7 Steps for opening a company in India

Opening a company in India looks like a challenging job to accomplish. Yet, the benefits of starting a new business reap to the profit for both the economy and company in the long run. With multiple entities seeking to start their business, some things need to be kept in mind before registering the business. Considering this as important, we have come up with the most important fundamental steps required for registering your business in India.

1. Checking the name availability of the company

Before registering your company or anyone's company, first check if the company name that you have selected is available or not. This can easily be checked online, applicants only need to visit the MCA 21 website and need to check the availability of their desired company name. Once the website name is approved it will appear on the website.

2.Acquiring a Director Identification Number (DIN)

A DIN (Director Identification Number) is the special Identification number given to potential or any existing directors of the organizations that are interested in opening business in India.

3.Obtaining a Digital Signature Certificate

A digital signature is a medium that helps to identify and validate the holder of the certificate. The agency which is registered with the ministry is eligible to issue this certificate. A permanent address, application form, and identity proof need to get submitted by the directors of the company when they apply for the DSC in the process of opening a company in India.

4. Acquiring an Incorporation Certificate

Ministry of Corporate Affairs provides this incorporation certificate to be shown as a proof for the constitution of the company. These forms need to get filled on the Ministry of Company Affairs website to submit the application.

5. Formulating a Company Seal for official documentation

The use of the company seal is to put a seal over the documents to inform that the documents belong to you. It is one of the most important parts when you look at opening business in India. The cost of the company seal depends on the words engraved on it, the time period of delivery of the seal, and the number of seals issued. But, the need for the company seal for the private company is not important.

6. Stamping

The application must have the company's incorporation documents stamped and also it should have Memorandum and Articles of Association unsigned copies attached with the payment receipt. There needs to the online payment of stamp duty for these types of documents to the registrar of companies.

7. Obtaining a PAN

For the application of Permanent Account Number, filling of 49A Form is needed. Once you get the PAN online the hardcopy of it will be sent to your registered address by the official post. The application of the PAN can be done online but the documents need to be sent for the physical final verification.

The process of opening a company in India has a lot of registration steps. To understand more get in touch with DBPL. We'll help you in establishing your company in India.