Registering your company means that you are taking a step forward in the business world, and you hope to become better and more prominent. Starting a company is sometimes a difficult thing to do as people are often skeptical because the business world is a competitive one, and anyone who does not know how to stand tall may end up folding up. Several businesses started fine but folded up because they could not keep up with business trends, thereby resulting in dissatisfied customers. Some people had to go out of business because customers kept giving them bad reviews and would not refer anyone to them. Another reason why businesses fold up these days is that companies these days need consistency. If a company cannot be consistent in the things that they do or the services that they provide, then there is a possibility that they will lose their credibility among customers. This is the reason why many companies have gone out of business.
For companies that can pull through difficulty and come out on top, the best next step to take is to register your company. Registering your company means that you want people to know about your business and take you seriously. Also, you want to be able to take legal actions against people who try to defraud you in your company.
There are several compulsory documents involved in getting your company registered, and they include;
This is one of the documents required to get your company registered as the Ministry must know that you are financially stable to start a company of your own. This bank statement will also help the Ministry know how consistent you are with your company.
Particulars of the Company Secretary
Every company must have a secretary that keeps records of everything. This secretary, such as a company formation agent, must also have strong credentials to show to the Ministry for the company to be registered.
Memorandum of Article of Association
This document is to be drafted by a legal practitioner attached to the company. This is one of the most essential documents for registering your company. This document contains the rules and regulations for the administration of the company.
Registered Principal Address
The address of the company is significant because the Ministry has to know where the company is located and embed it in the registration document. This address will help customers understand where to go to when they need something and where to make reports.
Registering a company can take some time, depending on the state where the company is located. This is because different countries have their laws that they expect citizens to go through.
It is better to go through the right process of registering your company. Also, the registration is not free, but it comes at an affordable rate. When the Ministry had accepted the name and location, a legal document that carries these details will be printed out and given to you. People are often advised to keep the registration document in a safe place as it is not replaceable.