Many people do dream about starting their own company to earn their bread & butter. This seems to be a challenging task because a lot of legal procedures are to be followed. Government of India has issued certain rules & regulations which need to be strictly followed for starting a new company. These regulations are updated by the government periodically, so you need to ensure that you get in touch with the lawyers that have specialization or complete knowledge about company registration. The essential procedures need to be taken care of before you begin with the New Company Registration, so that there is legal trouble later on.
Basic requirements for company formation in India
- Name: Firstly, you need to get the name of the company registered with the respective department that is MCA (Ministry of corporate affairs) that comes under government of India. Sometimes name of the company is not available but this can be checked on the respective MCA website.
- Documents: After the successful registration of the company name you need to submit the documents with the respective authority to prove that you are a legitimate entity. These legal papers includes company name registered on the website, capital that has been invested or used for company formation, partnership documents (if applicable), information about the company functionality, proof of registered company office, copy of ownership deed and other papers like electricity bill, water bill & telephone bill, if the premises is rented. These are some of the basic documents that are needed for new company registration in India.
- Director & shareholders proof: Ministry will ask for the documents from the director and shareholders of the company. These include PAN card, Voter ID, Passport, Election card, Email id, Recent photographs and Phone numbers.
- Company Incorporation: Once you have completed the above procedures then you need to proceed further and file affidavits for non acceptance, INC 9, INC 10, DIR 2, NOC and subscriber sheet of MOA.
- Trade license: Soon after completion of the above documents you need to apply for PAN/TAN of the company. In case your company will be selling products in the market then you should be applying for trading license as well with the local municipality. Let’s say your organization will be selling soft toys on national level. In this case, as your products will be going out of the state therefore you need get a VAT (Value added tax) & CST (Central state tax) registration.
- Fee: The cost of company registration in Delhi depends on various factors such as company size which is based on the amount of the capital that has been invested at the time of company formation.
Going for a Private company registration in Delhi seems to be a daunting task but taking the right consultancy form the lawyers will certainly save your precious time. Some of the legal practitioners specialize in this procedure and charge very reasonable fee to get your private company registered. Just take the advice from the company registration consultants that have been working in this domain and they will make this process hassle free.