To register your startup company, require documents, business structure, necessary permits, register relevant to authorities.

How do I register my startup company?

Introduction  –

To register your startup company, required documents, choose business structure, obtain necessary permits, register relevant to authorities. In this, a lot of people have to come in the business field, so where to start this is a problem. Today we will know why it is necessary to register any company and what are the benefits of registering, we need to have basic knowledge about it. In this, your ability to run management and the courage to grow your business also matters.

Talking about India, most of the business proprietorship firms like to register. There is no hassle to go ahead with this, but it is always good to have basic knowledge of all the registrations, so here we will work to give you information by analyzing different types of business registration and its advantages and disadvantages.

According to the Companies Act 2013 of India, the company which is registered under this law, which is a group of persons and artificial legal person, in Company registration, which there is no change in the existence of the company due to the absence of any person, which has a common seal of the company. It is called a company if it is accountable according to the conduct of the transaction, the shares to be transferred and the shares.

This means that proprietorship and partnership firms do not come under this interpretation, but they are also a business. Their accountability is limitless, but in this business, there is only one owner or the number of partners in the partnership has unlimited responsibility. Separate laws have been made for that, which we will see in detail later. Under US law, all businesses are covered by the definition of a company.

As we have seen Proprietorship and Partnership Firms, it is different from other company and in legal language, it is not called a company, yet we call it a company, further, we will see different types of business registration and will see the advantages and disadvantages of registering it. By this you will get the basic knowledge that which registration would be right for us and which registration is good for us for the development of our company.

Proprietorship Firm  –

To Register Proprietorship Firm

  • Registration as per Shop and Establishment Act (State Laws)
  • Goods and Services Tax – GST Registration
  • Udyog Aadhaar Registration through Ministry of MSME

Most of the businesses in our country are run by such registrations which come under the jurisdiction of the local states and have a small scope. Common people find this registration system good and simple. The income received by this is recorded as personal income. The rules of the Companies Act are very strict and therefore small traders give priority to this registration.

Features of Proprietorship Firm –

The companies created in this registration are under the jurisdiction of one person, so the interference of another person does not remain in it. The identity of the company is linked to the identity of the person who started the company as he is the authoritative signatory in all the dealings of the company.

Capital in this company is put by a person, even if he takes money from the bank and invests it in business, but in the company it is shown by his name. In a proprietorship firm, the liability of the company owner is unlimited, so when the company sinks or runs into losses, its debts are met from the personal property of the owner of the company.

When the company is involved in any legal process, then its process is under the common law, their specific laws have been made to run other companies, due to which justice is delayed.

Partnership Firm  –

When we have a shortage of capital or we want to do business by making an expert person of that field in which we want to do business, then we register this type of company, for this we first of all have to make an agreement between the partner. It is necessary to have and its registration is also done under the Shop and Establishment Act.

A separate law was made for this, under which it is good to register a partnership, but many partnership firms do not do this. For this it is not mentioned necessary to register in the partnership firm law, so many companies do not register in it, but it is good to register it at any time while running the business so that future problems do not arise.

  • Registration as per Shop and Establishment Act (State Laws)
  • Goods and Services Tax – GST Registration
  • Udyog Aadhaar Registration through Ministry of MSME
  • Registration under Partnership Act (Not Compulsory)

Features of Partnership Firm –

  • Two or more persons come together to do business for the same purpose, make a partnership deed, in which all the rules of business are decided, rights, shares, damages, responsibility are fixed, after that the company is registered. .
  • Partnership Firm It is not strict to register under the Partnership Firm Act, it remains for the decision of the Partnership Firm, but registering the company in the Partnership Firm Act is good for the future.
  • The profit or loss of the company is according to the capital share,, according to that the winning stake has been fixed in the agreement of the company.
  • As in the proprietorship firm, the liability of the owners towards the transactions of the company is unlimited, which is limited to the companies under the Companies Act.
  • Who will have the rights of the company, it is decided according to the partnership deed.
  • The company has to issue a separate PAN card, which is the owner of the same person in the proprietorship firm, so the PAN card is used for its own registration, but for the partnership firm, the PAN card has to be issued in the name of the company.

One Person Company  –

This company can form a one person, company under section 2 (62) of the Companies Act 2013, earlier only a proprietorship company could form a person under the Shop and Establishment Act, but this provision has been made by making amendments in the Companies Act. By being registered in the Companies Act, the protection of law can be more than the Proprietorship Company and the company can start its business under this law anywhere in India.

Process  :

  • DSC & DIN of all directors
  • register company name
  • Company Incorporation of ROC
  • PAN and TAN of the new company
  • bank account

Features of One Person Company –

  • This company is a one person company, it is different from the proprietorship company because it is registered under the Companies Act.
  • It can be a member or other shareholder in the company like there are members in the other private company.
    As its character is known  by the name itself, it is a one-person company, so it is mandatory to give the name of its nominee at the time of registration.
  • Perpetual succession in another company under the Companies Act, this rule does not apply in this company and on the death or incapacitation of the person, the nominee of the company decides whether to carry on the company or not.
  • Many provisions in the Companies Act give benefits to those running a one person company, which other companies do not get.

Limited Liability Partnership Firm (LLP) –

The Limited Liability Partnership Act, 2008 Under this law, this company is registered as the original partnership firm and an important difference in this is that the liability / responsibility is limited and the responsibility of the action of one partner in the partnership firm is also given to the other partner. Have to lift

This does not happen in this company and the responsibility is limited. In today’s era, many professionals like to make this form because it has been made by mixing good features of both types of companies.

Procedure of LLP –

  • DSC Registration for Designated Partners
  • DPIN Registration for Designated Partners
  • A Company name that must be unique
  • Partners Agreement Registered
  • Proof of Company Register Office
  • Bank accounts.

Features of Limited Liability Partnership Firm (LLP) –

  • Unlike a partnership firm, the partner’s liability is limited in this company.
  • This company is registered under this Act, The Limited Liability Partnership Act, 2008.
  • In this company Limited Company and Partnership Firms get the qualities of both these companies.
  • LLP is a separate legal entity that can file a case in the name of the company.
  • This is a rule for a partnership firm to have a minimum of two partners and a maximum of 20 partners, but there is no such limit for an LLP company.

Private Limited Company  –

Private Limited Company It is formed under the Companies Act and it is a separate legal entity that means it can perform its functions as a legal person. It is smaller than limited company, but bigger than the other company, but it cannot bring capital from outside. It has more complications than the rest of the companies given above.

Procedure of Private Limited Company –

  • DSC Registration for Directors
  • Check Company Name on MCA Portal
  • MOA and AOA approval
  • incorporation certificate
  • MCA to PAN and TAN Application
  • bank accounts

 Features of Private Limited Company –

  • Shares of Private Limited Company The owners of the company decide to whom the shares are to be given or not, they are not for selling in the listed company market. There are at least two shareholders in a private limited company and there are at least 7 shareholders in the listed company. Happens.
  • Compliances to form a company are less than a listed company.
  • The liability of shareholders is limited, not having to depend on private property if the company becomes insolvent.
  • Private limited company has less management than a listed company but has more management than other types of company.

Joint Venture Company –

Joint Venture Companies registered under the Companies Act, in which the company also does a joint venture or the person also comes in the joint venture. For this ROC has to be registered. In this, mainly outside companies access and network Indian companies to establish their business in India.

In India also such joint venture is done with two companies or individuals, group of individuals. In this, the liability of the shareholders is as much as the shareholder’s liability towards the loss of the company.

Public Limited Company  –

These companies are the largest companies and can also take their shares from the capital stock market. The process of its incorporation is very long, so there are companies to register these companies which process all this. For companies that want to raise capital from the market, the process of listing, prospectus, process of IPO, for these things, some companies provides such services which will complete all this process.

Features of Public Limited Company –

  • Any ordinary investor can buy the shares of a public listed company in the stock market, which means the shares of these companies can be sold or bought openly in the market.
  • In the event of the death of any of the shareholders or directors of the company, no matter the functioning of the company, the company continues to operate.
  • The initial paid up capital for a public limited company is at least Rs 5 lakh.
  • The identity of a public company is different from the shareholders, directors of the company, in the capacity of a legal entity that can sue anyone.
  • A public company has the resources to raise more capital than another company, it can raise money from the market through shares, debentures, banks, etc.

American real estate businessman and author of the famous book “Rich Dad Poor Dad” Robert Keiosky says that a person asset is a liability and if a property is bought on behalf of a legal entity, then it is a real asset.

For this, we have to understand what is a “legal entity”, in order to save tax and reduce the risk, we have to do the registration of the company registration given above, which is a legal entity, in which the registration coming under the Companies Act Act. It is necessary.

Due to lack of information about it in India, most of the people start a proprietorship company or partnership company which takes less government paper, but no one explains what are the benefits of registering in the Companies Act by law.

Conclusion –

In this way, we have seen that there are many ways to form a company, which gives you different facilities under different laws. Whoever wants to build that type of company with his ability. One thing to note in these is that the more compliance you have with the government, the more resources you have to build a capital for the company.

Under the registration of Company Act there is a company registered LLP, ONE person, company, private limited companies and public listed companies are regulated.  Under Partnership act there is partnership firms are registered and regulated whereas every state’s has Shop Act Establishment Act which regulate smaller businesses which is unlimited business risk liabilities.

The number of Proprietor Sheep and Partnership company is found in us more here, but the more you want to make the company bigger, you will have to do more government compliance, it is a fact. If you want to grow your company, then it is very important to process all this. I hope the winning information was successful in giving you more information than I gave you here.

What are the original documents of a property?

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