What is Business registrati on?
Business registration is the act of formation of business under specific jurisdiction by the following procedure under the laws for the time being in force in India. It is an essential stage to obtain a business registration license. Business registration is so important as it establishes the business as a legal entity. Without business registration, your company cannot be legally considered.
Useful Resources for Business Registration
Why registration is required?
- Good for the economy
- Protection for you
- Protection for your employees and customers
- Creating value against your brand and goodwill
- Raising significant Capital for future growth
Types of Business Registration in India
- Private Limited company (Known as ‘Pvt Ltd’) incorporated under the Companies Act
- Public Limited Company (Known as ‘Public Ltd) incorporated under the Companies Act
- Limited Liability Partnership (Known as ‘LLP’) incorporated under Limited Liability Partnership Act
- One-Person Company (Known as OPC Pvt Ltd) incorporated under the Companies Act
- Partnership Firm (Known as ‘Firm’) formation under Indian Partnership Act
Hindu Undivided Family (Known as ‘HUF’) created under Hindu Law Proprietorship Firm or Individual Firm by registration at local municipal corporation
Steps to register the company under the Companies Act
- Name search and check availability
- Acquire Digital Signature Certificate
- Apply for the company to be registered with prescribed documents and fees
Benefits of Company Registration
- Transferability of business ownership is the major problem in any unregistered company but not in case of the company registered under the companies act
- Registering your company will improve your reputation and perceptions in the eyes of stakeholders. Reputation is built on the bases of the structure of the company.
- Banks and other financial institutes are providing loans and funds very easily rather than provide funds to an unregistered firm.
- Life of a registered company is not depending upon the life of the owner. The company never dies or has an unlimited life after registration.
- Most of the business has its own supplier selection criteria, they are not preferring much any unregistered company as their supplier. Hence, registering your business is an essential checkpoint to meet the supplier’s criteria
Looking for an expert?
Mera CACS provides a wide range of services and complete one-stop solutions for all the Business Registration, Business Maintenance and its Legal Compliances. We can help you with every single step from the starting from registration of the company to its regular compliance for smooth functioning.
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MERA CACS have a team of qualified professionals who drive the companies towards an integration of technology with traditional practices in an autonomous world of law.
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