Starting a business seems very difficult but can’t be impossible. If you have immense knowledge and dedicated about chasing your dream then it could be done easily without any support and guidance. Most of them successfully established the business but get confused in the process of registering their companies.
Maze of documentation and hectic process raises lot of difficulties in registering a business. Whether it is a One Person Company Registration or partnership, both requires following n number of process. One person company is the company which has sole trader as its member and done entire process itself.
There are various steps involved in registering a one person company including:
- First you have to done director identification number and digital signature certificate.
- After this, you need search for the company name availability.
- File an application for the company’s name availability.
- Further, you get the consent of the nominee in well and prescribed manner.
- File the final incorporation form along with consent, memorandum, articles and other necessary documents.
- Finally, you get the final incorporation certificate from the register of company.
- Now you are ready to commence business under this name.
But if, talked about the Private Company Registration, it also involved lots of hefty paper work. Well, a private company owned by a non-governmental organizations or small number of shareholders. In short, it is a company with private ownership so there is no need to meet SEC (Securities and Exchange Commission’s) which is strictly required for public companies.
Whether, it is the process of registering one company or private company, both are extremely tired process but bring lots of benefits. Only a registered company can improve the tax status which probably seems as a top reason behind company registration.
This will provide amazing protection to your personal assets such as properties, stocks and bonds, vehicles and other valuable asset. It also protects your business name which is vitally imperative to introduce yourself in business world.
Company registration gives you legal way to access global economy and enhance the business at worldwide level. So whenever, you are going to start a business make sure first register the company before starting productivity.