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Company Registration in Uttar Pradesh – An Overview

Company Registration in Uttar Pradesh
| Updated: Jun 19, 2021 | Category: Public Limited Company

Uttar Pradesh has traditional fertile land, and its economy is mainly driven by the agriculture sector. The significant industries in the state embrace IT (Information Technology), tourism, mineral-based industries, biotechnology, food processing, handlooms, handicrafts, sports products industries, and leather-based industries. The state has a high livestock population in the state builds producers of leather goods, along with an oil refinery in Mathura, which is operated by the Indian Oil Corp.

Uttar Pradesh has the maximum number of cities known under the Smart Cities Mission of the Indian Government. Hence, we believe that Uttar Pradesh is an excellent place to establish your Company and commence your business in this state. But before that, you need to obtain a Company Registration in Uttar Pradesh; without this, no one can start any business in Uttar Pradesh. Scroll down to check more information regarding the Company Registration in Uttar Pradesh.

Different Types of Business Structures

Following is the list of all different types of business structures:

  1. Private Limited Company: In the eyes of the law, a company is regarded as a separate legal company from its founders. It has stakeholders and directors. Each individual is regarded as a company’s employee.
  2. Public Limited Company: It is a voluntary members association that is registered under company law. It has a different legal existence, and the member’s liabilities are limited to shares they hold.
  3. Limited Liability Partnership (LLP): It is a separate legal company; in an LLP, the partners’ liabilities are limited to their agreed contribution.
  4. One Person Company: It was introduced in 2013; One Person Company is the best way to commence a company if only one owner or promoter exists. It enables a sole-proprietor to carry oh his or her work and still be a part of the corporate structure.

Why is it Necessary to Pick the Right Business Structure?

It is vital to pick your right business structure cautiously because your ITRs will depend on your business structure. During the Company Registration in Uttar Pradesh, remember that each business structure has various levels of compliances that require to be met with. For instance, a single proprietor has to file an Income Tax Return only. But, a company or an entity has to file an ITR and annual returns also with the ROC (Registrar of Companies).

An entity’s books of accounts are to be mandatorily audited yearly. Enduring such legal compliances need spending money on accountants, tax filing experts, and auditors. Hence, it is vital to pick the correct business structure when thinking about Company Registration in Uttar Pradesh. An entrepreneur should have an understandable idea of the kind of legal companies he or she is eager to deal with.

While some business structure is comparatively investor-friendly than others, investors will always choose a familiar and legal business structure. For instance, an investor may falter to give money to a sole proprietor. On the other side, if a good business idea is backed by a recognised legal structure such as LLP, Company, etc., the investor will be comfier investing.

What are the Basic Necessities for Company Registration in Uttar Pradesh?

There are some requirements that you should know before filing an application for Company Registration in Uttar Pradesh:

  • As per the Companies Act 2013, at least two shareholders are required to commence a Private Company in Uttar Pradesh; but, the maximum limit of members if a Private Company is 200. If a Private Limited Company challenges financial risks, the shareholders should have limited liability as they are not issued to sell their personal assets for the cause.
  • There should be a minimum of two directors, and a maximum of fifteen directors can be appointed in a company for the online Company Registration. Further, the designated director should have attained a minimum age of 18 years. Any foreign individual can also become a private company’s director in Uttar Pradesh.
  • The minimum paid-up capital is not vita for the Private Limited Company Registration. But every Private Company should use “Pvt. Ltd” after the name of the Company.
  • The Private Company must have a distinctive name that should not be the same as any other registered entity and Trademark. It is good to avoid any unpleasant name for your proposed Company before registration.

What are the Benefits of Company Registration in Uttar Pradesh?

Registering a Company in Uttar Pradesh offers various benefits, and you can check the same below:

  • Bring out more customers;
  • Offers limited liability to preserve assets of your Company;
  • Boost the potential to expand and grow big;
  • Raise the credibility of your business;
  • Ease in getting bank credits;
  • Greater funds supplement and more attractive stability;
  • Help owners from personal liability and safeguards them from other losses or risks.

Documents Required for Company Registration in Uttar Pradesh

Following are some vital documents required at the time of Company Registration in Uttar Pradesh:

  1. Documents for Company Registration through SPICe+ Form
  2. MOA (Memorandum of Association) and AOA (Articles of Association);
  3. Declaration by the Directors and Subscribers;
  4. Confirmation of Office address;
  5. Submit a copy of the latest two months utility bills;
  6. Submit a copy of incorporation proof of a foreign body corporate (if applicable);
  7. Suggestion declared by the “Promotional Company” (if applicable);
  8. Interest proof of the directors from other political or legal body(if applicable);
  9. Copy of a Passed Resolution by the international Company (if applicable);
  10. The Declaration or Resolution of the unregistered Company;
  11. Assent of Nominee in the prescribed format;
  12. Identity proof & residential proof of the subscribers and nominees;
  13. Any other document (if needed).
  14. Documents Required for Company Registration in Uttar Pradesh through AGILE-PRO
  15. Copy of principal place proof of business operation;
  16. Appointment proof of authorised signatory for GSTIN;
  17. Identity proof of authorised signatory for the opening of a bank account;
  18. Address proof of authorised signatory for the opening of a bank account;
  19. Copy of Resolution passes by Board of Director or Letter of Authorisation;
  20. Proof of resolution passed by the Acceptance Letter and Managing Committee.
  21. Authorised Signatory for EPFO and Specimen Signature.
  22. Requirement for Company Registration in Uttar Pradesh for Declaration in Form INC-9

The declaration of the subscriber and the directors are presented digitally in auto-generated in PDF format. The candidates for Company Registration have to deliver the suggestion and a certification authorised by an expert, like CS, CA and Cost Accountant.

  • Documents Required as Address Proof and as a Residential Proof for Company Registration in Uttar Pradesh
  • Aadhar Card.
  • Driving License.
  • Passport.
  • Electricity Bill.
  • Ration Card.
  • Voter Card.
  • Telephone Bill
  • Bank Statement.
  • Electricity Bill.
  • Mobile Bill.

Procedure for Company Registration in Uttar Pradesh

Registering a Company in Uttar Pradesh is now a simple four-step procedure:

Procedure for Company Registration

Step 1: Digital Signature Certificate (DSC): As you may know, the Company Registration process is completely online, so Digital Signatures are necessary to fill the form on the MCA website. Digital Signature Certificate (DSC) is compulsory for all the designated directors and the subscribers of the Articles and Memorandum of Association.

Step 2: Director Identification Number (DIN): DIN is an identification number for a director, and it has to be obtained by anyone who desires to be a company’s director. The Director Identification Number of the director and the address and name proof are to be provided in the Company Registration form.

Step 3: Registration on the MCA Website: TO apply for the Company Registration, the SPICe+ Form has to be filled and submitted on the MCA website[1]. To fill SPICe+ Form and submit documents, the Company’s director has to register on the MCA website. After the Company Registration, the director can log in and will get access to the MCA website services, which comprise filing e-forms and viewing public documents.

Step 4: Incorporation Certificate: Once the application is filled and submit with the documents, the ROC (Registrar of Companies) will inspect the application. Upon verification of the application, he or she will issue the Registration Certificate of the Company.

Compliances to be followed by the Company

Once the Company or entity is incorporated, there are certain compliances to be followed by the Company yearly. The Company must follow compliances like the Company is required to appoint its first auditor within thirty days of registration in the 1st board meeting. Every Company or entity should conduct at least four board meetings during the calendar year at stipulated intervals. It has maintained and files the P&L Account (Profit & Loss Account), yearly return and balance sheet of every financial year, and an auditor’s report before the due date with the ROCs. Every Company is required to preserve certain Statutory Registers.

Conclusion

A Company Registration in Uttar Pradesh is an online process to be done with due diligence. Once a company registration is done, the Company’s directors enjoy all the advantages of a Private Limited Company.

Read our article:What is the Minimum Age for Company Registration in India?

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A legal writing enthusiast, a wanderer, and a zealous reader. After gaining a lot of knowledge about the diverse legal topics and developing research skills, Karan joined the league of legal content writers to deliver quality-rich blogs.

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