webxdev/
Starting a business is indeed very exciting; but without proper advice, registering a new company online turns into a jumble. With the help of digital transformation in place and Ease of Doing Business as the government's forte, today it has also become easier, shorter, and completely online in setting up companies in India.
This indeed stands out as a very friendly guide by Lawgical India, to motivate new-age entrepreneurs or seasoned business owners to totally transform their registration journeys.
What Is New Company Registration Online?
New company registration online is the phenomenon of legally registering an entity under the Ministry of Corporate Affairs (MCA) through its online platform. All types of companies, be it a private limited company, public limited company, or an OPC, have to be registered to obtain legal identity as a corporate entity.
This whole procedure in MCA online portal is to submit an application and upload documents to obtain approval without physical presence of the entrepreneur in any government office. Such a process has minimized paperwork and turnaround time greatly, with this new company registration online process being one of the top successful processes in the ecosystem of doing business in India.
Types of Company Registrations Possible in India
Before initiating the new company registration online process, one has to understand which type of company is suitable for your business structure:
Private Limited Company (Pvt. Ltd.)
● Minimum 2 directors; 2 shareholders.
● Best suited for start-ups and SMEs looking for investment or otherwise limited liability.
One Person Company (OPC)
● Best suited for singularly working entrepreneurs.
● Imparts limited liability with its own separate legal existence.
Limited Liability Partnership (LLP)
● Combines features of partnership and company.
● Flexible management structure with limited liability.
Public Limited Company
● Minimum of 3 directors and 7 shareholders.
● Best suited for large-scale businesses that are in the process of raising funds from the public.
Section 8 Company (Non-Profit Organization):
● Works toward charitable or social objectives.
● Profits are reinvested toward the goals of the company.
To familiarize yourself with which structure will best serve your business goal, streamline your new company registration online process for maximum efficiency.
Online Benefits of Registering a Company
An online company registration has numerous advantages to the companies opting for new registrations:
1. It is 100% Paperless.
Moreover, the entire process is completely digital-from submission of documents to issuance of the certificate. Various governmental departments do not require any physical visits or manual paperwork.
2. Legal Merger
Because it gives that company separate legal identity, it saves such assets from business liabilities on registration.
3. Brand Credibility
Registered companies have an identity that's much more respectable and credible for the investor, vendor, and clients' eyes.
4. Ease in Raising Funds
It is highly simplified for these registered companies to raise money via equity, venture capital, or bank loans.
5. Tax Benefits
The Income Tax Act comprises a range of deductions, exemptions, and allowances for companies.
6. Global Expansion
A company registered under the MCA can use it to expand all over the world, establish its subsidiaries, or engage in partnerships.
Very much in a nutshell, new company registration online is the first step toward formalizing your business and opening all those doors to growth thereafter.
Documents Required for Online Registration of New Company
In India, online registration of the company mandates a clear mention of the documents on availability.
Requirements for Directors and Shareholders
● The PAN card is compulsory for Indian citizens.
● Passport for foreign citizens.
● Aadhar card/Voter ID/Driver's license.
● Recent passport-sized photographs.
● Mobile number and email ID.
For Registered Office Address
● Registered Office Address, along with its last two months' electric/water bill.
● Rent agreement (if any).
● The NOC obtained from the owner.
Company Information
● Proposed company name (2 options).
● Business activity (main objects of the company).
● Pattern of shareholding.
To start the new company online registration with no trouble, it is germane the uploaded documents should be valid, clear and up-to-date.
New Company Registration Online-Stepwise Procedure
How about starting your online company registration process at the MCA website MCA portal:
Step 1: Obtaining Digital Signature Certificate (DSC)
It is required on the part of each director to obtain DSC for digitally signing the documents. This is the first stage of online registration of a new name of the company as an authentication of the information provided therein.
Step 2: Apply for Director Identification Number DIN
Next, apply for DIN for all proposed directors using the SPICe+ form from the MCA website.
Step 3: Name Approval via RUN/Part-A of SPICe+ Form
Send two options for name approval through the Reserve Unique Name (RUN) service or Part A of SPICeplus. The MCA will check name availability and the existing trademark holders.
Step 4: MoA and AoA Preparation
The Memorandum of Association will emphasize the primary goals of the company. The Articles of Association will serve as guidelines for the internal management of the company. Both these documents are of utmost importance to register a new company in India online. They should be electronically signed by all the members.
Step 5: Filing of SPICe+ Part B Form
Enter information related to the company, with information from the Directors, data on share capital, and the address of the registered office. Attach all documents mentioned above.
Step 6: PAN, TAN, and Bank Account Integration
This form of SPICePlus PAN and TAN as well as bank account opening option would make online company registration a one-stop solution.
Step 7: Verification and Certificate of Incorporation COI
Once the documents are reviewed and approved by an official of the Registrar of Companies RoC, a Certificate of Incorporation COI will be issued
This certificate is prima facie proof of the successful online registration of the company.
Online New Company Registration: Timeline and Cost:
● Time: 5-10 days (if the documents are okay with respect to submission made)
● Government Fees: Variates upon authorized capital.
● Professional Fees: Depending on the type of consultation + assistance with document preparation.
We from Lawgical India will provide you with full assistance regarding online new business registration. This will make your experience simple and cost-effective.
Some common mistakes to avoid during New Company Registration Online
Selecting a Trademarked or Similar Name:
● The MCA or trademark records must be verified for the selected name.
● Uploading Document with Wrong Format or Signature:
● Upload the documents in the correct format (PDF, JPEG) signed by the digital signature valid under the Indian IT ACT.
SPICe+ Form Filled with Incorrect Information:
● Properly fill in the required fields so that your form is not rejected.
Wrong Definition of Business Object Clause:
● It is crucial to clearly define the objective of your business in the MOA.
Neglecting to Fulfill Compliances Post-Incorporation:
● Compile annual returns, maintain accounts, and organize board meetings as required after the online registration of the company.
Also, steer clear of the above-mentioned mistakes to guarantee an error-free registration without any hitches.
Why Lawgical India for New Company Registration Online
Among the top firms in India for business and legal advisory, Lawgical India stands for New Company Registration Online. These are some of the many reasons that geared Lawgical India with impetus with entrepreneurs:
● End-to-End Support: From deciding the proper business structure to filing every document.
● A reputed legal team: Experts with knowledge in guiding you through every step.
● Quick and Hassle-Free Processing: Quick processing with minimum discrepancies.
● Transparent Pricing: No hidden costs. Only transparent and reasonable pricing.
● Post-Incorporation Support: Support for GST, MSME, and trademark registration.
We are here to empower entrepreneurs by making the legal process more convenient and believe that company registration online is for all.
Post-Incorporation Compliance Checklist
● After obtaining an incorporation certificate, this stage is of the essence.
● Apply for GST registration if your annual turnover exceeds the exemption limit.
● Open a business bank account with COI, PAN, and AOA.
● Register for MSME/Udyam for small businesses.
● Application required for Shops and Establishments License (if required).
● The board has to conduct its first meeting within 30 days from incorporation.
● Maintain Statutory Registers and Books of Accounts.
● File annual tax returns and financial statements regularly.
Lawgical India will ensure all these post-registration requirements become easy for you.
Welcome to the Frequently Asked Questions (FAQs)
1. How long will it take for the online registration of a new company?
Generally, it takes around 5 to 10 business days unless required documents are missing, or some objections come from the MCA.
2. Can I register a company online without visiting any government office?
Yes, the new company registration online is entirely a digital process, and no physical visits are required.
3. What is the government fee for online new company registration?
It varies with the authorized capital and the type of company. Government fees can start from about ₹1,000 when it comes to small companies.
4. Can a foreign national register a company in India?
Yes, a foreign national can register a company in India through new company registration online while being an NRI provided he/she possesses a valid passport and proof of address.
5. Why should I opt for company registration with Lawgical India?
Lawgical India gives you the assurance that your new company registration online will be done in one go, backed by professional support throughout the process, transparent pricing, and compliance services by experts.
No comments yet. Be the first to comment!