Today we at myonlineca talking about the what you have to do after Company Registration in India. In our previous articles, we have told you about Type of company registration in India like Private Limited Company, Public Limited Company, Limited Liability Partnership, Partnership and One Person company etc and Have told you about the process of registering these companies and I am sure after reading our articles, you must have found them to be of your interest and Might have given you information that you were seeking.
In this article we will primarily talk about the steps that you have to take after Company registration, that will ensure survival and smooth running of the Business in the long run.
10 Things to do after Company Registration in India
The steps are as follows:
Execute Your Organizational Documents
After you have done your company registration, now you must form Mission, objective and vision statement, Policy statement and standard operating procedure statement, all these documents will provide a framework for employees and management in managing, solving any problem and running a company smoothly.
Open a Current bank account
You need to open a current bank account in any private or nationalized bank in India after you have registered your company to commence business activities.
Registered Office and CIN
After getting your company registration, you need to assign a registered office of the company to receive the official document and you need to CIN which needs to display on a company board outside the registered office. Name of the company, Registered office address of the company, Corporate Identity Number or Telephone number, email ID, Website address and fax number etc are to display on the company board and also These details are to be printed in business letters, bill-heads, and other official documents.
Appointment of Accountant and Auditors
The Company needs to maintain books of accounts so that they can have a record of all financial transactions that took place in the financial years and financial statements are to be submitted by the company during filing of taxes under the Annual Compliance of Private Limited Company . The company needs to hire an accountant that can be part time or full time and also needs to appoint auditor that will check financial statements and will certify it to be accurate.
Creation of website and Marketing Planning
You need to make a website by getting a web host and securing a domain name and also determine how you will promote and sell your products and services to the ultimate buyers and consumer In the market.
If you want to take advantage of tax benefits, concession in loans and special schemes by banks etc to the startups given by the Government of India. Then you have the option of going for startup recognition that can be done after company registration.
It is important that after you get your company registered, you should get GST Registration that is mandatory in India so that you can avoid tax evasion charges and legal proceeding that can be levied on you. You should consider getting Trademark registration to protect your innovative Brand and Company name or some process or technology that you might have developed after expert research.
Disclosure of Director’s Interest and Declaration Regarding Disqualification
It is required that the Board of Directors of the company should hold a board meeting within 30 days from the date of company Registration, the Director is required to disclose their concern or interest, firms or other associations of individuals and declare that directors are not disqualified. The disclosures must include directorship and shareholding. This is an ongoing formality as directors must disclose their other interests from time to time as required by the Companies Act.
Issue of Share Certificates to Subscribers
As The Companies Act 2013, Within a period of two months from the date of incorporation of a company, every company must convey the share certificates to the subscribers of the memorandum within 60 days from the date of incorporation.
Acquire any other industrial Licenses
If you are dealing with Food, chemicals, electronics, software, alcoholic beverages or any other industrial products and services then you must secure a license from their respective licensing departments.
The above-listed requirement is to be fulfilled by the Business owner for the smooth running of the business and to avoid any legal inconvenience that may arise due to the absence of any above-listed requirements.