How To Open Your Company? How To Register? Complete Details

Here we discuss all the information about How to open your company. and how to register. We discuss this in brief. You need to follow the steps to open your own company and register it. Stay connected till the end of this article for full information.

Registering your company officially is the first step towards a successful business life. Today, the entire process of how registering a company in India has shifted online, and the recent changes to the procedure and rules may make new business owners confused about all the steps involved in company registration. In this blog, we will highlight and provide a step-by-step guide to how to register a company name.

How to Open your company?

1. Make a business plan.
2. Secure funding.
3. Surround yourself with the right people.
4. Follow the right legal procedures.
5. Establish a location.
6. Develop a marketing plan.
7. Build your customer base.
8. Plan to change.

How to register it?

Follow these steps to Register your own company:

Step 1: Apply for Director Identification Number (DIN)

The first step towards the company registration process begins with obtaining a unique Director Identification Number (DIN). According to the Companies Amendment Act 2006, DIN is required for any person who wishes to register a company or become a Director of an existing company.

Also Read: What Is Sole Proprietorship? How To Register Your Company?

Step 2: Apply for Digital Signature Certificate (DSC)

The registration process of a company requires every business to acquire a Digital Signature Certificate (DSC). DSC is a legislation requirement for submitting various forms to the Government.

Step 3: Company Name Approval

Apply for company registration Form must be submitted on the MCA portal.

Step 4: Company Incorporation Application Submission

After the approval of the name, it will be reserved for twenty days, within which the company must fill out the Form and submit it online. The applicant must furnish the details of the company and director of the SPICe+ Form, attach documents, attach DSC, and submit it.

SPICe+ is the form used for the registration of a company in India under the Companies Act 2013.

Documents Required Under Companies Act 2013 

Firstly, the members have to decide who shall be the directors of the company. For every director, the following documents are required. 

1. PAN card copy
2. Address proof  (Aadhaar Card Passport, electricity or telephone bill (not older than two months)
3. Passport size photograph (hard copy as well as soft copy)
4. Email ID mobile no.
5. Current occupation
6. Educational Qualification
7. Verification 
8. Digital signature of all directors

Characteristics of a company

• Incorporated Association: The Companies Act requires that a company be incorporated or registered. In the event of a ‘public Company,’ the minimum number of members required is seven, whereas in the case of a ‘private Company,’ the minimum number required is two.
• Artificial Person – It’s a very important feature of a Company that the Company is an artificial person. A company is known as such type of artificial person because the Company is created by law and destroyed by law.
• Limited Liability – One of the main advantages of trading through a limited company is that the company members are only accountable to a limited extent for the payment of the company’s debts.

Types of companies

• Private Company – A Private Limited Company must have a minimum of two members, which can be increased to a maximum of 200 at any time. The above-mentioned statutory limit must be followed at all times.
• Public Company – The Public Company has no upper restriction on the number of members. However, a minimum number of participants is required. A public company with seven members has been established, and companies that are listed on the stock exchange are examples of public companies.
• One-Person Company – One type of private limited company where only one member is required to form a company. In OPC, there is only one member at any time during its existence.

Advantages Of Company

• Liability for shareholders is generally limited.
• The shares of the company held by the shareholders can easily be marketed in the stock market.
• The existence of the company is unaffected by the members.

Disadvantages of Company

• Setting up a company is cumbersome, and it involves several stages starting from the promotion, which is an expensive job.
• The long hierarchy of the organization delays the decision process etc.
• The directors sometimes work towards the furtherance of their interests.

We discuss all the information about how to open your company and how to register in proper detail. just follow the steps we have shared in this article to open and register your company. If you have learned something from this article then stay tuned to Cinemas Updates for more new updates.