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Company registration is one of the legal procedures which give your business a separate legal entity status that have its own identity and value. Every renowned name in this business world have started with a small step of company registration. A company registration doesn’t just make you a separate entity and but also establishes a real net worth of your business. Such real live examples are Facebook Inc., Google Inc., Microsoft etc.
A company registration or incorporation gives your business a standalone functional identity which possess its own PAN and TAN like any natural person. A company is an artificial legal person in eye of law. A company can be sued or can sue. Since a company is an artificial body so it needs someone to operate it and for which shareholders of company who are actually owner of the company vests this power to its director who actually handle day to day operation of business.
In this era of startups company registration in India
has witness a tremendous growth. Company registration has become fast and easy by introduction of a new form
INC-29 , an integrated form which gives an alternative to traditional method of INC-1 followed by 3 registration form.
Company registration procedure is one of thing which has rapidly changed with time. As favoring the startups in India , our government has made all possible efforts to make business ease and also come out with more and more clarification of things related to company registration. There are several amendment to Companies (Incorporation) Rules, 2014 has been issued by government which ultimately gives more and more clarity which startups can take care during their company registration. With this rapid change, government has also introduced One Person Company (OPC) which is a private limited company form, which allows to have a private limited company with single person also. Not only this, government has also issued time to time clarification via notification which has become easier for the businessman. Notification such as:
1. Clarification of on One Person company registration:
A natural person shall not be member of more than a One Person company and the same person can be nominee of only 1 One Person Company (OPC). Hence one person can make only one OPC.
2. No minor shall become member or nominee of the One Person Company:
With this declaration government has well made clear that a minor can neither become member nor nominee of one Person Company. Hence a minor (age below 18) cannot register a one person company.
With help of these notification and clarification, the company registration has become an easy from all perspective. Still there are some cautions that are required to be take care during the company incorporation. Some area as follow:
1. Name of the company:
Your company name has to play major role in your business. Your name becomes your fame. So makes sure your company name is availability in MCA data as well as trademark data. As the name is available, you can secure your name in MCA as well as Trademark data also by registering the same.
2. Address of the company:
Despite of the fact the company registration process has gone easy, but there are certain things which is still tedious as before. The Address change procedure outside the state is very technical and expensive too. A change of registered address from one state to another will cost you more than a company registration in India. Although a company can open its n number of branches throughout anywhere but choose wisely your state of registered office of the company.
3. MOA &AOA:
Memorandum of Association (MOA) and Article of Association (AOA) are the major documents of company incorporation in India. MOA includes all the business objective of the company where as AOA includes all the basic laws of company operation. So one should properly go through its MOA and AOA and also understand the each part of it from professional before registering the company. Somewhere it has a standard format but still you can go for any desired changes.
For understanding more why we need to register a company to drop an email to us at firstname.lastname@example.org