Starting a foreign company is never easy. Anywhere in the world, there are certain legal paperwork and procedures that must be adhered to. One of these and the very first step is the registration of your company. Whatever type it is, this procedure is not an exemption. And in India, it has its own rules on how to register IT company.
How to Register a Company in India
To register a company, particularly a foreign company, in India is a simple, quick, and an easy process. The guidelines are regulated by the Companies (Registration of Foreign Companies) Rules, 2014. It would generally take about three to ten working days. Then you also have to consider the purpose of your business whether it is for commercial or not.
All companies in India must register through the Registrar of Companies (ROC) which is a department working under the supervision of the Ministry of Corporate Affairs. And to open a company there would be specific India company incorporation steps that investors must do and once done a certificate will be issued.
India Company Incorporation Steps
- Obtaining a Digital Signature – The Ministry of Corporate Affairs requires to apply for a Digital Signature Certificate (DSC), an encrypted key that can be used to sign documents digitally. This can be acquired by visiting the certifying authorities’ website.
- Acquire the Directors Identification Number (DIN).
- Register a unique company name that does not resemble any already operating company.
- Filing Incorporate India Company Forms – This is to acquire the SPICe structure or Simplified Proforma for Incorporating Company Electronically.
- Start registering under the Shop and Establishment Act – This step is to ensure that all companies will comply with local labor laws but can vary from state to state. In some states, this is not mandatory.
- Opening a Current Account – Most of the Indian banks’ flag savings account to be used for commercial purposes. It is best and professional to open a ‘current account’.
- Registering for GST –The Goods and Services Tax (GST) registration is for businesses that involve commercial trade and exchange of goods and services across state borders and a company with an annual turnover exceeding Rs. 20 lakh.
Starting a company especially in India could be great as long as you have all the knowledge of all the legal and bureaucratic challenges and choose the right business structure. 3E Accounting India is the right consultancy to turn to if you need help. They will give you the right advice and support. They have a comprehensive India company incorporation services that can surely help you acquire the certificate and assure you that your investments will grow. So there is no need to wait, get in touch with them, and get your business all started.