In the year 1991 in India, the LPG policy was adopted. LPG stands for Liberalization, Privatization, and Globalization. Let’s discuss privatization. It has made many changes in our economy. There were many public sector companies not making any profit were shut down and many private Ltd industries came into establishment. Many public sector companies were converted into private sector companies. The government sold its share in the private sector. The government also made categories for the private sector commonly known as Navratna and Miniratna.
But for the establishment of the private sector companies. There should be a minimum of two people starting this company. And a proper procedure for PVT LTD REGISTRATION to be followed to get yourself registered with the government.
Let’s discuss step by step what is the procedure to get yourself registered with the government.
- The very first step for registering yourself is obtaining a DSC. DSC stands for Digital Signature Certificate. The registration process for the company is online and one must need DSC for that. DSC should be collected from any government authorized agency or one can get online also. The cost of obtaining DSC depends upon the agency you are approaching.
- After obtaining your DSC you must apply for DIN. DIN stands for Director Identification Number. The person who wants to become the director of the company should get this certificate. A person once has their DIN they can become the director of many companies. There are different ways to collect your DIN depending on how many directors and many more.
- The third step includes getting your company’s name approved. The ministry of corporate affairs has started a service known as RUN (Reserve Unique Name). RUN gives you only one chance for your name to be approved. If your company’s name matches with any other companies name or trademark or anything then your name will be rejected. Then you have to again re-fill another RUN form and also fill the fees again.
The ministry of corporate affairs has introduced a new form available online known as SPICe. This is a simplified version to get your company registered with the government. This single form performs various functions and has many benefits. Through this single form, one can receive its
- Allotment of DIN
- Reservation of new company
- Incorporation of a new company
- Form for TAN and PAN
- After this comes the e-MOA and e-AOA. e-MOA states the electronic Memorandum of Association and e-AOA refers to the electronic Articles of Association. To make the registration process easy the ministry has made it available online.
- This is the last step of the registration process. As you have already filled the SPICe form then through this form only you can apply for PAN and TAN. You just have to download it and do your digital signature and then submit it at the MCA portal. After the approval, you will receive your CIN (corporate identification number) and now your company is registered successfully.
So, this is the complete process to get yourself registered. As PVT LTD COMPANY REGISTRATION IN INDIA is somewhat complicated and difficult but many agencies have experienced experts to advise you at each step. And the Ministry of corporate affairs has also made it easier then before by making it available online.