Looking for online company registration?
If you’re searching for online company registration and get confused while going through it, you don’t have to worry about your new company registration. We are here with a trusted and experienced team of consultants to provide you with the best suggestions. Pvt Ltd company registration is primarily preferred by startups in India.
What our experts say!
While thinking about registering a company, get the proper knowledge about the types of companies which will create a great impact on your business and its future too. Also, three are easy options to change the type in future but we are excited to help you to get the right type of your company for the first time online company registration.
Different Types of Company As per the Companies Act of 2013
Here is a brief description of the types of business entities found in India through a classification.
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Sr No.
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Criteria
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Types Of Companies
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1.
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Basis on Size
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Micro Company
Small Company
Medium Company
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2.
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Basis on the Number of Members
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One Person Company
Private Company
Public Company
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3.
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Basis on Control
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Holding Company
Subsidiary Company
Associate Company
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4.
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Basis on Liability
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Limited by Shares or by Guarantee
Unlimited
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5.
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Basis on Access to Capital
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Listed Company
Un-Listed Company
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What is Company Registration?
Company Registration is a prior process for business owners to establish or integrate their company. There are multiple kinds of companies in India which are registered by following the legal rules that are regulated by a body called MCA (Ministry of Corporate Affairs). The process of registering a company requires a variety of formalities in India.
Our expert team MK Consultant is pleased to help you to get the company registration within 9 to 12 days without any physical effort, the whole process is going to be accomplished in an online mode.
Types of Company Registration
According to the Companies Act, 2013 there are 7 different parameters to set up a business
Public Limited Company
Company whose shares may be purchased by the members of the general public is called a public limited company. There is no limit to the number of shares that can be sold or for trade in this business entity. The shares of the company are listed on the stock exchange which can be traded to make the shareholders, part-owners of the company. These companies must acquire a certificate of registration from the ROC before initiating company operations.
According to the Companies Act of 2013, the given criteria must be followed to register a Public Limited Company:
1. At least three directors
2. A minimum of one must be an Indian resident
3. Min. Seven shareholders with no cap on the maximum limit
4. With an Authorised capital fee amounting to at least Rs. 5 Lakhs
5. Must have a registered office address within India
Private Limited Company
Businesses that require to register as private entities are suitable for Private Limited Company. The group of shareholders distribute the liability amongst themselves to protect their personal assets, as the total capital of such business is the total shares held by each company member. The shares of the company are not publicly transferred or traded.
According to the Companies Act of 2013, the given criteria must be followed to register a Private Limited Company:
1. Minimum 2 and maximum 15 directors
2. At least one of them must be an Indian resident
3. Minimum 2 and maximum 200 shareholders or members
4. With an Authorised capital fee amounting to at least Rs. 1 Lakh
5. Must have a registered office address within India
Types of Private Company
Limited by Shares : The liability of the members is limited to the normal value of shares owned by them,
Limited by Guarantee : The liability of members is limited by the amount of the members will contribute or guarantee to pay if the company goes bankrupt.
Partnership Firm
Business partners who have shares in profits will handle the operations. The authorities, duties and number of shares held are clearly defined in the verbal contract known as the partnership deed. This type of business falls under the Indian Partnership Act of 1932. Partnership firms can operate with or without a license as long as they have a valid and registered partnership deed. Many of them do register as it gives them additional rights and benefits.
According to the Companies Act of 2013, the given criteria must be followed to register a Partnership Firm:
1. Minimum 2 and maximum fewer than 10 partners
2. Must have a registered office address within India
3. Must have a registered partnership deed signed by all partners
Limited Liability Partnership
It is a new type of company in India, popularly called an LLP. It helps distinguish between personal and business assets, and grants the entrepreneurs limited liability protection. The liability of each partner depends on the number of share capital.
According to the Companies Act of 2013, the given criteria must be followed to register a Limited Liability Partnership, LLP:
1. Minimum authorised capital fee amounting to Rs. 1 Lakh
2. At least one of the designated partners must be an Indian resident
3. Minimum 2 partners and no cap on the maximum number
4. At least one individual partner, if the rest are corporate bodies
5. Each partner must have an agreed contribution with no requirement for shared capital
One Person Company
OPC or One Person Company is suitable for small businesses for the newest entry into the different types of company registration allowed in India. It has separate legal status, without having a partnership with anyone else and gets the benefit of liability protection. It is easy to regulate and involves only one individual which essentially serves as a combination of the sole proprietorship and private limited company model of business entities.
According to the Companies Act of 2013, the given criteria must be followed to register a One Person Company, OPC:
1. Minimum authorised capital fee amounting to at least Rs. 1 Lakh
2. Individuals must be natural Indian citizens and residents
3. Appoint a nominee during the incorporation by the promoter
4. Financial businesses cannot be incorporated as an OPC
Proprietorship
It is described as an individual handling the authority of a business. The company and the owner are considered single entities, which may be solely responsible for increases and decreases in profit and losses. Tax filings, registration, and accounting reports will bear the name of the owner. It is a simple form of business to set up, it is generally preferred by the home businesses which doesn’t involve a huge amount of investment.
Section 8 Company
It is a non-profitable organisation which works for charitable purposes. The purpose of obtaining this business fro promote education, the environment, care for the poor, etc. The profits are spent on the purposes to help their needs and the members will not accept any dividends for themselves.
The given criteria to be eligible for Section 8 Company are
1. Minimum 2 shareholders
2. At least 2 directors can be shareholders as well
3. One of them must be an Indian resident
4. No min. capital required
5. Must have a registered office address within India
Documents Required for Company Registration in Lucknow
The required documents must be submitted by the Directors and Shareholders of the Company, the documents submitted should be readable and original.
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Required Documents
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Scanned Copy of PAN Card
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Scan Copy of Aadhar Card, Voter ID, Passport, Driving License
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Scanned Copy of Latest Bank Statement, Mobile Bill, Electricity Bill with recent Address Proof
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Scanned Passport Sized Photograph
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Registered Office Proof
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Scanned Copy of Utility Bill such as Electricity, Mobile, Landline, Gas, Water Bill
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Scanned Copy of No-Objection Certificate from Property Owner or Whose Name Appears on Such Utility Bill
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What is the Procedure for Company Registration in Lucknow?
Name Approval
Directors have to provide 2 different names which shall be submitted to MCA for approval and out of them, one will be approved. The provided name should be unique.
Application for Digital Signature Certificate (DSC) and DPIN
After the name is approved, applicants have to apply for their DSC (Digital Signature Certificate) to sign the forms digitally.
Submission of MOA and AOA
After DSC is generated, the applicant should need to submit an incorporation application along with MOA (Memorandum of Association), AOA (Articles of Association) and AGILE form for approval.
Get Incorporation Certificate
Incorporation certificate is proof of the registered company the process takes up to 3 to 5 days after submission.
Apply for PAN, TAN and Bank Account
Applicants have to submit AOA, MOA, PAN, TAN, Incorporation Certificate and other required documents to the specified bank to open a current account for business.
Services Provided By Us
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Company Registration
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Trademark Registration
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IEC Registration
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ISO Registration
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GST Registration
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FSSAI Registration
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FAQ About Company Registration in India
What is Director Identification Number (DIN)?
It is an 8-digit unique identification number that comes with lifetime validity which is allotted to an individual who is appointed as a director of a specified company. The use of DIN (Director Identification Number) is to maintain details of a director in a database. An individual can only obtain only 1 unique DIN for a specific company.
It is mandatory to have a GST for a Private Limited Company?
No, The GST number registration is only required for the companies who have an inter-state supply of goods/services and crosses the prescribed turnover limit. Every company should check their prescribed limits are specified under GST laws.
Do I need to be physically present for company registration?
No, the company registration in Lucknow is a completely online process which is done by the expert team of Madhukripa Corporate and Legal Tax Consultants. All the documents are submitted via a digital medium, so you would not take any kind of stress and load by presenting yourself physically. You just have to send scanned copies of all the required documents which are kept with privacy and security by our team.
How many directors are required to open a Private Limited Company?
Yes, a minimum of 2 directors for a private limited company and the maximum number of members can be 200.
Can NRIs/ Foreign Nationals become a Director in a Private Limited Company?
Yes, they can become a director in private limited companies they can be NRIs/foreign nationals respectively. They have to obtain DPIN from Indian ROC. Both can become a shareholder in the company, but at least one of the directors must be an Indian Resident.
How to become a member of a Private Limited Company?
Any individual can become a member of a private limited company including NRI and foreigners. The individual must have 18+ and should have a PAN card.
Which is the best service in Lucknow for online company registration?
Madhukripa Corporate and Legal Tax Consultant are the verified and trusted service for online company registration, trademark registration, IEC registration, ISO registration, GST registration and FSSAI, etc. essential services. Visit our website www.mkcconsultant.com or call us for online company registration in Lucknow.
