The establishment of a business isn’t an easy task. It is a crucial phase for any businessman as one has to comply with all legal requirements and launch the business market.
2. In this presentation, we will see the process of
registering a Private Limited Company.
The establishment of a business isn’t an easy task. It is a crucial phase
for any businessman as one has to comply with all legal requirements
and launch the business market.
3. Step 1: Name Approval
The name should consist of three parts; the first part should
be a unique term, the second part must describe the nature
of the business that is to be carried on by the company, and
the last part must represent the entity type.
The first step towards registering a private limited company is to
apply for approval of the proposed company names to the Ministry
of Corporate Affairs. A maximum of 2 names can be provided. The
allotted name would be reserved for 30 days from the approval date.
4. Step 2: Obtain Digital
Signature
You need to obtain a class 3 digital signature for the registration
process. It usually takes two days to get a digital signature.
As the documents for Company Registration are submitted
completely online, Digital Signature is mandatory for every
Shareholder. A digital signature is exactly what it sounds like a
modern alternative to signing documents with paper and pen.
5. Step 3: Obtain Director
Identification Number
DIN Number contains all information regarding the director, i.e.
name, PAN number, their present address, etc.
The next process is to obtain a Director Identification Number (DIN)
for the proposed Directors of your Company. DIN Number or
Director Identification Number is a unique identification eight-digit
number required for any existing Director of a Company.
6. Step 4: MOA & AOA
Memorandum represents the company’s charter, while articles
of association contain the internal rules and regulations of the
company. Each subscriber should sign the memorandum in
the presence of at least one witness.
Once you obtain the DIN and Digital Signature, the next step
towards the registration process is the submission of the
Memorandum of Association and Article of Association.
7. Step 5: Certification of
Incorporation
After the final submission of all the documents mentioned above,
along with the necessary fee, ROC shall issue the certificate of
Incorporation of your Private Limited Company. This means that
your business is registered as a Private Limited Company.
8. Step 6: PAN Number
As a Private Limited Company is a Separate Legal Entity, you need to
obtain a Permanent Account Number from the Income Tax
Department in your Company’s name. This can be used to open a
current account, pay corporate tax, and serve many other purposes.
9. Click the below link to know more about
Private Limited Registration in Bangalore