The leading trend of entrepreneurship has attracted peoples in India too. People nowadays don’t want to stick to those old and boring 9 to 5 jobs but want to incorporate their company. Starting a business is not a walk in the park. It is quite a tedious process, and the first hurdle in this is registering your private limited company.
Registering a business is quite a confusing process as because of the various government formalities. Here is a brief guide that wills surely going to aid you to get your private limited company registered.
Registering for DIN and DIC
The first and foremost steps of registering your private limited company are by obtaining the DNC and DIC number that provides your business with a unique identity. The details about both are explained.
DIN stands for the director identification number and is a unique number for the person who wants to act as manager of the company. To have your DIN, you need to apply online and provide the website your personal information that includes your qualifications, address, and many things. The hard copy of the whole form should also be sent along with the incorporated documents to the ministry of company affairs for their assent.
DSC is a digital signature certificate which proves your identity as the owner of your company. The registration for DSC also requires all your personal information and the procedure is same as that of DIC.
Name of the company
The DIN provides a unique number for the company that acts as its identity for the government. The consumers or those who somehow take your business’s services recognize you by your business name. The company name serves as a trade mark and for your business and registering your desired name is also crucial.
The company has to select six different names according to their priority index and should also check that any other company does not already register the name they want.
After selecting the priority list of your business name and checking its availability, you should register the company name.
Selecting your business guidelines and objective
It is the most crucial part of registration as it describes the field of work that your business will work in. For this, the companies need to draft the memorandum of associations (MOA) and the article of partnerships (AOA). These are the sets of rules that are being defined by the government for the companies to act on. These also provide the state with the objectives and the way of working for the enterprise.
Completing the formalities
Completion and submission of every form are also important as they prove that you abide according to the policies of the government in running your company. The types are registered with the registrar of companies (ROC) that includes INC-7, INC-22, and DIR-12. These forms include the enclosures affidavits, identity proof, signature verifications, no objection certificate (NOC), letter of appointment, etc.
Paying the fees and duties and verification
All your registration process is incomplete unless you don’t pay the taxes and charges set by the ministry of company affairs. The MOC web portal lets you pay all the fees and duties online. When the registration is complete, your company’s forms are verified by the MOC, and they may ask for some modifications before they finally check them and put their assent on it.
Once all their formalities are done and are sent to MOC. The MOC verifies them and issues a digital certificate first which act as an authentication of your company and after this, your company is ready to operate and work.