Company registration for Indian freelancers
So if you are a team of freelancers working for quite some time now, then you might be interested in registering your business as a company. There can be many reasons to register your freelancing business as a company.
1. You want to engage into business with other companies/corporate companies who would only deal with a company and not an individual.
2. You now want to expand and hire staff in a formal/legal way.
3. You would like to enter into a partnership with other similar freelancers etc.
To register a company you need to get a "Trade License" from the local municipal corporation. To get a trade license an application form along with some documents like NOC etc have to be submitted. There are charges as well. Once issued the trade license is valid for an year and then has to be renewed every year and there are renewal charges as well. Obtaining a trade license may take time. For more details about the norms in your city go to the local municipal corporation.
A trade license acts as an address proof of the company. It mentions the proprietor/director names, type of company(proprietor or pvt ltd), address and the nature of business along with other minor details.
The trade license is basically a company enlistment certificate. This trade license is later used to open a current account.