The process of company registration in India typically involves several steps, such as obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN), filing an application for company name approval, preparing and filing the company’s Articles of Association and Memorandum of Association, and obtaining a Certificate of Incorporation from the relevant government authority. Once the company is registered, it can begin operations and conduct business activities by its stated objectives and the relevant laws and regulations.
Advantages of Registering Private Limited Company
Registering a private limited company comes with multiple benefits. So, let us have a quick look at what these benefits are:
Separate Legal Entity: A private limited company is a separate legal entity from its owner which means that the company can easily be sued in its name. It can also own property, enter into a contract, and conduct different business activities under its name. The owner’s assets will not be at risk once the company gains a separate legal entity.
Limited Liability: Another advantage of registering a private limited company is that the shareholders will only be liable for the amount of money that they have invested in the private limited company. All their assets will be completely safe. So, in case the company undergoes any kind of financial loss, no harm will come to the personal assets of the owners.
Fund Raising: Private limited companies can easily raise funds under their name by issuing shares to investors. This makes it easy for companies to acquire investments from various sources. The company can also take loans to maintain smooth business operations.
Steps to Register a Private Limited Company
Step 1: Apply for DSC (Digital Signature Certificate)
The first step of registering a private limited company is to obtain a Digital Signature Certificate for the directors of the company. To obtain the Digital Signature Certificate, you are required to fill up an online application. Once the application is approved, you can get your DSC.
Step 2: Name Availability
The next step would be to check the availability of the name that you want for your company. This can easily be done by visiting the website of the Ministry of Corporate Affairs and checking the availability of the name. If you see that the desired name is available, you can proceed with the next step.
Step 3: DIN for directors will be approved along with Company Incorporation
The directors of the company will also have to apply for the Director Identification Number. This again needs to be done through the MCA website. The DIN is a unique identification number that will be allocated to each of the directors of your company.
Once you have obtained the DIN and the DSC, you will be able to file your application for Incorporation into the company through the MCA website itself.
You will have to submit all the necessary documents along with the application. This includes the identity and address proof along with the application.
Step 4: The PAN and TAN will be allotted along with Incorporation
After the Company Incorporation, the PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) will be allocated to your company. You will be requiring the PAN and TAN for carrying out multiple operations for your company.
Step 5: EMoa and EAOA to register the private limited company
The Memorandum Of Association and Articles Of Association will have to be prepared and filed along with your application for incorporation. These documents contain the different rules and objectives of the company that you are registering.
Step 6: Certificate of incorporation will be issued by RoC with PAN and TAN
If all your documents are in proper order, your application will be approved and the Registrar of Companies will offer you the Certificate of Incorporation. This certificate will contain various details of your company, including PAN and TAN.
Step 7: Open a current account for your company
Now it is time for you to open a current account in the company’s name with the bank of your choice. This account is important for carrying out all your organisation’s financial transactions.
Why Choose Bizpole to Register a Private Limited Company?
Bizpole has been offering top-notch professional services for private limited company registration in India for quite a while now. The company has got a highly experienced team of professionals who are well-versed in the registration process for private companies in India. They will guide you through the legal complexities.
The company also makes use of a highly streamlined process to make the registration process quick and easy for you. It also offers transparent pricing options and there are no hidden fees involved. You can also contact Bizpole for partnership firm registration in India.
