India is a fast-developing nation aspiring to become an established financial hub. The government in last few years has been motivating people to establish a business of their own or ‘be their own boss’ by launching schemes and providing a variety of benefits. This has been helpful in increasing the rate of growth of the economy towards the path of self-sufficiency in the country.
Selecting the business model or structure is the most important decision to make after the ideas have been put into place. A Company as a structure has always had an upper hand in this regard. Be it a Private Limited Company Formation in India or Public Limited, it has advantages that make people choose it over the other types.
Once individuals decide that the business shall be incorporated as a Company, the next step to understand the procedure of Company Registration in India.
What are the Features of Company Registration Process in India?
The Ministry of Corporate Affairs, Government of India, has regularly been making amendments, issuing notifications, and launching schemes so as to make the process of company registration easier, simpler and more cost effective.
The most recent initiatives of the authority have been proved revolutionary in inspiring more to come forward and realize their dream of starting their own business. Some of the initiatives are:
Introduction of RUN service for reservation of the proposed name.
Introduction of SPICe with e-MoA and e-AoA has fast-tracked the procedure of company registration.
Fee for company registration has been scrapped off.
Hence, it can be seen that registration of company for business is easier than before and filled with more benefits than ever.
