Establishment of a business enterprise is likely to face unforeseen challenges each step of the way. So, while establishing a company, you should make sure that you don’t take suggestions from people who do not know how to go about the whole company registration process. Recognize your specific needs for starting a company, whether they are domestic or international, whether the online company formation that you are planning is small or big Set up a company in Istanbul.
There are company formation agents that can help you through Company incorporation procedure in India or any other country. These agents are present at registered companies that offer such services for all your needs. They can fulfill your objectives by realizing the full potential of your financial asset and make optimum use of it.
The Procedure of Company Incorporation
The whole process of limited company formations goes through series of steps. The registration process of the company is the most important, step and this comes after the brainstorming sessions of choosing a name.
In all of the places over the world, India is the easiest place for company formation. Once the name of the company is decided, the next comes the task of getting it approved by the concerned Registrar of Companies.
Read more: Things you Need to Know About Incorporation of Company in India
You can simply suggest a choice of names, and the ROC will respond within a few days of the availability of names. An individual seeking to start a new company can submit up to 6 names at a time.
Next comes is the drafting of the Memorandum of Association (MoA) and Articles of Association (AoA). There’s a subtle difference between the two; MoA concentrates on important clauses associated with ltd company formation, and AoA deals with internal functions of the company. The two main clauses deal in MoA are the authorized capital clause and object clause.
The authorized capital clause deals with the extent of expansion you can go to with your company and how to issue fresh shares in the future, whereas the objective clause deals with the objectives of the company. Once these are done, they are formally drafted and printed to be sent to the ROC for their perusal and objections or suggestion if any are noted.
The accepted documents are duly stamped and finally sent to the registrar. These documents also contain details of the appointment of important people in the company. The whole process of company formation takes less than a three-week time period.
The last and final step of the company registration process involves paying off the registration fees, and the company is finally registered under the Companies ACT 1956 and gets its unique identity. Your business development consultant will also help you in acquiring the company seal and other relevant things like a permanent account number.
Few Important Points to Remember while doing Company Registration
The procedure of company incorporation is not any rocket science. But it is a close second. Even seasoned businesspersons feel bogged down by the company incorporation procedures, the paperwork, and the legalities. So, this being the case, you have to pay extra vigilant at the time of the company incorporation even if you are using the services of an expert.
Here are the few important things to remember at the time of business incorporation:
- What is the business incorporation? Simply put, it’s the legal formation of a new business.
There are different types of businesses, some of these are:
Public Limited Company
Private Limited Company
Limited Liability Partnership Company
Unlimited Company
Limited Partnership and Private Company Limited
- Before the company incorporation, you must be clear what type of business it will be. Additionally, it is equally important to finalize the name and address of the business. In case a permanent address has not been fixed, the company will need to hire a lawyer and rent an official address temporarily.
- One of the biggest chores of company incorporation involves filling up relevant forms and submitting contracts. All of these forms are available on the websites of the company formation experts. Some of the most important forms are Form 10, Form 12, The Memorandum of Association and Articles of Association. These forms require signatures of various officials. For example, the Memorandum of Association (MoA) must be signed by a Notary Public while the Article of Association must be signed by each shareholder.