Business Featured

How to Register a Jewelry Business and Get Started

By Shreya Durgan

The registration certificate of a company is a legal requirement for starting a business in India. It is issued by the Registrar of Companies and certifies that the company is registered with the Ministry of Corporate Affairs (MCA) under the Indian Companies Act, 2013.

Accordingly, the registration process can take about 8-15 days to complete. For this purpose, you will be required to submit formal documents and pay the required fee.

The application can be submitted online through a business service provider, but you will need to provide the following details:

Name and address of directors
Address where the registered office will be located
Identity Proof
Address Proof
Rent Agreement/NOC
Utility Bill
Photos of Directors
PAN Card
Digital Signature Certificate

Steps to Register a Jewelry Business

Step 1 - Share the Documents

The first step of registering your jewelry business is to prepare all the documents.

Here are the documents and details necessary for registering a jewelry business:

Name and address of directors
Address where the registered office will be located
Identity Proof
Address Proof
Rent Agreement/NOC
Utility Bill
Photos of Directors
PAN Card
Digital Signature Certificate

The application can be submitted online through a business service provider. Accordingly, share all these documents with your authorized agent.

They will also help you to make sure that all the documents are correct and that the process does not take any longer than necessary.

Step 2 - Register the DSC and DIN of all Directors

After that, the next step is applying for the DSC (Digital Signature Certificate) and DIN (Director's Identification Number) of all the Directors.

DSC is necessary for signing all the documents digitally and is considered fully valid. It certifies the authenticity of the documents as well.

And the DIN of the individual is associated with all the companies in which they act as a Director. Thus, it also helps the government to keep track.

Your authorized agent will apply for a Class 3 DSC Certificate.

Usually, 2 DSCs are included in the company registration package.

But, in case you have more than 2 directors, it costs around Rs. 1000 per extra DSC.

Step 3 - Apply for Company Name Registration

A good company name is a vital step in starting your jewelry business.

It can help you to establish your brand and make a lasting impression on your customers.

A good company name should be:

Memorable
Easy to pronounce
Unique
Clear and concise

The company name must be unique in the Indian market and it cannot be identical to any other company already registered.

Also, the names of the directors, partners or shareholders of the company should not be a part of the business name.

A lot of people think that it is difficult to come up with a good company name on their own.

However, there are many ways to do this by brainstorming with friends and family members, looking at what other companies are doing and coming up with your own ideas.

The best way is to find out what you want your business to stand for and then use that as the basis for your company name.

Here are some ideas you can use for naming your jewelry business:

Jewelsful
Bling Yard
Blingfer
GoldKinara
Rings and Blings
The Dazzle Cut
Dreamy Diamonds
Spring Jewels
BlueJewar

Once you choose the best name, apply for name registration.

Thus, you will have the ownership of the company name before applying for company registration.

It will also avoid any rejection in case of a business name.

The fee for company name registration is Rs. 1000/-.

Step 4 - Creation of MoA, AoA and other Company Documents

The next step is creating an MoA (Memorandum of Association), AoA (Article of Association) and Authorisation Letter.

The compulsory clauses of an MOA of a company are as follows:

Name clause.
Registered Office Clause.
Object Clause.
Liability Clause.
Capital Clause.
Association Clause.

An MOA or Memorandum of Association is a legal document that outlines the objectives and purpose of the company and establishes its status as an entity.

Main Objectives of Jewelry Business

Here are the main objectives of a Jewelry Business to be included in the MoA:

To carry on all or any of the business of goldsmiths, silversmiths, jewelers, gem and diamond merchants and of manufacturing and dealing in clocks, watches, jewelry, cutlery and their components and accessories and of producing acquiring and trading in metals, bullion, gold ornaments, silver utensils, diamond, precious stones, paintings, manuscripts, antiques and objects of art.
To carry on the trades of business of goldsmiths, silversmiths, enamellers, jewelers, gem merchants, electroplates, importers and exporters of bullion and other refined and smelted metals.
To carry on business as goldsmiths, silversmiths, jewelers, gem merchants, importers and exporters of bullion and buy, sell and deal (wholesale and retail) in bullion precious stones, jewelry gold or silver cups, shields, articles of virtue objects of art.
To carry on business as goldsmiths, silversmiths, jewelers, gem merchants and importers and exporters of bullion and to buy, sell and deal in 9 wholesale or retail) precious stones, jewelry, gold and silver plate, electroplate, bronzes, articles or various objects of art and to manufacture and to establish factories for manufacturing goods for the above business.

The AoA includes a company's legal name, address, purpose, equity capital, organization of the company, financial provisions, and provisions regarding the shareholder meetings.

It is always better for an expert to do this on your behalf to avoid any errors and to make sure it is compliant with all the laws.