Small businesses and startups are being very much encouraged in Kerala as per the policies of the State and Central governments. Due to the favorable economic policies of the Chief Minister for starting new companies, new entrepreneurs coming up in the state now. Kerala is booming in terms of entrepreneurship. Every new business or venture, no matter in what sector it operates, must be registered as a company under the Companies Act of India.
As you have decided to start your new business in Kerala, the first thing you would be thinking is what type of entity you should form. There are different type of business entities.
1) Sole Proprietorship
3) One Person Company (OPC)
4) Limited Liability Partnership (LLP)
5) Private Limited
6) Public Limited
If you are starting a small firm, no need to go for Private Limited company in the early stage of your business. Forming a Private Limited company is expensive. There is Government fees of around 13000 and Chartered Accountant will charge you anywhere from 5000 to 10000. So total you need to spend around 20-15K just for registration. You need to keep all accounts up to date with annual auditing to be done by a Chartered Accountant. Also tax return has to be filed every year. This will cost you around 25K annual in service charges.
If you are planning to do business with clients from abroad, they may ask for registration certificate. In that case, you have to register your company in Kerala according to the Companies Act of India. If you are alone, just go for One Person Company (OPC). To form a Private Limited Company or Limited Liability Partnership (LLP), there are minimum 2 partners required.
Not long ago, it was a really time consuming process to register your company in Kerala. However, now things have changed for the better as the government is fully focusing on bringing in new investments in the state. Due to this reason company registration in Kerala has now become relatively easier.
Steps in Private Company Registration:
1. Apply for DIN for both Directors.
2. Obtain DSC Digital Signature for both Directors.
3. Company Name Approval
4. Finalize Memorandum of Association (MOA) and Articles of Association (AOA)
5. File Incorporation with Roc.
Some of the documents and other requirements for company registration in Kerala are as follows:
1. The company must have a minimum of 2 directors or shareholders.
2. Color photographs of all the directors.
3. Photo identity and address proof of all the directors.
4. Pan card number of directors.
5. Director Identification Number (DIN) for all directors.
6. Registered Office Address Proof. (Virtual Office Address can be used.)
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Presently it takes you about 20 to 25 days to get your company registered in Kerala and very soon the government is planning to bring down this time frame to 24 hours.
Registrar of Companies (ROC) Cochin address:
Office of The Registrar of Companies,
1st Floor, Company Law Bhavan,
B.M.C. Road, Thrikkakara P. O.
Kakkanad, Kochi, Kerala State
You must follow the processes below when you are registering your company in Kerala with the help of a business consultant.
• You must provide them the scanned copies of all the required documents
• You must provide around 3 to 5 proposed names of the company.
• Prepare the object of the company
• All the directors must sign the DIN Annexure, Digital Signature and Memorandum and Articles of the Company.
• You must also sign the PAN form and Bank Account form for the company.
With the help of a professional business consultant, you can easily get your company registered in Cochin. Make sure that you search the Internet and find out a legitimate consultant for the purpose.
Those who are looking for affordable office spaces in Cochin, will find the virtual office solutions of Spacelance extremely helpful.
There are several business consultants in Cochin now offering professional help for registering your company at an affordable rate.
When you register a business, it is important that you should have a professional office address as well. However, renting a commercial space is expensive. Virtual offices are best cost-effective way to show an office address for registration. Spacelance is top provider of Virtual Offices in Kochi , Kerala.