ALL YOU NEED TO KNOW ABOUT REGISTERING A COMPANY

Gone are the days when registering a company looked like a herculean task. Now, you don’t have to wait for weeks for approval after filing the paper forms and paying huge sum of money. There are lakhs of people who are turning their ideas and enthusiasm into a new limited company. If you too are interested in being one among them and have a business¬† to register, here is what you need to know about registering a company online.

  • Decision Making: Before planning to register the company, one should first make a decision if a limited company is actually needed or not. For this, you have to evaluate your business and analyse the profits to ensure that setting up a limited company will be a profitable choice. Although there are a number of advantages of setting up a limited company like it offers protection to shareholders from liabilities of business and possess most of the legal rights of an individual, there still exists a need to decide on whether to set up an online business or run your business being a solo trader depending upon the type of business.
  • Company Name: Choosing a good company name for your business plays a vital role in the registration process. It is important to choose a company name that is different from any of the company names that already exist. One should not rush to hasty names and regret later.

  • Collect the details needed to register: In order to register a company you will have to provide a number of information related to the company which includes-
  • Company name.
  • Office address.
  • At least one SIC code describing the activities that the company plans to do.
  • Details of the share capital to be created.
  • Company director and Company secretary details.
  • Initial shareholder details.
  • Preparation of Memorandum and Articles of Association: Both these documents are required for registering a a company. Memorandum of association sets up the company and Articles of association includes a set of clauses stating how the company is run. These are constitutional documents required while incorporating a company.
  • File the Incorporation: This can be done either through online sources or by paper filing.

Once you are done with the above steps and wait for the approval. Registering a company online is convenient and less time consuming. You can choose any of the methods based on your convenience and get your company registered.