Company registration in Kerala
A company implies a legal entity established under the principles and guidelines of the Companies Act 2013. It is essential to ensure that you meet all business requirements before starting a business or legal entity. The next step is to select the appropriate type of company registration based on the business and activities of the company.
Can 2 companies have same name?
As an entrepreneur, your legal right to incorporate a company influences each part of your business, including your company name.
If you register your business name as a sole ownership or association, you get the advantages of an entrepreneur, however there is no business name security.
This means that you won’t have to worry about trademark infringement if your company and another one use the same name.
However, if your company uses the same business name as another corporation, you run the risk of being sued and losing your legal right to use that name.
Company registration through online
In spite of the fact that there are relatively few changes to new company registration in Kerala through online process, yet with the presentation of new SPICe+ and Agile Pro forms on 23rd.
In addition, the procedure for incorporation has been slightly altered, and the following actions should be taken in order to incorporate the business:
An application for reserving the Name will be made to Ministry of Corporate Affairs (in this alluded to as ‘MCA’). It should be noted that the MCA Rules will apply to the names that are proposed.
After reservation of Name, an application for acquiring Digital Signature certificate (DSC) for every one of the Shareholders and Directors will be made.
Meanwhile, draft declaration and documents DIR2, INC9, NOC, etc alongside Memorandum of Association (MOA) and Articles of Association (AOA) and on being finalised, the equivalent will be endorsed by the Shareholder and Director.
Finally, application for incorporation will be filed with MCA in SPICe+ and Lithe Expert which are far reaching forms for company registration in Kerala , PAN and TAN allotment are finished.
At the time of filing the application, you must pay the appropriate fee and stamp duty for the state in which you have your registered office.
Likewise, it should be carefully endorsed by a CA/CS practically speaking. Certificate of Incorporation (COI) will be given by MCA and company gets incorporated.
Choosing right type of companies
India permits the registration of a wide variety of businesses, including Private Limited Companies, Public Limited Companies, One-Person Companies, Limited Liability Partnerships, Partnership Firms, and Sole Proprietorships.
It is essential to select the appropriate type of business based on the requirements and goals of your business.
Private limited company
A Private limited company is reasonable for companies that need to raise assets from a set number of investors. It requires at least two directors and two shareholders and has its own separate legal entity. Thus it needs Private limited company registration in Kerala.
OPC
Businesses that want a separate legal entity but only have one owner can use a one-person company. It calls for at least one shareholder and one director. Thus it can have OPC registration in Kerala.
Public limited company
Businesses that want to issue shares in order to raise fund from the public can do so through a Public Limited Company. It needs at least three directors and seven shareholders and has its own distinct legal entity after having Public limited company registration in Kerala.
LLP
Businesses that want to operate as a partnership firm but have a separate legal entity can use a limited liability partnership. It calls for at least two partners.
Sole proprietorship
Businesses that are owned and operated by a single individual are ideal candidates for a sole proprietorship. It doesn’t have a different lawful element and requires no proper registration.
Partnership firm
Businesses that want to operate as a partnership and share profits and losses are best served by forming a partnership firm. It doesn’t have a different legal entity and requires at least two partners.
Benefits
Limited liability
The company’s owners are only responsible for the amount of their investment. This indicates that their personal assets are safeguarded in the event of financial difficulties for the business.
Credibility
Company registration in Kerala provides the business with a feeling of validity and authenticity. It makes it simpler for banks and other financial institutions to provide loans and other forms of financial assistance.
Brand building
The business can develop a distinctive brand identity through company registration in Kerala, which may be protected by trademark law.
Protection
Registered organizations have legal protection under the Companies Act, which furnishes them with the important legitimate form to work and lead business.
Overview
Entrepreneurs who want to start their own business must register their company in India. It gives the business a feeling of authenticity, validity, and security under the law.
The course of company registration includes getting a Digital Signature Certificate (DSC), Director Identification Number (DIN), saving a name for the company, setting up the Memorandum of Association (MOA) and Articles of Association (AOA), and documenting the application for company registration with the Registrar of Companies (ROC).
It’s also important to choose the right kind of business because each kind has its own benefits and drawbacks. Your business’s needs and goals should guide your choice of a company.
There are a number of advantages to registering your business in India, including reduced liability, tax advantages, legal protection, and the development of a brand. Because of these advantages, doing business in India is made simpler for businesses.
It is vital to take note of that the registration process can be complicated and tedious, yet with the right direction and backing, it tends to be a smooth and bother free process.
In conclusion, entrepreneurs who want to start their own business must register their company in India. It provides the company with legal protection, credibility, and recognition.
Entrepreneurs can register their company and take advantage of the advantages of operating a business in India by obtaining the appropriate type of company and the necessary documents.