Nowadays, the process of registering a company has become relatively simple and hassle-free. Running a business today is a simple and straightforward process. Registrar of Companies will then record the name of the company into the company’s register and issue the company a certificate of incorporation after receiving various documents (for example, the memorandum of association signed by at least two members, a statutory declaration confirming that the requirements of the Companies Acts have been met).
It depends entirely on the Company Registration Act 2013 under the Ministry of Corporate Affairs as to the price of company registration in India. A company’s registration fees are mainly determined by the number of stakeholders and the number of directors it has.
In addition to the registering charges, expert opinions and authority fees can range between Rs. 1500/- and Rs. 15000/-, as well as state taxes, which vary from state to state.
In accordance with Section 403 of the Companies Act, 2013, any documents submitted and the petition for facts to be enrolled under the Act must be submitted close to the agreement within the specified time frame.
Private Company Registration Fees:
Contents
Among all the types of businesses that exist in India, private companies are the most popular and well-known. Private companies have to register under the company registration law 2013 and the companies incorporation rule 2014. Depending on the number of Directors, a number of shareholders, and other factors, the registration cost of a Private Limited Company could range from INR 5000/- to INR 35,000/-. Amounts contributed by contributors, legal percentage capital, and professional fees.
Nidhi Company Registration:
In terms of the Companies Act of 2013 and the Companies (Nidhi Companies) Rules of 2014, they contain all the provisions related to “joining and running a Nidhi Company in India.” Reserve Bank of India rules and orders are issued additionally for Nidhi companies. These are primarily associated with financial activities and speculations carried out by organizations, including NBFCs. Since “Nidhi Companies” are occupied with the issue of storehouses and credits by their individuals, some exclusions have been made by the RBI for them. A Nidhi Company charges a very reasonable interest rate on advances. These are sought after for various reasons, including the construction/redesign of houses, kids’ education, and so forth. The advancements are provided on security grounds. In contrast with stores in the coordinated financial area, Nidhis stores do not generate much revenue. Depending on expert opinion, the registration fees can range from Rs 12000/- to 25000/-.
Fees for Section 8 company registration:
Section 8 companies are mainly used to promote nonprofit endeavors such as businesses, expressions, religion, instruction, insurance, government assistance, sports, and research. A Section 8 Company in West Bengal must be run by two or more individuals. On the other hand, Section 8 organisations do not require minimum capital.
Benefits of registering a company
If your company is registered, you can enjoy several benefits, some of which are listed below:
Identify yourself legally:
There is a real company with a legal identity. His existence is different from that of his directors and shareholders since he is an artificial man-made by law. It is a legal identity established by law. Assign a legal identity to an individual by using the term “legal person.” Each individual has the right to sue on his own behalf. Stock companies are legal entities with their own rights and obligations. Society becomes a legal entity when it incorporates. It has a broader legal capacity, in that it can own and lend its assets, and therefore individuals within the company are not liable for the debt of the company.
Owning Property:
Property may be acquired, owned, used or designated in the name of the Company. Shareholders are not entitled to own assets of the company since they are not the owners. According to the articles of association of the company, which determine the amount of liability, a shareholder has only a share in the company. The shareholder does not have a profit-sharing role. However, the shareholder is covered by the shareholder agreement. A member of the corporation does not own any commercial property.
Authority to sue:
It is possible for someone to take legal action for his or her own name. The company may also take legal action on its own behalf against another individual as a separate legal entity. Such actions include renaming, merging, and dividing the company.
Possibility of borrowing:
It is possible for businesses to borrow funds. Publicly issued bonds are available for them to purchase. They request financial assistance from banks and other financial institutions.
Documentation needed for registering a company
- The passport.
- Voter ID.
- Ration Card.
- Electricity Bill.
- Telephone Bill.
- Aadhaar Card.
- Driving License.
Conclusion
The act of forming a company protects your business from any type of legal liability and gives you a boost to run it successfully.