Key Points to look out for Registering a company in Coworking Space
Every business and entrepreneur wants to broaden their reach to the maximum extent possible. Their motto is maximal results with minimum cost. Fortunately, coworking spaces are emerging as a cost-efficient option for expanding activities. Moreover, with a coworking space, you can start and expand your business in your desired premium locations. Before registering your company, you must have a basic understanding about the legal procedures involved.
In this article we will discuss important aspects of Registering a Company in a Coworking Space.
Factors To Watch Out For
1.Location Of Coworking Space
Select a coworking space in a premium location; moreover, a well-placed business address gives your company an upper hand in brand value.
2.Form Of Organization
Before you start the registration process, finalise the structure of your business. Various forms of business organisations are out there. Once you decide the form as per the nature of the business, select the appropriate package for your office.
3.Name Registration
You should give your company a unique and attractive name. Afterwards, check the availability of the name in the portal of the Ministry of Corporate Affairs. You can enter your proposed name and activity type to check the availability.
4.Digital Signature Certificate
All the directors of the concerned persons, subject to the form of business, need to obtain a Digital Signature Certificate (DSC) before registering a company as a user on the site of the Ministry of Home Affairs. Class 3 DSC is preferable. Class 3 authenticates the validity of documents filed digitally.
5.Register Your Company
With DSC, register your company as a user in the portal of the Ministry of Corporate Affairs. Afterwards, based on the nature of your business, you may be asked to fill out various forms. Complete the process with the payment of fees.
6.Bank Account
A bank account must be opened in the name of the company. You can open a current account while registering your company on the MCA portal using Agile Pro-linked web forms for this process.
7.Declaration Of Commencement Of Business
Once you open the bank account, file the form under INC 20A for the declaration of commencement of business. You must file INC 20A within 180 days for companies with share capital. The penalty for not filing INC 20A is very high.
8.Open Your Office In Coworking Space
After completing all the procedures, you can start your business in the new workspace. Please note that if you provided a different address during registration, file INC 22 to update it. It has to be submitted within 30 days of incorporation.
Summing Up
The Business centre will provide all the required support for registering your company in Coworking Space. You should take care of these basic points when registering your company. Place your business in the premium location
Frequently Asked Questions
The following are the important forms to be filled out while registering a company in a coworking space:
Spice Part B:
The form is used to enter all the details of the company for incorporation. Under Spice Part A, we can individually register the name.However, with the Part B form, you can submit requests for name reservations as well as incorporation of the company.INC 33 and 34:
This form is filled out to submit the Article of Association (AOA) and Memorandum of Association (MOA) electronically in soft copies. Both documents must be digitally signed by the directors, and a chartered accountant or company secretary must digitally attest them.Agile Pro S forms:
Bank account setup is an important requirement of this form. Other services like Goods and Service Tax Identification Number (GSTIN), Employees State Insurance Corporation (ESIC) registration, and Employees Provident Fund Organization (EPFO) registration can also be requested through this form.
Class 3 DSC is mandatory for all registrations and transactions in India. It is needed to ensure digital security and authenticity in online transactions. Class 3 indicates a high level of security. The applicant will undergo vigorous identity verification to obtain a Class 3 DSC. It includes physical verification through video or examining biometric details available in the UIDAI database.
Yes, our professional team is committed to providing all the support needed for the registration of your company in our coworking space.
Yes, you can use our meeting rooms and conference hall in the coworking space.
Our dedicated team offers an affordable package for coworking space in our business center – contact us for more details. We will suggest plans suitable for your business type and requirements.
