Company Registration Process
Do you want to commence a corporation in India but need help registering one? Don't worry; this blog will provide information about company registration in India, the company registration process, the Advantages of Company Registration, and other compliance requirements that must be met when opening a company in India.
How to Form a Company?
To form a company, there are a few key steps to follow. Firstly, decide on the type of company structure that suits your business needs, such as a private limited company or a public limited company. Next, choose a unique name for your Company and conduct a name availability search. Once the name is finalized, prepare the necessary documents, including the MOA(Memorandum of Association) and AOA(Articles of Association). After that, complete the registration process with the relevant government authority, submitting the required forms and fees.
Basic Requirements for Company Registration Process in India
The Company's name must be distinctive so that the suggested company name should not mistake any existing companies or trademarks in India.
An NOC from the landlord requires to use of a rental property as the registered office of a company.
There must be at least 2 directors in a private limited corporation, with a maximum of 15 members. One of the Company's directors has to be an Indian citizen.
A company's authorized capital has a certain amount of at least one lakh rupees.
Documents required for Company Registration procedure in India
For Indian Nationals for Company Registration Online in India:
PAN Card copy of the presented Directors.
Address proof of the directors, like Passport, Voter ID, Ration card, and Aadhar card.
Residential proof, such as Bank Statements, Electricity Bill, Telephone Bills, Mobile Bills, etc
Address proof of Registered office.
Proof of utility service like telephone, gas, electricity, etc., for office premises.
Identity and address proof of shareholders
MOA and AOA
For Foreign Nationals Company Registration Online in India:
Copy of Passport (Notarized).
Address proof of the directors like Driving License, Residence Card, Bank Statement, and Government issued form of identification containing the address.
Residential proof, e.g., Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill, etc.
Proof of Registered office.
Proof of utility service like telephone, gas, electricity, etc., for office premises.
Identity and address proof of shareholders.
MOA and AOA.
How to Register a Company in India?
Here is the Company registration process:
Get the DSC (Digital Signature Certificate).
Then, apply for the DIN (Digital Identification Number),
Then, after getting the name approval.
Submission of a document like MOA and AOA
Fill out the Spice+ form with detailed information.
The registrar of the Company will issue a COI(Certificate of Incorporation) with PAN and TAN.
Advantages of Company Registration in India
The advantages of forming a business will enhance your Company's legitimacy if registered. It benefits your Company in the following ways:
It shields you from personal liability and other risks and losses.
Boost the number of customers.
Obtain bank credits and suitable investments from commendable investors.
Protects your Company's assets by giving liability protection.
It enriches capital contribution and stability.
Enhances the Company's ability to enlarge.
Features of the Company
Incorporated association:
A company existed when it was registered under the Companies Act 2013. A company must fulfil the requirements of documents (MOA, AOA), share capital, shareholders and directors to be deemed a legal association.
Separate Legal Entity:
A company has a different distinct entity from its members or people controlling it. It means that only the Company is responsible for repaying creditors and getting sued for its deeds. They cannot sue the individual members for the Company's actions. Similarly, the Company is not liable to pay the member's personal debts.
Perpetual Existence:
Unlike other non-registered entities of business, a company is a stable business organization. Its life doesn't depend on the life of shareholders life, directors, or employees. Members can change, but the Company goes on forever.
How can we set up a business in India?
To incorporate a company using Spice+ with MoA (INC-33) and AOA (INC-34), most companies are obliged to use SPICe exclusively.
Is it necessary to be present in person while forming a private limited company?
Courier sends the firm incorporation certificate from the MCA to the business address. The documents need to be scanned and mailed. The entire process completes online, and you do not need to be present at our office or any other location to complete it.
What is the number assigned to a company's registration application?
A system-generated number assigned to an applicant for Name Reservation/Company Incorporation is called an Application Number.
What if the business name is not available?
You'll proceed to the Ministry of Corporate Affairs (MCA), which keeps track of registered company names, and see if yours is already there. If your firm's name shows in the company registration directory, you must change it. If you have already applied, you must submit another one for a new name that has not been registered yet.
Conclusion
In Conclusion, To incorporate a new company in India, you must register it with the Ministry of Corporate Affairs in India (MCA). The company registration process includes a Digital Signature Certificate (DSC), Director Identity Number (DIN), and submitting an electronic form. If you have any troubles regarding the incorporation of a new company, feel free to contact Lawgical India, and we'll guide you through the entire company registration process.
