Online Company Registration In India
If you are willing to register a new company in India, you must submit an application to the Ministry of Corporate Affairs (MCA).
Director Under Companies Act, 2013
The Companies Act, 2013 defines a director as a person appointed to the company’s Board. The directors manage the company affairs and are the heads of a company. Directors of the company will be in board of directors.
The Board of a company is also responsible for protecting the interests of the shareholders of the company
* Managing director
* Whole-time director
* Independent director
* Small shareholders director
* Additional director
* Alternative director
* Nominee director
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Director Identification Number (DIN)
Any one wish to be a director of a company in india need DIN ( Director Identification Number) It is unique number for every individual This number will be linked with your KYC for further references related with MCA. This DIN is mandatory to become a director in an Indian Company.
The documents required for obtaining DIN are
Address proof such as driving license, bank statement or any utility bill (not older than two months)
Managing Director or Whole-Time Director requirement
Foreign nationals intending to become managing directors or whole-time directors in Indian companies must fulfil the criteria of being a resident of India, i.e. who is staying in India continuously, not less than 12 months, immediately before the date of appointment as director
Compliances Under FEMA For a Foreign Director
A foreign national appointed as a director in an Indian company is eligible for receiving remuneration, commission and sitting fees like Indian directors. Thus, they must follow the provisions of the Foreign Exchange Management Act (‘FEMA’), 1999.
Company formation in India
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Foreign company registration
There are some formalities to be complied for both Established and new business startups which includes tax compliance, employment regulations, which are central to the functioning of every business in India.
Entrepreneurs willing to enter the Indian dimension should make sure that they are complying with all the legal compliances and one of them being getting the business registered legally. New players may like to expand their existing businesses to leverage India’s competitive advantage by running the business efficiently.
Startup registration in India
Limited Liability Partnership
Main concept of Limited Liability Partnership
• LLP is a corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.
• LLP is capable of entering into contracts and holding property in its own name.
It can continue its existence irrespective of changes in partners.
• The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. • In LLP individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct, Further, no partner is liable on account of the independent or un-authorized actions of other partners.
• Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity, LLP is called a hybrid between a company and a partnership, Since LLP contains elements of both ‘a corporate structure’ as well as ‘a partnership firm structure'. Register and know more about Pvt Ltd Click Here
A Private Limited Company is a business entity registered in minister corporate affairs by a small group of people called share holders.. It is registered for pre-defined objects.
In private Limited company the shatre holder can't sell the share to public, Startups and businesses with higher growth aspiration popularly choose Private Company as suitable business structure.
To form a private limited company, minimum 2 members are required and maximum 50 members are allowed
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A Public Limited Company is a company that has limited liability and it can be started with seven member as share holders .
Public Limited company can sell its share to public by list it in stock exchanges for the general public. A Public Limited Company is strictly regulated and is required to publish its true financial health to its shareholders.
It has a separate legal existence apart from its members who compose it.
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A nidhi company is a type of company in the Indian Financing sector as non banking financial institution recognized under section 406 of the Companies Act, 2013.
Nidhi company core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company.
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