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Company Formation in India
Company Formation in India
Starting a company is the first step toward turning your vision into reality, where your ideas, dedication, and ambitions come together to build a thriving business.
While the process of setting up a company in India may seem complex, it becomes much simpler with trusted experts guiding you at every stage. With Guidewell International by your side, you can smoothly navigate the entire journey, allowing you to focus on growing your business while we handle the rest.
Guidewell International offers a comprehensive range of services tailored to your business needs. We provide both pre- and post-incorporation assistance to ensure your operations run effortlessly. Our core offerings include:
- Consultation for Business Set-Up
- Company Incorporation
- Ongoing Support After Incorporation
- Bookkeeping Services
- Tax Compliance Assistance
- Audit and Assurance Services
- Payroll Management
- Strategic Tax Planning
- Assistance with Various Registrations (FSSAI, MSME, Trademark, IEC, LEI, etc.)
- Customized Solutions to Meet Your Specific Requirements
Private Limited Company
Introduction
Private Limited Company is the preferred choice for business setup in India; It’s loved for its easy registration, fewer hassles with rules, and smooth closure process.
This type is more popular among new businesses and growing companies, giving shareholders limited liability while delivering beneficial features. It’s the cornerstone for many successful companies.
Minimum Requirements
| Requirements | . |
|---|---|
| Capital | No minimum capital requirement |
| Subscribers/Members | 2 Minimum / 200 Maximum |
| Directors | 2 Minimum / 15* Maximum |
| Authorized Representative | Required in case of wholly owned subsidiary. |
| Resident Director | At least 1 director who stays in India for 182 days during the financial year and each of the subsequent financial year. |
More than 15 persons can be appointed as directors by passing a Special Resolution
Limited Liability Partnership
Introduction
LLP is a hybrid form of entity blending the characteristics of a Company and a Partnership. Within this structure, partners enjoy limited liability, restricted to their agreed contribution amounts. This shields their personal assets from implications in instances of insolvency or bankruptcy, offering a protective framework for collaborative ventures.
Minimum Requirements
| Requirements | . |
|---|---|
| Capital | No minimum capital requirement |
| Designated Partner | 2 Minimum |
| Authorized Representative | Required in case of for foreign Company. |
| Resident Designated Partner | At least 1 designated partner who stays in India for 120 days during the financial year and each of the subsequent financial year. |
Public Limited Company
Introduction
A Public Company is an entity that extends ownership to the general public through freely tradable securities. It presents an opportunity to raise funds for business expansion by allowing public investment. These securities are accessible through methods like Initial Public Offers (IPOs), over-the-counter exchanges, and trading on national and international stock exchanges, providing broad accessibility and potential for investment growth.
Minimum Requirements
| Requirements | . |
|---|---|
| Capital | No minimum capital requirement |
| Subscribers/Members | 7 Minimum / 200 Maximum |
| Directors | 3 Minimum / 15* Maximum |
| Authorized Representative | For Foreign Company |
| Resident Director | At least 1 director who stays in India for 182 days during the financial year and each of the subsequent financial year. |
More than 15 persons can be appointed as directors by passing a Special Resolution
Woman Director:- Certain public Companies are required to have at least 1 woman Director
Step of Incorporation
Step 1: Obtain a Digital Signature Certificate
Step 2: File Relevant Form for Approval of Name
Step 3: Draft Chartered Documents
Step 4: File Relevant Form for Incorporation
Step 5: Deposit Subscription Amount into Bank by Subscriber
Step 6: File Relevant Form for Commencement of Business
Deliverables
- Digital Signature Certificates
- Certificate of Incorporation
- Director Identification Number/DPIN
- Tax Registration :
- a) Permanent Account Number (PAN)
- b) Tax deduction / Collection Account Number (TAN)
- Permanent Account Number
- Tax Deduction / Collection Account Number
- Permanent Account Number
- Memorandum Of Association & Articles Of Association
- Share Certificates
Documents Required
- For Directors / Shareholders / Members / Authorized Representatives
- Permanent Account Number (Mandatory for Indian residents)
- Passport (Mandatory for foreigners)
- Voter ID /Driving Licence/Passport (any one) – Identity Proof
- Bank Statement/Electricity Bill/ Telephone Bill (Not older than 2 months) – Address Proof
- Photograph Passport Size (3.5 X 4.5 cm)
For Registered Office:
i) If Owned by Promoter/Director
- Ownership Deed / House Tax receipt
- Utility Bill (Not older than 2 months)
ii) If Rented
- Rent Agreement
- No Objection Certificate from Landlord
- Utility Bill (Not older than 2 months)
For Foreign Entity
- Certificate of Incorporation of the Foreign Entity
- Address Proof for the foreign company – Bank Statement / Utility Bill (not older than 2 months)
- Board Resolution for Incorporating a Subsidiary in India
Information Required - For Directors / Shareholders / Members / Authorized Representative
- Father’s Name
- Place of Birth
- Duration of Stay at Present Address
- Occupation
- Educational Qualification
- Email Id
- Mobile Number
FAQs
1. What are the forms of establishing a company in India?
Entrepreneurial aspirations among youngsters are rising along with the growing middle class in India. Moreover, technology has opened up many business opportunities and made starting and managing a business easier. Therefore, it is more rewarding than any other time to start a business in India. Following are the points we need to keep in mind for starting a business in India:
- Choosing a business
- Business entity registration
- Bank account opening
- Tax registration
2. What are the laws under which you can carry out the registration of your business?
The respective governing laws under which you can carry out the registration of your business are:
- The Companies Act, 2013
- The Indian Partnership Act, 1932
- The Limited Liability Partnership Act,2008
3. What are the benefits of company formation in India?
The benefits of forming a company in India are as follows:
- It protects you from personal liability for business risks and losses
- It makes you look serious and attract more customers
- Creates better image and credibility in the market
- Easier to get bank credit and investment from investors
- Creates faith in employees and easy to draw a talented workforce
- It is very convenient to exit or sell the business due to less documentation and cost.
4. What are the requirements for registering a company in India?
As defined by the Companies act 2013, the requirements for registering a company in India are as follows:
- Two directors
- Unique name
- Minimum capital contribution
- Registered office
5. What documents are required for the online registration of a company in India?
The documents which the MCA accepts for the online company registration process are listed below:
- Identity and address proof:
- Scanned copy of PAN card or passport
- 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
- Registered office proof:
- Scanned copy of the latest bank statement/telephone or mobile bill/ electricity or gas bill
- Scanned copy of the notarized rental agreement in English
- Scanned copy of no-objection certificate from the property owner
- Scanned copy of sale deed/ property deed in English
6. Can a foreign national incorporate a company in India?
A foreign national can incorporate a company in India provided another person stays in India for a total period of not less than 182 days during the financial year which shall be counted as resident director.