Setting up LLC in India is quite complicated, and therefore, one might find it somewhat difficult to get the job done. But, in case you want to become an entrepreneur, it will not be a sensible idea to ignore this particular step.
Here, we would like to mention that LLCs cannot be considered to be an establishment themselves. It is actually a business structure that helps to safeguard the owners from debts and financial losses. On the other hand, it is a company with a legal framework where the owners have limited liability in certain jurisdictions.
Guidelines for Setting up LLC in India
Proposed name for your company
It is not sensible to provide your company with a random name since it will do more harm than good. Providing a meaningful name for your company will not be an easy task after all. In fact, we need to provide plenty of labor to get the job done successfully. In the following paragraphs, we have mentioned the required documents that will be imperative for an applicant to choose a sensible name:
- Details of the directors (minimum 2)
- Details of the promoters (minimum 2)
- The objective of the company
- Proposed names in the order of preference (maximum 6)
Directors and subscribers
In case you want to set up a public limited company, you will require at least 3 directors and 7 subscribers. On the other end, if you want to set up a private Limited company, you will require at least 2 subscribers as well as a couple of directors.
Director Identification Numbers
It’ll be imperative for all proposed directors to get hold of Director Identification Numbers.
Digital Signature Certificate
In case you want to validate the documents digitally, you will require a Digital Signature Certificate. Following this, these documents will be sent to the Company Registrar as well as other authorities.
Memorandum & Article of Association
This particular legal document consists of information about the company such as its working process, terms and conditions, and so forth.
It is imperative for any company to have a register office after it has been set up. The office must be physically available in the event of any notice coming up.
Once all the legal documents have been approved, you will receive the green signal to start your business. You will also require a Company Start-up Certificate from ROC in case it is a public company.
Ahlawat & Associates happens to be a reputed law company whose primary intention will be to support Indian as well as foreign business groups to start their business in India. This company has comprehensive knowledge of the Indian political and industrial scenario and they work with an efficient team having lots of experience regarding legal frameworks. One can consider Ahlawat & Associates to be one of the top-notch company setup consultants India, which will provide you with lots of essential guidelines to start a business in India successfully.