Anyone can decide one day to start their new business. The company registration with the state or local government is required to register your business. It is a best choice for a new company for different reasons.The registration is needed for tax reasons or to be legally authorized to run. The company registration is mandatory in India and all the states that belongs in India. The advantages of company registration is very useful for all new business entities.
When you are decided to start a business, there are many problems to examine. Whether a company is registered or not. If the company registration process is to be done in your business. There are some advantages to registering your company. Generally it comes to what tax you will be paying says Mr.Sivasankar a business adviser in Coimbatore. So you may plan to register your new company, it will have a value in the long run.
Why to form a company
There are different forms of business organizations to select from to do business. Such as partnership, sole partnership, joint stock company and co-operative societies, etc., On registration the company earns a distinct legal entity of its own. Once the company registration is done. The company has a common seal. The shares and further interests of members in a company are moveable properties.
Advantages of company registration
The important advantage of company registration with the local or state government is that your company name is not registered anyone. The company registration may be registered with in your state. You may find the nearest ROC in your place. If you don’t know about any registration process, you may contact a company registration consultants. There are many Registrar of Companies (ROC) in India. There are only two Registrar of Companies (ROC) in Tamilnadu State. Only in Chennai and Coimbatore.
There are certain registrations and regulations are required for company registration procedures. You need to produce your valid proof that your business is properly registration with in the rules. If your company registration is properly registered. You have an advantage of open a business bank account in your state. A business bank account is a main benefit for all small business. Because you can discrete your personal acts from your business operations.
A company registration permits you to hire an employees and spend them in accordance to state laws. The company registration with in your state you will get a state identification number. It allows you to on state taxes, behalf of the employees. So, if you decide to hire an employee to your business, you must incorporate your company registration with in your state.
Types of company registration
Starting a new business in India requires one to select a type of business In India one can choose from various kinds of legal entities to manage business. This contains Partnership Firm, Sole Proprietorship, Limited Liability Partnership(LLP), Public Limited Company, Private Limited Company, One Person Company(OPC), Non Banking Finance Company (NBFC), Section 8 Company. The choice of company registration is dependent of various factors such as owner liability, taxation, investment and funding, compliance burden and exit strategy.
- Private Limited Company
- Limited Liability Partnership(LLP)
- Public Limited Company
- Section 8 Company
- One Person Company(OPC)
- Non Banking Finance Company (NBFC)
- Sole Proprietorship
Registration in Coimbatore
There are many new company can register their name with certain procedures. Most importantly, the new company registration is mandatory in Coimbatore. In Tamilnadu, there are only two Registrar of Companies (ROC) that are located in Chennai and Coimbatore. The private limited company registration are mostly registered in Coimbatore. Most of the company registration are proceeded in the following cities like Salem, Madurai and Chennai.