Business Incorporation Services mark the formal birth of a new entity. It is the process through which a business will have a distinct legal entity, separate from its owners, with its rights, responsibilities, and obligations. Whether you’re a budding entrepreneur or an established business expanding your horizons, understanding the nuances of business incorporation is essential for a successful and compliant venture.
Incorporation offers a host of advantages that go beyond merely registering a business name. By becoming a legal entity, your business gains credibility and legitimacy in the eyes of customers, partners, and investors. It also opens doors to various benefits, such as limited liability, perpetual existence, ease of transfer of ownership, and potential tax benefits.
The journey of incorporation begins with choosing the right business structure. We offer insights into choosing the optimal business structure by liaising the factors like ownership, liability, management control and taxation. Common business structures include:
Your business name is its identity. It should reflect your brand, be unique, and compliant with naming conventions laid out by regulatory authorities. The Registrar of Companies could reject the name in account of its familiarity with or similarity with other companies which leads to additional costs and delays. We help you choose a unique name saving your cost and time.
Documentation is a cornerstone of incorporation. Drafting Memorandum of Association (MOA) and Articles of Association (AOA) for companies, partnership deeds for partnerships, or LLP agreements for LLPs is vital. We help you in laying down the suitable framework for your business and file e-MoA & e-AoA for you.
Permanent Account Number (PAN) is used to file income taxes and Tax Deduction and Collection Account Number (TAN) is used to deposit taxes withheld from payments. We provide services in PAN & TAN acquisition from end to end.
We guide you in registering your company through filing the necessary forms in the Ministry of Corporate Affairs portal.
Any person expected to be a director in the prospective Company is compulsorily have Director Identification Number (DIN) and a Digital Signature Certificate (DSC).
It is mandatory for any business units to have GST Registration. A 15 digit identification number i.e., GSTIN is provided from the GST authorities which helps in collection and correlation of data relating to the business. Obtaining GSTIN is one of the fundamental requirements for having compliance.
The Shops and Establishments Act is a state-level legislation in India that governs the working conditions and rights of employees in shops, commercial establishments, and other service-related businesses. It sets out various rules and regulations related to the operation of these establishments, covering aspects such as working hours, holidays, employment conditions, and more. Each state in India has its own Shops and Establishments Act, which may vary in certain provisions, although the basic framework remains consistent across states. Every business should register itself under the Shop and commercial establishment Act. We at BCL India, help you in required formalities to get the certificate.
It is important to remember that the post-incorporation phase is an ongoing process. Regularly assessing your business’s performance, reviewing your goals, and making necessary adjustments is the key to its continued success. As soon as the company gets incorporated, there is a list of tasks in its way ahead. Every director or promoter needs to accomplish it and mandatorily comply after getting a certificate of incorporation of the company. The specific requirements and deadlines can vary based on the type of company and the state you are operating in. BCL India offers you end to end business incorporation services to ensure you are fully compliant with all regulations and requirements.
Apart from the process mentioned above there are few other compliance to be done under Companies Act 2013, following are the additional compliance to be taken care under Companies Act, 2013.
Incorporating your business offers limited liability protection, potential tax benefits, access to capital through selling shares, enhanced credibility, and the ability to transfer ownership. It can also provide a clear structure for governance and decision making.
Incorporation costs vary based on the type of entity and the jurisdiction. You’ll need to budget for filing fees, legal assistance if needed, and ongoing compliance costs. While there are expenses, the benefits can often outweigh the costs.
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