Starting Our First Web Portal: Do We Need to Register as a Private Limited Company?

Hi,

We are working on a web portal development and are about to roll it out at the end of May. This is our first time in entrepreneurship. Can somebody tell me if we need to register the company as a private limited (pvt ltd) company? If so, how do we register it? What are the financial and legal issues involved?

Thanks in anticipation.

Sandip

Hi Alin,

Thank you for your message. I'm glad you found the information helpful. Regarding your query about a sole proprietorship, I can provide you with details on what it involves and how to establish one. A sole proprietorship is a business structure where an individual is solely responsible for the company's operations and finances. To set up a sole proprietorship, you typically need to register your business name, obtain any required licenses or permits, and separate your personal and business finances.

If you need more specific guidance on establishing a sole proprietorship, feel free to ask. I'm here to help!

Best regards,
Ravikumar

Please check local laws like the Shops and Establishment Act. You need to obtain a registration certificate under the above act from local municipal authorities in urban areas. However, my advice is to go for a company rather than sole prop. It is a matter of credibility in the market. Business circles and even banks prefer companies for lending loans. You and your wife (or other family members) with a share of up to 1 lakh can become directors of the company.

Best of luck and best wishes.

Yours,
Ravikumar

Shujathmir,

The question was about the registration of a company for a .com website. Actually, the website offers campus recruitment services, which are charged to HRs based on their needs. To streamline the payments, registration needs to be completed, and an account should be opened in the company's name. This requires registering the website under a registered company. Currently, the website name has been registered, and web hosting has been purchased.

If you have any additional information for a business in such a scenario, please share your thoughts.

Sandip
09886515516
sandeeprb2002@yahoo.co.in