Company Registration in Chennai

Company registration is a process of transferring new or existing business into a registered company. This registration is necessary to avail certain benefits related to loans, subsidy, tax, etc. Chennai, being one of the leading economic centres of the nation, it becomes vital to change the business existence into a registered company that has a legal identity.

Therefore, to start a company and avail benefits, get the business registered as a company in Chennai. There are several types of company registrations to choose, such as Sole Proprietorship, Private Limited Company, Public Limited Company, Partnership Firm, One Person Company, Limited Liability Partnership (LLP), Non-banking Financial Company, Section 8 Company, etc.

In this section we shall cover company registration process in Chennai:

How to get a Company registered in Chennai?

There are five simple steps to get a company registered in Chennai.

Step 1: Registration of company directors under Ministry of Corporate Affairs (MCA) is mandatory to get Director Identification Number (DIN).

Step 2: Apply for RUN (Reserve Unique Name) which is an application form for the reserving a new name with the Registrar of Company (ROC). Depending upon the availability of suggested name, MCA shall provide the approved name.

Step 3: Next is to fill in and submitting Form SPICE INC-32 for company registration and Obtain Digital Signature Certificate (DSC).

Step 4: Next step is the drafting of company’s MOA (Memorandum of Association) & AOA (Articles of Association). This can be applied by hiring a lawyer and submitting the application form.

Step 5: After the completion of suggested process of company registration with ROC, the Ministry of Corporate Affairs issues Certificate of Incorporation.

Documents Required

• Duly filled application form with passport sized photographs of the applicant/promoter
• Applicant’s PAN Card
• Business PAN card
• Identity Proof: Passport, Aadhar card, Voter ID, Driving License
• Address Proof: Passport, Voter ID card, Utility Bills (Electricity, Mobile or Telephone Bills)
• Bank details along with Profit and Loss statement
• Business address proof
• Business Incorporation Certificate
• Rental Agreement & NOC from the property owner
• Any other document required by the authority

Company Registration in Chennai: Explained

a) Company registration in Chennai is regulated by the Companies Act, 2013, and administered by the Ministry of Corporate Affairs (MCA). It is processed at the Central Registration Centre (CRC).

b) Company Registration process in Chennai is completely online. Post registration formalities, the Registrar of Companies (ROC) issues a Digitally Signed Certificate (DSC) of Company’s Incorporation (COI).

c) Electronic or digital certificates issued by the MCA can be verified by all stakeholders on its official website or by clicking here.

Eligibility Criteria

There are some defined prerequisites for company registration in Chennai, depending upon the type of company as mentioned below:

• Minimum age of the applicant, promoter should be 18 years
• Indian citizen or Indian resident
• Minimum number of shareholders and directors of a company
• Valid Digital Signature Certificate (DSC) as filings are made via MCA online application system
• Company name that shall fulfil with the Company Name Availability Guidelines under Companies Act, 2013
• Share capital or the amount of be invested by the owner(s)
• Registered Office Address in Chennai to be used for all communication
• Within 180 days of Company’s Incorporation, owners should bring subscribed capital to the company for the commencement of the business

Benefits of Company Registration in Chennai

• Loans at lower interest rates
• Helps in getting Govt. tenders
• More credibility to the business with legal stature
• Limited risk of business liability
• Helps in funds raising from investors
• Ease of getting customers, employees, vendors, suppliers, etc.
• Protection of personal assets against business risk
• Secures company’s assets
• Growth and expansion opportunities

For company registration in Chennai, an actual office is also required to be registered. It is not mandatory that the office location should be a commercial area. It can be your place of residence.

Besides Registrars of Companies (ROC) appointed under Section 609 of the Companies Act, Company registration in Chennai can also be applied by various private companies or specialised legal entities dealing with company registrations.

The processing fees or service charges shall be a bit on the higher side, as compared to Government web portals but removes a lot of burden and make it a hassle-free task for the business owner or entrepreneur.