Chennai is one of the 4th largest city in India and one of the fasted growing city for the startups and business. When any entrepreneurs want start the new company in chennai then they are always facing legal hurdles so in this guide we are talking about the topics like company registration in chennai or other entities like private limited company registration or llp registration or opc or firm registration etc.
There are lot of Big startups which are born in chennai like Freshdesk or Zoho & they are one of the fasted growing tech companies in the world. So here are the following checklist which is required by any chennai entrepreneurs to start the business –
- Choose the Right Legal Entity as per your business vision or structure.
- Register Company with the Ministry of Corporate affairs in Chennai (ROC Chennai) or relevant authority.
- Open a business current bank account in nearby chennai branch on company or business name.
Right Business Forms or Legal Entity Concept :-
Legal entity means the type of the business formation. Mainly you have 2 type of the entity –
1) Company Options –
Company are registered with the Ministry of Corporate affairs (central government) and give you the proper incorporation certificate. Even its valid across the world so you can doing the business in any city or state or country anywhere. In India there are 3 type of the companies which is choose by the startups in chennai –
a) Private Limited Company Registration in Chennai –
Private limited companies are one of the most popular legal entity in India. Even big companies are start with this type of the legal structure. The most important advantage in the private limited company i.e is you can raise the funds from angel investors or venture capitalist firm. Apart from this you have limited liability in the business. If we talk about the minimum requirements then you need the 2 partners to start a private limited company in chennai but if you are single founder then you can include your family members on the paper.
b) One Person Company Registration in Chennai : –
OPC is another one legal entity which is similar to the pvt ltd company but you need only the one single founder to start a opc company.
c) LLP Registration in Chennai : –
LLP is called limited liability partnership registration which is required the 2 founders whose can enjoy the limited liability in the business.
Company Registration in Chennai Cost : –
All the companies which is mentioned above have 2 type of the cost. a) govt charges & stamp duty b) professional fee. So following are the total cost regarding the company registration in chennai :-
- Private Limited Company Registration – nearby 15000 INR.
- OPC (One Person Company) – 10000 INR
- LLL (Limited Liability Partnership) – 9000 INR.
*above cost are normal cost in the market. Its may very professional to professional fee or number of the partners.
Company Registration Consultants in Chennai :-
If we talk about the company registration consultants in chennai then you can find them over the google maps which is nearby your place. Mainly in the company registration CA Firms or CS Firms are deal but they have a very high professional fee. We highly recommend to you use the Online portal for the company registration which can register your company online at fingertips in the chennai.
2) Firm Options :-
- Sole Proprietorship Firm Registration in Chennai – Proprietorship firm is also one of the popular business formation for the very small business which want to test their ideas. Its has been registered as per the nature of the business like if have service based business then required the service tax or if have product based business with the shop then required shop act license in chennai with the VAT/CST registration.
- Partnership Firm Registration in Chennai :- it’s a similar to the sole proprietorship firm but required the minimum 2 partners. In the partnership firm you have to just prepared the Deed & new pan card.
Cost of the Firm Registration in Chennai :-
Mostly again cost of the firm registration in chennai always depend on your professional & relevant govt authority. Its cost nearby 4000-5000 rupees in the service tax or shop act license registration in chennai.
Conclusion :- So Hope this ultimate guide helps you to choose the right legal entity & now you have to just open a current bank account on the registration certificate and start the new business in chennai. There is no special registration apart from business registration. On Later stage you can apply for the GST Registration etc but in the starting you need to just incorporate your company.