What Documents Needs to Start Small Company?
Introduction
To start a company, certain documents are needed for registration. By registering your firm, you give it a legal existence, protecting it from business liabilities one of the key benefits of company registration. Proper registration also allows you to expand your business across multiple levels. There are various types of firms that can be registered, including the following
Types of small company to start
The documents needed to start a company vary based on the type of firm you want to register. It is essential to determine the specific business structure before proceeding. Different types of registrations are available for small businesses, each with its own document requirements.
- Private limited company
- Sole proprietorship registration
- Partnership firm
- One-person company
- Limited Liability partnership
For the above mentioned type of companies, you need to follow various procedures, and it will require some documents. Here, I list all the documents needed for registration.
Private Limited Company
A small group of members or shareholders owns a Private Limited Company. Many prefer this business structure for its flexibility, legal recognition, and limited liability for shareholders. Below is a list of the required documents for registering a Private Limited Company.
- Proof of identification: PAN card, Aadhar card.
- Proof of address: Passport, Driver’s License, Election Card.
- Copies of MOA and AOA.
- Digital signature certificate (DSC) for directors.
Limited Liability partnership
Limited Liability partnership is a business structure that provides liability protection to the company. There are minimum two people required and no limit bar for the maximum number of people.
LLP is a flexible entity where each and every partner has limited liabilities. You will need the following documents to register an LLP.
- PAN card
- Address proof
- Registered office proof
- You need to submit the NOC from the landlord.
- DSC and DPIN are required for online verification
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Sole proprietorship
It allows you to have full control over your business. In this type of business, you will be personally liable for the business debts and liabilities. to register this type of business, you will need the below mentioned documents.
- Aadhar card
- PAN card
- Bank Account
- Registered office proof
Partnership firm
A partnership firm is one type of business where two or more people come together to share the responsibilities, profits, and losses of the business. Below, I am listing the documents needed for registration.
- Partnership deed
- Documents of the firm (PAN card of the firm, address proof of the firm)
- Documents of partners (PAN card, Address proof)
- GST registration
- Current bank account
One person company (OPC)
It is a type of business where a single individual can form a company. That one person will be responsible for all the liabilities.
This is ideal for those people who want to start their own business and want the protection of limited liability. You need several documents to register this type of business, as listed below.
- MOA and AOA copies
- Since there is only one director and member, a nominee must be appointed. If the director cannot fulfill their duties, the nominee will take over. The nominee’s PAN card and Aadhar card are required.
- Proof of Registered office along with the proof of ownership.
- Declaration and consent of the proposed director of form INC-9 and DIR-2, respectively.
Conclusion
There are various types of registrations for small businesses, and the choice depends on the individual’s preference. Each type of registration requires specific processes and documents needed to start a company. For more details, you can seek advice from experts.
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FAQ
1. What certificate is required for small businesses?
An MSME certificate is needed, which is issued by the ministry of Micro, Small, or Medium Enterprises.
2. Which documents are required to register a company?
Proof of registered office address is an important document to be submitted to register a company.
3. Is GST compulsory for PVT Ltd company?
When the company’s turnover exceeds certain limits, it becomes mandatory to register under GST.
4. How much does a business license cost in India?
The registration fees may start from ₹ 1500 and can reach up to ₹ 15000. it depends on the complexity of the tasks, taxes, etc.
5. What is the GST limit for small business?
For goods, ₹ 40 lakhs and for services ₹ 20 lakhs are required to register for GST.
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