How to Create a Company in India

BPA
05-12-22

How to Create a Company in India

Any business owner may face hurdles when attempting to register a corporation online in India. At every level of the business, a business owner must make well-informed judgments. The choice of what kind of corporate body the business should become is one of the crucial choices that must be taken in the early phases of the venture.

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Additionally, this choice would unquestionably have the biggest effects on the company. Although there are many different corporate structures, an entrepreneur must select the one that is appropriate for the company. The goals of the company, the size of the membership, the legal system in which the company is being established, as well as a number of other criteria, all affect the choice of business structure.

Common Business Structures in India

The following different types of business entities are most prevalent in India:

Private Limited Companies
Public Limited Companies
One Person Company
Partnership
Limited Liability Partnership
Sole Proprietorship

Why a Business Should Register

Although registering a business is a difficult and time-consuming process, it does provide a number of benefits that cannot be disputed, as will be seen below:

In the case of an LLP (Limited Liability Partnership) or OPC, limited liability to the members (One Person Company)
In a registered business, enabling the transferability of shares is possible.
When a business is registered, opening a bank account in its name is simpler.
An unregistered business is required to demonstrate its legitimacy by tax registration in order to do this.
Banks and financial institutions provide loans to incorporated businesses because they are structured and have more legitimacy.
The majority of firms prefer to shake hands with registered business entities while engaging in B2B (Business-to-Business) transactions.

Even though registering a business offers its own benefits, it should be emphasised that doing so is not required for all businesses.

As long as the business is lawful, it is still possible to operate an unregistered business, such as a sole proprietorship or a partnership.

After confirming the application and the applicants’ required documents, the registrar issues the certificate of incorporation.

Documents Needed for Company Registration

The following documents must be supplied for authentication in order to register a company.

Passport-sized images of all the partners or directors
Evidence of the members’, directors’, partners’, and sole owners’ identities, such as an Aadhar Card or a PAN card
Additionally, evidence of address, such as recent bank accounts, electricity bills, and telephone bills
Evidence proving the registered office’s address, such as a water bill, power bill, or phone bill
If the registered office is housed in rented space, a NOC (No Objection Certificate) and the rental agreement must be enclosed.
The sale document or the property deed must be provided if the property is owned.

How can we Help?

Thus, the corporate entity a business chooses will determine how it is registered in India. Although single proprietorships and partnerships are exempt from this requirement. Advocate B Pramanik & Associates Kolkata corporate services company in kolkata will help you to setup your business in India.