How to Start a company in Kerala

by | Jun 7, 2016 | Company registration, Limited Liability Partnership, Maarg, One Person Company, Private limited company | 0 comments

The Company registration is regulated by the Companies Act, 2013 and administered by the Ministry of Current Affairs through the offices of the Registrar of Companies in every state.

Here we see some of the companies and its registration processes.

  • Public limited Company
  • Private Limited Company
  • One Person Company

Public limited Company Registration Process:

  • Minimum 3 directors required
  • The shareholders and directors can be the same persons
  • DIN (Director Identification Number) is must for all the directors
  • DSC (Digital Signature Certificate) is must from any one of the directors
  • Share Capital shall be a minimum of Rs. 5, 00,000 (INR)
  • Search of name availability and submitting the application for name availability with the concerned ROC
  • After the name approval, forwarding all the documents to ROC for incorporation
  • Paying Registration fee
  • Obtaining Certificate of Incorporation
  • Obtaining Certificate of Commencement of Business before starting the operations.

Private limited Company Registration Process:

Private Limited Company is a popular legal structure of a business can be chosen by anyone looking for building a scalable business.

  • Minimum 2 directors required
  • Minimum 2 shareholders
  • The shareholders and directors can be the same persons
  • Share Capital shall be a minimum of Rs. 1, 00,000 (INR)
  • DIN (Director Identification Number) for all the directors
  • DSC (Digital Signature Certificate) for any one of the directors
  • Preparing the main objective of the entity
  • Checking the availability of name
  • Forwarding application for the name availability with ROC
  • After the name approval, forwarding all the documents to ROC for incorporation
  • Paying Registration fee
  • Receiving Incorporation Certificate

One Person Company Registration Process: 

A new concept of OPC or One Person Company formed in the New Companies act 2013 that says a person can register the company on his name as a single director or owner.

  • The person or the proposed director who is willing to register the company on his/her name shall submit the DSC in ROC. Then the person is provided with DIN
  • The person can select the name on which he/she is interested as long as the name should be available. The MOC will scrutiny the proposed name and they suggest alternative names for the company in case the proposed name is unavailable.
  • Memorandum of Association and Article of Association shall be prepared with other documents by the proposed director with the help of a CA / ACS.
  • Soon after paying the minimum fee and stamp duty, the ROC starts verifying the documents.
  • On successful completion of all the above steps, the proposed director will get Registration Certificate to ensure that the company is registered in his name.

 The following processes are involved in starting a Company in Kerala.

  • Digital Signature Certification for all proposed directors.
  • Obtaining Director’s Identification Number from Ministry of Current Affairs (MCA)
  • Getting approved for the Name of the company from Registrar of Companies (ROC)
  • Drafting of Memorandum of Association (MoA) & Article of Association (AoA) for getting certification from the ROC.
  • Forwarding required documents and registration fees to ROC. The mandatory documents are MoA and AoA stamped copies, Form 32 copy with the consent letter of the company’s Director /s, declaration for the company’s incorporation, Address proof of the proposed company, Power of attorney from the subscribers on Judicial Stamp Paper and Subscribers identity proof. The said documents should be uploaded online and the originals have to be filed with ROC.
  • The fees for Company registration depends on the company’s authorized share capital.
  • Certificate of Incorporation and Company Identification Number (CIN) is given from Registrar of Companies.(ROC).
  • Make a Company Seal and For Seal of the Entity.
  • Apply for Permanent Account Number (PAN) for the newly formed company
  • Acquiring TAN (Tax Account Number) from the concerned Circle’s Assessing Officer of the Income Tax Department, which is mandatory for TDS / TCS certificates.
  • Registering with Kerala Shops and Establishments Act, 2014
  • Registering for Value added Tax, if applicable
  • Registering for Profession tax
  • Registering with EPFO and it is not necessary when employees’ strength is less than 20
  • Registering with ESIC (Medical insurance for employees)
  • All documents should be photocopied and the originals must be displayed in the business place
  • Maintaining books of account up to date with the stock register and submitting returns every month before the due date & renewing all registrations every year before April 30th.

 

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