How to register your startup in India?

By March 15, 2017Business

Are You an intellectual person with a great business idea? you badly want to pursue this idea and want it to grow in a big business some day? Do you want to monetize and earn large revenues from it someday? Well here i have explained how you can achieve it.

Step 1 :
First step from legal perspective is to determine what you are trying to make. You can form a partnership, or a limited liability partnership or incorporate a private company or a public company.

Basis Company Partnership Limited Liability Partnership (LLP)
Number of Members/ Partners
In case of One Person Company – 1; ,
In case of Private Company– 2 (minimum) and 200 (maximum); andIn case of Public Company– 7 (minimum) and unlimited (maximum)
Minimum 2 and Maximum 20 Minimum 2 partners and there is no limitation of maximum number of partners.
is a Separate Legal Entity
YES NO YES
Perpetual Succession (Uninterrupted Existence)
Enjoys the benefit of perpetual succession, members may come and go but the company exists. Exists as per the will of the partners. Does not enjoy perpetual succession. Enjoys perpetual succession, partners may come and go, but the LLP exists.
Cost of Formation
High Low Medium

Summary

STEPS PROCESS TIMELINES
Step 1 Identification of members and directors of the proposed company.
Step 2 Obtain Digital Signature Certificate (Class II DSC) of all the proposed subscriber/directors. They shall be digitally signing the incorporation forms. 2 days
Step 3 Apply for reservation of name of the company in Form INC-1, for approval from the Registrar of Companies. 1 day
Step 4 Arrange all the requisite documents 1-2 days
Step 5 Attach the requisite documents with the form INC-32;
Fill forms INC-33 (E-MOA) and INC-34 (E-AOA) and file the forms electronically on the MCA portal with the requisite fee.
The Registrar, after verifying and scrutinising the forms, shall issue the certificate of Incorporation within 48 hours of filing of the forms, subject to its satisfaction.

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