We decided it was time to incorporate a private limited company as we’re growing, are a team of 3 full time employees, 1 full-time consultant and another part-time consultant. I had no clue incorporating would be this easy. I did not have to go anywhere, everything was done by the guys at NovoJuris. All I had to do was scan a few documents. The entire process took around 30 to 45 days (there was some delay in getting the company name approved but it’s expected when you’re dealing with the government).
From what I remember, these are the things you need to do while registering a company in India:
Documents needed for incorporation:
- You need a PAN card
- Proof of address (rented apartment works!)
- Company address (rented apartment works!)
- Passport size photos
You would then need to decide what the paid up capital and authorized capital would be (the guys at NovoJuris explained it to me and helped me choose what fit right for us).
Once you have the documents in place, it’s all about filling up a few forms, scanning and sending them across. It does not matter in which part of the country you are, or even if you aren’t in the country. If you have the necessary documents, everything can be done online.
Need to decide when is the right time to incorporate? Check my answer on Quora.
Next steps after incorporating:
- Get a PAN for your company (you would need this for opening your company’s bank account)
- Get a TAN for your company (needed for deducting and collecting tax)
Update 18/02/2012: Once you are done incorporating the company, get rubber stamps with your company name and letter head and I would also recommend getting business cards printed. I hate business cards but when people ask for it, it’s a little odd to tell them I don’t have one. Looking around for some minimal business card designs now.