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Private Limited Company Registration In Chennai

private limited company registration in chennai is a great way to start your business and become financially stable as well. This city ranks as the second most populous city in the country and also happens to be one of the biggest financial centers in the country. Chennai has the second highest number of business starters after Mumbai, and hence the potential in the industry is very bright. But all this depends on how you will find the right place to start your business with.

Private limited company registration in Chennai is very easy. You have a choice between keeping your company name private or opting for an enterprise registration. If your company name is kept private then you are only allowed to list the contact details and name of your company in the business register. This kind of registration does not allow you to trade it off with other companies. The main benefit of doing private limited company registration in Chennai is that it allows the company to be incorporated, conduct its trade, manage its funds and run its business without any interference from the government departments.
Another benefit that comes with such registration is that you get to have two directors. Two directors are believed to have more power when it comes to running the business. Therefore, if you wish to control your finances better and increase your profitability, having two directors at the helm is considered to be the best thing to do. Two directors are also supposed to have the consent of at least one shareholder. This means that they must be interested enough in what the company is doing so that they can have enough support to push the business ahead.
You should have residential proof for the directors of your company. Residential proof proves that you are a resident of Chennai. Before the incorporation secretary can process the papers, he needs to verify the information provided by you. You can submit a copy of residential proof with your application form for private limited company incorporation in Chennai. The proof should include details like the address, contact numbers and contact details of all the directors of the company.
The next step that is involved in the process of private limited company registration in Chennai is to submit the annual income statement. This is an item that will have to show all the profits made by the firm over a given period. This item is also required to state the amount of money paid as dividends by the shareholders. The item will also state the total number of shareholders as well as the number of shares that have been issued. The annual income statement will help the incorporation secretary check on the information that has been provided.
The last step involved in the process is to submit a certificate of incorporation. This is an item that will be used by the corporate authorities of any country when registering a new company. It is essential that the company registration in Chennai is accompanied by this document because this proves that the promoters of the venture are legally allowed to operate the business. After receiving the approval to operate the business, the promoters will be able to issue shares to the investors of the firm. Once the entire operation is managed properly, then the private limited company will become active and will continue to prosper as it was planned out in the beginning.