Event Management Company in India

The Registration For Event Management Company in India

PUBLISHED ON: Dec 18 2021
PUBLISHED IN: Legal Guides

Do you want to set up and register an event management company in India? Are you a bit perplexed on the verge of opening an event management company because of not knowing how to get started? This page is for you as you are going to get all the vital information about the incorporation procedure for an entity under the company act 2013. If this business is legally established then compliance and tax liabilities would be some of the benefits to be availed. Let us understand the fundamentals of this industry.

What Is An Event Management Company? 

The event management company is an entity dealing in the organisation of various types of special events such as cereMCA'sonies,  birthdays,  celebrations, workshops, product launches, conferences and events for public gatherings. If we try to define event management more precisely, then the outcome would be. 

"A process by which certain events are planned is a systematic and creative way to enhance the importance of the moment and also assess". It is in short an act of managing a project such as a marriage and other important social gatherings. 

 

Advantages Of Event Management Companies For Customers. 

  1. It saves money and time as it is planned professionally and executed systematically. 
  2. The execution takes place end to end in a pre-designed format. 
  3. It is so planned that even the post-event analysis takes place as an important part of the whole planning.
  4. With the event management company, there are ample creative ideas to execute,  plan and assess the events. There is creativity at every step of event management dealings. 

Importance Of Registration For Event Management Companies. 

Registration is very important for an event management company.  There are various reasons for the registration of entities like these. As it is written. 

  1. In comparison to unregistered companies, a registered company is more likely to earn prompt credibility. 
  2. There are fairly well chances for a registered company to get more customers over time.  
  3. A registered company is likely to avail many tax-related advantages by the IT department. 
  4. No matter what has happened to the shareholders of the company such as if they have died or any other catastrophe has taken place. A registered company would not cease to exist.
  5. Stockholders and debentures are the things for the companies which are registered as private limited companies.  To raise funds is a wonderful way. 
  6. Even the inflow of investment from overseas companies can be supported by the companies which are registered. 

These facts tell the huge impact and importance of registration on and for an event management company. This is not to be neglected at any cost. 

How To Register The Event Management Company in India

There are many requirements to be fulfilled to be registered. A private limited company is a company privately owned and maintained entity. This is one of the most profitable businesses in India. This legacy is maintained under Company Act 2013. There is a minimum number and a maximum number of shareholders.  There should be 2 shareholders minimum and the maximum limit is not to be extended to more than 200. As per the guidelines of the Company Act 2013. 

However, if a privately owned company or private limited company faces fiscal risk, its shareholders are not supposed to compensate for a sale by selling their assets that they possess personally. At least two directors should be there to get registration for private limited companies from the Ministry of Corporate Affairs. The maximum number of directors is 15 for such companies. A candidate from overseas locations can also apply for the directorship if he is eligible.

Procedures To Be Followed. 

The Ministry of Corporate Affair on 15th February 2020 came up with a new form 'viz SPICe+' for the companies under Company Act 2013. There are two parts A and B. Let us go through these two parts; they are the parts of a single procedure. 

Part - A: Name Reservation

  • Registration has a lot of uses but it is the first step toward obtaining a name. There are some procedural instructions for the same. 
  • First, you need to go to MCA's website and homepage and you need to visit the top menu to open MCA services.

You need to tap at the new application and fill in the following information                             

  1. The class of the company
  2. The category of the company
  3. The subcategory of the company
  4. Main divisions of industrial activities

Description of the industrial activities. 

need to provide two proposed names and opt for the auto-check option to allow the portal to start the verification process to seek the availability of the names. 

If you receive the approval then click on the Save button. Then a small window will appear, make sure you click on the option 'submit for registration 

Then there will be a fee to submit a message on the same window. Not down the SRN for future reference. 

Click on the 'pay now' to submit a fee regarding name reservation. 

Once you are done with part A procedure toward part B. 

Part - B: Incorporation Details

There are many sections in this part and the details are given to be followed. 

  1. Location of a registered company
  2. Director and subscriber to be
  3. The resources of the company

Apply for tax registration with PAN and TAN

A pre-security cheque would be undertaken and a confirmation message shall prompt right after the subscription. You need to download the PDF related to part B and fill some linked forms with part B that can be submitted to the MCA's website. 

Documentation Required 

  • The articles and memorandum of association 
  • Declaration by subscribers and directors 
  • Address confirmation proof
  • Bill's of utility at least two months old
  • Certificate of incorporation and nominee's assent
  • Proof of identity and residence of nominee and subscribers
  • Proof of identity and residence of the applicants.

Registration is a vital requirement for the event management company in India. This type of company deals with planning then it can not be imagined that these companies will fail to get any registration. Registration means authenticity and reliability. The company with registration is regarded as more passionate and devoted towards its work. That is a persuasive factor for the company to attract more customers as there would be less risk and more smoothness in their work as they are investing in the company. 

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