Business Registration Services in Chennai

There is no minimum paid-up capital requirement for a Private Limited Company under the Companies Act 2013. You can incorporate with any authorised capital. ROC stamp duty is charged on the authorised capital. Most startups begin with ₹1 lakh authorised capital and increase it as the business grows.

Pvt Ltd: 2-200 shareholders, limited liability, higher ROC compliances, best for businesses seeking investment. LLP: flexible profit-sharing, limited liability, fewer compliances, ideal for professional partnerships. OPC: single owner, limited liability, only one member allowed, converts to Pvt Ltd when turnover exceeds ₹2 crore.

Udyam registration is not mandatory but highly beneficial. It provides access to CGTMSE collateral-free loans up to ₹2 crore, priority sector lending at lower interest rates, protection under the MSMED Act 2006 for delayed payments (buyers must pay within 45 days), and government tender exemptions. Registration is Aadhaar-based and free.

Directors need: PAN, Aadhaar, passport-size photo, and a bank statement or utility bill for address proof. For the registered office: rent agreement with NOC from the owner, plus a utility bill in the owner's name. All directors need a Class 3 DSC obtained via video KYC. All documents must be self-attested copies.

Section 43B(h), effective from FY 2023-24, disallows income tax deduction for buyers who fail to pay MSME suppliers within 45 days (15 days if no written agreement). This means the unpaid amount is added back to the buyer's taxable income for that year and can only be deducted when actually paid. MSME Udyam registration activates this protection.

LEI (Legal Entity Identifier) is a 20-character code from the LGD portal used to identify legal entities in financial transactions. RBI has made it mandatory for all borrowers with aggregate fund/non-fund based credit limits above ₹50 crore for capital market transactions. It is also required for inter-bank and OTC derivative transactions.

Basic FSSAI registration (for turnover below ₹12 lakh) is typically approved within 7-30 working days. State licence (₹12 lakh to ₹20 crore) takes 30-60 days. Central licence (above ₹20 crore or multi-state operations) takes 60-90 days. FoSCoS portal processing and officer inspection timelines vary by state.

IEC (Import Export Code) is a 10-digit code issued by DGFT that is valid for the lifetime of the business — no renewal is required. However, the IEC profile must be updated annually on the DGFT portal by 30 June, and modifications must be made within 90 days of any changes in address, bank account, or directors.