Want to register your company but confused if it is beneficial for your business or not? Afraid to register your company because of tax laws in our country? You are looking for company registration in India, but you don’t have time to collect the documents?
Then this blog is for you.
Company registration can be complex and scary for entrepreneurs because of the lack of knowledge. There are a lot of objections and myths in our country about corporate laws and company registration. This leads to confusion and misunderstanding, which eventually leads to avoiding registration of the company.
If you are also an entrepreneur who’s afraid to make a decision about registering your company legally, then we are here for you. In this blog, we have busted some common myths about the process of company registration that troubles every business owner.
Company registration in India is a time-consuming process
No, it is not. The company registration process in our country is fast and efficient. We have a well-defined procedure that every company secretary has to follow. If you will ask a new company secretary who does not have any experience, then you might need some time. But company registration experts can process your request quickly.
The process needs a lot of original documents
The documents that are required to register your company are mentioned on the website of the Ministry of Corporate Affairs. Some companies ask for the original documents; which is also wrong? Please note sharing the original documents of your company can lead to fraudulent activities. Hence it is advisable to share your attested scanned copy of your documents. And only provide the documents that are listed on the MCA website.
Office location of the company
Another popular myth about company registration in India is You need a proper office location to register your company. You can always register your private limited company at a residential address. There is no need to rent an office in the name of your company to register it legally. If you have your own house, then you can register your company at that address.
One more popular myth that we are going to bust is; you need a specific company turnover after that you can register your company. This is again false. A new startup can also register their firm whenever they want. The restrictions are on the compulsory registrations; for example, a company with a turnover of more than 50 lakhs will have to register their firm compulsory. Hence there are no restrictions on company turnover amount to register any company.
Expensive legal teams
This is also very popular among startup business owners; after registration, you’ll have to hire an expensive legal team. This is another big myth that the maintenance cost of legal teams is too much. Your legal team is going to manage your accounting, tax filing, and legalities and you just have to pay them a fixed amount. There are a lot of corporate services companies that can help you with that. You just have you do your research.
The company registration team should be in your city or state
This is the online era; everything is happening online. All the businesses from all around the globe are operating online. Hence; you can hire a company registration expert from anywhere in the country. Make sure they understand the language you speak to avoid miscommunication. You will have to share your attested copies online and you’ll get the company registration certificate delivered to your address.
Registration Renewal Again and Again
No, this is completely wrong. Company registration is a one-time process. You don’t have to renew the registration of your company every year or ever. The company will be registered and functioning on the papers and in the database of MCA forever. Until the owners decide to close the company legally. There are some companies that trick the business owners to renew their registration every year or three years. Don’t fall into that trap of paying renewal fees again and again.
How The Corporate Hub is The Perfect Corporate Law Partner For You!!
The Corporate Hub is a team of expert chartered accountants and company secretaries. We are working with the top enterprises and leading startups from all over the globe. Our team knows how to handle each business and its requirements to serve you the best services.
Moreover; We understand the importance of time for every business owner. Hence; our process is completely online, so you don’t have to worry about visiting our office. You can send the attested copy of all the documents and we will start the registration process quickly.
Confused about the online process? You don’t know how to share documents online? Don’t worry we will guide you through that too. Our team works as a support system for our clients. For all of your problems; we will provide an easy solution.
And what’s the best about us?
We will handle all your compliance in the future. You will get all the corporate solutions like legal process, GST filing, income tax filing, PF ESIC, etc.
So, these were some big myths about the company registration process. We have tried to cover all the major myths and doubts related to company registration. If you still have some doubts or confusion, then you can always get in touch with our experts.
We are always available to our clients. Our team member will get in touch with you within 24 hours and we will our best to clear all your doubts and confusion. And yes, avoid paying double registration fees to frauds.