Start A Regulated And Recognised Business In India
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Start a regulated and recognised business in India

 
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Business incorporation means registering an organisation under government records to run it an environment frees of legal restrictions. Registration of business ensures that business complies with all rules and regulations specified under various acts including the Companies Act, the LLP Act etc. In India, the Registrar of Companies (ROC) takes care of all business registrations. He as a legal guide, completes all regulations & reporting of companies and its members and also oversees that they duly file all their necessary documents required by government to authenticate incorporation.

To register business name in India, one must have to visit the official website of Ministry of Corporate Affairs (MCA) and have to apply for new business registration. MCA as sole business invigilator deals with complete administration of all businesses running under Companies Act, LLP act and various other allied acts. It is also responsible for regulating running business enterprises and helping new business ideas to get incorporated with no delay in grounded documentation.

Types of Companies

Considering legislations, one must have to choose a specific form of business to get it incorporated as :

ü  Sole Proprietorship: It is a form of business which is run and governed by single          individual. An advantage to this form is that it does not require any registration for               incorporation and the owner enjoys unlimited liability.

ü  Private Ltd Company : It is a restricted form of business in which no right is given to shareholders to transfer their shares, it is incorporated with a minimum of 2 members      required and with a maximum limit of 200 members.

ü Public Ltd Company: It is a form of business which is incorporated in a regulated entity            format having minimum number of members as 7 with no maximum limit. Companies getting applied for shares in the market are generally counted under Public companies.

ü  Unlimited Company : In this form of business, an entity works with a team of members            all having unlimited liability. It runs with a disadvantage of getting personal assets of the members into threat as it is stated that personal assets of the members would be used in cases the business gets into big unsettled debts.

ü  One Person Company : It is a registered form of private company, which includes only              one member as the sole owner and having at least one director (provided that owner could    also declare himself as director).

ü Section 8 Company : These companies are registered to promote science, sports, art,             social welfare, religion, charity, etc. They do not intent to earn maximum profit while             generally these companies work for social causes and are mostly non profit making entities.

ü Nidhi Companies : These companies are generally registered as Non banking finance        companies and are incorporated for increasing saving habit of associated members.

How To ‘Incorporate a Company / Register a Business Name’ Online

²  Name Registration : To register a business name, one must select a specific name related with objects of the company and submit that in Form RUN (Reserve Unique Name) with required fee and authentication of applicant.

²  Reporting of Company Structure : After approval of name, details of company is provided in respective SPICe forms and other related forms along with AOA and MOA of the company. 

²  Getting Certificate of Incorporation : On completion of processing of required forms with digital signatures, a certificate of incorporation is ready to be generated which can be processed further with the help of ROC.

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