The Ministry of Corporate Affairs (MCA) is a Government of India portal that contains every detail regarding the companies that are incorporated in India. From public limited companies, private limited organizations to limited liability partnerships (LLP), the MCA has details of every type of company listed within the portal.
Hence it is supremely important to register your company too if you are a budding entrepreneur and intent on floating your organization in the market.
Once your company is registered under the MCA, you can establish a place of business in India.
At S3 Solutions, we understand the importance and benefits of registering your company under the MCA and that is why we provide holistic services to startups and entrepreneurial ventures to register themselves fruitfully.
What is MCA Registration?
MCA registration is one of the foremost steps of startups to legally establish their entity. Once you are registered under the Ministry of Corporate Affairs as a company, you establish your legal right to do business.
It is one of the most essential steps that startups should follow to ensure their viability.
Although this process used to be quite hectic and unaffordable for entrepreneurs and company founders earlier, the advent of the internet and the MCA registration portal has made it easier for startups these days.
The MCA company registration does not distinguish your company based on its size or structure. However, the MCA registration fees might vary.
Once the MCA company registration fees are paid and the necessary steps are followed, you can get legal protection for your company. Following this step, the company can start operating in India.
At S3 Solutions, we ensure seamless and streamlined MCA registration for your startup.
What is the Importance of MCA Company Registration in India?
Picking the right company structure is essential for your startup in order to operate it efficiently. Apart from that, it will help your business to meet the right targets.
The mandatory legal compliance set up by the MCA requires every business to be registered in India.
Although, we at S3 Solutions ensure that the MCA company registration becomes a pretty simple, easy and affordable step, every reputed startup needs this process because of several reasons.
- MCA company registration gives your startup an edge in the market to do business.
- The company registration also ensures legal protection for your startup.
- A flawless company registration will also lower your tax burdens.
- An MCA company registration limits liability for your company.
- A proper company registration takes away the burden off from the shoulders of the entrepreneur.
You have to perform an MCA registration check in the designated portal to know the status of your company registration application.
What are the Benefits of the MCA Company Registration?
Apart from granting legal recognition for your company, the MCA company registration has several other benefits.
Protection of Limited Liability:
A Limited Liability Partnership or LLP is a separate legal entity. It has been established under the Limited Liability Act, 2008, with the Registrar of Companies (ROC). Here, the liabilities of the partners are limited to their agreed contribution levels.
A limited liability is one of the greatest benefits of company registration. As a sole proprietor, you are absolutely responsible for every kind of business results, including business failure, loss and debts.
However, an MCA company registration as a limited liability concern helps the owners and the directors stay protected in case of a business failure.
Registering the company ensures that your personal assets are protected and not jeopardized in case of such events that can put partnerships in trouble.
Low Tax Liabilities:
The tax rates for an individual in India are higher compared to the tax rates on companies and small business units.
It is because the startups and other ventures are subject to tax deductions under various provisions like advertisements, research and development, education, maintenance and repairs.
On the other hand, a sole trader has to encounter the same tax slab as an individual citizen of India. Therefore, registering your company is essential as it lowers your tax burdens.
Recognition of the Company as a Legal Entity:
An MCA company registration ensures that the startup gets a legal status or a recognition under a specific jurisdiction. The registration establishes the existence of the company that is separate from its directors and other individual members.
A company registration is essential for the company to grow its market and expand its business since legally recognized organizations are more preferred by clients and customers both.
Flexible Loan Process with a Business Bank Account:
Once the MCA company registration is done, it helps the company to establish a business bank account to acquire loans from the bank.
A business bank account is one of the most authentic assets of a startup or any other organization that helps them to demonstrate a valid proof of a registered business entity.
Once your business is registered, it helps you to get loans sanctioned easily. It also establishes trust amongst lenders and investors who want to push money into your business.
What are the Services that S3 Solutions provides in Regards to MCA Company Registration?
At S3 Solutions, we try to make your MCA company registration a fast and seamless process. Our operations help you to get your startup registered and functioning in no time.
We help your startup with the following processes.
Obtaining a Digital Signature Certificate:
Since the registration process of a startup under the auspices of the MCA is completely online, digital signatures are required to file the forms on the MCA portal. We help companies file their DSCs as these are mandatory for the proposed directors and subscribers of the memorandum and articles of the association.
Obtaining Director Identification Number:
The Director Identification Number should be obtained by the specific individual who wishes to be the director of the company. Along with the DIN number, the address proof of that individual is also essential to be incorporated in the company registration form.
MCA Portal Registration:
The first step for company registration involves filling the SPICe+ form and submitting it in the MCA portal. We help the companies fill up these forms and submit the relevant documents in the MCA portal to initiate the company registration process.
Once registration has been completed, the director of the company is given access to the portal for e-filing of relevant forms and documents and also understanding public documents. Alternatively, this process is tackled by S3 Solutions.
Certificate of Incorporation:
Once the relevant documents have been submitted along with the filled registration form, the application is reviewed by the Registrar of Companies. Once the application is duly verified, he will issue the Certificate of Incorporation of the company.
MCA Registration – Related FAQs:
- What are the different company structures for registration and operation in India?
The different company structures that are registered under the MCA and operated in India are as follows:
- Limited liability company or LLC
- One person company or OPC
- Private limited company and
- Public limited company.
Each has its own set of tax advantages and legal compliances and are ideal for specific business operations.
- What are the documents required for MCA company registration?
The various documents required for the MCA company registration are as follows.
- Proof of identification of the directors and shareholders of the company. Aadhar Card, PAN Card, Driving License, Passport, etc. can be submitted as a proof of identification.
- Proof of address of the directors and shareholders of the company. The latest telephone bill, electricity bill or bank account statement can act as proof of address.
- The tenancy or rental agreement and a letter or an NOC from the landlord to use his/her land as the registered office of the company.
- The sale deed of the company premises.
- DIN and DSC of all the directors of the company. Consequently, you will need a DPIN and a DSC for all the partners in an LLP.