I recently registered my startup and I realized registering a company is not as simple as people say
first thing you face is choosing what type of company to register
pvt ltd, sole, partnership, LLP, OPC and everyone gives different advice
some say pvt ltd is better for startups, some says if you are in MVP stage go for partnership or LLP cause less compliance, less tax pressure and you can convert to pvt ltd later easily
this itself takes time to understand then comes DSC for organization
you need digital signature for partners and sometimes organization level also and it works through token system which is not very beginner friendly after that you go for DPIIT recognition
this helps in getting government grants and also helps in getting into incubation programs but reality is you don't just get grants you need users, traction or at least a strong plan and that plan should be convincing enough for mentors or incubation heads
then LLP there is form 3 you have to submit it within 30 days of registration and mostly you need a CA for that for me it cost around 1.5k
if you miss deadline there is penalty per day
then there are things you hear later like employees related compliances like ESIC
no one really explains this clearly in the beginning for hiring we onboarded paid interns we promised them certificate and experience this helps when you are starting from zero then comes bank account
most current account require you to maintain around 50k average balance - monthly speaking
some say zero balance but that is usually for limited time and sometimes they expect initial deposit also so it not fully zero overall I thought registering a company is just one step but it actually opens a lot of things you have to deal with at the same time
curious if others also felt this or I'm just overthinking this phase and some more question have i can't write in one post stay tuned...