Private Limited Company Registration in Delhi NCR

Pvt. Ltd. Company Registration in Delhi NCR

Company Registration in Delhi is managed by the Ministry of Corporate Affairs under the Government. An office under the Nation's Ministry, known as the Registrar of Companies, is responsible for the Company Registration in Delhi. The Registrar of Companies is concerned with the administration of the Companies Act, 1956 and the Companies Act (Amendment), 2013.  A company is a separate legal entity and is treated as one by the Companies Act. A Company as defined in Section 3 (1) (i) of the Companies Act, 1956, legally  means, a company formed and registered under the Act or an already existing company. This term ‘already existing’ means a company which was formed and registered under any previous Company laws. There are different types of business structures and it is important that while doing a Company Incorporation in Delhi, a person should have the basic knowledge of different structures like Sole Proprietor for small merchants, Hindu Undivided Family when joint families work together, Partnership Firm when people work together for profit, Private Limited Company with high turnover and so on. The form of business structure is a criterion in Company Registration in Delhi and it will also determine the amount of income tax which needs to be filed, and it will also support the company to become legally compliant, and above all, investors will be attracted to a company which has been able to become legally compliant by being self-aware of its business structure.  Registration of a company  will help a company to work in its full efficiency as registration will put a company under the right business structure, helping it further to meet objectives and targets important to get success.

Reasons to Register your Private Limited Company in Delhi

Reasons to do Company Registration in Delhi can be plenty, earlier registering a company used to involve a long and tiresome process but now with the rise of the Internet and platforms like Company Vakil it has become easier. The difference of opportunities between unregistered and registered companies will give enough reasons for a company to be registered. Firstly,

• A registered company will not have to think a lot before taking risks to improve and to give a boost to their business because of the presence of limited liability protection that is, no person will be made personally liable for the losses this saves a person from the risk of losing everything because of the business and allows a person to take risks accordingly. Every business has a risk of going into losses, but with registration, a person will not deter from taking risks to boost his business.
• Secondly, when a bank account has to be opened for a business, it is very difficult to show with proofs about the existence of the company.
• And thirdly, when it comes to funds for the business, it is preferred by banks to give loans and financial assistance to companies which are registered. Moreover Delhi is the Capital of the Country and the third largest city of the World. It is the political centre of our country and also the second largest metropolis in our country. It is a city that entwines the old traditions with Modern lifestyle. The city is the largest Commercial Centre in Northern part of the country and also the largest Centre for Small Scale Industries. The city reflects the traditional architects with influences from Mughal and British including monuments like Qutub Minar, IndiaGate, Rashtriya Bhavan, Jantar Mantar and so on.. This is an apt location to register your Company.

Why I Need a Pvt Ltd. Company Registration in Delhi?

It is required to get proper business funding help from banks because banks prefer to help those which have proper Company Incorporation in Delhi.

• A company will always require a bank account to manage the money with which they are involved, for an unregistered company to get a bank account involves a lot of hassles, because there are fewer documents to show as evidence for the company’s existence, tax registrations etc will have to be used to establish its existence. But when a company is registered, it will have no issues to prove its existence and it will be easy for the company to create a bank account for its own benefits and usage. Because when a company is registered it is approved by the Ministry of Corporate Affairs, and it also gets a certificate of Company incorporation in Delhi.
• When a company has to deal with transferring or sharing of ownership of a business, it is difficult for an unregistered company. Because an unregistered company does not have defined assets and liabilities, hence when transfer or sharing of ownership of business is talked about, the unregistered company becomes a hurdle. When a Private limited company Registration in India is done, it is easy to transfer or share the ownership because a registered company defines the assets and liabilities, and makes the company a legal entity in itself.
• Also, when a company incorporation Delhi is done, the businessmen always want to boost their business which also involves a lot of risk-taking decisions, if a company is unregistered, then the person himself can also become personally liable leading to his loss as well, if any unfortunate instance happens then the risks of losing everything also can occur. However if a company is registered then personal liability does not arise.

Steps to Incorporate your Private Limited Company in Delhi NCR

Process for Company Registration in Delhi involves four major steps.

Starting with the

• Step 1, to acquire a Director Identification Number (DIN), as the name suggests, it is the process by which a director should get his identification number. As per the Companies Act, acquiring a Director Identification Number is compulsory for a person who wants to be or is a director. There is a form for DIN called the DIN-1 form, it can be easily found on the website of Ministry of Corporate Affairs. The completion of DIN-1 form has to be done with some applicable fees, then the DIN-2 form is filled which intimates the company, DIN-3 form intimates the Registrar of Corporate on the DIN. Lastly, the DIN-4 form is used to make any changes that need to be updated like contact number or any other personal details.
• Step 2 is to acquire Digital Signature Certificate (DSC) this is to ensure the authenticity of digital signatures in documents which have to be electronically submitted. There are agencies appointed by Controller of Certification Agencies which approve and provide with the Digital Signature Certificate, this needs to be updated.
• Step 3 is to create an account on the Ministry of Corporate Affairs portal it will help in transactions etc. Step 4 is finally the application to register the company it needs inclusion of details like the name of the company, the address, information on the company directors, managers and secretary.