India is a rising economy and has a huge industrial market. Over the years, we have witnessed many local companies rising to the international horizon. Today, it has become very easy to create a company of your own, given that you possess the qualities of what it takes.
This article is a synopsis of what you shall need if you are looking to build a company.
To Build Company
If you are looking to build your own company, that first thing you need to do is to research and determine the reasons regarding why you want to build a company in India. This also includes the expenses and taxes that you shall have to bear in order to run a business in India.
Next, you will have to register your company. Now this involves giving your company a name, which is approved by the ROC. If the company is private, its name should end with the words ‘Private Limited’ and in the case of a public company, the name should end with simply ‘Limited’. Then, you shall have to submit to the ROC, The Memorandum of Association and Articles of Association. This is a document that writes the constitution of the company. It contains the objectives, scope of activity amongst other things. Most importantly, it defines the relationship of the company with the world outside.
Requirements To Build Company
Setting up a business requires money, but this fact doesn’t mean that you should blow up the money that you saved all your life.Instead, you can be pocket smart and end up spending a lot less than you imagined. Look for professional company experts and legal advisers to help you set up a business for a reasonable expense. You can find private company formation service providers over the Internet helpful in this matter.
Once your company set up in India, you need to make sure that you have all the right and important dopcuments like the Memorandum of Association, Articles of Association, Certificate of Incorporation, Business License, Indian Pan number or the TAX id, employee identification numbers for you workers, etc. You also need to obtain a company seal, and register under the Shops and Establishment Act.