Incorporation of Business...
Take your business to the next level with incorporation. Enjoy the benefits of limited liability protection and unlock opportunities for growth and success.
"Start your journey with ease - Let us handle the process for you."
Why should you incorporate your business
Steps involved in business incorporation
Services offered in business incorporation
FAQ's
Business incorporation refers to the process of legally forming a company or corporation. This process involves registering the business as a separate legal entity, distinct from its owners or shareholders. Incorporation offers several benefits, including limited liability protection, tax advantages, and the ability to raise capital through the issuance of shares.
What is business incorporation....
Why should you incorporate your business..
Incorporating a business has several advantages, including limiting the liability of the owners, separating personal and business assets, and creating opportunities for tax planning and fundraising. Incorporating a business can also enhance the credibility and reputation of the business, as it demonstrates a commitment to professionalism and stability.
Here are the steps involved in the incorporation of a business:
Choose a Business Name: The first step in incorporating a business is to choose a name that is not already in use. Check with the state's Secretary of State office to see if the name is available and meets the state's requirements for business names.
Select a Business Structure: Determine what type of business entity you want to form. The most common types are a C Corporation, S Corporation, Limited Liability Company (LLC), or Partnership.
Register with the State: To incorporate a business, you need to file articles of incorporation with the Secretary of State's office in the state where the business will operate. The articles of incorporation are the legal documents that establish the business entity.
Obtain Necessary Licenses and Permits: Depending on the type of business and the state where it operates, you may need to obtain licenses and permits to operate legally. This can include a business license, tax identification number, and any necessary permits from regulatory agencies.
Draft Bylaws and Hold Initial Meeting: After incorporation, you must draft bylaws that outline the rules and procedures for running the business. You must also hold an initial meeting of the board of directors to adopt the bylaws, elect officers, and take care of other organizational matters.
Issue Stock Certificates: If you choose to incorporate as a C Corporation, you will need to issue stock certificates to the initial shareholders. This process involves setting the number of shares and the price per share.
Obtain Employer Identification Number: You will need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) to establish tax reporting and payment requirements.
Leave all these steps on us....Start your business with sheer relief
Services offered in business incorporation..
Private Limited Company (PLC)
Limited Liability Partnership (LLP)
One Person Company (OPC)
Partnership
Sole Proprietorship
Nidhi Company
Startup India Registration
Documents required..
Passport size photos of director
Address proof of director
Photo ID proof of director
Specimen signature
Self declaration about your directorship in other companies
Rent agreement of your registered office
No objection certificate from the owner of the property of the property
Aadhaar card
PAN card
FAQ's
What is business incorporation?
Business incorporation refers to the process of legally establishing a company or business entity as a separate legal entity from its owners. It provides limited liability protection to the owners and enables the business to operate independently.
Why is business incorporation important?
Business incorporation offers various benefits, such as limited liability protection, credibility, access to funding, and ease of ownership transfer. It also provides a framework for legal compliance and enables businesses to operate in a structured manner.
What are the different types of business structures available for incorporation in India?
In India, the commonly used business structures for incorporation include Private Limited Company, Public Limited Company, One Person Company (OPC), Limited Liability Partnership (LLP), and Partnership Firm.
What is the minimum number of members required to incorporate a Private Limited Company in India?
A minimum of two members is required to incorporate a Private Limited Company in India. However, recent changes allow for a single-member company called a One Person Company (OPC).
What is the process of incorporating a business in India?
The process of incorporating a business in India involves obtaining Digital Signature Certificates (DSC) for directors, obtaining Director Identification Numbers (DIN), reserving a unique name for the company, preparing incorporation documents, filing the application with the Registrar of Companies (RoC), and obtaining the Certificate of Incorporation.
What is the minimum capital requirement for incorporating a Private Limited Company in India?
There is no minimum capital requirement for incorporating a Private Limited Company in India. The capital can be as low as Rs. 1 or any other amount decided by the shareholders.
Can foreign nationals or NRIs (Non-Resident Indians) incorporate a company in India?
Yes, foreign nationals and NRIs can incorporate a company in India, subject to certain conditions. They can be directors and shareholders of an Indian company, but at least one director must be an Indian resident.
How long does it take to incorporate a business in India?
The time taken to incorporate a business in India can vary based on factors such as the type of business structure, availability of required documents, and processing time at the Registrar of Companies (RoC). On average, it can take around 10-15 working days.
What is the role of a Director Identification Number (DIN) in the incorporation process?
Director Identification Number (DIN) is a unique identification number issued by the Ministry of Corporate Affairs (MCA) in India. It is mandatory for all directors intending to be appointed in a company and is used for various regulatory compliances.
Can the registered office of a company be a residential address?
Yes, the registered office of a company can be a residential address. It is not mandatory to have a commercial or dedicated office space at the time of incorporation. However, certain compliances may apply.
What are the statutory compliances that a newly incorporated company needs to follow?
Newly incorporated companies need to comply with various statutory requirements, such as filing annual returns, conducting annual general meetings, maintaining proper accounting records, complying with tax regulations, and adhering to the Companies Act, 2013.
Can a sole proprietorship be converted into a Private Limited Company?
Yes, a sole proprietorship can be converted into a Private Limited Company. The conversion process involves fulfilling certain legal requirements, such as obtaining necessary approvals, preparing conversion documents, and filing them with the appropriate authorities.
What is the difference between a Private Limited Company and a Limited Liability Partnership (LLP)?
The main difference between a Private Limited Company and an LLP is the way they are structured and governed. A Private Limited Company is governed by the Companies Act, 2013, while an LLP is governed by the Limited Liability Partnership Act, 2008. The liability of the members in an LLP is limited to their agreed contribution, whereas in a Private Limited Company, the liability can be limited to the extent of the share capital.
What are the tax implications for newly incorporated businesses in India?
Newly incorporated businesses in India are subject to various taxes, such as income tax, goods and services tax (GST), and other applicable taxes based on the nature of the business. It is advisable to consult a tax professional for proper tax planning and compliance.
Can I incorporate a business online in India?
Yes, the process of incorporating a business in India can be initiated online through the Ministry of Corporate Affairs (MCA) portal. However, certain documents may need to be physically submitted, and the final approval is granted by the Registrar of Companies (RoC) offline.