Tuesday, February 24, 2009

Things to do in the first 30 days after incorporation

There are rules and more rules for the things you need to do in the first 30 days of incorporating your private limited company. Here are a few things:

  1. Open a bank account. The minimum share capital of Rs 1 lakh (1,00,000) has to be deposited in the company account within 30 days.
  2. Appoint an auditor formally using a company letterhead. The auditor in turns needs to accept the appointment and inform the government.
  3. A registered office must be up and running in 30 days. A signboard must be put up in a prominent location.
  4. The initial shares have to be assigned according to the agreed upon investment and recorded in the register.

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