006. For DIN number one has to fill the eform DIN- 1. For this one has to visit the official MCA website. Then follow the given steps.
- Register your company on MCA i.e. Ministry of current affairs. Create the login id and fill DIN-1 Form first, now upload the eForm on MCA website. For this one has to pay applicable fees.
- After generation of DIN-1, the director should intimate the company about using DIN-2 by using eForm.
- Now after completion of the second eform start the process of DIN-3 eform.
Step 2: Digital Signature Certificate (DSC) is required: DSC should be approved by the controller of certification agencies (CCA). Any other certification will not be applicable or are referred as illegal. Some companies can acquire the digital signature certificates from various agencies that are listed below such as TCS, IDBRT, MTNL, SAFESCRYPT, NIC, nCODE Solutions. For this certificate, the company has to go through the procedure of pay details.
Step 3: Create an account on MCA Portal for New user registration: to create an account on MCA no charges are required, it is free of cost. One can easily fill the eform. The process of online transaction and online fee submission is also possible for registration of business or company.
Step 4: Apply for the company to be registered: For registering the name and address of company one can easily follow the process given on eform. Follow the given steps.
- Firstly fill the Form -1 one can easily go through it by filling step by step instruction.
- Now go for Form-18 which is for new submission of a company.
- Form-32, this is for an appointment of new directors and manager or secretary.
Startup an idea: There are some official eligible schemes which make the process of start up more easy and simple. Start up definition in India can be explained with the help of following steps.
The Legal entity and types are identified as a startup process.
- 1. The companies running from previous five years from the date of assimilation can also be considered as start up.
- It is important that the turnover of any business or company should not exceed up to 25 crores in previous five financial years.
- The aim of a company should be improvement, development, and deployment.
For a startup, various points are to be remembered. These are the corporation entities which are based on amendment acts.
- The entity for a company or business is registered under Companies Act, 2013.
- These all schemes are explained under registered section 59 of Partnership Act, 1932, as a partnership firm.
- The entities are also registered under Limited Liability Partnership Act, 2002, as a limited liability partnership.
Steps required starting up in India:
These steps are required to register your startup in India.
- Registration is required for start up in India by filling online forms on MAC website.
- Documents must be uploaded with the help of Pdf files.
- Recommendation letter can be helpful
- Certification should be registered under DSC
- DIN number is required for start-up process
Legal requirements: some legal steps are required for the registration process. These are important to follow the policies of legal entities. Some new schemes are also started by Government of India to make it more easy and useful. The documentation process comes under it. The certifications from online sites are based on a priority basis. These legal requirements also include the tax information and various changes in previous amendments. According to law, these legal policies are important to be followed by each director of a company. Whether it is private or government sectors the legal policies are necessary in both cases. You can easily get the eform from the official website of MAC i.e. Ministry of Corporate Affairs.
Some important points which come under it are:
- Director’s Identification Number is necessary, this you will get in 1 day from the government official sites. You have to pay Rs 100 for it.
- Certification of a digital signature is required this can take 6-7 days for completion. The charges require for this process is between RS 400-2,650.
- One has to go through the process of ROC this documentation process will take 2-3 days, the fee charges are Rs 500.
- Memorandum and articles of association vetted and printed do not require any charges. This process takes approximately 6 months for name approval.
- Stamp and company documents are verified either from superintendents or from authorized bank is required. The charges for this process are different for every country. It requires 1 day for completion.
- Memorandum and articles should be signed by at least two subscribers. No charges are required and it will take 1 day to complete this process.
- Incorporate certificate is necessary. The charges depend upon authorized capitals Rs 4,000 are required for companies. This is a long process of 3-7 days.
- Now make a seal which will takes 1 day and price requirement is Rs 350.
- After this long procedure, you will get the PAN number. This will take your 15 days.
- TAN Number is necessary for Tax. So one has to wait for 15 days for this procedure.
- Registrations of VAT with sale tax officer are required for legal requirements. 10-15 days will be a normal time period for this process. The charges require for this are Rs 5000 for registration and Rs100 for stamp duty.
- Registration of employee PF within an organization. No charges required for this purpose.
- Medical assurance also comes under it.
- Filling of form for government approval before RBI/FIPB in a case of NRIs and foreigners.