Company Registration in Chennai

We are living in an era that exposes us to numerous entrepreneurial options. Especially after the Pandemic, there is a sharp rise in the number of people getting to set up their own company rather than working with restricted opportunities. In such cases, it is very important to have a clear plan on how to work on the business structure. A registered company is anytime, a legal identity and this is exactly why one needs to get the company registered as quick as possible. Company registration process in Chennai is now better than ever with the aid of technology. All you have to do is look for Company registration consultants in Chennai and your work is half done. Firstly, you need to have a lucid understanding of the different types of registrations that your dream company would fit into. Read on to know more about the formalities and procedures involved in Company registration.

 

Private Limited Company Registration in Chennai

This is probably the most common registration set up. To register your company under pvt limited company registration in Chennai, there must be a minimum of 2 people, one is the Director (this number can go upto 15) and the other is the shareholder (you can have a maximum of even 200) and a capital investment of at least one lakh is required. The office space could be owned or rented. Please be ready with a unique name ready to ensure the speedy private company registration process in Chennai. If you try to have a look at the procedure for registering a private limited Company in Chennai, you will come to know that several documents have to be submitted like the PAN card details of all the directors involved in the business, their photographs, legal proofs like the Aadhar/ Voter ID, a signed agreement between the landlord and the directors and the utility bills of the rented space. The directors will be assigned a Director Identification Number (DIN) and this is also to be submitted.

Private limited Company registration offices in Chennai will direct you to consultants who can give you a picture of why you should pick this process. It offers Limited liability to the partners involved, there is very little risk of losing assets from the shareholders’ end. One highlight of pvt company registration is that there is no worry about who will take charge of the company if the company is dissolved, the shares can be sold or even transferred to another owner. The future of the company is always shielded. It is easy to start and you can raise funds easily as international expansion is possible. Even banks and financial organizations are coming forward to invest or even lend loans to entrepreneurs.

There is a lot of credibility as the data are registered in a public forum so every investor and employee can gain access to the information.

 

Limited Liability Partnership Company Registration in Chennai

The name itself suggests why you should immediately consider finding an LLP registration consultant in Chennai- yes, the risks and liabilities are very less! After the LLP Act 2008 was passed, it has become one of the easiest ways to maintain a business even better than a Private company. The LLP registration process in Chennai is simple and transparent and more importantly – cheap!

To understand the procedure for registering an LLP Company in Chennai, you should make sure you tick the following boxes,

• Your company has two partners
• You have the Digital Signature Certificates (DSC) ready
• An LLP agreement between the partners is signed and documented
• You have a registered office in India
• Documents like PAN, Aadhar ID, photos and Bank statements are ready

Agencies all over are eager to work with LLP companies, thus making it a boon for people setting up small businesses. The compliance is low ie, no audit is required until your company raise a capital of 25 lakh and a turnover of 40 lakh. Perpetual existence is a perk of a registered LLP Company.

 

One Person Company Registration in Chennai

Imagine just a single person setting up a company of his dreams to have full authority to himself. This also means he is accountable yet answerable just to himself. This could be you if you have always had a thing for being your own boss. All it takes to reach out to an OPC registering consultant in Chennai is to have one director and a member, it is perfectly fine even if the both are the same. It requires much lesser compliances than the other company set ups. If you have a registered office in India, Rental agreement or NOC from the landlord, records of utility bills, Identity proofs and photos – you are eligible to proceed with OPC registration process, without a doubt, in Chennai.

There is a public database that has all the records of company information so that funds can be raised easily. No minimum capital is required, making the incorporation easy. Just like pvt and LLp companies, this also offers perpetual existence. Until your business has secured 2 crores as turnover, you will never have to worry about tax.

After getting your Digital Signature Certificate and Company name approved, you will be expected to submit a Memorandum of Association (MoA) and Articles of Association (AoA). An incorporation Certificate will be issued shortly and the process is done.

 

Sole Proprietorship Registration in Chennai

The simplest form of establishing a company is to have a Sole proprietorship Firm registration in Chennai. Managed by just a single unit, it can set you accountable for all the investments, profits and losses. Though proprietorship registration is not mandatory, it is always a safe space to have it done. Although the process is simple, it is difficult to raise funds and poses unlimited liability. Initiatives like groceries, parlours and boutiques can be benefitted through a Proprietorship Firm registration in Chennai.

It is mandatory to apply for PAN and open a bank account with the name of the company. The Shops and Establishment Act mandates it to obtain a Registration Certificate. If the turnover exceeds 20 lakhs, you shall proceed with a GST registration and on the other hand if the establishment is falling under Small or Medium enterprise category, an MSME registration will be required.

The perks of having a Sole Proprietorship Registration in Chennai is that there is less compliance and full functioning authority to oneself. The decision-making process involved in a company is easier as there is no room for unsolicited or redundant opinions or advices. This is easy to begin and economic to survive.

 

MSME Registration in Chennai

The Micro Small and Medium Enterprises is considered to be the mainstay of our country’s economic progress. An MSME registration process in Chennai is not mandatory but it yields a few benefits in terms of loans and taxes. You can avail bank loans with cheaper interests, a few Government tenders may look more accessible with Udyam Registration for a company in Chennai. If you opt for an ISO Certification, the fee shall be reimbursed if your company is registered under MSME. License, approvals and registrations are easier with an MSME certification.

You will have to access the government portal – Udyamregistration.govt.in to get your certification done. If your Micro company has an investment of 1 crore and a turnover of 5 crore; Small enterprise has an investment of 10 crore and a turnover of 50 crore and Medium enterprise has an investment and turnover of 50 crore and 250 crores respectively, you are eligible to register under MSME.

To know more about the udyam registration process and fees in Chennai, reach out to your nearest consultant.

 

Partnership Firm Registration in Chennai

A business set up with two or more people entering into a formal contract ends up as Partnership firm. This has been in prevalence for decades and demands no registration but offers certain rights if registered. The partnership Act 1932 makes Partnership Company Registration in Chennai the best for small enterprises.

After finding a unique name for your business get ready for a partnership deed registration which has to be done with RoC and a certificate will be issued. Apply for PAN and TAN after the approval and the job is half done.