Company Incorporation In India and the Need of Professional Help

1. Company Incorporation In India and the Need of Professional Help

2. What is Company Incorporation? When you plan to start your own company, company incorporation is the basic thing you will have to do. For any business that is looking for setting up business in the Indian marketplace, company incorporation is the first step he/she needs to do. It is important because companies Act 1956 states that a company must be registered and formed under the Act.

4. The process of incorporation of company in India • The procedure to register company and setting up a factory in India can be done through the following process: • Suggest the name of the company. • Apply for the Director’s Identification Number and Digital Signatures. • Draft Memorandum and Articles of Association. • Filing of documents with the registrar. • Payment of Fees. • Get a Certificate of Incorporation.

5. Types of Companies in India

6. Types of Companies in India Majorly in India, there are two types of companies private limited company and public limited company. Private Limited Company – A Private Limited Company in India is an organization that is enlisted under the Indian Companies Act, 2013, or any past Companies Act. Public Limited Company – A 'Public Company' is a restricted organization framed with least of 7 individuals and 3 Directors. There is no limitation for the maximum number of individuals in a Public Company.

8. Why doing Company Registration is Important? Protection – If something unusual stuff happens like a fire hazard, financial loss in your business, then not only you but your family will also be in a bad situation. So, to protect yourself and your family, this is an important thing to do. Product/Service –Your company may go bankrupt in lawsuits and due payments because of some accident happening in your company. So, it’s important to safeguard your company by registering it. Raising Money – When your company goes higher level and earns more profit, then you may want someone to invest money in your company. It is possible only when your company has gone through a company incorporation procedure. Read more: Registration of Foreign Companies in India Step by Step Guide

9. How do Business Consultancies help in Company Incorporation? The process of company incorporation procedure in India involves a lot of paperwork, transfer of the large sum of money, government regulations, etc. Further, the legal documentation which is related to the company incorporation procedure could prove difficult for the unfamiliar individual to achieve. It becomes more difficult for a person who does not have an intimate knowledge of the legal business environment in India. For such reasons, it is suggested that while looking for company incorporation, you must take the help of business consultants.

10. Advantages of Taking Professional Help for Company Incorporation By taking professional help from consulting firms in India, one can discover which line of business identification best fits his/her goals in company incorporation, and would then establish the proper company design, which is required with any incorporation. Furthermore, by taking the help of professionals, one can get aware of any demands which will be placed on the business so that he/she will not instantly meet with fines. Business consultants to clients exploring new business opportunities, help them understand legal procedures and assist in networking with local authorities, and create a suitable business model to set up their company in any part of the world. Read more: Things you Need to Know About Incorporation of Company in India

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