Benefits of Incorporated Business Structures

All over the world, incorporated business organisations are popular structures for carrying out business activities. The main benefits of these structures are given below

• Personal Assets Protection

Liabilities of owners of incorporated business organisations are limited to their agreed contribution. It means a shareholder of a Company or a partner in an LLP only need to contribute his agreed share. After he contributes his share, he is not liable to contribute additional amount even if the company or LLP creates further liability in its name.

• Perpetual Succession

An incorporated business continues irrespective of change in its owners. It is because, as per the law an incorporated business is a legal person distinct from its owners. So change in the owners will not affect the existence of an incorporated business. This is not the case for a partnership or sole proprietorship. If a partner resigns or dies, it is the end of the partnership firm. Same is the case of a sole proprietorship firm.

• Credibility & Acceptance

Since information about the owners, the registered office and capital contribution etc are available to public verification; incorporated businesses are more acceptable to general public and prospective trade partners.

• Name Protection

An incorporated business is registered with a name and the same name will not be available for registration for any other firm.

• Investment and Loan availability

Investors always prefer an incorporated business as the same is regulated under a law. Its business scope and financial information etc are available for verification at any time.

Steps for Company Registration in India

Steps for Company Registration in India

Company Registration is a specialized service as which requires professional knowledge of company law and practice.

www.companiesinn.com  has redefined the complicated process of company registration to simple and hassle free steps. With the professional and practical expertise of our team, we have evolved a new method of incorporation with high professional standards at an affordable price.

Below are the simple processes for company registration.

1.      Apply Directors Identification Number (DIN).

DIN is mandatory for all directors of a company. Each proposed directors can obtain this number using his address proof and identity proof.

2.      Apply for Digital Signature Certificate (DSC).

Company registration in India is an online process where all the required documents are being filed online. These electronic documents need to be signed using DSC. For this one of the proposed director need to take a DSC.

3.      Select and Apply the Name for the company.

Select few names for your company. The Company name guidelines in India have been liberalised in par with international standards. Make the application for company name.

4.      Execute Company Registration documents.

Once the company name is approved, execute the company registration documents viz, Memorandum of Association and Articles of Association.

5.      Apply for registration of Company.

Once Memorandum of Association and Articles of Association are executed, the same has to be filed online to respective Registrar of Companies for registration. The Registrar registers these documents and issue certificate of incorporation.

6.      Other registrations.

One the company is registered; it needs to obtain Tax numbers such as Permanent Account Number (PAN), Tax Collection and Deduction Account (TAN) to open a bank account. It also requires Service Tax Registration, Value Added Tax (VAT) Registration depends on the nature of activity for functioning.