Business Registration
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Services we provide under Business Registration
- Private Limited Company
- Limited Liability Partnership
- One Person Company
- Sole Proprietorship
- Nidhi Company
- Producer Company
- Partnership Firm
Online Company Registration in India – An Overview
Setting up a private limited company is one of the highly recommended ways to start a business in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. An LLP has partners, who own and manage the business. Whereas in private limited company registration, directors may be different from shareholders.
Checklist for Private Limited Company Registration in India
As defined by the Companies Act, 2013 one must guarantee that the checklist requirements are met without fail.
Two Directors:
A private limited company must have at least two directors, with a maximum of fifteen. A minimum of one of the company’s directors must be a resident of India.
Unique Name
The name of your pvt ltd company must be unique. The suggested name should not match with any existing companies or trademarks in India.
Minimum Capital Contribution:
There is no minimum capital amount for a Pvt ltd company. A Pvt limited company should have an authorised capital of at least ₹1 lakh.
Registered Office:
The registered office of a pvt ltd company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NOC is obtained from the landlord.
How to Register a Company in India – The Company Registration Process
Company registration in India benefits startups since it offers them an advantage over those who have not registered. The process of registering your company is complex and involves many compliances. However, you needn’t worry as long as you have Spinach Laws as our professionals can help you with every step of the private limited company registration process.
- Step 1: Obtain DSC
- Step 2: Apply for the DIN
- Step 3: Application for the name availability
- Step 4: Submission of MoA and AoA to register a private limited company
- Step 5: Apply for the PAN and TANof the company
- Step 6: RoC issues a certificate of incorporation with a PAN and TAN
Documents Required for Online Company Registration
In India, private limited company registration cannot be done without proper identity and address proof. Listed below are the documents accepted by the MCA for the online company registration process:
Identity and Address Proof
- Scanned copy of PAN card or passport (foreign nationals & NRIs)
- Scanned copy of voter ID/passport/driving license
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned passport-sized photograph specimen signature (blank document with signature [directors only)
Registered Office Proof
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned copy of notarised rental agreement in English
- Scanned copy of no-objection certificate from the property owner
- Scanned copy of sale deed/property deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence too.
Limited Liability Partnership Registration Online – An Overview
Limited Liability Partnership (LLP) combines the benefits of a partnership with that of a limited liability company. In India, it took shape after January 2009 and was an instant success with startups and professional services. The idea behind LLP was to provide a form of business that is easy to maintain and benefit owners with limited liability.
Eligibility Criteria
To be eligible for LLP company registration in india, one should meet the following criteria:
- At least two partners are required to form an LLP (no upper limit)
- If a body corporate is a partner, a natural person must be nominated to represent it
- Each partner must have an agreed contribution towards the shared capital
- LLP should have an authorized capital of at least ₹1 lakh
- At least one designated partner should be an Indian resident.
Documents Required for LLP Registration
The following LLP registration requirements has to submitted while registering the firm
The partners has to provide the following documents:
- PAN card or passport (foreign nationals or NRIs)
- Aadhar card/ voter’s ID/ passport/ driving license
- Latest bank statement/ telephone bill/ mobile bill/ electricity bill/ gas bill
- Passport-size photograph
- Blank document with specimen signature.
Note: One partner must self-attest the first three documents. In the case of foreign nationals or NRIs, all the documents must be notarized (if currently in India or a non-commonwealth country) or apostilled (if from a commonwealth country).
For the registered office:
- Utility bills
- Notarized rental agreement in English
- No-objection certificate from the property owner
- Sale deed/property deed in English (in case of owned property).
How to Register an LLP Online with Spinach Laws
You can register LLP online through Spinach Laws . While we make LLP registration a simple 3-step process for you, the actual registration process is elaborate and is explained below for your knowledge:
Step 1: Obtaining DSC And DIN
All the forms that need to be submitted online require the directors’ DSC. So, the first step in the process is to get DSCs and DINs for 2 partners. We collect the necessary information from you and file it on your behalf.
Step 2: Application For Name Approval
Simultaneously, we check if the name you want to register under is available and reserve it for your LLP. You can check for name availability in the MCA portal.
The approval of the name will be made by the registrar only if the central government does not deem it undesirable. The name should not hold any resemblance to any of the existing partnership firms, LLPs, trademarks, or body corporates.
Step 3: LLP Agreement
The next step is to draft the LLP agreement and other documents for registration. An LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. Thus, our experts take utmost care in drafting this agreement.
The partners enter into the LLP agreement upon registering the LLP by filing Form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.
Step 4: LLP Incorporation Certificate
Our team will file the necessary forms and documents with the registrar. Once the registrar approves all the forms and documents, you get your LLP incorporation certificate and are almost set for running your business.
Step 5: Apply for Your PAN, TAN, & Bank Account
As soon as you get the incorporation certificate, we will apply for the PAN, TAN, and bank account for your LLP.
The following are included in Spinach Laws LLP Registration in India package:
- DSCs for 2 directors
- DINs for 2 directors
- Drafting of MoA & AoA
- Drafting partnership agreement
- Registration fees and stamp duty
- Company incorporation certificate
- PAN and TAN registration.
We also assist with the following to register a LLP company in india:
- A first free consultation, followed by subsequent support to clear every concern you may face
- Complete support on opening a current bank account
- Comprehensive and on-time updates on ROC compliances
- Online accounting software valid for one year
- A master file that contains all the documentation needed to file the incorporation
- You will also get a zero balance current account – powered by DBS bank.
Overview of OPC Registration in India
The Companies Act of 2013 supported the formation of one person company in India. It governs the registration and functioning of one person company in India. In comparison with a public company a private company should have at least two directors and two members however on the contrary one person company doesn’t need any group of people to be incorporated. Up until recently, a company could only be incorporated by a group of people. An organisation with a single owner is known as a one-person company in India. Only two people could form a company prior to the implementation of the Companies Act of 2013.
As per the Section 262 of Companies Act of 2013 and official registration of a one person company in India is legal. Registering a One person company in India requires a single director and a single member representing the whole form. This corporation type has very few compliance requirements in comparison with a private corporation.
Documents Required for One Person Company Registration
- Passport or PAN card
- Passport size photo
- Specimen signature
- No objection certificate
- Rental agreement
- Address proof of directors
- Identity proof of directors For NRIs and foreign nationals, a passport
- Voter ID
- Drivers License
- Updated gas or electricity bills
- Bank account statements, and phone bills for mobile or landlines
- A sample signature.
Documents Needed for OPC Company Registration
A scanned replica of a current bank statement
You can access bank statements online through internet banking or by visiting a bank location. Account statements and transaction summary statements are other names for them that are frequently used.
An electricity or gas bill, a phone bill, and a mobile bill
Utilities costs typically cover electricity, gas, water/sewage, and rubbish disposal. Since they are now considered ordinary in the majority of Indian households, other services like internet, cable TV, and phone services are occasionally regarded as extra utilities. The price of utilities can vary widely, largely depending on your region, the temperature where you live, and your usage patterns. Hence these are also submitted as important documents for OPC registration.
Rental agreement in English transcribed in a digital format
Rental agreements are usually handed over as hard copies to the tenants. This has to be scanned and provided to the authority for documentation.
A landowner’s no-objection certificate transcribed in a digital format
This document is from the landowner of the specific land. Every company must always maintain a registered address for the corporation under Section 12 of The Companies Act. When a business is incorporated in India, the registered address is provided as an attachment to the spice+ form. However, if the business’s address changes after incorporation, a Form INC-22 notification of the new registration address of the company must be submitted to the ROC.
A property or sale deeds scanned copy in English language (if the property is owned)
A sale deed is a legal document used in real estate transactions to prove the purchase and transfer of property ownership from the seller to the buyer. This is the primary ownership transfer paperwork. A sale deed is sometimes known as the conveyance deed or the final deed.
How to Incorporate a One-Person Company in India
- Check the eligibility and documentation
- Request DSCs and DINs for each director
- Submit a request for a name reservation Form Spice+ for company incorporation
- Apply for PAN and TAN for your new business
- RoC issues an incorporation certificate with a PAN and TAN
- Open a bank account and begin your business.
The whole process for registering a one person company can be completed in a time span of just 20 days. All you have to do is reach out to Spinach Laws and complete the process with no delay.
Checklist for One Person Company Registration
- Maximum and minimum membership requirements must be met
- There should be a nominee chosen before incorporation
- Use Form INC-3 to request the nominee’s approval
- The Companies (Incorporation Rules) 2014 mandate that the OPC name be selected
- Minimum authorised capital of ₹1 Lakh
- DSC of the potential director
- Evidence of the OPC’s registered office
What is a Sole Proprietorship?
When a business is owned and governed by one person, it is called a sole proprietorship company. This type of business can be incorporated in fifteen days and hence makes it one of the most popular types of business to begin in the unsystematic sector, specifically among merchants and small traders. For a Sole Proprietorship business, registration is not required as it is identified through alternate registrations, such as GST registrations. However, its liability is unlimited and it also doesn’t have perpetual existence.
Checklist Items for a Sole Proprietorship Registration
- A certificate/license issued by Municipal authorities under the Shop & Establishment Act.
- The license issued by Registering authorities like the Certificate of Practice is issued by the Institute of Chartered Accountants of India.
- The registration/licensing document is issued in the name of the proprietary concern by the Central Government or the State Government Authority/ Department, etc,
- The banks may also accept the IEC code (Importer Exporter Code) issued to the proprietary concern by the office of the DGFT as an identity document for opening of the bank account etc,
- Complete Income Tax return online (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated and acknowledged by the Income Tax Authorities,
- The utility bills such as electricity, water, and the landline telephone bills in the name of the proprietary concern,
- Issue of GST Registration/Certificate.
Compliances Required For Sole Proprietorship Firm
Some of the compliances that apply to a sole proprietorship include the following:
- Income Tax Return Filing: The proprietorship’s business owner must submit a personal income tax return using form ITR-3 or ITR-4
- Business Income: Only the ITR-3 and ITR-4 income tax forms allow for the declaration of business income. As a result, in order to comply with income tax requirements, all proprietorships must submit forms ITR-3 or ITR-4
- GST Return Filing: If a proprietorship is registered for GST, a filing GST return each month and every three months in accordance with the business’s registration plan
- TDS Returns: Tax must be withheld at source and TDS returns must be filed quarterly if the proprietorship has employees or spends more than a specific amount on goods and services.
In addition to the mentioned points, the proprietorship may also need to comply with additional regulations according to its industry and region.
What Are The Documents Required For Registering A Sole Proprietorship?
To start a Sole Proprietorship, the following documents are required
- Address and identity proof
- PAN card, KYC documents and
- Rental agreement or sale deed (in case of Shops & Establishment Act Registration).
What Are The Documents Required For Opening A Current Account?
To open a current account, the following documents are required;
- Proof of the existence of your business
- Shops & Establishments Act Registration
- PAN card
- Address and Identity proof
Proprietorship Vs Limited Liability Partnership (LLP) Vs Company
| Features | Proprietorship | Partnership | LLP | Company |
|---|---|---|---|---|
| Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
| Ownership | Sole Ownership | Min 2 Partners Max 50 Partners | Designated Partners |
For One Person Company
|
| Registration Time | 7-9 working days | 7-9 working days | 7-9 working days | 7-9 working days |
| Promoter Liability | Unlimited Liability | Unlimited Liability | Limited Liability | Limited Liability |
| Documentation |
| Partnership Deed |
|
|
| Governance | – | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
| Transferability | Non Transferable | Transferable if registered under ROF | Transferable | Transferable |
| Compliance Requirements | Income tax filing if turnover is more than ₹.2.5 lakhs | ITR 5 |
|
|
What is Nidhi Company?
It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of the Companies Act 2013. The main business of such a company is to facilitate lending money between the core members of the company. This way, members (or shareholders) are encouraged to save money and invest them within the company. The company then uses these deposits for its members (or shareholders) to provide loans or advances and to acquire government-issued stocks/bonds/debentures/securities. It is regulated by the Ministry of Corporate Affairs, while the RBI monitors all its financial dealings.
What Is the Checklist for a Nidhi Company in India?
- At least seven members are mandatory to form a Nidhi registration. Out of these, three should be designated as the directors. However, it should acquire a minimum of 200 members within one year of commencement.
- Moreover, the company should have a minimum equity share capital of Rs 5 lakhs, for the Nidhi company registration process. This entire amount has to be paid up. However, the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of Nidhi Registration.
- a.At least 10% of its outstanding deposits should comprise unencumbered term deposits
- b.The prescribed NOF to deposits ratio should be 1:20.
This includes equity share capital and free reserves and excludes accumulated losses as well as intangible assets.
- At least 10% of its outstanding deposits should comprise of unencumbered term deposits
- The prescribed NOF to deposits ratio should be 1:20. where 10% of the total deposits are in a fixed deposit account of a nationalized bank.
Documents Required for Nidhi Company Registration Online
To Be Submitted By All Directors
- Self-attested copy of PAN Card is very important for e nidhi registration process
- Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport is very important for e nidhi registration process
- Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill is very important for e nidhi registration process
- Passport-size Photograph is very important for e nidhi registration process
- Specimen Signature Certificate is very important for e nidhi registration process
Nidhi Company Registration Fees in India
Nidhi company in India’s registration charge is a very simple and easy process. The main thing you need to do is to find a good Company Registrar who can help you with the whole process. You can easily find a Company Registrar in your locality. After finding a good Company Registrar, the next thing you need to do is to fill up the required forms and pay the required fees. The fees for registering a Nidhi company in India are very nominal. You can easily find the required forms and pay the fees online. Once you have registered your Nidhi company in India, you will be given a Certificate of Incorporation. This certificate is very important and proves that your Nidhi company has been registered in India. After getting the Certificate of Incorporation, as per Nidhi company compliances, you can start operating your Nidhi company in India.
Nidhi company registration fees in India Nidhi companies must pay a Nidhi company registration charge in India. The Nidhi company registration fees vary from state to state but are typically between ₹5,000 and ₹10,000. In addition to the Nidhi company registration charge, Nidhi companies are also required to pay an annual maintenance fee as Nidhi company compliances, typically between ₹1,000 and ₹2,000.
Farmer producer Company – Overview
A Producer Company was introduced in India with the Companies Act, 2013. It gives persons engaged in activities related to producing (what has been grown or produced, particularly by farming) the opportunity to form a company. A farmer producer company can be formed by 10 or more producers (persons involved in, or in activities related to, produce or growth), two or more producer institutions or a combination of 10 or more producers and producer institutions. Such a company can only have equity capital, require a minimum of five directors and an authorised capital of ₹ 5 lakh. The procedure for forming a Farmer Producer company is similar to the one for forming a private limited company.
Types of Farmer Producer Company
Production Businesses
The main functions of producer companies are production, procurement or manufacture of any primary produce for its members (for further sale) and to others.
Marketing Businesses
Even a business involved in the marketing or promotion of primary produce or provision of educational services to members and others can constitute itself as a farmer producer company.
Technical Service Businesses
Any business offering technical assistance to producers, providing training and educational services or conducting research and development can register as a producer company.
Financing Businesses
Any business financing producer activities, be it in the production, marketing or development domain, can register itself as a farmer producer company.
Infrastructure Businesses
Businesses involved in providing infrastructure to producers, whether in the form of electricity, water resources, irrigation techniques, land utilisation, or consultation with regard to the same, may constitute themselves as a producer company.
Documents Required for FPO Registration
TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS
- Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
- Scanned copy of Voter’s ID/Passport/Driver’s License
- Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Passport-size Photograph
- Specimen signature (blank document with signature [directors only])
Note: Any one of the directors must self-attest the first three documents. In the case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).
FOR THE REGISTERED OFFICE
- Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Scanned copy of Notarised Rental Agreement in English
- Scanned copy of No-objection Certificate from property owner
- Scanned copy of sale deed/Property Deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence, too.
Overview – What Is Partnership Deed?
A business established by two or more partners with the goal of achieving a profit is called a partnership firm. There are benefits to registering a partnership firm. The legal document used to establish a partnership company registration is known as a partnership deed.
The Indian Partnership Registration Act of 1932 is the primary governing partnership registration law in India. A partnership, as defined by the law, is a union of individuals who have consented to divide the profits from a company that they all, or any of them, act for a banking business. A partnership can only have a maximum of 10 members, whereas for other enterprises, it can have a maximum of 20 members.
While the partners are separate legal entities, partnership firms are not. A partnership company registration is not permitted to be a debtor, creditor, or property owner. According to the law, the assets, liabilities, and credit of a partnership registration firm belong to the partners. To prevent future misunderstandings, the partnership agreement must specifically state how profits and losses will be distributed among the partners. Each partner is allowed to conduct business on behalf of the others.
Given its low expenses, simplicity of setup, and lack of stringent compliance requirements, it makes sense for some businesses, such as home-based ones that are unlikely to go into debt to register themselves as partnership firms. General partnerships have an optional registration process. To draft a current original partnership deed registration format, get in touch with our Spinach Laws experts right away. If there are fewer than two partners after a partner’s death, incapacitation, or resignation, the partnership company registration will be dissolved.
How to Register Partnership Firm? – Procedure
Step 1: Submit a Registration Application
The Registrar of Firms in the state where the company is located must receive an application form and the required fees. All partners or their representatives must sign and verify the registration application.
Step 2: Choosing the Name of the Partnership Firm
A partnership firm can be referred to by any name. But make sure they abide by the rules—for example, no two names should be the same, nothing related to the government, etc.
Step 3: Registration Certificate
The firm will be registered in the Register of Firms and given the Registration Certificate if the Registrar is pleased with the registration application and supporting documentation. All firms’ most recent information is available in the Register of Firms, which anybody can access for a fee.
Partnership Deed Format
The legal options available to the firm’s partners are summarised in a partnership deed format. It should cover:
- Each partner’s obligations, rights, and liabilities are governed by it
- The deed contains all of the terms and circumstances of the partnerships, which is very beneficial in preventing misunderstandings between the partners
- The partnership deed will be simply referred to in the event of a dispute among the partners, making a resolution simple
- The partners’ misunderstanding of how to split losses and receive reimbursement for earnings
- Explains the part played by each partner
- The partnership deed will also include sections that specify the amount of compensation that shall be paid.
Types of Partnership Firm In India
These are the two different kinds of partnerships.
Joint Venture at Will
A partnership by will is one in which the partners haven’t made any agreements regarding how long their partnership will last or how it will be decided.
Specific Partnership Registration
A specific partnership occurs when one person joins forces with another person in a specific business enterprise or for a specific business venture or undertaking, such as building a road, laying railroad tracks, etc. This kind of collaboration will dissolve after the task for which it was initially formed is finished.
Tax Compliances After Obtaining Partnership Firm Registration Online
- After the registration process for the registration of partnership firm is officially initiated, the partners of the aforementioned partnership firm must receive PANs (Permanent Account Number) and TANs (Tax Deduction Account Numbers) from the IT department
- No matter how much money is made or lost, a partnership firm in india must file an ITR (Income Tax Return)
- In the case of a register partnership firm, the total income will be taxed at a rate of 30% plus an additional income tax surcharge
- Furthermore, a tax audit must be performed by all partnership firms with a yearly revenue of over ₹100 lakhs.
Businesses that generate more than ₹40 lakhs in annual income must register for GST online (₹20 lakhs in the case of the north-eastern states). However, businesses involved in e-commerce, market place aggregation, and export-import must register for GST in order to operate.
After registering for GST, the concerned firm is required to submit monthly, quarterly, and annual GST returns. Partnership firms must also submit their quarterly TDS (Tax Deducted at Source) returns, which must deduct tax at source in accordance with the applicable TDS rules and have TANs.
Last but not least, all partnership firms must obtain an ESIC registration and file an ESIC return.
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