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Benefits and Process of Online Company Registration

Online Company Registration

The Advantages & Procedure of Online Company Registration for New Businesses & Entrepreneurs in India

Are you an aspiring entrepreneur and want to start your new business in India? Don’t worry! Online company registration is easy now after the Government has been announced the new procedure. It can be done simply via online MCA Portal. Now, you don’t need to stand in the long queues at the government buildings, you can register your company with just few clicks. Online Company Registration is very beneficial. In this blog, we will discuss about the benefits of registering a company online and its procedure.

Types of Online Company Registration

Before moving ahead with the online registration of your new business, you should know about the various types of online company registration as given below-

Key Features of Online Company Registration

In this section, we will tell you about some of the key features of online company registration. So, while proceeding for the registration of your new business you should keep the following points in your mind-

  • There is a requirement of minimum 2 directors and at least 1 director should be an Indian Resident.
  • For this, no minimum capital will be required.
  • Your business can be register at the residential place also.
  • The process of private limited registration is 100% online.
  • To apply for the registration, the age of the applicant must be 18 years & above
  • You must have to choose a unique name for your company.
  • To register the company, the number of directors can be 2 to 15.
  • Number of shareholders can be up to 200.

Advantages of Online Company Registration

As said earlier there are many advantages of online registration of a new business. So, in this section we will tell you about the various benefits of registering a company online. Here are the advantages:

  • Convenience

Unlike from the traditional method of company registration in which you have to visit the government offices and stand in the long queues, you can do the online registration as per your convenience both from your office or house, and at any time.

  • Time Saving

You can do the online company registration easily by yourself or with the help of professionals like LegalPillers. You don’t need to travel and wait in the long lines at the government offices. It saves your travelling & waiting time.

  • Cost-effective

Online Company Registration is generally more cost-effective that the other traditional ways of registering a company. Online registration can save your additional expenses including transportation costs, printing cost of the required documents and fees of certain paperwork.

  • Faster Processing

As we all know that time is money especially for the entrepreneurs like you. Online registration process of the company is faster than the traditional methods. Once, you have submitted the online application then you just need to track its progress and you can focus on your core activities. In this method, you will get the incorporation certificate quicker.

  • Security

The priority of the online registration platforms is to secure your data so that your sensitive information will remain protected.

  • No paperwork

There is no need of any paperwork for the online registration of your business due to which this method of registration is also an eco-friendly method.

  • Transparency in process

In this method of registration you will track your application yourself providing the transparency in the process.

These are some of the benefits of registering a company in India via online platforms. So, it is better for you to opt for the online registration method for your business rather than the traditional methods. It will be beneficial for you. It is also very important to register your company with any other business structure, for the purpose of digital company formation.

Procedure of Online Company Registration

The process of online registration of a company includes the different steps which are as given below-

Step 1: Planning & Documentation

Before going for the registration, you should have to decide the structure of your business and make sure that you have all the required documents accordingly.

Step 2: Apply for DSC 

As the company formation process is 100% online, hence all the directors of the company must need a DSC i.e. Digital Signature Certificate. It will be obtained within 24 hours & includes the 3 simple verifications which are Document Verification, Video Verification and Phone Verification. 

Step 3: Name Approval

After that, you should apply for the name approval via SPICe RUN. You should remember that the name of your company must be unique and does not identical to any other existing name. You can check the availability of the name on MCA portal.

Step 4: Filing the SPICe Form

After the name approval you should fill the SPICe Form for the company registration. This form mainly includes the following details-

  • Details of the company
  • Details of the directors & shareholders
  • Application of the DIN i.e. Director Identification Number
  • Application for PAN & TAN of the company
  • Declaration by the directors & subscribers
  • Declaration & certification by the professionals. 

Step 5: Filing of MoA & AoA

You should file the SPICe e-MoA & e-AoA forms at the time of registration. In MoA, you should have to define the goals & objectives of your company. In AoA, you should have to define the rules & regulations related to the management & internal structure of your company.

Step 6: Issuance of PAN, TAN, & Incorporation Certificate

PAN, TAN, & Incorporation Certificate of your company will be issued by MCA (Ministry of Corporate Affairs) after the approval of the documents mentioned above. 

Step 7: Bank Account Opening

At last, you must have to open a current bank account in the name of your company using the above documents.

Documents required for Online Company Registration

For Directors

  • Copy of Aadhaar Card of all the directors
  • Copy of PAN card of all the directors
  • Email address & contact number of all the address
  • Passport size photo of all the directors
  • Updated bank statement of saving account of all the directors (not older than 2 months)
  • Copy of passport of directors (in case of foreign national or NRI)

For office address

  • Electricity bill of office address (not older than 2 months)
  • Rent agreement of office (if available)
  • NOC given by the Office Owner

Why LegalPillers is the Best for Online Company Registration?

If you are an aspiring entrepreneur and want to start a new business so first step that you should follow is  the  registration of the company. The online process of company registration is easy now with LegalPillers. Here are the reasons why you should choose LegalPillers to register your business-

  • Convenience & Acessibility

The online company registration for your business with LegalPillers is very convenient and can be done from the comfort of your own home & offices. Our user-friendly platform allows you to complete the registration process of your business online, eliminating the need of paperwork & personal visit to the government offices.

  • Time & cost saving

Generally the traditional methods of company registration is lengthy and with hefty expenses. LegalPillers ill provide you the time & cost effective service of company registration. As the process is completely online so it minimize the paperwork and saves the transportation time & expenses. Additionally, our transparent costing ensures that you know exactly what to except, with no hidden charges.

  • Team of Experts

LegalPillers will provide you the online registration service of your business with the help of our experts. Our team of professionals provide you the proper guidance with their expertise in this field. We have the solutions of your all queries and complete your registration process on time. Our experts will simplify the company registration process for you.

  • Secured Documents

Your privacy is our priority. Sometimes people think that it is not safe to submit their important documents on online platforms but you don’t need to worry as LegalPillers will keep all your sensitive documents secured.

  • Technology

LegalPillers have the latest technology to make the process of registration of the new businesses easy & simplify. Clients will get an efficient experience of company registration.

  • Good Track Record

LegalPillers has the good track record of providing exceptional services to register the company and client satisfaction. We have thousands of happy customers for the company registration.

Conclusion

As Online Company Registration is very beneficial, so, if you want to start your new business you should opt for online registration. This method is better for the entrepreneurs rather than the traditional methods of registration. To reduce the stress of the new entrepreneurs government has introduced the method of online registration of their new businesses via online portal of MCA i.e. Ministry of Corporate Affairs.

If you want to register your company online but confused about the process of the registration, LegalPillers is here to help you with its team of professionals. Our experts are eager to serve you to fulfill your dream. 

 

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