Finance & Accounting
Company Formation
What is company formation
Company formation is the process of incorporating (registering) a business as a limited company. When this happens, the business becomes a distinct legal entity; an individual ‘person’ in the eyes of the law. Essentially, this means that the company is completely separate from its owners in terms of finances, liabilities, contractual agreements, and ownership of property and assets.
This means that, if the company becomes insolvent, the owners (shareholders or guarantors) are not held personally liable for any of its debts or liability claims beyond the sums they have invested in shares or committed to pay in guarantees (except in rare cases, such as fraud). This financial protection is known as ‘limited liability’.
Company formation process
- Choose a company name
- Select a company formation package
- Add company address services
- Complete the online application form
- Submit your online application to Companies House
Documents Required for Company Registration
PAN Card: PAN Card copy of the proposed Directors of the Company will be required for Company Registration. PAN or Permanent Account Number is a unique identification number issued by the Department of Income Tax in India. It is mandatory for Directors who are Indian Nationals to submit PAN during the incorporation process.Address Proof: In addition to the PAN Card copy, the proposed Director must submit an address proof. The address proof submitted must have the name of the Director as mentioned in the PAN Card and the most current address of the Director. Further, the document must also not be older than 2 months. The following documents are acceptable address proof for Indian Nationals.
- Passport
- Election Card or Voter Identity Card
- Ration Card
- Driving License
- Electricity Bill
- Telephone Bill
- Aadhaar Card
- Bank Statement
- Electricity Bill
- Telephone Bill
- Mobile Bill