Introduction to Doing Bussiness in Chennai
Chennai( formerly Madras) is the capital city of the state of Tamil Nadu. The city lies along the Coromandel coast of the Bay of Bengal. The city has a booming tourism industry and foreign tourists visit the city a lot more compared some other cities. The Quality of Living Survey deemed Chennai as the safest city in the country. Chennai has been fondly given the name of “Detroit of India” since more than 1/3rd of India’s automobile industry is based out of Chennai. The Software Technology Parks of India(STPI) provide great support for Private Limited Company Registration in Chennai.
The city of Chennai ranks as the number 2 city for trading across borders in the ease of doing business rankings. The city also ranks as the 10th best city to open a business. Chennai also has a very high literacy rate which makes it a very viable city to start your business in Chennai.
What is a Private Limited Company?
A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares limits the number of shareholders to 50 and restricts shareholders from publicly trading shares.
The Ministry of Corporate Affairs is also making great progress towards cutting down on the processing time of company registration application. A provision of One-Day Company Incorporation with SPICe has been introduced to make the process of company registration less tedious and hassle-free. You can also look at how much does it cost to start and run a private limited company.
Pre-requisites for Private Limited Company Registration in Chennai
- 2 Directors
- 2 Shareholders
- Registered Office Address (Residential/ Non-Residential)
Process for Private Limited Company Registration in Chennai
- Apply for Digital Signature Certificate (DSC).
- Apply for Director Identification Number (DIN)
- Get the Name Approval with Registrar of Companies (ROC), Chennai. Check out the address for your ROC here.
- Register with the new SPICe INC-32 forms
- Aquire Registration Certificate.
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration and Affidavit by directors and first subscribers
- Proof of Office Address
- Utilities Bills’ Copy not more than 2 months old (Electricity, Gas, Water Bills etc.)
- Copy of approval if the proposed name is containing words/expressions which need authorization by the Central government
- In case of proposed name based upon a registered trademark then it is mandatory to attach trademark registration certificate or trademark application copy
- NOC from sole proprietors partners /associates/ existing company
- Proof of identity and residential address of subscribers.
- Proof of identity and residential address of directors.
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