There are various options for company registration in Chennai. Private Limited Company registration, in particular, involves several steps like obtaining Digital Signature Certificates, Director Identification Numbers and drafting Memorandum and Articles of Association. Once approved, this registration offers several advantages, such as limited liability, perpetual succession, and a transparent, credible business image. One more thing you have to focus on before incorporating a company in Chennai is which type of company will be suitable as per your business plan. Only after deciding this, start incorporating a company in Chennai. The current blog will discuss things with respect to the private limited company registration in Chennai. This is because it is the most preferred entity among entrepreneurs.
What is the Incorporation of a Company?
Incorporation of a company is the procedure of incorporating one’s entity with the ROC, or the registrar of the firm, with the assistance of the Ministry of Corporate Affairs. Considering an online process, it can easily be completed while sitting at home. But that does not always mean that every person can. To avoid getting your application turned down, you simply can do it through a professional.
A private limited liability company registration needs to be completed by a professional with experience in a way that guarantees your application will not be denied. The steps for incorporating a company in Chennai are the same as those required to establish a business in any part of India. There is an identical platform for company incorporation throughout the whole country; consequently, it is not different for Chennai.
Types of Company Incorporation in Chennai
There are various types of companies that can be incorporated in Chennai. Before incorporating a company in Chennai, one must be aware of the types of entities that can be registered in Chennai. The list of those companies is given below:
- Private Limited Company
- One Person Company
- Public Limited Company
- Limited Liability Partnership Firm
- Banking Companies
- Government Companies
- Private Companies
- Holding Companies
- Subsidiary Companies
Process of Private Limited Company Registration in Chennai
The step-by-step procedure to get private limited company registration in Chennai is given below:
- The very first step is to prepare a DSC, which is a Digital Signature Certificate. DSC for both directors, as well as shareholders will be required
- The second step is to get or obtain a Director Identification Number of all the directors of the company
- Start searching for a unique name for the company
- After finding a unique name, apply for name approval with the help of Spice+Part A
- Prepare a draft of both the MOA and AOA of the company
- Once the name of the company is approved, start with the form Spice+Part B
- Complete the forms and submit them to ROC with the help of the Ministry of Corporate Affairs
- Pay the necessary fees for the incorporation. The amount depends on the authorised capital of the company.
- The Registrar of Companies (ROC) in Chennai will verify your application.
- If everything is in order, they will approve the incorporation.
- Once the registrar of companies approves the application for registration, a Certificate of Incorporation will be issued
- This certificate signifies that your company is officially registered.
- After getting the certificate of incorporation, apply for the PAN and TAN of your company
- Open a bank account for the company
Important Things Regarding Private Limited Company Registration
There are several important things with respect to the incorporation of a private limited company in Chennai. One of them are mentioned below for your reference:
| Company Registration in Chennai | Details |
| Mode of Registration | The process of incorporating a company in Chennai is online, and one can complete it with the help of the online portal of the Ministry of Corporate Affairs |
| Cost of Registration | It is approximately 8999/- + professional fees+ Stamp duty+ other hidden charges |
| Time Taken | It will take around 15-20 days in the incorporation of a company |
| Minimum Members | For the incorporation of a private limited company in Chennai, a minimum of two directors is required |
| Paid up Capital | For the incorporation of a private limited company in Chennai, the minimum required paid-up capital is Rs.1 lakh |
| Required Documents | Adhaar card, PAN card, Business address proof, bank account details of the directors, Email and phone number of the directors and shareholders of the company |
| Registration Authority | Such kind of incorporation can be done before the registrar of companies or ROC |
Benefits of Incorporating a Company in Chennai
There are various advantages, or we can say benefits, of incorporating a company in Chennai. Some of them are given below:
- Perpetual succession of the company, which means a company will remain forever
- Separate legal identity is one of the important advantages of incorporating a company in Chennai
- Limited liability is there which is beneficial for both companies and their members
- It is an associated body
- Such kinds of entities are transparent, which attracts customers and helps the business grow
- Creates reliability in the customer base in the market
- Provides credibility to the company
- Goodwill is created by the incorporation of a company in Chennai
- Easy registration process through an online platform
- Have common seal
- Can work all over India
Conclusion
Incorporating a company in Chennai offers a promising path to business success. It is because of the city’s numerous opportunities and thriving corporate environment. This blog primarily focuses on private limited company registration. It is a popular choice among entrepreneurs. The incorporation process involves registering your entity with the Registrar of Companies (ROC) through the Ministry of Corporate Affairs. While it’s an online procedure, it’s advisable to opt for a professional like CA, CS or Advocate assistance. In order to ensure a smooth registration process. Overall, the process requires careful consideration and adherence to regulatory requirements. But the potential benefits make it a worthwhile endeavour for aspiring entrepreneurs in Chennai.
