5 things that you need to know about Company registration

How many types of company registrations in India are available?

Private Limited Company
• OPC Company
• Limited Liability Partnership
• Partnership firm Registration
• Sole Proprietorship
• Public Limited Company
• Sec 8 – Non-Profit Company

Why Choose Company Registration in India?

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Registering a company offers many benefits.

A registered company increases the authenticity of your business. It helps your business –
• Shields from personal liability and protects from other risks and losses.
• Attracts more customers
• Procures bank credits and good investment from reliable investors with ease.
• Offers liability protection to protect your company’s assets
• Greater capital contribution and greater stability
• Increases the potential to grow big and expand
You will also get Zero Balance Current Account – Powered by DBS Bank *
Private Limited Company Registration Benefits
A large number of benefits, when you go for Private Limited Company Registration in India, are as follows:
• Protection Of Personal Assets of The Partners:
In the case of a Private Limited Company’s shareholders, they tend to have limited liability.
So if you are a shareholder, you will be considered liable to pay the company’s liability. But only to the limit of your contribution to the company.
Sai Ngo & Business Consultancy’s experts in company registration experts can help you in better understanding the “Private limited company registration process in India”.
• A Private Limited Company as Separate Legal Entity in the Eyes Of The Law:
In other words, the partners/owners of a PLC, are a completely different entity according to the Indian constitution.
An indirect company will be upheld for efficient management of its debtors, creditors, assets, and liabilities.
• You Can Raise Capital Easily:
A private limited company, which is registered in India, must meet a certain number of compliance requirements.
This form of company structure is largely preferred by entrepreneurs.
Because it helps them to raise the necessary funds via equity. It also allows them to expand and limits their personal liability.
• It Comes With The Benefit Of Continuous Existence:
It has the most important benefit, which is known as “Perpetual Succession”.
It means that its existence will be continuous until it is legally dissolved.
Due to it being a separate legal entity, it remains unaffected by the departure or death of any member. Even though there may be a change in existence, it will continue its existence.

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You will receive a “Private limited company registration certificate”,

upon completion of the process.
Note: While going for Private Limited Company Registration online, you need to make sure that your preferred company name falls under the umbrella of “Private limited company registration name availability” criteria.http://www.mca.gov.in/MinistryV2/incorporation_company.html
Comparative List of Different Types of Business Structures in India

Company type	Ideal for	Tax advantages	Legal compliances
Limited Liability Partnership	Service-oriented businesses or businesses that have low investment needs	Benefit on depreciation	Business tax returns to be filed, ROC returns to be filed
One Person Company	Sole owners looking to limit their liability	Tax holiday for first 3 years under Startup India Higher benefits on depreciation No tax on dividend distribution	Business returns to be filed Limited ROC compliance
Private Limited Company	Businesses that have a high turnover	Tax holiday for first 3 years under Startup India Higher benefits on depreciation	Business tax returns to be filed ROC returns to be filed An audit is mandatory
Public Limited Company	Businesses with a high turnover	Tax exemptions under	Business tax returns to be filed. Mandatory Audits

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Checklist for Registering a Company in India

As defined under the Companies Act 2013, we have to ensure the requirements of the checklist
Minimum Two Directors:
A private limited company must have at least two directors and at most, there can be 15 directors. Among all the directors in the business, at least one must be a resident of India.
Unique Name
The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.https://ipindiaonline.gov.in/eregister/eregister.aspx

You can check the availability of your company name on http://www.mca.gov.in/mcafoportal/showCheckCompanyName.do
Minimum Capital Contribution:
There is no minimum capital amount for a company. A company should have an authorized capital of at least Rs. 1 lakh.
Registered Office:
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as a NOC is obtained from the landlord

How to Register Company Online – A detailed Registration process

Company Registration in India will boost the progress of startups and provide an additional edge over those who have not registered. The Ministry of Corporate Affairs governs the company registration process with rules and regulations framed following the law.http://www.mca.gov.in/MinistryV2/homepage.html

•Step 1: Application for DSC (Digital Signature Certificate).

• Step 2: Apply for the DIN (Director Identification Number)

• Step 3: Application for the name availability.

• Step 4: Filing of the EMoa and eAoA to register a private limited company

• Step 5: Apply for the PAN and TAN of the company

•Step 6: Issued certificate of incorporation by RoC with PAN and TAN

• Step 7: Opening a current bank account on the company name

Search a company before Company Registration

One of the primary steps in Company Registration is to ensure that the company name has not already been taken by another legal entity. We can run a company name search to check the availability of the particular name in India against the MCA and trademark database.
We recommend the businesses to come up with three to four alternative names during the approval stage of Private Limited Company Registration. The Ministry of Corporate Affairs http://www.mca.gov.in/MinistryV2/homepage.html will be the final authority to approve the name based on the availability rules and regulations.
If you are disappointed that a preferred name is taken, do remember that the name of your company doesn’t have to be your brand name. However, if you’re going to trademark your brand name, also check if it has already been trademarked or not.

In India, Private Limited company registration cannot be done without proper identity and address proof. These documents will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.
Identity And Address Proof :

Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
• Scanned copy of Voter’s ID/Passport/Driver’s License
• Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
• Scanned passport-sized photograph specimen signature (blank document with signature [directors only])

For foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof

For foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof
For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of an electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/his consent to use the office as a registered office of the company should be submitted.
• Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
• Scanned copy of Notarized rental agreement in English
• Scanned copy of No-objection certificate from the property owner
• Scanned copy of sale deed/property deed in English (in case of owned property)

Note: Your registered office need not be a commercial space; it can be your residence too.

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How can we help in Registering your Company in India? Why us Sai Ngo & Business Consultancy

WHO WE ARE
We provide quick and affordable service to register a private limited company through 100% online process. Our services are trusted by more than a hundred businesses in all major cities of India.

Pvt Ltd Company Registration is highly preferred by startups.
Apart from this we Successfully delivered multiple projects for various clients across the globe operating in varied domains. SNBC has developed hands-on experience in various segments of industries including but not limited to Infrastructure, Microfinancing, Renewable Energy, Travel & Tourism, Packaging, Oil and Gas, Automotive, IT & ITeS etc.

DETAILS FOR  ENTITY COMPARISON GUIDE

TYPE	PVT	PROPRIETORSHIP	PARTNERSHIP	LLP	OPC
Member	2-200	Maximum 1	2-20	2- Unlimited	1
Legal Status of Entity	Considered as separate Legal entity	Not Considered as separate Legal entity	Not Considered as separate Legal entity	Considered as separate Legal entity	Considered as separate Legal entity
Members Liability	Limited to the extent of share capital	Unlimited Liability	Unlimited Liability	Liability of its members is limited	Limited to the extent of share capital
Registration	Registered Under MCA	Not Compulsory	Optional/ Can be Registered under partnership Act 1932	Registered Under MCA	Registered Under MCA and Companies Act 2013
Transferability Option	Can Be Transferred	Not Allowed	Not Allowed	Can Be Transferred
Taxation	30% of Profit Plus CESS and Surcharges applicable	As in Individual	30% of Firm profit	30% of Profit Plus CESS and Surcharges applicable	30% of Profit Plus CESS and Surcharges applicable
Annual Filings	Filed with the registrar of the company	Income Tax Returns with the Registrar of companies	Income Tax Returns with the Registrar of companies	Filed with the registrar of the company