Initially to select a name for the Company and it is to be decided whether it is a
Proprietor concern -- Single owner/Proprietor.
Partnership concern - Two or more partners in a firm.
Limited Company - Two categories viz., private Limited company or Public Limited company.
Private limited company is owned privately by a small group of people such as a family. They are not allowed to offer shares (in the company) to the general public and can function just as director.
Public limited company is owned by public share holders and they are allowed to offer shares of the Company in the market.
Next Step In Export Is To Open A Bank Account:
Open a Current account in the name of the Company from a reputed Bank .Current a/c is opened by people who are engaged in trades, businesses. Current account is a bank deposit that can be withdrawn by the depositor at any time,and he is at liberty to operate this account any number of times in a day unlike savings accounts, where only limited transactions are allowed. Current account bears no interest.
Current Account Can Be Opened By:
Any resident Indians who are 18 or above in age.
Individuals/Sole Proprietorships/Partnerships/Associations/Private and public companies/ Societies/Trusts/HUFs, etc.
Others like Govt. and semi Govt. bodies, local authorities etc.
Bank requires minimum deposit of Rs.10,000 to Rs.50,000 for opening a current account and it varies from Bank to Bank. Generally, nationalised banks require less Minimum Deposit.
For more details:www.eximguide.com
How to start Export business