How Do You Form a Company in Chennai?

There are a variety of legal structures available to Indian entrepreneurs, including the private limited company structure. It's one of the most popular legal structures. In this post, we'll go deep on the Chennai process for company registration in order to explore the following concepts.

Chennai-based Company Registration Service Provider

The automobile industry has grown to one-third of India's in Chennai, making it the country's central industrial and commercial district. Companies are registered in accordance with the Companies Act, 2013 in Chennai, which makes up one-third of India's economy. The Ministry of Corporate Affairs supervises and regulates the procedure for new company registration in Chennai. 

Gone are the days of filling out forms and sending paperwork to government offices to open a business. With the government's new online platform, businesses can now set up in minutes. The majority of the process of establishing a company, as well as all subsequent regulatory filings, is handled via government portals. Once an application is granted by the Registrar of Companies, a Certificate of Incorporation will be issued.

To start a company in Chennai, you must register with the relevant authorities.

In Chennai, certain prerequisites must be fulfilled before registering a company. Moreover, the process and requirements are primarily determined by the type of business structure chosen to be incorporated and the firm's activities. To learn more about the eligibility requirements for starting a company in Chennai, let's examine them in detail.

• A private company must have a minimum of two shareholders, and the first shareholder must draft and execute the company’s Articles and Memorandum of Association.
• At least two individuals must be included in the corporation's board of directors. If two or more corporations register a business, they must designate individual directors. 
• Director Identification Numbers must be legitimate.
• A Digital Signature Certificate is required to allow directors to file and apply for permits.
• Entrepreneurs should come up with a unique business name for their company. The structure may be as follows – Unique Name + Activity Word + Private Limited Company. All proposed names must follow the guidelines set forth under the Companies Act, 2013.
• Chennai doesn't have a minimum paid-up capital requirement for starting a business, although the registration fees will depend on the authorised capital raised by the company. 
• Every firm must maintain a fixed office location as its main operating post and this address must be used in company communications.

In order to commence operations, a company must file a declaration to the Registrar stating that every person who purchased shares has paid for them and that the company is prepared to function. Six months after company formation, the founders must distribute the company's capital. Once recorded, the company may commence operations.

How Do I Form a Corporation in Chennai?

• Before choosing a company name, entrepreneurs must file an application to search for name availability and choose from up to six alternatives.
• Finally, the shareholders must gather all the documents needed to file for registrations and licenses.
• The applicants must also meet with a legal expert to learn about the various licences and registrations they will need to obtain, depending on the nature of their business.
• In addition to these steps, the entrepreneurs must begin to actively seek funding, via banks, financial institutions, creditors, or investors, to nourish their enterprises 
• Once the directors have the DSC, they must use it to obtain the DIN.
• Once all the documentation is completed, the company may file for incorporation with the RoC
• Entrepreneurs will have to obtain a company PAN and TAN card, as well as a GST certificate of registration.

Documents Required to Register a Company in Chennai

Incorporation documents for the MCA are as follows:

1. Form INC-32 – Company Incorporation Application Form, via the Simplified Proforma for Incorporating a Company Electronically, better known as SPICe+
2. Digital Signature Certificate 
3. Director Identification Number

Other Documents Required

• Consent to act as director via Form DIR-2
• Application for DIN
• In case DIN is allotted, a declaration of DIN 
• Application for Digital Signature Certificate
• Declaration by subscribers via Form INC-9
• MOA (Memorandum of Association)
• AOA (Articles of Association)
• Registered office address proof
• No-objection letter from the property’s owner
• ID and address proof of all directors, which include any of the following:

1. Permanent Account Number (PAN) card
2. Aadhaar card 
3. Driving license
4. Passport
5. Bank passbook or account statement