Why compliance management services are needed for business incorporation?

In case you are on the brink of incorporating a business, compliance management services will be needed in the near future. These services start with business registration which is done to give a legal identity to the business, it is also a need for tax benefits and to gain borrowing capacity. There would be certain changes in the registration process which would depend on the type of business structure. In turn, the selection of business structure would depend on the type of ownership, capital requirements, business operations, and market presence. 

The largest possible business entity permitted is public limited company registration India, which gives provision of unlimited shareholders with the minimum limit of seven also the capital requirement is five lakhs. Private limited company registration in India is adequate for small and large business structures set up with minimum two shareholders. Partnership firms may be registered or unregistered based on a partnership agreement whereas the defining document for companies is memorandum MOA and AOA. 

For registration, the proposed directors should first obtain DIN and DSC, in case registration is through INC-29 it also acts as an application for DIN of up to three directors. It was introduced to reduce the steps involved in company registration serving as a common form for many compliances related to company registration. In addition, it also serves the purpose of reserving a unique name for the company which is within the guidelines. Once the application for registration is filed and the information is validated, certificate of incorporation is issued. This certificate does not end the compliance as obtaining PAN for the company and then opening a bank account is also part of the incorporation.

In addition to these compliances for business commencement, there are numerous other obligations to keep operating and maintain an active status which include holding AGM, maintaining registers, and filing returns. To handle these regulatory obligations, compliance management services of a consultant are needed. These consultants also help to comply with events such as appointment or resignation of director, alterations in the memorandum or objects, shifting of registered office, etc. A consulting firm would often include specialists from different fields to cover wider service areas.

Corporate Capital Ventures is renowned for compliance management services, it offers secretarial services for registration of business. CCV is also stock exchange consultant helping companies list on trading nationwide terminals. Its services extend to compliance with regulations set by SEBI, RBI, and other regulatory bodies.

Conclusion: A business has to manage compliances for incorporation and to establish a legal identity within the regulatory framework.