National capital Delhi is the mother of many startups in India. It is said that because many startups have begun from this place. If you are one of those entrepreneurs who is also thinking about starting a business from this place then you have landed on the very right place. The very first thing which you want is to establish your business for which company registration is important. Registering an entity is easy but to choose the right entity for the registration is an herculean task. Hence we are there to make online registration of a company as well as choosing the right company easy for you.
Types of Company Registration in India
There are various types of online registration of a company available for the businesses but to choose the right one as per your business requirement is your duty. It’s not an easy task to choose the right entity for one’s business, hence experts are there to help you out with the same. The most common entity includes pvt ltd company registration, public limited companies, LLPs, OPCs, partnership firms. Proprietorship firms etc.
Best company cannot be suggested without knowing about the business. It can be decided on the basis of your business as well as your business plan. For instance if you want to start a basic business in a particular place you can start with proprietorship but on the other hand you want to start an IT services business then it’s better to register as private limited. Hence it can be said that to decide the best entity for your business, analu=ysis of your business is really important.
What is the Process of New Company Registration for Startups?
Delhi is considered the startup capital of India where companies get registered every now and then. The procedure of company incorporation in Delhi is not difficult but lengthy. There are a number of formalities that need to be done; if any of them got missed your application will be delayed. For a better understanding of the procedure of registration of company in Delhi read the steps given below:
Check Eligibility Criteria
The very first step under the procedure of registration of a company in Delhi is to check the eligibility criteria. Before applying for registration of the company, check eligibility. Eligibility means and includes a minimum number of directors and shareholders, one Indian resident director, minimum required authorized capital and paid-up capital, registered office, director identification number, digital signature certificate, and proper documentation as prescribed under company law. If anyone does not fit in the eligibility criteria, he or she cannot take registration of a company in Delhi. The best way to check eligibility is to take the help of experts like Startupfino.
Collect Required Documents
The company registration process in Delhi is impossible without having the proper documentation. Documents include the following:
- Proof of Identification of the shareholders and directors
- Proof of address authentication of the shareholders and directors
- Director Identification Numbers that is DIN for each of the company’s directors
- Company’s Directors’ Digital Signature Certificates that is DSC
- Bank account statement
- Business address proof like a rent agreement, property registration certificate, electricity bill, gas bill, telephone bill, etc.
- Every director’s passport-sized photo is required
Apply for Digital Signature Certificate
Applying for the DSC is also part of the company registration process in Delhi As per Information Technology Act, 2000 digital signatures are required to be attached on the documents which are submitted electronically. It assures the safety and legitimacy of the documents. If we see the procedure of registration of a company in Delhi, it is very evident that all the documents are submitted electronically. Hence before filing an application for registration, one needs to apply for DSC.
Apply for Director Identification Number
As it is clear from point two without DIN one cannot register a company in Delhi. Hence next step is to apply for the Director Identification Number. DIN is an 8-digit unique identification number. It is valid for the lifetime of the directors. But it can be surrendered by the director or canceled by the Indian government in certain exceptional situations. One can apply for DIN electronically through the Ministry of Corporate Affairs website which is popularly known as MCA.
Apply for the Name Approval
Any type of bsuiness registration requires a unique name. A unique name means a name that was not already taken by somebody else. Before applying for name approval one can check the uniqueness of the name through the MCA portal. After finding out a unique name, an application for name approval must be filed. Through a single application, up to six name preferences can be given. At a single time, two names will be given for approval. If both of them get rejected, two more chances will be given. If all six names are rejected then again one needs to pay the fees for name approval. Once the name is approved, then within 20 days one needs to file an application for incorporation of a company.
Application for Incorporation
Submitting an incorporation application form which is SPICe, is the last step within the procedure of entity registration in Delhi. SPICe is also known as INC-32. This is not the only form filed for the company incorporation. This form is submitted with certain attachments like INC-33 and INC-34. With these attachments, declarations of professionals like CA, CS, CMA or Advocate will be filed for the confirmation of the compliance of the Companies Act. With this director’s declaration will also be submitted for the confirmation that he or she is not convicted of any kind of offense. Attachments of INC-32 one by one given below:
- Memorandum of Association
- Article of Association
- Professionals’ Declaration
- Directors’ Declaration
Certificate of Incorporation
Once an application for incorporation is submitted final review or examination is done by the Registrar of Companies. Upon verification of the application, if any issue is determined by the ROC, they will raise a query against it. The applicant needs to file the clarification in such a scenario. If ROC finds it well, they will issue a Certificate of Incorporation, which is known as CIN of the company. And here the company registration process in Delhi is completed.
Conclusion
The company registration process for startups in Delhi is a vital process, especially in the increasing culture of startups and simultaneously increase in Startup India Registration. For any kind of business, entity registration plays a very important role. As there are many types of business or entity registration, sometimes people get confused and register their entity in the wrong type. To avoid any such scenario it is always suggested to take the advice of an expert like StartupFino. Choosing the right kind of company as per the business requirement is pivotal. Entity registration grants legal recognition, benefits, and a platform for businesses in Delhi’s dynamic entrepreneurial culture. Hence it must be registered wisely by following the proper procedure of business registration in Delhi.
FAQs
- What is the business registration process for small businesses?
Small businesses can file the document before the Registrar of the companies in whose local jurisdiction their registered address falls, after which verification of the application will be done and if everything is good your entity will be registered.
- Is there any company registration website through which process of registration can be done?
Yes, MCA ( Ministry of Cor[porate Affairs) is the website through which you can complete your registration of companies procedure.
- Is StartupFino helps in the Registration of companies in India?
Yes, StartupFino helps in the registration of the companies in India.
- What are the key documents of registration of Companies?
Basic company incorporation documents include but are not limited to personal identity documents, address proof, business address proof, photo, contact details, email ids etc.
- Can I register my company on my own?
Yes, you can register your company by yourself but be careful even a single mistake can result into rejection of your application.
