Incorporating a Company in India – Must Know Things Are

Incorporating a Company in India - Must Know Things Are

1. Never permit your consultant to include their own name as Promotors and Founders of the Company – many consultants endorse this approach for ease of documentation to keep away from getting apostille/counselarised documents from clients.

2. Never deliver your normal e-mail address In the preliminary incorporation process, you’ll be able to amend the e-mail address after some months – the blessings of avoiding junk mail calls and emails far outweigh lacking one or emails from authorities, as there may be not anything so important MCA communicates with us in preliminary days.

3. Choose to use for registration like PAN, or TAN while incorporating a company however remember to untick labor law registration if employees are anticipated to be much less than 20 in the preliminary years.

4. Remember to have sufficient authorized share capital – growing for each capital infusion is a time-consuming and inefficient process – paying a few thousand more in stamp duty is always better.

5. One needs to prepare a plan for the subscription of shares in comparison with working capital requirements, this helps in planning compliances in advance.

6. One needs at least one Indian resident Director, ensure that such person is from a known network after all he is sharing a board seat with you and can cause nuisance too.

7. As some distance as likely management at the board needs to be taken into consideration while agreeing on Directorship positions, this enables to govern shareholders’ timetable within the proper direction. If this isn’t always possible, MOA or AOA needs to reflect appropriate clauses giving extra/controlling authority to shareholders.

8. Choose your Bankers right for opening a bank account – post equity infusion, compliances like FCGPR, ECB Reporting, and so on are cumbersome.

9. Other recurring companies’ documentation and compliances need to be continued.

10. Most importantly, appoint proper advisors consistent with your business/growth plans, many online carrier companies aren’t ready sufficient to address your vision for growth.

If you have any clarifications or questions about Incorporating a Company in India, contact us and we will assist you. If you are looking to make the whole compliance process easy for you, we have the best solution for you: Do check it out. I Connect Financial Solution offers the service of company registration in Pune.

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