Choosing the right business name is just as important as any other business-related decision.
The correct name for your business will help you connect with customers and achieve your ambitions.
Every business in India is required to register as part of the legal requirements. So, how to register a brand name in India or your company name in India?
Company Name Registration in India
A new company or start-up name must be registered in the ministry of corporate affairs (MCA), the official business record repository in India.
You can complete the Company name or Trademark registration process online without having to visit the government office.
In addition to registering, you must obtain a Director Identity Number (DIN) and a Digital Signature Certificate (DSC).
You can also submit an online application for a company name approval. The general procedure is as follows in this case:
- The Ministry of Corporate Affairs must receive an application in the required format upon payment of all costs.
- The Ministry of Corporate Affairs will accept or reject your proposed company name after assessing your application for its availability.
DIR-6 Form: The applicant may submit an electronic version of DIR-6 if any changes need to be made to the information provided on form DIR-3/SPICe concerning Directors.
For instance, if a director changes their address, they must notify the appropriate parties by completing the e-form DIR-6 with the necessary certified documentation.
Digital Signature: A Chartered Accountant, a Business Secretary, a Cost Accountant in full-time practice, or a Company Secretary (member of ICSI)/Director of an existing company in which the applicant is recommended to be a director, must both digitally sign and certify the e-Form DIR-6.
Essential Documents for Company name Registration
List of documents needed for the brand or company name registration process:
- Original copy of the ROC's official letter requesting the availability of the company name.
- DIN of each director of the proposed business.
- DS-Certificate for Digital Signature.
- Form-1 for a company's incorporation.
- Form-18 for the proposed company's location or address.
- Form-32 for details of proposed managers, directors, and secretaries.
Tips for a Faster and Easier Company Name Approval Process
Here are a few tips for and simple and easy company name approval procedure:
1. Pick a distinctive name. Choosing a novel and distinctive word for your company is the fastest way to guarantee that your company name will be approved.
2. Businesses will occasionally apply for trademarks far in advance. The approval process for the company name might go smoothly if your trademark is protected.
3. Preferences are the key! In the preferences, one must include variations of their name. Additionally, you might think about including a few descriptive words in the name if there is an existing name for a particular type of service that differs from the sort of services provided by your organization.
4. One option to determine the likelihood of your acceptance is to search the MCA website to check how many businesses with the same name and comparable services currently exist.
5. Before deciding your preferences, you can think about conducting a trademark search. While you could hire an IP legal company to conduct a thorough and accurate search, you may do the same yourself, at least initially, by going to the MCA website. A No Objection Certificate from the trademark owner is required if the name for which you seek clearance is already a registered trademark of another organization.
6. The procedure for approving a company name has been fully automated and digitalized. It takes less than a week to complete a company name approval. Since the digital system automatically rejects incorrect names, the name must be original and brand-new.
Remember that a newly approved company name is only good for 20 days.
The Companies Act (2013)
The Companies Act, 2013 was approved by the President on August 29, 2013, and published in the Indian Gazette on August 30, 2013.
New ideas supporting improved disclosure, accountability, board governance, business facilitation, and other topics were introduced by the Companies Act of 2013.
These include associate companies, one-person businesses, small businesses, dormant businesses, independent directors, special courts, registered valuers, rotating auditors, vigil mechanisms, corporate social responsibility, and E-voting, among others.
The Companies Act of 2013 has already undergone four revisions:
- The Companies (Amendment) Act, 2015,
- The Insolvency and Bankruptcy Code, 2016,
- The Companies (Amendment) Act, 2017,
- The Companies (Amendment) Act, 2019 and
- The Companies (Amendment) Act, 2020 amended the Companies Act, 2013.
The Ministry has released several circulars, notices, orders, and modification regulations to aid in the better and more efficient implementation of the Act.
How Especia Aids in Simplifying the Company Registration and Brand Name Registration Process
You may easily start a business with Especia in just 10 days (subject to departmental approvals). Our package for registering a corporation includes:
- Approval of your company's name.
- Obtaining DIN for two directors.
- Filing the SPICe+ form.
- Payment of Stamp Duty for authorised capital up to Rs.1 lakh except for the states of Punjab, Madhya Pradesh, and Kerala.
- Issuance of Incorporation Certificate along with PAN and TAN.
- Opening of current account for your company.
Visit Especia to register your company in a few simple steps.
Frequently Asked Questions
Q1. What is a Private Limited Company?
A private limited company is limited to 200 members. The private limited business can begin with just two members. A private business is a separate legal entity with perpetual succession and limited liability up to the amount of money invested. A shareholder is not personally liable for the debt, and its assets will not be attached to pay it.
Q2. Can a small business get registration under a private limited company?
Yes, a small firm can form its corporation in India as a private limited company. It gives them credibility and an image of their company in the eyes of financial institutions, suppliers, and potential clients. It enables the company to obtain loans with minimum compliance from banks or potential clients when entering transactions.
Q3. What eligibility criteria for shareholders or directors to be appointed for Private company registration?
The shareholder or director should be –
- Of sound mind.
- Over the age of 18.
- A citizen or resident of India.
Q.4)How can foreign companies establish a place of business in India?
Any foreign company can establish its place of business in India by filing E-Form FC-1 (Information to be filed by a foreign company).