In India, companies can be registered as private limited companies and public limited companies. It can also be registered as limited liability partnerships or one-person businesses. One of the most widely recognized ways to start a business in India is to form a private limited company. Once you've chosen to establish a business, the first and most important step is to choose a suitable business structure for registration. Many elements, including your business name, your duty to firms, and how you submit your taxes and statutory dues, are influenced by the structure you choose. 

Benefits Of Company Registration In Chennai

We may start our business from any part of the country. However, the process for applying for registration of a Private or Public Limited Company remains the same on a PAN India basis. One has to apply for company registration by filing the SPICE+ form through the MCA portal.

The advantages of forming a company registration in Chennai are numerous. It can help your business in the following courses:

• It shall be treated as a separate legal entity.
• More clients would be attracted to the firm;
• The company will increase brand awareness;
• A worldwide reach may be achieved with the use of a company's body structure.
• Dealing with manufacturers, industries, vendors, and consumers more effectively;
• A corporation can claim or be sued in its own name. The entrepreneur's name will not be cited.
• Entering a business atmosphere makes it simple to set oneself apart from others.
• Ensures a higher level of capital contribution and stability.
• Increases the possibilities for development and expansion; 
• It makes it easier to obtain bank financing and investment from reputable investors.

Requirements For Registering A Private Limited Company In Chennai

Minimum 2 members are required

There must be at least two members and directors in a private limited company

Company to be registered in India, and a business can have up to 15 directors. The presentation of a passport and other documentation is required if the shareholders are foreign nationals. However, a company may exceed the number of directors beyond 15 by passing a special resolution in the meeting of shareholders.

Distinct Name

The business name should be distinctive, and the suggested name should not be identical or similar to any established business. You should also check the trademark registration to make sure the name isn't identical to any registered or pending trademark in India. Any provision of any intellectual property legislation in India shall not be violated by the company's name. The name must not be in violation of India's Copyright Act or Trade Marks Law. Further, it should be kept in mind that the name is in consonance with THE EMBLEMS AND NAMES (PREVENTION OF IMPROPER USE) ACT, 1950

Capital Expenditure

Costs should be considered as per the business's needs, and there is no minimum capital need for a corporation. However, the government fees get determined on the basis of the amount of authorised capital mentioned at the time of incorporation.

Registered Address

A business facility is not needed for the registered office. Even rental property can be used as a registered office with the landlord's permission.

Process Of Company Registration

Company Name Approval

The first step to a company registration is to apply for a name reservation. For applying for a name reservation one has to apply for it through SPICE PART A. While applying for a name reservation one has to make sure that the proposed name should not resemble any existing companies. Further, there should not be any trademark reserved on the proposed name. The MCA site may be used to check the availability of a company's name.

Application For Digital Signature Certificate

The application for a Digital Signature Certificate is the second stage in the company registration process (DSC). A digital signature certificate (DSC) is a legally binding document that is used to verify data. The digital signature certificate is often used to sign electronic documents. As a result, remember to apply for a Digital Signature Certificate from a registered certifying authority

Filing Of MOA and AOA

The memorandum of association and articles of association must be filed online by the business registration applicant. The filing of these documents would offer legal clarity on the company's establishment. The Ministry of Corporate Affairs Portal must be used to complete this process.

PAN and TAN applications 

Following the completion of all documents, the applicant should consider applying for a PAN and TAN number.

Incorporation Certificate

After the preceding steps have been completed, the MCA and ROC will assess the application. And if no problems are found, the applicant will be issued a certificate of incorporation. The certificate of incorporation is a legal document that grants the corporation legal standing.

Documents Required For A Company Registration

• Directors' PAN card or passport copy (Foreign Nationals &NRIs)
• 2 passport-size photos of the company's directors ID Directors' proof, like Aadhaar cards or voter identity cards
• Copy of rental agreement or property paperwork with verification of address
• The company's electricity or water bill
• NOC from the landlord if the office is rented
• A copy of the sale deed or property deed in the case of personal property
• Foreign nationals are required to produce a notarized copy of their passport. Only legitimate papers should be presented. The evidence of residency documentation, such as a bank statement or an electric bill, must be less than two months old.
• Proof of Registered Office

Conclusion

Company registration plays an important role in India for any type of company, be it private or public limited companies. It also acts as the same in LLPs or One-person companies. Online legal India provides its customers with all types of company registrations at an affordable price.

The experts of Online legal India are always there to help their customers with the best services. You can get your company registered under the supervision of legal professionals. Get the best services at your fingertips.

A Private Limited Company Registration is one of the most popular legal structures for enterprises in India. Typically, start-ups and potential businesses choose to register as private limited companies. Because it makes it easier to obtain outside capital.