What is the Process to Register a Company in Agra?
If you want to start a business or an enterprise in Agra, India, then ensure your company is registered because company registration in India must be your first priority under Ministry of Corporate Affairs (MCA). The initial procedure which every entrepreneur should follow is go for a private limited company, one person company (OPC) or section 8 company.
Let's know about Different Types of Company Structures in Agra
There are more than one sort of company formation or registration, we have explained all of them in detail below.
Private Limited Company
It is a privately held small business entity. A private limited company has a minimum of 1 and a maximum of 59 shareholders. Remember, a private limited company cannot publicly trade its shares. The liability of members in a private limited company is limited to the number of shares held by them. Get private limited company registration in Agra from Expertbells.
Public Limited Company
A PLC has a minimum of 3 directors, 7 shareholders and can have a maximum of unlimited shareholders. It has a separate legal existence and the liability of the members is limited to the shares they own. Incorporating such types of business entities can be time consuming and a bit tough. But, the online public limited company registration process is completely safe and less time consuming.
Limited Liability Partnership
This structure was formed to provide limited liability to its owners. The company act 2008 provides LLP the freedom to manage its own affairs. A LLP is easy to form as well as easy to become a partner. In limited liability company registration, two or more persons that come together with the purpose of creating a legal partnership to provide products and services with the limitation of each individual's financial risk.
One Person Company
One Person Company (OPC) was introduced under the Companies Act 2013, in favor of those individuals who have the ability and skills to run a business successfully. The shareholders in OPC have limited liability protection. Incorporating or registering an one person company is quite easy.
Section 8 Company
Remember, a Section 8 Company is like a Non-Profit Organization (NPO). The main objective of this type of company is promote arts, commerce and many different forms of social welfare including education, charity and religion.
Documents Required for Company Registration in Agra
Documents required for limited company registration in Agra are mentioned below.
1. PAN card copy of directors
2. ID proof of directors like Aadhaar card, Election card, Driving license and Passport copy.
3. Residence address proof of each director like bank statement, bank passbook with last two months entries, electricity bill, mobile bill postpaid.
4. One photo of each directors.
5. Place of business proof in India like Electricity bill, landline bill, gas bill or mobile bill.
6. Affidavit from both directors on Rs. 100 stamp papers.
What is the Procedure for Company Registration in Agra?
Here are the steps for Company Registration in Agra.
Step 1: Application of DSC and DPIN
The partners have to apply for DSC and DPIN. Digital signature is an online signature that is used for filing and DPIN refers to directors PIN number issued by the ministry of corporate affairs. If the directors have already DSC(Digital Signature Certificate) and DPIN, then they can skip this step.
Step 2: Company Name Approval
You must provide 3 different name options to MCA and one of them will be approved. Names provided must be unique and suggestive of your business.
Step 3: Submission of MoA and AoA
Once your company name is approved, you need to draft MoA and AoA. Both of them are filed with the ministry of corporate affairs (MCA) with the subscription statement.
Step 4: Get Incorporation Certificate
Generally, it takes between 2 and 3 weeks to form a private limited company and get the incorporation certificate. Also, incorporation certificate is a proof that your company has been formed and includes your CIM number.
Step 5: Now apply for Pan and Tan
PAN and TAN can be obtained in 7-10 working days. Post this, you can submit the incorporation certificate, AoA, MoA. and Pan with a bank to open your company bank account.
What are the Key Benefits of Company Registration in Agra?
1. Separate Legal Entity:
Once your company is registered in Agra, it is known as a separate artificial person in the eyes of law plus the liability of each member or shareholders is limited upto the unpaid amount of shares. That means in case the company faces loss, then shareholders are not liable to sell their own assets for payment.
2. Easy to Manage and Run
The process of registering a company can be done within 7 to 10 days. It provides flexibility in operations such as addition of new directors, allotting new shares and many other benefits.
3. Very Easy Allocation of Ownership
Companies that will need funding from venture capitalists, or angel investors must register as Private Company. This is because private limited companies can make them shareholders and provide them a seat on the board of directors where limited liability companies would need investors to be partners and one person companies can't accommodate additional shareholders.
4. Easy to Wind Up
In case of private limited company, Itgives faster exit to those businesses which don't have any assets or outstanding liabilities and want to close their business because of some other circumstances.
5. No Minimum Capital Required
The minimum requirement of capital of Rs. 1 lakh for private limited companies was abolished. Thus, now a company can be formed with minimal capital.
How ExpertBells can help for Company Registration in Agra?
ExpertBells is a leading online company registration Agra service provider. They prepare you with a complete package of company registration in Agra as per new companies act 2013. They get approval from ROC of Agra while approving the company name. Their professional team submitted all the application and required documents so as to apply for a company registration certificate in Agra.
ExpertBells assists their clients how to move on while complying with all sorts of business laws in India. They notify their clients with all updates and latest corporate laws. ExpertBells provides a broad range of corporate legal services that supports you in day to day business tasks.
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