Maharashtra is the third-largest state in terms of land in India and the second most populated state. By all economic standards, it is considered the wealthiest and most industrialized state. It encourages domestic and international companies to make investments in the industrial sector. Pune Company Registration provides great business potential. Therefore, it’s a great time to establish a corporation and launch a business in India.
Different Types of Pune Company Registration
An entrepreneur can pick from the following kinds of business structures when incorporating a company in Maharashtra:
- One Person Company (OPC): An OPC is a limited liability company that can be formed by a single person.
- A limited liability partnership (LLP) is created when two or more people pool their limited liabilities together.
- Private Limited Company: A group of people who want to raise money for their venture form a private company.
- Public Limited Company: Big companies that list their shares for public purchase on stock exchanges are best suited as public companies.
Requirements for Pune Company Registration
Entrepreneurs should make sure they have the following items before submitting an application for Maharashtra business registration:
- Entrepreneurs should choose a distinct company name, one that is not the same as a trademark or company name that has already been registered.
- The bare minimum of three directors for a public business, two for a private corporation, and one for an OPC should be on it.
- It ought to consist of the bare minimum of members—two for a private business, one for an OPC, and seven for a public corporation.
- The company’s directors may also be foreign nationals, although at least one of them must be an Indian citizen.
- The Director Identification Number (DIN) should be obtained by each director of the organization.
- To sign corporate forms and papers, each director and shareholder has to have a Digital Signature Certificate (DSC).
- Maharashtra is where the company’s registered office must be located.
- The Articles of Association (AOA) and Memorandum of Association (MOA) should be prepared by entrepreneurs.
Maharashtra Registrar of Companies (ROC)
In Maharashtra, registering a corporation is done entirely online and without using any paper documents. The Central Registration Centre (CRC) handles the online filing of the Pune Company Registration application and the necessary paperwork via the MCA website. The Offices of Registrar of Companies (ROC) in each state will review the registration application when it is submitted and produce a digitally signed Certificate of Incorporation for the business. The definitive proof of the company’s formation is its Certificate of Incorporation. It addresses LLP registrations as well. In India, each state has one ROC; however, Tamil Nadu and Maharashtra are the only two states with two ROCs each.
Benefits of Pune Company Registration
Separate legal entity
A Pvt Ltd Company becomes an artificial person after registration, distinct from its members. A Pvt Ltd Company’s members also have limited liability. It implies that shareholders of a firm that experiences a loss under any conditions are released from the obligation to sell their own assets to cover the loss. As a result, none of the stockholders’ private assets are at danger.
Easy to register, manage & run
A Private Limited Company may be fully registered online with minimal paperwork. It takes seven to twelve business days to finish the Pune Company Registration procedure. Additionally, it provides operational flexibility with the ability to add new directors, assign additional shares, implement ESOPs, and utilize a variety of other capabilities.
No minimum capital required
Following the passage of the corporations Amendment Act of 2017, private limited corporations were no longer required to have a minimum capital of Rs. 1 lakh. Thus, a business may now be formed even with a minimal capital of, say, Rs. 2000.
Easy allocation of ownership and management
corporations must register as private limited corporations if they want to raise money from angel investors, venture capitalists, or other sources. This is so that they may become shareholders and directors of a business. On the other hand, investments in an LLP are only feasible if those investors become partners in the LLP.
Easy to dissolve or wind-up
Companies who choose to cease operations owing to unusual circumstances but do not have any assets or ongoing liabilities can do so more quickly thanks to the form of a Pvt Ltd Company.
Preferred by banks, VCs & investors
Every year, the books of a Private Limited Company are audited by an independent auditor. Banks, venture capitalists, and investors therefore favor Pvt Ltd Companies above alternative company models.
Pvt Ltd Company Formation Procedure in Pune
Application for Name Approval
The primary goals and two distinct names for the proposed company must be provided by the applicant. The MCA will then review and approve one of the two names that have been submitted. Ideal names for the company would be those that are distinctive and allude to its operations; they should also conclude with “Private Limited.”
Application for Digital Signature Certificate (DSC)
For the purpose of digitally signing documents, the following action is to apply for a Digital Signature Certificate (DSC) of directors and shareholders. This step can be omitted if the directors or shareholders currently hold DSC.
Final Submission of SPICE+ Forms, along with MOA and AOA
We must prepare and submit an incorporation application in SPICE+ forms, together with a Memorandum of Association (MOA), Articles of Association (AOA), and AGILE form, for final approval after receiving DSC and name approval.
Get Incorporation Documents
The incorporation certificate, which is a document attesting to the Pune Company Registration, is normally obtained three to five days following the final submission. Additionally, the PAN, TAN, ESIC, EPFO, and Professional Tax registration certificates will be given to the company at the same time.
Opening of Bank Account
To open a current account and begin business operations, the applicant must provide the bank with the necessary paperwork, including the incorporation certificate, MOA, AOA, PAN, TAN, and other documentation.
India has the third-largest startup ecosystem in the world, and in the last few years, the number of newly established businesses across all industries has increased dramatically. The majority of these companies begin by serving the needs of their local clientele on a smaller scale. They report low turnover and profits, which deters investors from giving the companies the necessary funding. All the same, entrepreneurs always hope to succeed in their fields and raise the necessary funds to build and grow their companies. As a result, it is frequently advised that they incorporate, so they can benefit from private limited company advantages. Get an appointment of our lawyer at Consultaxx for Pune Company Registration today!
