Since the incorporation of companies through INC-29, the steps involved in company formation have been reduced to 3. But exactly how must time it will take still depend upon the workload of the ROC official. Normally, the whole process involves 15 days time to complete registration of your company. Let's understand what all these steps are:
1. Obtain Digital Signature Certificate (DSC):
Since the whole process of company formation is online, so there is no opportunity to file any form physically. You can sign only physical documents which are attached to the forms. So, to sign all these e-forms, DSC class II are required. This can be obtained easily from the market, even professional can help you to get the DSC.
The documents required to get the DSC:
- Filled DSC form with applicant's handwritten signature.
- Identity proof: Copy of PAN, Passport, or voter ID.
- Address Proof: Copy of passport, Voter ID, Ration Card, Driving License, Aadhar card. And if you are going to submit utility bill, then make sure that must be in your name, not on your father, mother, spouse etc and not older than 2 months from the submitting of the application.
There may be chances that you DSC application may be rejected on common grounds such as abbreviated name, spelling mistake, using a prefix like Mr, Mrs or Ms.
- Search Company Name availability:
Practically, it's not the second step because you can search the even name of the proposed company before applying for DSC. It is just a facility available on MCA portal to find the uniqueness of your name as per name guidelines.
- Drafting Memorandum of Association and Articles of Association:
Memorandum of Association (MOA) and Articles of Association (AOA) are the bye-laws of the company. These are company constituting documents which define and govern workings of the company. These documents define the nexus of the company with outsiders. Any person, who is dealing with the company, must read MOA and AOA thoroughly.
- Filing of form INC-29
This form simplifies the whole process of incorporation is simpler and time-saving. In the earlier regime, there were separate forms for name approval, DIN and company incorporation. But, now INC-29 is the only form which can be filed to get the name, DIN and company formation.
Types of entities which can use INC-29 route to incorporate:
- Private limited company
- One person company
- Public limited company
- Producer company
It means this form can be used by section 8 company incorporation.
Followings are the documents required to be attached in form INC-29
- MOA and AOA
- Affidavit and declaration by the first subscriber and directors.
- Proof of registered office address i.e. rent agreement or sales deed.
- Copies of utility bill which is not older than 2 months.
- If proposed name resembles filed or registered trademark, then take NOC from the registered trademark owner