New programs are being launched to make the lives of entrepreneurs easy to motivate the emergence of more startups. However, no one can reduce the stress for the launch of a company. While on one hand, there is market research and steps needed to be taken to launch a company in an industry, there is another entire problem of legalization. Private Limited Company Registration in India is not a simple thing and requires complete and compulsory attention towards itself, just like any other business process. However, the stress from the legal department of the company can be reduced. With TaxWink beside you as your legal assistant, Pvt Ltd Company Registration becomes a four-step easy process.
Step One- Digital Signature Certificate
The online application on the official website of the Ministry of Corporate Affairs requires the submission of DSC or the Digital Signature Certificate. The DSCs are needed from all the personnel of the concerned Private firm that is going for the registration. Personnel in a private limited company refers to the proposed shareholders of the company. The certificate authorized by the authority remains valid for a year or two.
The personnel are required to produce documents such as copies of self-attested PAN cards and Address Proofs along with passport size photographs of the applicants.
Step Two- Director Identification Number
DIN or the Director Identification Number is a unique number that needs to be acquired by the directors of the company for the Pvt Ltd Company Registration. And unlike the Digital Signature Certificate, DIN doesn’t come with an expiry date. And thus, the authority needs to be intimated in case of a change in the directors of the private company. It then requires the company to surrender or withdraw the DIN from the ministry.
The documents required for DIN are the same as DSC.
Step Three- Reserve Company Name
Right before the Private Limited Company Registration in India, a company needs to reserve a name for itself. The applicant for this step needs to fill up an e-form INC-1 that requires them to give the ministry six names in the order of preference. The registrar then looks for the availability of the names according to the order and then checks if the name matches with all the conditions. The service is not free but requires the submission of a small fee. The registrar may finalize on one name or even ask for more names with remarks. Once decided, the proposed name for the private company remains booked for 60 days only for trademarking.
- Easy spelling and word
- Identify with the service or product of the company
- Short and uncomplicated
- Should not contain sensitive or prohibited words
- Cannot be a copy or similar to a trademarked company
Step Four- INC (Certification Of Incorporation)
Once the name is reserved, the application for a certificate of incorporation is created immediately. It is the final step for the Pvt Ltd Company Registration and requires the submission of a few documents.
- Simplified Proforma for Incorporating Company electronically forms.
- Memorandum of Association of the company
- Articles of Association
- Address proof like telephone or electricity bills of the registered office address.
- NOC from the owner of the place.
- Rental agreement
- Consent to act as the second director, if any.
- Declaration by personnel and directors
- Self-attested ID proof of the personnel and directors.
You may consider the final step of Pvt Ltd Company Registration complete when you receive the e-certificate. The registrar after satisfactory verification issues an e-Certificate of Incorporation along with PAN number to the company.