How to Register a Company in India
Having a business structure in place is one of the first steps for entrepreneurs to take. It is important to understand that the structure you choose impacts your income tax liability and compliances. Additionally, it can also impact your ability to raise funds as investors will only invest in a registered business. Choosing the right company structure can save you time, money and hassle in the long run.
The registration process has moved completely online, which means you can complete the entire process without ever having to visit the MCA office! This is something that would have been impossible a few decades ago.
To register a new company you will need to have a few documents ready including the Memorandum of Association (MoA) and Articles of Association (AoA). MoA and AoA contain the details of your company, such as the purpose of your business, the name, state of registration, authorized capital, and names of the first subscribers. You must ensure that the information in these documents is accurate and true to the best of your knowledge.
You will also need to apply for a DIN or Director Identification Number. This can be done using the SPICe application on the MCA website. You will also need to pay the registration and filing fees. Once your application is processed, you will receive a Certificate of Incorporation along with PAN and TAN. You will then be able to open a bank account in your company name.
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