India is the world’s second most populated country, with 1.3 billion people. Its economy is quite developed and the business environment has been improved significantly over the years. There are several ways to start a business in India, including setting up a private limited company (PLC) or a public limited company (PLC). In this post we will discuss how to incorporate in India using PLCs and whether it is worth it or not.
Make a List of Possible Name Options
- Make a list of possible name options
- Check the MCA website to see if the name is available
- Choose a name that is easy to remember and spell
Check Availability of the Company Name in the MCA Portal
You can check if your company name is available on the MCA portal by searching for it. If you find it, then proceed with your registration. If not, try another name for your company.
Receive Certificate of Incorporation from the ROC
The ROC issues a certificate of incorporation to register a company in india online after they have been approved by the Ministry of Corporate Affairs (MCA). A company must register with the Registrar of Companies before it can issue its first memorandum of association or articles of association. If your company is incorporated in India, it will also need to file annual returns with MCA under Form 16A and annual audit report under Form 15AA.
The certificate issued by the ROC contains information such as:
- Name, address and date of registration;
- Type (private limited company);
- Status – whether it is registered or not;
The takeaway is that you should be aware of the process, and know what to expect. It’s not as easy as it sounds, but with a little bit of practice you can make sure that your business is properly set up before starting operations. There are many legal documents involved in setting up a private limited company in India, so having an attorney guide you through this process will save time and money down the road.
In conclusion, incorporation of a private limited company is one of the easiest and quickest ways to start a business in India. There are many steps involved, but once you have completed all these steps successfully, your business will be operational immediately. You can look at other options like how to incorporate a limited liability partnership (LLP), which has similar advantages as well but with some drawbacks.
- In What Way Is A Private Limited Company Converted Into A Public Limited Company?
- Public Limited Company In India Registration Requirements
- Conversion Of A Private Limited Company To A Public Limited Company