There are different types of companies that require registration like:
• Limited Liability Company
• Doing business as(DBA)
Limited Liability Company: This type of company incorporates the features of both partnership and company. Like The Company the owners are generally not personally liable for the company’s debt. However, like partnership it has operating flexibility. Moreover, unlike partnership, members have limited liability. This means that the members are liable only to the extent of their capital. It is fast becoming a popular business choice because of its simplicity and ease of doing business.
Private limited company: It is form of company recommended for start-ups and growing companies as it keeps the funding easy to accommodate and the members have limited liability.
What is the importance of a company registration?
Company registrations are important. Having a company registered provides clients and partners considerable amount of security as they know that one is going to stick around like a professional.
Steps for registration of a private limited company:
Being a default option for start-ups and scalable businesses, it is worth knowing the process of Pvt Ltd Company Registration.
The first step is documentation. In this step scanned copy of passport, pan card, latest bank statement, copy of no objection bill from the owner of the company and utility bill has to be submitted.
The second step is to apply for DSC: DSC stands for Digital Signatures which is used to sign e-forms. It is mandate for the directors of the company.
The third step is to apply for DIN: DIN is an acronym for Director Identification Number. This is mandatory for becoming a director of the company. The application for DIN is to be submitted after the DSC is approved by the Registrar of Company.
The fourth step is the name reserve: Here one has to file a name approval application to trademark that name for the owner of the business. The final step is incorporation whereby all the documents shall be submitted to the Registrar of Company to make the business a legal entity. Thus the Private Limited Company Registration is complete.