Although Goa is the smallest Indian state, it is exquisitely snuggled into the country’s western coast, giving it a larger-than-life energy and making it appear even bigger. With some of the most breathtaking beaches interwoven together, it is the true beach paradise of India, welcoming visitors from all over the world. Both domestic and foreign businesses are thought to view the state as a prime location for investment. All of India’s main metropolises and other vital trading hubs are easily accessible from the state. In this article, we will discuss how to get Company Registration in Goa.

What is Company Registration?

Before we move on to the Company Registration, let’s first understand what a corporation is. Describe a company. An organisation with members or shareholders and at least two directors is referred to as a company. It has been incorporated as a valid business entity in compliance with the requirements for online company registration set forth in the Company’s Act of 2013. In a nutshell, company registration is the process of obtaining an Indian company registration number, which provides the business with a legal framework on which to function.

Eligibility for Company Registration in Goa

The following are the eligibility for Company Registration:

1. Requires at least two directors and stockholders, both of whom may be the same individual

2. At least one director must reside in India, and all directors must be individuals, not businesses.

3. A private company is limited to 200 stockholders, whereas a public company may have an infinite number of owners.

4. Each director also needs to get a Digital Signature Certificate and Director Identification Number.

5. The company needs to have a registered office address that also serves as the official communication address for the business.

Need of Company Registration in Goa

The following are the need for Company Registration in Goa:

·         Enables business owners to safeguard their private assets by restricting their liability

·         Lesser your tax obligation and grant your business a distinct legal personality.

·         Enhance the company’s standing, trustworthiness, and dependability

·         Makes marketing and promotion easier by safeguarding your business’s reputation and brand.

·         Assists in attracting investors and obtaining the funding required to begin operations.

·         Perpetual succession laws ensure your company’s survival regardless of the skills of the initial members.

·         Due to the ease of ownership and management changes, businesses are comparatively adaptable.

·         When you enter a corporate environment, it’s easy to stand out from the throng;

·         Increases capital contribution and stability;

·         Increases the likelihood of growth and expansion;

Essential documents for Company Registration in Goa

The following are the essential documents for Company Registration in Goa:

·         Articles of Association

·         Memorandum of Association

·         Declaration by the Subscribers

·         Declaration by the Directors

·         Conformationof Office Address

·         2 months of Utility Bills

·         Copy of Proof of incorporation of a foreign body corporate [If applicable]

·         Recommendation declared by the “Promotional Company” [If applicable]

·         Copy of a Passed Resolution by the International Company [If applicable]

·         Proof of interest of the directors from other Legal/Political body [If applicable]

·         The Nominee’s assent in the prescribed Format

·         Residential address of& Identity proof of the nominees and the subscribers

·         Identity proof and residential address of Applicants

·         The Resolution/Declaration of the Unregistered Company/ies

·         Any other document [If required]

Procedure

The following is the procedure for Company Registration in Goa:

Selecting the name of the Company

The team must analyse the company’s naming conventions after deciding on the structure they want to utilise. They will then select the name of their company as the next step. According to business owners, there might be up to six options on the company name registration form. The Registrar of Companies will assess the submitted names for availability and choose the best match.

Acquire DSC and DIN

The directors shall apply for and get a Director Identification Number and a Digital Signature Certificate. Both of these documents will also help in confirming their legitimacy and approving any online filings that the company makes. Due to the fact that the company incorporation process is entirely online, directors will require these to approve paperwork and licenses. All directors must apply for and be granted a DSC for increased security.

MOA and AOA

The business owners must then schedule another appointment with the lawyer to draught the required legal documents. It will be necessary to draught a Memorandum of Association and Articles of Association in the required style. The subscriber must additionally digitally sign these documents for authorisation and validity.

Incorporation Application

Once all the required paperwork is in order, the team can submit for incorporation by uploading it all and paying the filing fees via the SPICe site. The RoC will next review all the data and accompanying materials, and if satisfied, will award the company with a Certificate of Incorporation. A Corporate Identity Number (CIN), which will help with the filing of returns and other papers, will also be granted to the company.

Conclusion

The aforementioned examples demonstrate how crucial company registration is to the entire growth of a corporation^[1]. If you want to register your company or LLP in Goa, you must fill out the Company Registration form and submit it to the Ministry of Corporate Affairs. The entire registration process is now completed electronically, making it quick and simple. You can lose out on possibilities, limit your company’s potential growth, and jeopardize its long-term viability if your business registration is inadequate. Obtain professional guidance for Company Registration in Goa. For further details, you can also visit Bizadvisor.io.If you need any legal guidance from professionals on any element of Company Registration in Goa, our Bizadvisors.io group will be available to you.

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