Step-by-Step Guide to Registering a New Company in India
Setting up an online startup in India has become more accessible due to digital advancements. This guide provides a detailed procedure to help you navigate the company registration process smoothly.
1. Obtain a Digital Signature Certificate (DSC)
Purpose: A DSC is required for signing documents electronically.
How to Obtain: Obtain a DSC from a certified agency. This step is crucial for directors and key personnel involved in the registration process.
2. Acquire Director Identification Number (DIN)
Purpose: A unique number assigned to directors for identification.
How to Apply: Apply directly through the Ministry of Corporate Affairs (MCA) portal. This step is often integrated with the company registration forms.
3. Choose and Reserve a Company Name
Purpose: To ensure your company’s name is unique and compliant with regulations.
How to Do It: Use the MCA portal to check name availability and reserve your preferred name for the company.
4. Prepare Required Documents
Documents Needed: Memorandum of Association (MOA), Articles of Association (AOA), proof of the company's registered office address, and identification documents for directors.
How to Prepare: Draft and gather all necessary documents. Ensure they are signed and ready for upload during the online registration process.
5. Register on the MCA Portal
Purpose: Submit your company registration application and documents online.
How to Register: Create an account on the MCA portal. Complete the SPICe form (Simplified Proforma for Incorporating Company Electronically) and upload all required documents. Pay the registration fees through the portal.
6. Pay the Registration Fees
Purpose: Covers processing costs based on your company’s authorized capital.
How to Pay: Fees vary and are paid online as part of the registration process on the MCA portal.
7. Receive the Certificate of Incorporation
Purpose: Formal confirmation of your company’s legal existence.
How to Get It: Once your application is processed and approved, the Registrar of Companies (RoC) will issue an electronic Certificate of Incorporation.
8. Apply for Permanent Account Number (PAN) and Tax Deduction at Source (TAN)
Purpose: PAN is needed for tax purposes while TAN is required for tax deduction at source.
How to Apply: Apply for both PAN and TAN through their respective online portals or alongside the company registration process for convenience.
9. Register for Goods and Services Tax (GST)
Purpose: Mandatory if your startup’s turnover exceeds the GST threshold or if you are involved in taxable activities.
How to Register: Complete GST registration through the GST portal providing the necessary details and documentation.
10. Additional Registrations if Applicable
Purpose: Depending on your business, you might need other licenses or registrations such as professional tax, shop and establishment license.
How to Obtain: Follow local regulations and obtain any additional registrations required for your specific industry.
Conclusion
Registering an online startup in India has become a streamlined and efficient process thanks to digital platforms. By following these steps—acquiring necessary certifications, preparing and submitting documents online, and completing the registration procedures—you can ensure your business is legally established and ready to operate. This modern approach not only simplifies the process but also accelerates your startup’s journey from idea to reality.