Understanding Different Types of Companies
Requirements for Company Registration
Step-by-Step Process of Company Registration
- Choose a Company Name
- Ensure the name is unique and complies with the MCA naming guidelines.
- Check name availability on the MCA website.
2. Obtain Digital Signature Certificate (DSC)
- Apply for DSCs for all proposed directors.
- Required for electronic filing of documents.
3. Apply for Director Identification Number (DIN)
- Submit DIN applications for all proposed directors through the MCA portal.
- Requires identity and address proof.
4. File Name Reservation (RUN Form)
- Reserve the company name using the Reserve Unique Name (RUN) form on the MCA portal.
- Name approval typically takes a few days.
5. Prepare Incorporation Documents
- Draft the Memorandum of Association (MOA) and Articles of Association (AOA).
- Prepare additional documents like the declaration by the directors and address proof.
6. Complete SPICe+ Form
- Fill out the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form.
- Upload the required documents, including MOA and AOA.
7. Pay the Registration Fees
- Pay the prescribed registration fees based on the company’s authorized capital.
- Fee payment is done through the MCA portal.
8. Submit Incorporation Documents
- Submit the SPICe+ form along with all required documents and fees.
- Includes director and shareholder details, registered office address, and professional certification.
9. Verification by Registrar of Companies (ROC)
- The ROC reviews the application and documents.
- If everything is in order, the ROC approves the application.
10. Obtain Certificate of Incorporation (COI)
- Upon approval, receive the Certificate of Incorporation (COI) from the ROC.
- The COI includes the company’s Corporate Identification Number (CIN).
11. Apply for PAN and TAN
- Apply for the company’s Permanent Account Number (PAN) and Tax Account Number (TAN).
- These are essential for tax purposes.
12. Register for GST (if applicable)
- If the company’s turnover exceeds the threshold, register for Goods and Services Tax (GST).
- GST registration can be done online through the GST portal.
13. Open a Bank Account
- Open a bank account in the name of the company.
- The COI, PAN, and other documents are typically required by banks.
14. Comply with Post-Incorporation Requirements
- Hold the first board meeting within 30 days of incorporation.
- Issue share certificates to subscribers.
- Maintain statutory registers and records.
Obtaining Necessary Documents
- Director Identification Number (DIN)
- Apply for a DIN for each proposed director.
- Required documents: Identity proof (e.g., PAN card), address proof (e.g., passport, driver’s license), and passport-sized photographs.
2. Digital Signature Certificate (DSC)
- Obtain a DSC for all proposed directors for electronic document submission.
- Required documents: Identity proof and address proof, passport-sized photographs, and application form.
3. Memorandum of Association (MOA)
- Draft the MOA outlining the company’s objectives and scope of activities.
- Must be signed by all shareholders and witnessed by a professional (CA, CS, or advocate).
4. Articles of Association (AOA)
- Draft the AOA detailing the internal management rules and regulations.
- Must be signed by all shareholders and witnessed by a professional.
5. Registered Office Address Proof
- Provide proof of the registered office address.
- Required documents: Utility bill (e.g., electricity, water) or property tax receipt, rental agreement, and a no-objection certificate (NOC) from the property owner.
6. Identity and Address Proof of Directors and Shareholders
- Submit identity proof (e.g., PAN card) and address proof (e.g., passport, voter ID, driver’s license) for all directors and shareholders.
- Also provide passport-sized photographs.
7. Declaration by Directors
- Each director must sign a declaration stating their eligibility to act as a director.
- Declaration forms are typically provided by the MCA portal.
8. Professional Certification
- Obtain certification from a Chartered Accountant (CA), Company Secretary (CS), or a cost accountant.
- Professional certifies the incorporation documents and compliance with legal requirements.
9. Incorporation Documents
- Prepare and file incorporation documents through the MCA’s SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form.
- Includes MOA, AOA, director and shareholder details, and proof of registered office address.
10. PAN and TAN Application
- Apply for the company’s Permanent Account Number (PAN) and Tax Account Number (TAN) through the NSDL or UTIITSL portal.
- Required documents: COI, MOA, AOA, and proof of registered office address.
11. GST Registration (if applicable)
- Register for Goods and Services Tax (GST) if the company’s turnover exceeds the threshold.
- Required documents: PAN, proof of business address, identity and address proof of directors, and bank account details.
12. Bank Account Opening
- Open a bank account in the company’s name.
- Required documents: COI, PAN, AOA, MOA, and address proof.
Conclusion
FAQs
Q: 1What are the basic steps to register a company in India?
Ans: Choose a unique name, obtain DIN and DSC for directors, prepare MOA and AOA, file incorporation documents through the MCA portal using the SPICe+ form, and get the Certificate of Incorporation (COI) from the ROC.
Q:2.What documents are required for company registration in India?
Ans: Required documents include the proposed company name approval, DIN, DSC, MOA, AOA, proof of registered office address, identity and address proof of directors and shareholders, and professional certification.
Q:3 How long does it take to register a company in India?
Ans : It typically takes 15-20 days, depending on the submission of documents and ROC approval.
Q:4.Can a single person register a company in India?
Ans: I Yes, a single person can register a One Person Company (OPC).
