Different Types of Company Registration in India

To operate in India, businesses must first register themselves, according to different types of company registration in India, to fix their organizational structure. The amount of taxes and other compliances are often decided according to the company’s registration type of business entity. Alongside this, the types of company registration also help the business gain advantages in the Indian market and get further assistance from the local bodies. Curious about what are the types of company registration according to Indian law? Then, read more about the types of registration companies in India, their eligibility, and the process. It will also help you determine what type of company registration is good for your business.

Types of Company Registration in India

According to Indian law, multiple types of company registration are available for different types of companies. The company registration process is now seamless, and all types of company registration logos and registration numbers are easily available within two to three weeks of the application process. 

Partnership Company registration

Partnership company registration is a specific company registration of business where two or more partners have a particular ratio to share the profit and losses and jointly conduct the business activities. All partnership firms in India must register according to the Partnership Act of 1932. 

Documents needed

• A duly filled registration application form should be filled out and submitted to the District registrar with the following documents:
• The first thing you need for this company registration type of company is the company partnership deed. It is a type of agreement that clearly describes the takes, duties, liabilities, and responsibilities and shares details of each partner. The authorities should notarize the deed. 
• The company should have a registered name and a valid address.
• The address proof (land deed, sale deed, or rent agreement) should be submitted during the registration process.  
• Individual PAN cards, Identity and address proofs, and business PAN cards, alongside their company-related documents

Private limited company registration

Private limited companies must go for the prescribed type of company registration according to the Companies Act 2013. Private limited companies trade their shares privately to only selected people instead of training publicly through the stock exchange. The stakeholders only need to be liable for the unpaid subscribed capital. Such companies must have at least two shareholders and a minimum of one Indian or Resident Indian director. 

Documents required 

• Valid and legally approved company name
• DIN certificate issued to all present directors
• DSC certificate of each shareholder
• A valid address  proof like the rent agreement, NOC from the office premises owner or Property ownership deed
• Identity proof, PAN card, and passport-sized photos of each shareholder
• Memorandum and Articles of the Association

How to complete registration

Companies need to file the INC 32 or SPICe Plus through the MCA website and submit all the documents. Part A should be filled first. After 20 days or after getting the approval from ROC, part B should be filled. 

One-person company registration

 A company owned by a single individual who holds all the shares and is liable for all the profit must also register to operate in India. Such companies are usually registered similarly to Private Limited companies. 

Documents required

• Identity proof, address proof, and PAN card of the owner
• Nominee details and nominee consent form 
• PAN card and financial documents of the company
• DC and DIN of the owner

Registration

Like Private Limited Companies, registration is also done through the MCA website by filling out the SPICe Plus form. 

Limited Liability Partnership Company

Limited Liability Partnerships (LLCs) are registered in India as per the LLP Act 2008. LLP companies have multiple partners who are owners and shareholders, directors, and managers. The owners are more independent and can manage their assets as they want. Any LLP should have at least two partners, one of whom should be an Indian resident. The LLP should also have a valid address, PAN Card, and name. 

Documents needed

• Office address proof, company PAN card, LLP Agreement that is filed within 30 days of registration
• Identity proof, address proof, and PAN card of each partner
• DSC and DPIN of each partner

Procedure

For agitation, the company officials must fill out the FiLLiP form from the MCA website and wait to obtain the LLP registration certificate. 

Public Limited company registration

Are you an owner of a Public Limited company in India? The company registration type of business entity is also done under the Companies Act 2013. Public limited companies are jointly owned by multiple shareholders (at least seven individuals; one must be an Indian resident) who are liable according to the shares they own. The shares of Public limited companies are usually traded publicly through the registered stock exchange. They can be transferred easily at any time. 

Documents and Registration Process

To complete registration, officials must fill out the SPICe Plus form on the MCA website. First,the Part A should be filled in to get Company ROC; after getting ROPC, part B should be duly filled with the following documents-

• Valid address proof of the company
• DSC and DIN of all shareholders and directors
• Memorandum of association and articles of association
• Valid Identity and address proof of all shareholders alongside their PAN Card details
• Company PAN and other related details

Section 8 company registration

For non-profit organizations, a special type of registration of a limited company is prescribed under Section 8 of the Companies Act 2013. It can be owned by one individual or multiple shareholders. These companies can also be registered as private or public limited companies and are eligible for tax benefits after registration. 

Documents required for registration

• Form INC-12
• Declaration forms 14, 15
• e-AOA in Forms 13 and 14
• IT return details, board reports and audit reports for the last three years.
• Approval or NOC from the central or state regulatory authority
• Resolution copy
• Assets and liabilities of the shareholders

Conclusion

There are different methods available for registering companies in India. Company owners can decide on the process according to their company structure and business. Many organizations based in various parts of India, i.e., Rajasthan or other states, are actively assisting companies in India in registering and starting their business journey!