Startup Company Incorporation
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Let us start with a simple question. 'What does it mean to be an entrepreneur?' Common answers will be something along the lines of: “Ah, to be one’s own masters. To live and play by the rules we make. It means experiencing freedom that is unmatched.”
But the one thing nearly every entrepreneur tends to forget or unconsciously side-lines is the importance of compliance with the law.
Most founders are very fluent with technology, digital space, marketing, coding, etc., but when it comes to Legalese, founders tend to fumble. But worry not!
We, at The Filings, pride ourselves at speaking Legalese even better than out native tongues. We are sure we don’t have to remind you about the complex, tangled web of legal jargon and punitive actions that might come your company’s way if you start off on the wrong foot.
There are a lot of things to sort out before you actually start your company. Unfortunately, it’s not as easy as ‘Do re mi’. It takes a little bit more work to get your company off the ground. Off the top of our heads, it’s important to select a company name that doesn’t infringe on an existing name, a bank account, documents for the directors, legal agreements, a plethora of forms to be filed with the Registrar of Companies, obtaining PAN card from the Income Tax Department, yada yada yada.
We have our very own in-house chartered accountants (for tax solutions and other financial matters); a company secretary (to make sure you are perfectly compliant healthy and for any structuring options), a lawyer (to help you draft those agreements and any other legal issues which you may face) and many more experts whose aim is to ensure a smooth take-off of your company.
What can go wrong?
For starters, if you don’t register your company with the Registrar of Companies, you will not be able to obtain a PAN card in the name of your company. Which means you will be unable to open a bank account in your company’s name.
Assume your company does really well and you exceed the threshold limits for GST & Income tax but you’re not registered, so your company will definitely face strict legal action with the statutory authorities. It also means you can kiss goodbye to any ideas you had about investors being interested in your company.
That’s a very scary situation to be in isn’t it?
But you, you lucky person, don’t have to be afraid! Launch your Startup with The Filings’ Startup Kickstarter Package right now!
- Advisory on structuring options
- Company incorporation including DIN and DSC for Directors
- Tax registrations such as PAN, TAN and GST
- Drafting of legal agreements (4 nos)
- GST compliance checklist
- Assistance with appointment of First Auditor
- Post incorporation compliances
- First board of directors meeting
- Issue of share certificates
- Opening of bank account
- Drafting of resolutions for bank account opening and other registrations
Steps involved in incorporation of a company:
Only two people are needed to form a private company. The following steps are involved in the incorporation of a company.
- Ascertaining Availability of Name
- Preparation of Memorandum of Association and Articles of Association
- Filing of forms and related douments with Registrar of Companies
- Payment of Registration Fees
- Certificate of Incorporation along with PAN and TAN.
The important advantages of company form of ownership are as follows:
- Limited Liability: The liability of shareholders, unless and otherwise stated, is limited to the face value of shares held by them or guarantee given by them.
- Perpetual Existence: Deaths, insanity, insolvency of shareholders or directors do not affect the company’s existence. A company has a separate legal entity with perpetual succession.
- Professional Management: In company business, the management is in the hands of the directors who are elected by the shareholders and are well experienced persons. In order to manage the day-to-day activities, salaried professional managers are appointed. Thus, the company business offers professional management.
- Expansion Potential: As there is no limit to the maximum number of shareholders in a public limited company, expansion of business is easy by issuing new shares and debentures. Companies normally use their reserves for expansion purposes.
- Transferability of Shares: If the shareholders of a company are displeased with the progress of the business, they can sell their shares any time. During all this change of ownership, the business continues to operate.
- Diffusion of Risk: As the membership is very large, the whole business risk is divided among the several members of the company. This is an advantage particularly for small investors.
Now, that we have a rough idea on the basic requirements, you might be wondering, why you need TheFilings over any other CA Firm?
Here’s why you should pick us to be your compliance partner:
- Overcoming your biggest fear: For any startup founder, one of their biggest fear is compliance. Or rather, the lack of understanding of the complexities of compliance. We help the founders overcome this by taking care of the annual compliance of the startup end-to-end while the founders can focus on operations and core activities.
- Experience of handling 100+ startups: We know how startups operate. We speak the language of startups. We know the mindset of a founder. We’ve been there and done that.
- Young team: We are a young team of professionals comprising of Chartered accountants, Company Secretaries, Management graduates, etc. Our team has a great collective experience of working with a wide variety of start-ups.
- Quick turnaround time: We know how stressful it can get when nobody responds to your request. Don’t worry, one of our strong suits is our quick turnaround time. “We will get back to you at the earliest” is no more just a cliché!
- Completely digital: We completely operate on cloud while maintaining security and privacy of your data.
- Anytime due diligence ready: We ensure the startup’s books and compliance is up to date and is always diligence ready. You never know when destiny comes knocking on your door!
- Proactive approach: Our approach is totally proactive and we keep the startup founder always informed about the status of their books and compliance.
- Cost: The cost at which you can do the annual compliance for a startup in The Filings is much more subsidized compared to the market rates. Since we have a dedicated startup cell, we are able to provide the services at a subsidized cost.
- Under One roof: The ease of getting all your compliances done under one roof is something special we offer. Not to brag, but we truly are your one stop solution.
- Best practices: The Filngs has been part of implementing the best practices across funded startups infused by their institutional investors. Our aim is to bring those practices into early stage startups also.
We cannot emphasise enough on the importance of compliance. And do keep in mind that compliance is far less expensive than non- compliance! So choose to partner up with TheFilings right now!
- How It Works
- Docs Required
Analyse your requirements
The Filings expert is assigned with 24x7 support
Collection of documents
Fill forms online
Obtain registrations & certificate of incorporation
The documents required for each event shall be communicated at the right point in time based on the requirements.
- How can The Filings help you out?
It is not intentional to scare the founders with complex compliance jargons. It is the rule of the land and India is a country of various rules and regulations. The Filings has sufficient amount of expertise in handling issues related to compliance of both state and central laws. Engaging us would enable you to focus on your business and leave the compliance to us. You do what you’re good at and we can do what we’re good at! It’s a win-win situation. Starting a company has never been easier!
- How will the security and privacy of your data ensured?
The Filings will never share your data with any third party. Our sound technology practices ensure a highly secure environment for all your data.
- How do you pay for your services?
Clicking on the Buy now button would take you to a secure payment page where you can pay through Internet banking/debit/credit cards. The payment for our services can be split into quarterly, half yearly and yearly instalments based on your convenience.
- How can you check the status of your work done?
Once the payment is done, your work will be assigned to our dedicated The Filings professional. Reference number shall be assigned to you for your tracking purpose. Your work can be tracked online through our help desk platform.
- Can I talk to you before buying?
Yes, you can write to us with your contact number and mail ID. We will get back to you at the earliest.
- Can this package be modified to include any requirements?
Yes, you can write to us with your requirements. We will get back to you at the earliest.
- How can The Filings help you out?
*Inclusive of taxes, *Inclusive of government fees, stamp duty and notary charges, *Subject to increase based on authorised capitall