Registration of startups
How to get your company Registered
Registering your company is what will finally give your startup a legal existence. Before registering it can be a sole proprietorship or a partnership but once you take the decision to register, your company takes a life of its own and can be closed only by legal intervention.
Now a days we like to get everything done on internet, good news is that you can do 70% of the registration work on internet itself and some offline work is also involved.
Online and offline Work to be done for Registration
Apply for DIN (Director Identification Number)and DSC (Digital Signature Certificate
Amount: For DIN – 100 and for DSC - 400- 2650 (more details -
Time: For DIN 1 Day and for DSC 4 Days
Get Company name approved and get certificate of Incorporation
You have to file basically 4 types of forms to get these two work done, first apply for company name on FORM 1A and wait for the company name approval from ROC(Registrar of Company) and then apply for certificate of Incorporation by filing FORM 1, FORM 18 and FORM 32.
Amount: For name Approval 500, For Certificate 4000- 10000
Time: For name Approval 2 days and for Certificate 7 days
Offline Step 3 to complete Step 2 :
Scanned copies of the following have to be attached with the FORM 1 to get the Certificate of Incorporation mentioned above.
Copy of Form 32 along with consent letters of Directors of the Company
Signed and stamped copies of the Memorandum of Association(MoA) ( 200)
Signed and stamped copies of the Articles of Association(AoA) ( 1000- 4000)
Power of Attorney from subscribers on judicial stamp paper of 100
Identification of subscribers must be attached to Form 1 mentioned above
Step 4 : Apply for PAN(Permanent Account
Number) and TAN (Tax Account Number) for your registered company.
For More detailed explanation on how to apply for the same read this article – APPLY for TAN in 4 easy steps
Website : https://www.tin-nsdl.com/
Amount : For PAN – 94 and for TAN – 62
Time: 7 days
This whole process may take 30-40 days, there are other formalities to be completed like getting a rubber stamp for your company, register for VAT and professional Tax, etc. But unlike Public Limited Company you can start your operations once you get the Certificate of Registration and finish rest of the work simultaneously.