In this article we will discuss Producer Company Registration in Rajasthan, A Producer Company is a Corporate legal entity ( Producer Company Registration ) formed by primary producers, viz. farmers, milk producers, fishermen, weavers, rural artisans, craftsmen. A Producer Organisation can be a producer company, a cooperative society or any other legal form which provides for sharing of profits/benefits among the members. In some forms like producer companies, institutions of primary producers can also become member of PO.
Producer Company is registered as a private limited company with the last word of the producer company in the name comes with producer Limited, There is no limit for the maximum number of members in a producer company and there should be minimum 10 members and the minimum director in the company should be 5.
What are the Benefits of producer Company Registration in Rajasthan
Benefits and Income Tax Act for Agriculture Income
Loan facility can be provided to the members by the company
Can accept deposits in the form of fixed or recurring deposits
Good Pricing for produce
Better management
Procuring at cheaper price compared to individual purchase
Reduced Cost of Transporation
Reduced Cost of Production
Benefit of economies of scale.
Assistance by government in various schemes
NABARD has taken up the cause of supporting and to meet the needs of Producer Companies. It set up a Rs. 50 crore Producer Organisation Development Fund (PODF) in 2011, out of its operating surplus
What is Primary Produce
Primary produce means the produce of farmers from agriculture and allied activities or produce of persons engaged in handloom, handicrafts and other cottage industries, including any by-product and product resulting from ancillary activities thereof.
Primary produce also includes any activity intended to increase the production or quality of the aforementioned products or activities. Persons engaged in agriculture, horticulture, animal husbandry, fishery, sericulture, apiary, handloom, handicrafts, etc., can become members of the appropriate PO. Persons engaged in the collection of minor forest produce are also eligible for membership of PO although they gather these from forests and strictly are not producers
Documents Required for Members and Directors :
PAN card
Aadhar Card
Bank statement or Bank pass book with name address and Last entry should not be older than 2 months
Passport size photograph of all the applicants
Certificate/Identity that all the applicants are involved in the activities relating to producer company
Singapore is Considered as one of the best Countries in the world, Singapore is among the top countries in the list of Ease of doing Business Rankings published by world bank. It takes around 2-3 days to fully incorporate a company in Singapore, In this article we will talk about the detailed procedure on how to register a company in Singapore
Foreign Nationals who wants to register or incorporate a Company in Singapore must engage a Corporate Service Providers who provides Company Registration and Incorporation services, Corporate Service providers are local consultant who are basically authorized by Singapore Company Registry to deal with incorporation procedure, further it is much better to have guiding person with us always who can let us understand and help in legal compliance requirements as mentioned in Company law and regulations of Singapore
Minimum Requirements for Registration a Company in Singapore
Name of Company
Directors of the Company
Shareholding of the Company
Share capital of the Company
Registered office address of the Company
Company Secretary of the Company
Name of the Company
Name approval is the first step for registration of Singapore Company , name approval application is required to be filed online to ACRA.
Please make ensure that before applying for new name of Singapore Company you must follow the following guidelines:
The name cannot be identical or similar to an existing business in Singapore
The name must not be trademark registered for
The name cannot be vulgar
The name must not be applied by another company and is approved
If the Name contains the word like “Legal” “Law” “Broker” or “School” , This is subject to approval from respective regulator and may take time in name approval process.
It takes around 1 hour to 1 Day for name approval
Name approved is valid for 120 Days from the date of approval
Directors of the Company
Directors of the Company plays the main role in the functioning of the company , following are requirements for Directorship in Singapore Company :
Both Foreign Nationals and Singapore Resident can be Director in Singapore Company
One Resident Director is mandatory for Singapore Company
Corporate cannot be Directors in Singapore Company
Shareholding of the Company
Company must have minimum 1 Shareholder
Maximum Shareholders can be up to 50
Natural Person or Corporate Entities both can be shareholders
Share Capital of the Company
Minimum Share Capital is S$1
If Company wants to increase its Share Capital it can do so by injecting additional funds to the capital of the Company
Registered office address of the Company
Every Company is required to have registered office address of the company within Singapore, Company is required to maintain and keep statutory documents at the registered office address of the company.
Company Secretary of the Company
Every Company is required to appoint Company Secretary within 6 months from the date of incorporation of Company
Company Registration is simple , quick and hassle free in Singapore, it will take around 1 to 3 days to incorporate a Company in Singapore, following are the steps required to followed for registration of Singapore Company
Choose Corporate Service Provider
Documents
Due Diligence form
Reserve Your Name
Signing of Company Registration Documents
Application for Incorporation
Choose Corporate Service Provider
First thing that you need to do is to choose Corporate Service Provider who is officially registered company service provider.
This will help your new company to comply with Singapore Accounting and corporate regulatory Authority (ACRA), an Agency for Company Registration of Singapore government.
The Corporate Service provider will guide you through the complete business incorporation procedure according to your needs.
Now you are required to file Singapore Company Registration On boarding form.
Documents required for Incorporation of Singapore Company
For Individual Shareholders
Following Documents are required for each Officer, Shareholder and Beneficial Owner of the proposed company:
Passport copy
NRIC or Residency card , if applicant is Singapore resident
Residential address proof (i.e. a driver’s license, a recent utility bill, rental agreement, etc.)
Brief professional background. Brief Professional Background can be provided in the form of a curriculum vitae (CV), resume or link to the person’s LinkedIn profile or other profile.
For Corporate Shareholders
If the shareholder is a corporate entity, the following documents will be required for the corporate entity:
Certificate of Registration issued by the Registrar of the jurisdiction where the company is registered
Company Extract from the Company Registrar of the jurisdiction where the company is registered that contains the following information:
Company’s name, Registration number, and Registered address
Paid-up Capital and particulars of all Shareholders and Directors
Business activities that the Company is engaged in
Authorized Person Resolution passed by the director(s) of the shareholding company that includes the following:
Authorization to hold shares in the proposed Singapore Company
Appointment of an Authorised Person to sign the Singapore Company formation documents on behalf of the shareholding company
An ownership structure chart that identifies the Ultimate Beneficial Owners (UBO) of the shareholding company. Identification documents for the key UBOs may be required for KYC due diligence.
Due Diligence Form
Due Diligence are carried out by Company Service Providers for foreign nationals that the proposed promoters of the Company are legitimate and their business activities are in according to laws of Singapore.
Due Diligence helps both Promoters and Corporate Service providers from problems arising out in futures and it will be in better interest of both promoters and corporate service providers
This helps protect both your interests and the interests of your company registration service provider. While Singapore is one of the most transparent places in the world to do business, it’s important that it’s a level playing field for everyone.
It is must that you must file the company on boarding form accurately with correct information so not to face any difficulties while incorporating a company.
Reserve Your Name
Once the above steps are complete you can now proceed for name reservation application , Please note that name reservation should be in accordance with the guidelines as mentioned above.
Signing of Company Registration Documents
Corporate Service provide will send you required documents for singing and you need to get the documents signed asap and sent it to your CSP
Application for Incorporation of Company
Once the Above documents are signed and sent , corporate service provider will file incorporation application
To carry on a digital marketing business in India you need to register your business with any other business structures available to do business in IndiaFollowing options are available for registration of a business structure
Proprietorship firm registration
Partnership firm registration
LLP Registration
Company Registration
Digital Marketing Agency Business is service based business where revenue is dervied from providing service for generating sales and leads through online platforms.
Proprietorship firm business
If you are a single individual and wants to the start out the digital marketing business you need and you do not want to spend much more money.
Start out with proprietorship firm business it is the most easiest and significantly used platform for small businesses this type of a business you do not need to spend much money on registration and compliance part and all what you can do is can be done and this form also the proprietorship firm is no different in yourself in this case you need your own personal account number that is pan number to be used while registration of this firm.
While filing the tax return form to the proprietorship firm you are filing your own personal return under the business income head.Under the income tax provisions you will get the benefit for the slab rates prescribed and will be taxed accordingly
Partnership firm business
If you are carrying on business with one or more persons that is partners you may start the digital marketing business and the partnership firm business modelpartnership firm business model gets significant popularity in the Indian market. It provides very easy registration as well as managing compliances.Register of firms do not require any financial reporting from a partnership entity and only you need to file the tax returns the registrar of firms require reporting only when there is a change in a constitution of a firm.
LLP business form
LLP business structure is none other than a partnership firm business with the benefit of limited liability.Here the benefit of limited liability provides a significant benefit to the partners in case of insolvency and liquidation of an LLP has personal property of the partner will not get influenced or will be under the obligation unless the personal guarantee has been provided by the partner to the extent.The tax structure and the partnership firm and limited liability partnership is significantly same as there the same provisions that apply to both the entities except few.For registration of a limited liability partnership the name of LLP should be very unique and there should not be any company or Trademark registered under the category of digital marketing services.
Private limited company business form
Private limited company is most popular business structure in India with benefit of a company and limited liability.Private limited company business structure needs to be understand before forming it this business structure provides shareholders and directorsShareholder are the investors in the company who provides capital to run the business of the company directors are interested with duties and powers to run the business very effectively.Further Director and shareholders can be the same person.Directors takes salary from the company for the services provided also if the directors are non executive directors company may give sitting fees for attending the board meetings.Father and the only private limited company structure you can provide stock options facility to your employees, stock options facilities are very important scheme for any of the growing startups that require employees to retain with them.Under Stock options facility employees are provided with options to to buy shares of the company at a future date on a predetermined price (all these conditions are mention under the esop scheme)ESOP provide significant value creation for employees where they sense the ownership in the company and if the value company increases significantly due to successful business the wealth of employees grow significantly.
Registration of all the business structure the applicant needs to provide the KYC documents and KYC for the business address place
Following KYC documents are required from individuals
With the introduction of the incorporation form spice + the ministry has made mandatory to get ESIC and EPF registration along with the bank account of the company in this purpose the stakeholders has got confused about the filing of the returns and EPF and ESIC as all these companies incorporated have laser numbers of employees then that are prescribed under these respective acts and not required to comply with respective regulations.
In this regard ministry has come out with the clarification that the return filing for these companies are not mandatory unless they cross the threshold prescribed under the respective acts
As per MCA website update
New companies incorporated through SPICe+ and thereby have obtained EPFO/ESI numbers will have to file statutory returns only when they cross thresholds prescribed under the relevant Acts.
In this article today we will discuss the one-person company (OPC) , what is one person company (OPC) and how we can register or incorporate a one-person company in India
the Companies Act 1956 does not provide the incorporation of one person company with the new enactment of the Companies Act 2013 the one person company concept was introduced and the procedure and incorporation of one person company as he started from the Inception of Companies Act 2013 from April 2014 onwards major provisions of the companies it was introduced to be effective and one person company (OPC) procedure for incorporation have been started.
The concept of one person company is simple that a single individual can also incorporate a company without having any other shareholders with him or partners. An individual can incorporate a one-person company and that one-person company will be incorporated as a private limited company and can thereafter be converted to that normal private limited company having a minimum of two shareholders if the individual was to convert at a future date.
Before the Inception of the one-person company, there was the only option with a single individual to run a proprietorship concern and the most disadvantage for the proprietorship concern is that it has unlimited liability, Running a business under one person company provides an individual with limited liability protection.
Procedure to register a one-person company (OPC)
The procedure for registration of one person company for a normal private limited company is more or less same except the measured trains between these are there in case of one person company only a single individual will be the director and shareholder of the company while in case of other there is a requirement of minimum 2 directors and shareholders while in case of one person company you will require one person has your nominee as well.
Information required for One Person Company (OPC) Registration :
Name of Company
Address of Company
Business Activity to carried on by Company
Mobile Number and Email id of One Person Company
Director of One Person Company
Shareholder of One Person Company
Nominee in One Person Company
Name of Company:
Unlike a normal private limited company, one person company name should also and with the private limited file including the word OPC in its name, Name of one person company should be unique and there should not be any other company registered in a similar name or there should not be any registered trademark in the name of the one-person company. TM that we will search will depend on the category of business activity of the one-person company.
Address of Company
Unlike any other company one person company should also have its own registered office address within 30 days of its Incorporation so you can incorporate a one-person company while providing the communication address and thereafter within 30 days of registration of the company, you can provide the registered office address for the company. If your one-person company is already having a rest office address you can provide that at the time of incorporation as well.
Following documents are required for the registered office address of the One Person Company (OPC) :
Electricity Bill
Rent Agreement , if office is on rent
NOC from Owner
Business Activity to carried on by (OPC) Company :
The business activity of one person’s company should be clearly mentioned in the main objects of the memorandum of association of a company, Main objects mentioned in the memorandum of association of the company is something that a company can only carry on. At the time of incorporation of a one-person company e memorandum and articles of association are required to be submitted for approval to the registrar.
Mobile Number Email id of One Person Company (OPC) :
The director and shareholder of one-person companies to designate one email id and mobile number has email id and mobile number of one person company so that all the communication that he may receive on that email id and mobile number from register and other related authority is where the email ID is provided. the email id and mobile number can be of the director and shareholder himself for he may designate any Other ID is the email ID of a one-person company.
Director of One Person Company (OPC) :
In one person company a single individual can also become a director of that company the director of the one-person company is someone who runs the operations of the company operate the bank account in behalf of the company and carry on their duties as per the provisions contained Companies Act 2013
Following documents are required for the Director of One Person Company (OPC) :
PAN card
Aadhar Card
Bank Statement/ Telephone/Mobile Bill
Photo
Mobile number
Email Id
Shareholder of One Person Company (OPC)
A shareholder or member of a one-person company is a person who is the sole owner of the one-person company and has all the shares of the one person company with him only.
Nominee in One Person Company (OPC) :
Nominee in one person company is a person in home the shares of one person company will ways in the event of the date of the sole owner of the one person company at the time of registration application form INC 3 is required to be signed by the nominee to become nominee in the one person company
Step by Step Procedure for One Person Company (OPC) Registration
Submit all the required documents to Company Regisration Consultant ( you may email us at support@fastlegal.in)
Apply for Digital Siganture
Signing of Nominee Form and other realted documents
Application to registrar for Incorporatin of One Person Company
Approval by registrar
Issue of Certificate of Incorporation
Issue of PAN and TAN
Issue of ESIC and EPFO Registration
Generation of Bank Account Number of One Person Company
Can One Person Can Incorporate Two One Person Company (OPC)
No, As per Provisions of Companies Act, 2013 a signle individual can only incorporate only one one person company, if he resigns or sold shares of eariler incorporated One Person Company than New OPC Can be Incorporated by him.
Can One Person Comany (OPC) can have Two or more Director
Yes, One Person Company can have two or more Directors but cannot have more than one shareholder/member
Can One Person Company purchase Shares or Other Company or can invest in shares of other company
No, One Person Company cannot make Investment in other Company
No person shall act as a research analyst or research entity or hold itself out as a research analyst unless he has obtained a certificate of registration from the SEBI under (RESEARCH ANALYSTS) Regulations, 2014
Who is Research Analyst
Research analyst” means a person who is primarily responsible for
preparation or publication of the content of the research report; or
providing research report; or
making ‘buy/sell/hold’ recommendation; or iv.giving price target; or
offering an opinion concerning public offer,with respect to securities that are listed or to be listed in a stock exchange, whether or not any such person has the job title of ‘research analyst’ and includes any other entities engaged in issuance of research report or research analysis.
Explanation.-The term also includes any associated person who reports directly or indirectly to such a research analyst in connection with activities provided above
What is Research Report
“research report” means any written or electronic communication that includes research analysis or research recommendation or an opinion concerning securities or public offer, providing a basis for investment decision and does not include the following communications:
comments on general trends in the securities market;
discussions on the broad-based indices;
commentaries on economic, political or market conditions;
periodic reports or other communications prepared for unit holders of mutual fund or alternative investment fund or clients of portfolio managers and investment advisers;
internal communications that are not given to current or prospective clients;
communications that constitute offer documents or prospectus that are circulated as per regulations made by the Board;
statistical summaries of financial data of the companies;
technical analysis relating to the demand and supply in a sector or the index;
any other communication which the Board may specify from time to time
Qualification and certification requirement for Research analyst
A professional qualification or post-graduate degree or post graduate diploma in finance, accountancy, business management, commerce, economics, capital market, financial services or markets provided by:
a university which is recognized by University Grants Commission or by any other commission/council/board/body established under an Act of Parliament in India for the purpose; or
an institute/association affiliated with such university; or
an institute/ association/university established by the central government or state government; or
autonomous institute falling under administrative control of Government of India; or
professional qualification or post-graduate degree or post graduate diploma which is accredited by All Indian Council for Technical Education, National Assessment and Accreditation Council or National Board of Accreditation or any other council/board/body set up under an Act of Parliament in India for the purpose; or
a professional qualification by completing a Post Graduate Program in the Securities Market (Research Analysis) from NISM of a duration not less than one year; or
a graduate in any discipline with an experience of at least five years in activities relating to financial products or markets or securities or fund or asset or portfolio management and
An individual registered as research analyst , individuals employed as research analyst and partners of a research analyst, if any, shall have, at all times, a NISM certification for research analysts as specified by the SEBI or other certification recognized by the SEBI from time to time
Capital Adequacy Requirement for Research Analyst
A research analyst who is individual or partnership firm shall have net tangible assets of value not less than one lakh rupees
A research analyst who is body corporate or limited liability partnership firm shall have a networth of not less than twenty five lakh rupees
“net worth” means the aggregate value of paid-up share capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated losses.
Step By Step Procedure for Registration as Research Analyst With SEBI
Fullfill Experiance and Education Qualfication reequirements as mentioned above
Pass required NISM Examination
Ensure to have Net Tengible assets of Rs. 1 Lakh for Individual /partnership Firm or Networth of Rs. 25 Lakh for Companies /LLP
Application to SEBI for Research Analyst Registration inForm A
Payment of Application fee
Reply to Clearification raised by SEBI
Approval by SEBI
Payment of Registration Fee
Issue of Certificate of Registration by SEBI
Fee for SEBI Research Analyst Registration
Application Fee
For individuals or partnership firms: Rupees 5000;
For Body Corporate including Limited Liability Partnerships: Rupees 50000
Registration Fee
For individuals or partnership firms: Rupees 10000;
For Body Corporate including Limited Liability Partnerships: Rupees 500000
Research Services Details in Application
Details of the proposed research services
Details about internal policies and procedures to effectively address conflict of interest
Details about the standard disclosures to be provided
Any other relevant information pertaining to research services provided
Office Requirements for SEBI Research Analyst Registration
Details of office space, office equipment, furniture and fixtures, communication facilities, research capacity, research software for undertaking research analysis.
Declaration that the applicant has the necessary infrastructure to effectively discharge the activities of research analyst.
Documents required for Research Analyst Application (Individual Applicant)
In this article we will discuss starting social media marketing agency business in India, with the growing popularity of social media and perfect targeting mediums that provided by the social media websites, social media marketing agency business is now gaining popularity has the traditional form of advertising means are costly and provides the less conversation, what are the hand if you are doing a social media marketing with the very minimum cost you can start getting the actual customers that you need.
Social media marketing spending amounts to increasing the main requirement of the agencies who can handle the social marketing agency business for the clients.
Following steps are involved for starting social media marketing agency business
1. Learning the social media marketing:
If you’re starting the social media marketing business you need to know
how the social media marketing works, what are the steps involved, how you can acquire more targeted customers to your clients need,
To learn everything that social media marketing provides this will take time to get expert knowledge in the social media marketing but the first step involved is to get the learning how it works, there a penalty of online courses available or you can get it out by doing it yourself with experimenting the Facebook ads, Google ads, etc.
2. Setting up of website and social media accounts for your social media marketing agency
once you get some understanding about how the social media marketing works to start out by setting up you on the website and social media pages
3. Getting the first client
Getting the first client for the social media marketing business is not an easy task, to get the first client you need to do some promotional activities, the best thing that you can do is to offer a free service for first clients for a period of initial months this will help the client to have faith on you and once you prove the results, you will be getting a testimonial for your next clients
4. Getting your agency registered as a private limited company
Once you start out the actual business operations you can go for starting out your own private limited company and get all the activities of your agency get done through the bank account of the private limited company, you should raise all the invoices in the name of your company and accept payments in the bank account of the company.
You can get the payment gateway integration with your company bank account on accept payments via payment gateways
5. Maintaining the Regular Compliances for your Company
As you register your business as a private limited company you need to do certain compliance as per the government regulations, it is very much mandatory to do them all the government compliance is on time to get your business running smoothly, you can take help of consultants to manage your compliance very easily, please note that known maintaining the legal compliances can make you in trouble as there are very high penalties for non-compliances.
Fastlegal provides business registration and legal compliance Management services to all type of businesses, if you need any help you can directly email at mail@fastlegal.in or call us at 9782280098
The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December 1985.
APEDA or Agricultural & Processed Food Products Export Development Authority is a government organization, established in 1985 through an act for the development and promotion of export for the scheduled products. The scheduled products are the one that are mentioned under the APEDA act and the exporters of these products are required to be registered under APEDA. This organization is liable to provide financial assistance, information and guidelines for the development of scheduled products.
APEDA registration is necessary as it is responsible for export promotion and development of scheduled products such as Vegetables, Fruits, Poultry products, Meat, dairy products, biscuits, confectionery, bakery products, jaggery, honey, and sugar products, chocolates, cocoa products, floriculture products, pickles, papads, and chutneys, etc.
Objectives of APEDA Authorities
In accordance with the Agricultural and Processed Food Products Export Development Authority Act, 1985, (2 of 1986) the following functions have been assigned to the Authority.
Development of industries relating to the scheduled products for export by way of providing financial assistance or otherwise for undertaking surveys and feasibility studies, participation in enquiry capital through joint ventures and other reliefs and subsidy schemes;
Registration of persons as exporters of the scheduled products on payment of such fees as may be prescribed;
Fixing of standards and specifications for the scheduled products for the purpose of exports;
Carrying out inspection of meat and meat products in slaughter houses, processing plants, storage premises, conveyances or other places where such products are kept or handled for the purpose of ensuring the quality of such products;
Improving of packaging of the Scheduled products;
Improving of marketing of the Scheduled products outside India;
Promotion of export oriented production and development of the Scheduled products;
Collection of statistics from the owners of factories or establishments engaged in the production, processing, packaging, marketing or export of the scheduled products or from such other persons as may be prescribed on any matter relating to the scheduled products and publication of the statistics so collected or of any portions thereof or extracts there from;
Training in various aspects of the industries connected with the scheduled products;
Such other matters as may be prescribed.
Products Included(APEDA is mandated with the responsibility of export promotion and development of the following scheduled products:)
Fruits, Vegetables and their Products.
Meat and Meat Products.
Poultry and Poultry Products.
Dairy Products.
Confectionery, Biscuits and Bakery Products.
Honey, Jaggery and Sugar Products.
Cocoa and its products, chocolates of all kinds.
Alcoholic and Non-Alcoholic Beverages.
Cereal and Cereal Products.
Groundnuts, Peanuts and Walnuts.
Pickles, Papads and Chutneys.
Guar Gum.
Floriculture and Floriculture Products.
Herbal and Medicinal Plants.
Basmati Rice has been included in the Second Schedule of APEDA Act.
In addition to this, APEDA has been entrusted with the responsibility of monitoring the import of sugar as well.
APEDA also functions as the Secretariat to the National Accreditation Board (NAB) for implementation of accreditation of the Certification Bodies under National Programme for Organic Production (NPOP) for organic exports. “Organic Products” for export are to be certified only if Produced, Processed and Packed as per the standards laid down in the document – “National Programme for Organic Production (NPOP).”
APEDA’S PRESENCE
APEDA has marked its presence in almost all agro potential states of India and has been providing services to agri-export community through its head office, 12 Regional offices.
If you wish to export the scheduled products, APEDA registration is necessary.
In addition to this, the exporters will get various financial assistance through the schemes formulated by APEDA.
It provides other services such as advertisement, packaging development, database up-gradation, surveys, etc. and hence it helps the exporters in brand publicity.
APEDA provides guidelines to exporters about the different products and countries to consider exporting in the future.
There are multiple training programs organized by the APEDA for various schedules products. It would, therefore, help improve their business.
Registered members can participate in training programs organized by APEDA for various scheduled products and thereby improve their business.
Certification Agencies:-
PRODUCTS
CERTIFICATION AGENCIES
Floriculture and seeds
Dept. of Horticulture/DIC/SIA/FSSAI
Fruits & Vegetables
Dept. Of Agriculture/Horticulture/DIC/SIA/FSSAI
Groundnut/Pulses/Guar gum
DIC/SIA/FSSAI/Udyog Aadhaar Memorandum issued by Ministry of MSME
With the ease in incorporation procedure for Company , MCA has come out with another notification that waives off filing of form INC-12 for Section 8 Companies, form INC -12 was required to be filed to ROC after obtaining name approval of the Company for obtaining Licence for Section 8 Company. Once the Licence for Incorporation of Section 8 company is obtained , the Company Incorporation application in SPICE form can be filed.
Now MCA has substituted the Form INC -12 with SPICE form and SPICE form to be amended accordingly.
Further in case of draft memorandum , the word Memorandum , further this also eases the incorporation process , as draft MOA was required to be filed with INC-12 earlier when applying for section 8 Company licence.
In case of Existing Company Company wants to Apply for conversion into section 8 company , the form INC -12 will be required to file for Application for grant of License to an existing company under Section 8
Construction business can be done both government or in a private sector in India for private sector business you need to apply for vendor code to the top construction companies in India who will assign you the particular construction work in the particular area through a work order and you may also apply construction work for a government projects by applying the e procurement website of State government or Central government,
please note that for government contractor you need to apply for empanelment as a contractor with the each of government departments.
Procedure for registration of a construction company in India
In this article we will discuss about registration of construction company in India, the construction industry is a very high growth industry right now and it is expected to remain high in the next coming years, the construction business is a capital intensive business and you may require to buy an equipment to carry on the business process human need labor and most importantly you have to decide your category of construction whether you want to be a general contractor or you want to acquire a specific niche for your business.
Construction Company can be registered in the following type of business is structures in India
Proprietorship Firm
Partnership firm
Limited limited partnership
Private Limited company
Public limited company
You can your start your construction business with any of the above mentioned legal entities in India
You can choose to register any one of the legal entities in India in this article we will share you the information about registration of private limited company for construction business in India.
As private limited company is the most popular form of business structure for doing the construction business in India and it is now very easy to register a private limited company
Procedure for registration of private limited company for construction business in India
Decide name of the company
The name of the company e will be like ABC construction Company Private Limited, ABC construction Private Limited, ABC infra Private Limited, ABC infrastructure Private Limited.
Objects of Company should have Construction and Infra Activities
Memorandum of association of private limited company contains the main objects that are required to be carried on while pursuing the activities of the company, the main object of the company should contain the construction activities and infra activities so that company can legally do the construction business in India as per its charter documents.
Prepare documents required for construction company registration
Following documents are required for registration of a construction
Pan Card
Aadhar card
Bank Statement with current address
Photograph
Mobile no
Email id
Electricity bill office address
Rent agreement office address if office address is on rent
NOC from owner
Please note that minimum two members and persons are required for registration of a private Indian company so that the documents required will be of minimum two persons who will be directors of the company and also the shareholders, you can have different scenario use as per your requirements that who will be directors, who will be shareholders, how much shares will be held among the directors for shareholders
Find company secretary or any other professional for your registration process of your construction company
Now you can find the company secretary who will assist you in guiding the registration process for your private limited company for construction business also incorporation documents are required to be attested by the professional company secretary, chartered accountant or cost accountant in practice
Choose choose bank account in which you want to open a bank account for a company
The MCA has eased the incorporation and business process as now it is mandatory to have a bank account for every new company at the time of incorporation only so you need to choose the bank account in which you want to open a bank account and once your company is registered you will get a bank account number on your email id and Bank officials will contact you.
Submission of incorporation application for registration of as Private Limited Company (construction Company)
Once the above formalities are completed now you are required to apply for incorporation of a private limited company online through Spice + , if you have appointed any professional company secretary or chartered accountant or a cost accountant then he will process your incorporation form.
Registration of Private Limited Company by registar of Companies
Once the above application is approved by the registrar of companies then you will receive the certificate of registration of a company and your private limited company is now registered
What legal documents I will get once the company is registered
Along with the legal registration of a private limited company you will get the following documents aur certificates issued from various departments along with the company registration
How to enroll with Limited companies for construction company in India
Now if you are doing the construction work initially you need to enroll as vendors with different Limited companies that is big construction companies in India, these companies will provide you a construction work according to the profile of your company if they finds it good you can start initially with a small amount of work
Preparation of company profile of Construction Company in India
I need to create a business profile of your company business profile should mention all the details regarding company its directors and promoters the past experience and future prospects of the director’s and the expertise in education qualification of directors
Following points to be mentioned in a profile of construction company
Name of the company
Address of the company
Details details of directors along with their experience and education qualification
Projects undertaken or association if any
Details of past experience
References
Any other relevant details
Search for the project manager of company and book appointment
Now search for the project manager of a company in which you want to get the work and book appointment with him for meeting
When the meeting is fixed you need to submit your profile and ask him to provide particular work at the site.
Get Ebook on Construction Company
Legal Guide
Business Entity Selection
Procedure for registration of a construction company in India
How to enrol with Limited companies for construction company in India
Preparation of company profile of Construction Company in India
Search for the project manager of company and book appointment
Submit quotation for the project work of construction company
Now you are required to submit the project quotation to the project manager for a company designated officer
Issuing of work order by company
Once company is satisfied with your profile and your quotation then company will issue a work order , work order will mention all the terms and conditions regarding payment and work to be done so I need to carefully read the details conditions of the work order.
Acceptance of work order
Once you are satisfied with the work order terms and conditions and payment terms then you can accept the work order and send the acceptance to the company
Start your construction activities
Now start your construction activity activities at a particular site provided in the work order.
Issue of work contract invoices to company
for the work completed you need to issue the particular work contract invoices that you got to the company time to time and get the payment for the work done.
Filing of your GST returns
Now file your GST returns according to the work order invoices your issued and input credit you have claimed this can be done by maintaining the regular books of accounts of your company for that you may hire an experienced accountant in this purpose also you can take help of fast legal team for completing your accounting and GST return filing work.
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If you want to register your construction company you can contact us by filing the below form
