Gaming Industry is growing rapidly all over the world due to growth in the internet users and technology improvements availability of high speed internet data and growing interest of the users. In the present time online gaming business is a very profitable business opportunity. In this article we will discuss about how to start online gaming company in India
Idea for Game Development
The first thing to start the online gaming business is you should have a product, the product will be your game a particular game that you are offering to public, a good product is necessary for every business, as such a good online gaming business requires you to have a good 🎯 so that people can have interest and spend considerable time on gaming. Idea for the game development requires you to think of every aspect of the gaming that who will be your target audience is for the particular game, the gaming platform on which the game will be doubled how much cost will be involved in marketing of the game the expected revenue that this game in business can generate. The Good thing is you can make a sheet of all these calculations.
Procedure for Online Gaming Company Registration
In India there are many business structures available under which you can do the business, following are the business structures under which you can register your online gaming company
- Proprietorship Firm
- Partnership Firm
- Limited Liability Partnership (LLP)
- Private Limited Company
- Public Limited Company
You can either choose any of the Above business structures in India, in this article we will discuss about private limited company and LLP as a business structure as these two business structures are the most popular business structure and you need either of one.
Registration of online gaming company as private limited company
Today register and online gaming company as a private limited company you need to have minimum 2 shareholders and the two directors, (shareholders can also be directors and vice versa) if you are registering a private limited company as a single individual you can register it has a one person company also in that case you will need one person has your nominee.
Minimum requirements for registration of online gaming company as private limited company
- Minimum 2 members
- Minimum 2 Shareholders
- Name of Company (ABC eSports Private Limited)
- Address of Company
- Share Capital (there is no minimum capital requirement)
- Share to be subscribed by each shareholder at the time of Incorporation
- Email ✉️ of Company
- Email id of Directors
- Mobile Number of Directors
- Main object of Company (Gaming Company)
- PAN and Aadhar of Directors or Subscribers
- Bank statement of Subscribers ( Latest with Name and Address )
- Communication Address or Registred office Address of Company
All the documents and information required for registration of an online gaming company.
Main object of online gaming company
The main objects of any company is something that depends what a company can do, if we are in operating in online gaming company we should have the companies main object of online gaming this will only enable has to pursue our objects
Following are the draft main objects of online gaming company
1. To conduct “games of skill” which includes all such games where there is a
preponderance of skill over chance, including where the skill relates to strategising the
manner of placing wagers or placing bets, or where the skill lies in team selection or
selection of virtual stocks based on analyses, or where the skill relates to the manner in
which the moves are made, whether through deployment of physical or mental skill and
2. To conduct skill games programme like Chess, Sudoku, Quizzes, Binary Options, Bridge,
Poker, Rummy, Nap, Spades, Auction, Solitaire, virtual Golf, virtual racing games
including virtual horse racing, virtual car racing etc.; virtual Sports including virtual
Soccer, virtual Cricket, virtual Archery, virtual snooker/bridge/pool, virtual fighting,
virtual wrestling, virtual boxing, virtual combat games, virtual adventure games, virtual
mystery and detective games, virtual stock/monopoly games, virtual team selection
games, virtual sport fantasy league games.
3. To offer “games of skill” on website, mobile platform, television or any other online
media and also to earn a revenue by means of advertising or by taking a percentage of
winnings of game play or charging a fixed fee for membership or for downloading a
4.To carry on the business of buying, selling, reselling, importing, exporting, transporting, storing, developing, promoting, marketing or supplying, trading, dealing in any manner whatsoever in all type of goods related to games on retail as well as on wholesale basis in India or elsewhere.
GST Registration of online gaming Company
What’s the companies incorporated we have to apply for GST registration of a company registration of company can also be applied at the time of incorporation also but it is advisable to you first open a bank account the company, infuse initial capital to the company’s bank account and then apply for the GST registration separately as per the needs. If you’re turnover is below threshold limit of 20 lakh rupees you need not to apply, if you wish to take the GST number you can apply so GST, this will also help you to claim input tax credit on the GST paid if you are purchasing and paying for marketing, advertising etc. Or paying for expenses for app development or expenses relating to the server. I think it make sense to apply GST.