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Having a company running a successful business is a dream for some and a synonym for hustle for others. Be it a dream or reality for having a successful company, it all starts with the company registration process. Here, we are attempting to explain the task taken up by Company Registration Consultants, who take charge of bringing the identity of your business into existence.
A company is a legal person in the eyes of law, which needs to be run as per the applicable laws. There is a certain process to be followed for Company formation, which includes filling certain forms, declarations, etc. Company incorporation process gives the company a separate identity apart from the promoters and directors. While the people acting on behalf of the company go beyond the powers given to them, they may be liable in their individual capacity. Otherwise, for all the debts and liabilities, a company is liable on its own, and the people acting on its behalf taking care of the business are safe.
There is a specific process stipulated through laws by the Ministry of Corporate Affairs, which the players need to follow for company registration. It requires a specific name of the company, form of identity - whether it will be one person company, pvt ltd or public, etc., no. of partners associating for the company, approval of name, Memorandum and Article of Association, filling several forms on MCA website, compliance work, obtaining business license, etc.
While the company safeguards the interests of Directors and Promoters, it does not come free of cost. There are certain fee structures based on the form of company, the no. of Directors, nature of business, etc. As per experts, the company incorporation process may cost somewhere around Rs 6,000 to Rs 30,000.
The process of company registration is not easy. The partners may be experts in the business they wish to start through the target company, formalities of incorporation may be troublesome for them. Thus, in such a scenario, company incorporation consultants understand your business and requirements and proceed with the formalities. They are the experts of forms to be filled and better at guiding regarding the compliance work as well.