How Can I Register My Small Business In India?
Starting a small business in India can be an exciting effort, and registering your company is an essential first step in proving its validity. Although the procedure could appear overwhelming initially, you can easily manage it with the correct advice. If you opt for a Business Registration Online or Online Company Registration, contact Eazy StartUp for a seamless experience.
Let's jump into the detailed discussion:
● Choose Your Company's Organization
● Choose a Business Name
● Acquire Electronic Signatures
● Acquire Director Identification Number (DIN) and Designated Partner Identification Number (DPIN)
● Create an Account on the MCA Portal
● File the Incorporation/Registration Form
● Pay Registration Fees
● Obtain the Certificate of Incorporation/Registration
● Apply for PAN and TAN
● Open a Business Bank Account
Choose Your Company's Organization:
Establishing your company's structure is crucial before beginning the registration procedure. In India, partnerships, limited liability partnerships (LLPs), sole proprietorships, private limited companies, and one-person companies (OPCs) are typical business forms for small enterprises. Every structure has unique rules and standards for compliance.
Choose a Business Name:
One of the most important steps in the registration procedure is choosing a distinctive and significant business name. Verify that the selected name complies with the Ministry of Corporate Affairs (MCA) criteria and is not already in use. The official MCA website allows you to verify the name's availability.
Acquire Electronic Signatures:
Getting digital signatures is a need for some business entities, like limited liability partnerships (LLPs) and private limited companies. Digital signatures guarantee the integrity of the data provided during the registration procedure and are used to sign electronic documents.
Acquire Director Identification Number (DIN) and Designated Partner Identification Number (DPIN):
Selected LLP partners and corporation directors must obtain a unique identification number. Directors must have the DIN and designated partners must have the DPIN. These can be acquired by completing an online application on the MCA portal.
Create an Account on the MCA Portal:
Make an account on the Ministry of Corporate Affairs portal to begin the registration procedure. This account will be your point of contact for tracking the status of applications, sending documentation, and meeting other compliance requirements.
File the Incorporation/Registration Form:
Use the MCA portal to submit the appropriate registration or incorporation form, depending on your company structure. Give precise information about the company, its partners and directors, and the registered office address. Enclose the required paperwork, such as the Articles of Association (AOA) and Memorandum of Association (MOA).
Pay Registration Fees:
The kind of business structure and the authorized capital determine the registration fees. Make online payments for the relevant fees via the MCA portal. Remember that these charges are part of the overhead of handling your application.
Obtain the Certificate of Incorporation/Registration:
You will get the Certificate of Incorporation for companies or the Certificate of Registration for limited liability partnerships (LLPs) upon the Registrar of Companies (RoC) review and approval of your application. This document is official evidence of the existence and registration of your company.
Apply for PAN and TAN:
Apply for your business's Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) while you complete the registration process. These are necessary for financial transactions and tax compliance.
Open a Business Bank Account:
Once you have your tax identification and registration numbers, open a business bank account in your company's name.