Registrations
Public Limited Company Registration
A 'Public Company' is a limited company formed with minimum of 7 members and 3 Directors. There is no restriction for Maximum number of members in a Public Company. The name of the company should end with the words 'Limited'. Subject to the compliance of the Companies Act, a company can issue shares to the public and can accept deposits from the public.
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Private Limited Company Registration
Private Limited Company is the most trusted and visible business structure in India. A Private Limited Company in India is registered under the Companies Act 2013 with limited liability. Company Registration is regulated by the Companies Act, 2013, and administered by the Ministry of Corporate Affairs (MCA), Registrar of Companies, and is processed at the Central Registration Centre (CRC).
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One Person Company (OPC) Registration
One Person Company is a best option for those who runs a proprietorship firm and really like to get the identity and benefits of a company for their organization. Normally for a Private Limited Company, it requires minimum of 2 members (Directors) for incorporation, whereas OPC only requires an individual for the incorporation.
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Partnership Firm Registration
A Partnership Firm is a business entity formed with a purpose of making profit from the business by two or more parties combined and with a formal legal agreement called Partnership Deed. In a partnership firm risks, responsibilities and even the profit or loss would be shared in an agreed proportion to the parties involved (partners) in the business.
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Limited Liability Partnership (LLP) Registration
Limited Liability Partnership (LLP) is a balanced entity, carrying benefits of a conventional partnership where personal liabilities of the partners are limited. The Limited Liability Partnership is regulated as a contractual agreement between the partners under the Limited Liability Partnership act, 2008.
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Proprietorship Firm Registration
Proprietorship firm is a business entity where business is started and maintained by an individual and the person runs such a business is called proprietor for the said business. Most of the business in the infant stage is preferred to go with proprietorship registration considering the freedom for making decisions, lower tax rate, single handed operations, easiness of incorporation etc.
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Nidhi Company Registration
The Nidhi Company is a type of NBFC (Non-Banking Financial Company) which is regulated and governed by the provisions of the Companies Act 2013. The significant feature that differentiates this company from other companies is that this business structure deals with the deposits from and loans to its members, i.e., shareholders only, and works just for the mutual benefits of its members.
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Section 8 Company Registration
A Section 8 company is registered with charitable objects such as promotion of sports, arts, science, education, preservation of environment, religion, charity etc.Section 8 companies are not restricted from making profit but they cannot distribute profit shares among members. The profit acquire from any activity should be utilized for charity activity for which the company formed for.
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Professional Tax Registration
Professional Tax is a form of Tax, which the State Governments are collecting from professionally occupied personals and business entities. A person earning income from salary or professions such as Lawyers, Company Secretaries, Charted Accountants, etc. are liable to pay this tax. Any employers, professionals, traders, etc. have to register for Professional Tax. The Local Administrative Body (Panchayat, Municipality, Corporation, etc.) are handling the collection of Professional Tax.
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FSSAI Registration
Food Safety Compliance System (FoSCoS) is an enhanced version of Food Licensing and Registration System (FLRS) which was launched in 2012 for issuance of pan-India FSSAI Licenses and Registration. It had evolved incrementally and organically with changing regulatory needs. The technology on which it was built was outdated with technical support no longer available.
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Barcode Registration
Barcodes are vertical representation of lines that can be scanned electronically to fetch the product details faster. Barcode is used to encode the product details instantly such as product numbers, serial numbers and batch numbers. A barcode on product has a vital role in the supply chain, enabling all participants’ like Manufacturers, transporter, wholesaler and retailer to identify products easily.
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Import Export License (Import Export Code) IEC Registration
An Import Export Code (IEC) is a 10 digit unique code required by anyone, who is looking to forward to start an export/import business in the country. It is issued by the DGFT (Director General of Foreign Trade) which has a validity of lifetime.
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Udyam Registration
Udyam is the registration of a business under MSME (Micro Small Medium Enterprises).www.udyamregistration.gov.in is the official portal to register a new MSME or to re-register already registered EM – II (Entrepreneurs Memorandum Part - II) or UAM (UdyogAadhaar Memorandum).
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Digital Signature Certificate
A Digital Signature Certificate (DSC) is used to validate the identity and authenticity of the Certificate Holder, issued by recognized Certifying Authorities in a secure digital key format. DSC(Digital Signature Certificate) enables the high level of security for online transactions by ensuring absolute privacy of the information exchanged using an DSC.
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FAQ
What are the steps to be followed to register a business in India?
First you have to decide the structure of your company based on number of person involved in the business, activity, capital requirement etc. Based on the above criteria you can choose a business structure or take advice from experts in BookMyTM. Registration procedure varies from one to other type of incorporation.
Is business registration is mandatory for all business?
Registration is the mandatory part to establish a business in India, where proprietorship firms get an exemption, they can run without registration (there is no particular act to regulate the proprietorship where legal compliance should be followed depends on the nature of business). For proprietorship firms as well it’s advisable to register their business to get benefits of law or to own a company account in Bank.
How to choose a right business entity?
First you have to decide the structure of formation of your business by number of person involved in it. If it’s a single owner firm, you have the options of Proprietorship Registration or One Person Company (OPC). If there were two or more persons combines to form a business, they have the options like Partnership Firm, Private Limited Company, Limited Liability Company etc.
Is there any approval required for business registration?
Every business structure is regulated by specific registration law. Whether it is a private company or LLP, regulatory approval is required for their registration. In addition to that, businesses such as stock broking, banking activities, insurance agency, etc. require prior approval from the regulatory authorities such as SEBI, RBI & IRDA. These registrations must be obtained prior to business registration.
What are the normal post registration steps?
The legal compliances are not end with registration. The business have to make sure that other legal compliances like GST Registration, Shop and Establishment Registration etc. where met and also if like to protect the brand name/identity they can consider registering Trademark, any other business standard certification like ISO certification are optional.
How much is the advisable amount of capital for starting a business?
The amount of capital varies from small, medium size business and the activity and scale of the business. Best way to decide appropriate budget is to plan expenses from the very beginning stage to establishment and as well plan the future expenses and requirements too.