For registering a startup in India, you have to follow a few official steps to control the process. However, you do not have to make a trip to the corporate office for the completion of this procedure. But do it from the comfort of home as the process of registration has been made online for the last few years. If you want to run a new business in this country without engaging in legal hassles. You must complete the process mandatorily. The country has attracted a lot of entrepreneurs during the recent years and the success rate of all these businesses is extremely high.
Studying The Scenario
Studies reveal that the country is already brimming with over seven lakhs registered companies under the Companies Act of 1956. Primarily, the companies are categorized as private or public limited. While a private company can start its business operations as soon as it is incorporated. The public company cannot begin until it receives the business commencement certificate. Apart from this, the private company requires two board members while the private company requires about seven members.
Procedure of Registration
The first process you need to follow for registering as a company in this country is to obtain the identification number. According to the amendment that came about in 2006. It is compulsory for every director to obtain the DIN number through a form that needs to be filled. And its available in the official website of the ministry of corporate affairs. After the generation of this number, the director must intimate the company about the DIN and then the ROC or the Registrar of Corporates. The changes in DIN or any other update such as change in address or other detail are also to be intimated through a separate form. A company planning to register itself or facing obstacles during the procedure of registration can also contact the mergers and acquisitions lawyers to know the steps to follow during registration more vividly.
Obtaining The DSC
To secure the authenticity and the severity of the documents you file electronically. It is necessary to have a proper digital signature on them and is considered the safest method of document submission. However, this certificate should be obtained by those agencies appointed by the controller of the certification agencies or the CCA. You must never use the DSC of another company as it is considered false.
Creation of Account
It is necessary for the startup to have a registered user account on the portal of the ministry of corporate affairs for executing various transactions as a registered business user. The creation of this account is free of cost. All of you that need to do to register yourself in the portal of MCA. However, if you need assistance as a startup to commence your business, you can talk to the mergers and acquisitions law firms to ensure that you are on the safe side as far as the legal formalities are concerned.
Applying for The Company
Incorporating a name for the company is a necessary step in the procedure of registration. Apart from this, you have to register the address of the office. The notice for appointing the director, manager and the secretary. It also includes registration to pay for the qualification shares. The M&A law firms can guide you through the process of registering your startup in this country and the initiatives of the government also assist the companies when they commence their business. Following the steps of registration properly from the beginning to the end allow you to execute your business operations successfully. Every form of business is likely to have their advantages and disadvantages. But the company needs to focus on the present while keeping in the vicinity the plans for future.