Starting a tech Company is Most popular Business Idea In India and the world , As To start a tech company anywhere in world you do not Need to Have A Lot of finance, You do not need Office and Starting a tech company does not require business registration and Much Legal Obligations. You can start A Tech Company As sole Proprietor, private Limited company or Partnership as well as you can start a tech company from home or you can set up Tech Company totally online or in virtual space.
But In this Article I will discuss with you why you should register your Tech Company as Private Limited Company in India. Before We Begin I will give you Small Introduction about Private Limited Company.
What is Private Limited Company?
A private limited company is a company privately held for independent companies or small businesses. This kind of business substance limits proprietor risk to their shareholdings, the quantity of investors to 200, and confines investors from freely trading shares.
Reason as To why You Should register your Tech company as a Private Limited Company?
1). Separate Legal identity
A private limited company is thought to be a different lawful element. It has its own character and especially perceived as a different company under the law. Additionally, the company can claim property because of this element under its name. The company can sue and furthermore it can be sued under its own particular name because of this extremely same element.
2). Stability in Business Tenure due to Limited Liability
Private Limited Company has this element of limited money related risk of the considerable number of investors. The liabilities are limited to their offers as it were. This component secures the individual resources and salary of investors now and again of any monetary emergency looked by the company. Additionally, it gives the company more freedom of going out on a limb.
3). Ease of Raising Funds:
Shareholders permitted are up to two hundred and another two hundred individuals are permitted, this numerous numbers and the notoriety of the private limited company makes it less demanding to bring capital subsidizes up in contrast with different types of organizations. Hence, we can state the extent of extension is more prominent when a private limited company is joined. Taking obligations from banks and other money related endeavors are very simple as well.
Steps to Register Tech Company as Pvt Ltd in India
1). Obtain Digital Signature or DSC
Digital signatures are required to document the structures for company development. The enrollment procedure is on the web and the structures require a digital signature. DSC is compulsory for all supporters and observers in the reminder and articles of affiliation. You should get the digital signature endorsements from government recognized Certifying organizations. The List of such affirmed offices can be gotten to here. Or on the other hand you can get your DSC online in only two days from here. The cost of getting DSC shifts relying on the guaranteeing office. You should acquire either class 2 or class 3 classification of DSC. Under Class 2 classification, the character of a man is confirmed against a pre-checked database while, under class 3 class, the individual needs to introduce himself before registering authority to demonstrate their identity. To secure DSC.
2). Apply for DIN (Director Identification Number)
With documenting Spice, DINs gets issued to the proposed directors who don’t have a DIN. Under this procedure of documenting through Spice (INC 32), most extreme of three directors can apply for DIN. On the off chance that candidate need to fuse Company with in excess of 3 Directors and in excess of 3 people doesn’t have DIN. In such circumstance candidate need to fuse Company with 3 Directors and need to designate new directors later on after consolidation. Also as soon as you acquire DIN, You need to Also File for DIR 3 KYC Form before 31, august, 2018.
3). Name Approval
Incorporating a Company by means of RUN (Reserve Unique Name) form: In an endeavor to ease techniques for new and additionally existing organizations, the Ministry of Corporate Affairs (MCA) has presented RUN web benefit for the fuse of a company. RUN gives just a single possibility for applying and in the event of dismissal of the name because of any closeness of name with an enlisted company, a LLP or trademark or due to non-adherence of the Companies (Incorporation Rules) 2014, there are no renewed opportunities accessible. It implies you must make certain of the proposed name and ought to take after name accessibility rules, existing trademarks to keep away from dismissal. The candidate needs to re-document another RUN form with recommended fee.
4) Filing SPICE Form or INC-32 Form
Ministry of Company Affairs has presented Form Spice (INC-32). It is a disentangled preformed for incorporating a company electronically. It fills the accompanying needs with the advantage of a solitary application for Application for allocation of DIN (Director Identification Number), Reservation of company name, Incorporation of new company and Application for PAN and TAN
5). Filing of E-MoA or INC-33 Form and E-AoA or INC-34 Form
E-MoA alludes or refers to an electronic Memorandum of Association and E-AoA is electronic Articles of Association. These forms have been acquainted with streamline the procedure of company registration in India. Memorandum speaks to the contract of the company while at the same time articles of association contain the inside tenets and controls of the company. Prior memorandum of association and articles of association were required to be recorded physically. Be that as it may, now these forms are documented online on MCA entrance as a connected form with Spice (INC-32). Both these forms must be carefully marked by supporters of the Memorandum and Articles of Association.
So basically Private Limited Company is one of the best legal entity for the Tech Companies. If we talk about the Compliance then you can read here about the Compliance for Private Limited Company . If you have any query related to the Tech Company Registration in India then you can mentioned in the comment section.