Company registration in India

Top 7 Myths About Company registration in India

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. 

Company turnover

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.

Conclusion!!

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.

The Process of Company Registration in Gujarat - Detailed Guide

The Process of Company Registration in Gujarat – Detailed Guide

Confused about how to register a company in Gujarat? Searching for the company registration in Gujarat process? You are at the right place. This blog has all the details we need to know before you decide to register your business in Gujarat.

Gujarat is the business hub and topmost choice of some of the top companies in our country. From agricultural produces like groundnuts, cotton, sugarcane, and dates to industrial products like petrol and cement.

Minimum Requirement for Company Registration in Gujarat

PRIVATE LIMITED COMPANY :

  • A minimum of 2 Directors and a maximum of 15 and one of the directors should be a resident of India.
  • A minimum of 2 Shareholders are compulsory and a maximum of 200 Shareholders.
    Government Fees for company registration in Gujarat is lesser than non-corporate entities. It is to promote ease of doing business. The stamp duty fees will be based on the authorized capital of the company and other fees include fees for PAN TAN and DSC
  • A local address is required for the registered office.
  • Address proof along with the Identity proof of all the Directors.
  • PAN card is also required for all Indian nationals directors.

PUBLIC LIMITED COMPANY :

  • 3 Directors minimum and one of the directors must be an Indian resident.
  • The company requires a minimum of 7 shareholders and there is no limit on the maximum limit.
    Government Fees for company registration in Gujarat is lesser than non-corporate entities. It is to promote ease of doing business. The stamp duty fees will be based on the authorized capital of the company and other fees include fees for PAN TAN and DSC
  • A local address is required for a registered office
  • Address along with the Identity proof is compulsory for each director
  • PAN card is also compulsory for all Indian nationals directors of the company
  • DIN (Director Identification Number) for each of the Directors
  • DSC (Digital Signature Certificate) for each of the Directors and shareholders

Steps for Company Registration in Gujarat

Now comes the most important part; the process of registering a company in Gujarat. To help you understand in better ways we have divided the process into 5 simple steps. Let’s have a look at each step one by one:

Step 1: Collect the Digital Signature Certificate (DSC)

The company registration procedure in Gujarat is completely online. Hence the company that is going to register your business will require a digital signature certificate to incorporate the company.
For all the directors and the subscribers, It is compulsory to carry a valid DSC ( Class II or III). We are here to provide the DSC in just 24 hours. The process of generating the DSC has already been included in our package. If all the directors of the company already possess the DSC then this step can be skipped.

Step 2: The application process for DIN (Director Identification Number)

Every director of a company must have a DIN and if he or she doesn’t have one then the application for DIN will be required. A director can use one DIN to become the director in any number of companies. There are two ways to obtain the DIN either by filing the DIR-3 or directly via the SPICe during the incorporation time.

Step 3: Approval of the Name Application

The name approval process can be done in two ways either by using the Name Approval form or it can be done together with SPICe (INC-32) during the time of incorporation of the company. There are times when the name gets rejected in the first chance then the company has to file for a resubmission or file the SPICe form again. The whole process needs 2-3 days to complete.

Please note that the DIN and DSC are not mandatory to file the Name Approval form. This process is for the reservation of name. It only needs an MCA Account.

Step 4: Fill SPICe (INC-32) Form

Complete the application of INC-32 and get it digitally attested from a Company Secretary or a Chartered Account or an in practice Advocate.

Step 5: Fill e-MoA (INC-33) and e-AoA (INC-34)

Both e-MoA (INC-33) and e-AoA (INC-34) forms are now available online at the MCA portal. These two forms along with SPICe ( INC-32) are required to be submitted. These forms are required a digital signature by the MOA and AOA subscriber.
After that, the next step is to check if all the details are truly filled and all the required documents are verified and attached.  The registrar can issue the certificate of Incorporation along with that the CIN (Corporate Identity Number) will be allotted to the company.

It’s Time To Register Your Company

Now that you are well aware of the things you need to know about the company registration in Gujarat. It’s time to take the decision. Start the process to register your business today.

Need company registration in Ahmedabad? We are an expert team with amazing experience in managing businesses from all types of industries. From real estate to digital marketing and IT firm we know what it takes to register a company smoothly and seamlessly in Ahmedabad Gujrat.

Types Of Business Organisations In India

Types Of Business Organizations In India

Whenever we plan to start our own startup, one of the biggest confusion or challenges which we come across is; what type of business organization can you register your firm in?

If you are also searching for the answer to this question then you are in the right place.
After the launch of Atama Nirbhar Bharat; Startup culture is booming in our country. We all are excited and enthusiastic to start our own company and to try that special idea which we know will work definitely.
Hence; to support you throughout the process we are here but first, you need to understand what exactly are the different types of organizations as per the corporate law of our country.

We will talk about the two important topics in this blog:

What are the types of business organizations?
How to select the right business organization?

If you are someone who doesn’t like to read much then we have a video for you. Watch the video to understand the entire concept smoothly:

What are the types of business organizations in India:

Proprietorship

A single person will handle the entire business process; management, operations, decision making, profit, and loss. This type of business is easy and quick to set up and it requires a less financial investment to register. The single owner of the company will be liable for everything and it gives creditors the authority to go after the personal assets of the owner.
Looking for Proprietorship Registration? Get In Touch With Us.

Partnership Firm

A company registration process requires a minimum of 2 partners and a maximum of 100. The partners of the firm can decide the terms of the partnership like a share of profit and loss. The company will have its own identity; a PAN card will be generated on the name of the company.
Want To Register Your Partnership Firm? We are here.

Corporation

A business firm that has its own legal identity other than its owners. The ownership of the company mostly decided by the shares a person holds in the company. The company will have its owners along with a board of directors.
There are 2 types of corporate companies:
Private Limited Company
Public Limited Company
Let’s have a look at each one of them.

Private Limited Company:

A business entity that has a small group of people as its owners. A private limited company will be registered for the pre-defined objects. The company will have owners who are called shareholders. A company which has the aspiration of higher growth opts for private limited registration.
Let’s Register Your Private Limited Company Today!

Public Limited Company:

In very simple terms; a public limited company can be defined as a separate legal entity that trades its shares on the stock exchange. The stocks are then available for the public to buy. A public limited company has to provide its financial position and statistics to the public and maintain transparency with the shareholders.
We specialize in Public Limited Company Registration.

4. OPC (One Person Company)

An OPC is a hybrid of proprietorship and Corporation. If a person wants to be the sole owner of the company but needs corporate structure then OPC is the best option. An OPC has its own legal identity hence the owner will not be liable to any creditors.

Register your OPC with us today.

5. Limited Liability Partners (LLP)

In LLP; The liability of each partner is limited to the amount they have invested in the business. LLPs are most popularly adopted by professional businesses like wealth managers, law firms, and accounting firms.

Want to register your LLP? We are here for you.

How to select the right business organization?

Now that you have a basic understanding of types of business organizations; it’s time to select the right one for you. It is very important to decide on the right organization as the future of your business depends on it.

Consider the following factors before finalizing your business organization:

The requirements of the paperwork along with the costs and expenditure

The first thing to check is the requirements of the paperwork. Take a list of all the documents required for the registration and make sure you have all those available.

Tax Implications

Each business organization has a different taxation process. It doesn’t matter if your company will be small or large you will be required to pay the taxes as per the laws of that organization type.

Transferability of the business in the future

We always want our kids to take over our company. It is important to make sure that the organization type you are selecting will not die with you. Clear the transferability clauses in advance.

Liability protections

We can never think about losing our hard-earned money or property to a failed business plan. So make sure that you are clear of the liabilities of your company and the company has a separate legal identity.
These were just a few factors which we mentioned here, there are a lot of other factors which matter a lot when it comes to selecting the right business organization for your company.

Over To You!!

If you are still thinking about the type of business organizations and which one is the most suitable for your company then we are here for your assistance. Get in touch with us today and we will assist you throughout the process.
Corporate Hub has the perfect team of experienced professionals who can provide a 360-degree solution to your company. Contact us today for any query and we will be happy to help!