Quick Overview of MCA Company Registration

Here’s a quick overview of company registration in India:-

Online Company Registration in India

Company registration refers to the process of incorporating a company with the Ministry of Corporate Affairs (MCA) by filing the prescribed SPICe+ form and submitting the required documents. Upon successful registration, the company is issued a Certificate of Incorporation (COI) by the MCA. 

The COI includes the Corporate Identification Number (CIN), a unique 21-digit alphanumeric code assigned to companies registered in India by the Registrar of Companies (RoC). 

If you want to ensure accurate filing of SPICe+ form and improve chances of getting your company registered, you can connect with our consultants at Registrationwala. 

Types of Companies In India under Companies Act, 2013

Under the Companies Act, 2013, there are six types of companies in India. Below, we explain the definition of each type of company, along with its key features and for whom it is best suited.:-

Eligibility Criteria For Company Incorporation Online

Keep the following points in mind before you apply to register your Company online in India. These are the critical requirements for registering a company in India because they give it the regulatory infrastructure necessary to receive the MCA's approval.:-

• Minimum no. of directors required depending on company type:- Every company must appoint the minimum number of directors. The required number varies depending on the type of company. 

• An OPC must have at least one director.

• A Private Limited Company must have a minimum of two directors. 

• A Public Limited Company is required to appoint at least three directors. 

• A Nidhi Company must also have a minimum of three directors. 

• If a Section 8 Company is incorporated as a pvt ltd company, it must appoint at least two directors. In case it is a public company, 3 directors are required. 

• A Producer Company is required to have a minimum of five directors.

• Minimum no. of shareholders required depending on company type:- Here’s a look at the minimum no. of shareholders required in a company depending on the type of company.

• 1 shareholder for One Person Company, 

• 2 or more shareholders for Pvt Ltd Company & Section 8 Company, 

• 7 or more shareholders for Public Limited Company & Nidhi Company, 

• 10 individuals for Producer Company. 

• The directors and shareholders can be the same individual:- The directors and shareholders/members can be considered the same when applying for new company incorporation online. 

• There should be at least one director who is a resident of India:- One of the biggest requirements of company registration online in India is having at least one Resident Director in the incorporated Company.

• The name of the Company should be unique:- Any new company registration in India can only happen online if the name of the Company is unique. If your firm's name contravenes the rules and regulations of the MCA or provisions under Companies Act, 2013, in any way, you won't be able to obtain online company registration in India. 

Step-by-Step Checklist Before Online Business Registration 

Registering a company in India requires careful planning. You need to ensure you complete all the legal formalities and fulfill all the regulatory requirements. Here is a step-by-step checklist that you must follow before moving ahead with the online business registration process.:-

• Choose Appropriate Business Structure:- The business structure appropriate in your case depends on various factors like capital, liability, no. of shareholders, etc.

• Decide a Unique Name for Your Company:- Choose a unique name for your company. Make sure it doesn’t already exist in records of MCA or the trademark registry.

• Collect the KYC documents:- Make sure you have all the KYC documents in place. This includes documents like PAN, aadhaar, passport (for foreign nationals), address proof (latest utility bills and bank statements) and passport-sized photographs for shareholders and directors.

• Finalize authorized share capital and shareholders:- You must decide on the authorized share capital and no. of shareholders in the company. 

• Appoint resident director:- You must ensure you appoint at least one resident director who has lived in India for 182 days in the previous year. This is a mandatory requirement under the Companies Act, 2013, and every company must meet this requirement.

Step-by-Step Company Registration Process

The following steps are involved in company registration:-

• Check Availability of Company Name:- It is important to check whether the name you have decided for your company is available or not. For this, you can use the MCA search tool or our platform. If the name is not available, you must choose another name that is available.

• Gather the Required Documents:- Prepare all the necessary documents required during the company registration process. Get them certified by a practicing chartered accountant or company secretary.

• Application for DSC:- A digital signature certificate (DSC) is basically a digital,  legal alternative of traditional wet signature. It is required for filing company registration application online. It allows you to authenticate the documents you upload on MCA during the registration process. 

• Application for DIN:- Each and every director in India must possess a valid director identification number (DIN) as a mandatory legal requirement. Therefore, while incorporating a company, it is necessary for directors-to-be-appointed to secure DINs. 

• Draft Constitutional Documents (MOA and AOA):- Prepare a draft of  the Memorandum of Association (MOA) and Articles of Association (AOA). While creating MOA’s draft, ensure it includes legally compliant clauses. Also, make sure the AOA clearly outlines the company’s internal regulations, bye-laws and management structure.

• File the SPICe+ form:- You must file the SPICe+ form with MCA to register a company in India. This form has Part A and Part B. Both the parts must be filled out accurately before submission. 

• Processing of the application form:- The Registrar of Companies (RoC), MCA, will assess your application form after receiving it. If all the details are accurate and complete, and in alignment with MCA regulations and provisions of Companies Act, 2013, the RoC will issue a company incorporation certificate in the name of your company. 

Timeline for Company Formation in India

Let us give you an idea about the timeline for company formation in India.:-

Documents Required for Company Incorporation

The following documents are required to incorporate a company in India:-

What to Do After Company Incorporation?

After your company is successfully incorporated, you may wonder what comes next. There are several annual compliance requirements that every company must follow. These are as follows:-

• Once the company is registered with the MCA, the Board of Directors must appoint the company’s first auditor within 30 days of incorporation. If the Board fails to appoint the auditor within this time period, the shareholders shall appoint the first auditor within 90 days at an Extraordinary General Meeting.

• Every company must conduct its first board meeting within 30 days of incorporation. 

• For most companies, 4 board meetings must be held in a year at the stipulated intervals. However, in the case of a one person company, only 2 board meetings need to be held, i.e., one in each half of the calendar year. 

• A company must maintain statutory registers and records at its registered office. This includes Register of Members, Register of Directors and KMP, Minutes Book, Register of Charges, Books of Accounts, etc.

• Certain annual forms must be filed by companies with the RoC like DIR-3 KYC and AOC-4. To know more, connect with our compliance experts at Registrationwala.

Advantages of Business Incorporation in India

Check out the key advantages of company registration in India.:-

• Separate Legal Entity Status:- A company is a separate legal entity from its owners. This gives companies an edge over sole proprietorships and partnership firms that regard the owner and the business as the same legally.

• Limited Liability Protection:- A company offers limited liability protection to all its shareholders. 

• Perpetual Existence:- A company offers perpetual succession, meaning that its existence is not affected by the death, insolvency or incapacity of its members/ directors. 

• Right to Own Property in Company’s Name:- A company, being a separate legal entity from its owners, has the right to own/acquire/transfer property in its own name. 

• Right to Sue & Be Sued in Company’s Name:- It also has the right to initiate legal proceedings or face legal action in its own name.

• Better Potential for Raising Funds:- Companies have a better chance of raising funds from banks, financial institutions and investors due to their structured governance as well as higher credibility.

• Smooth Transfer of Shares:- Companies in India follow a pretty smooth and standardized procedure for the transfer of shares. As a result, it is usually easy for shareholders to exit/transfer their ownership.

Why Choose Registrationwala for Company Registration Services?

Our experts at Registrationwala provide you end to end company registration services in India by assisting you in the following manner:-

• Collecting and organizing the documents.

• Applying for the Digital Signature Certificate.

• Digitally certifying the documents.

• Precisely drafting the MOA and AOA.

• Filing the application for business registration online.

• Obtaining and forwarding the Certificate of Incorporation.

We ensure that your online company incorporation requirements are always on time. Our professionals understand the intricacies of the online company incorporation procedure. Thus, we have expedited the process, helping you incorporate your company easily in a time bound manner. 

Registrationwala is an all-legal service provider for start-ups. We provide full-fledged company incorporation and post-incorporation services in India. Each service is optimized for good results. 

We charge affordable company incorporation fees for our services. So, reach out to our experts and start realizing your dream of being your boss by starting your own Company.

Frequently Asked Questions

Q1. What is the company registration number in India?

A. Company registration no. or Company incorporation no. (CIN) is the unique identification number of the company.

Q2. How to check a company registration number?

A. To check company registration, you can enter the name of the company in the incorporation portal in India.

Q3. In which company, the registration of article of association is optional?

A. Article of Association is a critical component of company registration in India. Therefore, there is no instance where this document is optional. You must provide the Registrar of Companies with this document in order to incorporate your company.

Q4. How to check company name availability in India?

A. For company name availability check India, you must write down the name of the company on MCA company search portal or Registrationwala’s official company search platform.

Q5. How to check the registration status of a company in India?

A. For company registration status check in India, online methodology can be implemented. You can either use our company registration agency or the official MCA portal.

Q6. Who provides a certificate of incorporation (COI) to the company?

A. The company registration certificate, officially known as the certificate of incorporation (COI), is provided to a company by the Ministry of Corporate Affairs via the online mode.

Q7. What is DSC company incorporation?

A. DSC is the Digital Signature certificate; a document critical to the company incorporation process when it is conducted online.

Q8. How many minimum members are required for registration of public company?

A. To register a public company, a minimum of seven members are required.

Q9. How to check a company's registration status on Registrationwala?

A. Just enter the name of the company in our company search portal and you will get the information about whether a company is registered or not.

Q10. How to cancel company registration in India?

A. To cancel registration of a company, you must apply for a company strike-off. For this, you need to get the approval of the board and the creditors to strike off the company. Then, fill out the application for company strike off. The ROC will issue a notice of the same. The next step is the publication of company dissolution. After that, passing the order of company dissolution is required. Cancellation of company registration will then finally be done. 

Q11. What is pvt ltd company registration govt fees?

A. The govt fees for registering a pvt ltd company is usually between Rs. 7000 to Rs. 15000, depending on the company’s authorized share capital. In case of higher authorized share capital, the govt fees for registration is higher. Apart from this cost, there are some extra costs you’ll be required to cover like professional fees, digital signature certificates and director identification numbers for company directors.

Q12. How to register a company name in India?

A. To register a company name in India, SPICe+ Part A must be filed with the MCA.

Q13. What do you mean by OPC company registration?

A. OPC registration, or One Person Company registration, is the process of legally incorporating a company with only one shareholder under the Ministry of Corporate Affairs (MCA).