To promote the ease of company registration in India ministry of corporate affairs has come up with great opportunities for aspiring entrepreneurs welcoming them into the corporate world. Through this blog, we will take a look at the comprehensive procedure of company registration in India.
In India, for acquiring company registration the rules and regulations as prescribed in Companies Act 2013 shall be followed. Before starting the procedure of company registration a person should choose the most suitable business structure for himself. There are multiple options for company registration like the private limited company, public limited company, one person company, limited liability partnership, etc from which the aspiring entrepreneur can choose the most suitable one. Prior to choosing the perfect business structure, you should be well versed with the advantages and disadvantages associated with each one of them.
As the nation is rapidly moving towards digitization the whole the process of company registration is facilitated online due to which a person can get his company registered easily by sitting at home.
In order to register a company, a person is required to provide the following documents-
• Copy of Pan Card self- attested
• Copy of Voter Id card/ Driving License/Passport self-attested
• Copy of address proof (Electricity bill, phone bill, a bank statement that should not be older than 2 months)
• Photographs of Director’s
• Registered office address proof (Electricity bill, phone bill, the gas bill that should not be older than 2 months)
Details to be furnished
• Name of the company chosen
• The activity of the company
• Share Capital- Authorized and Paid up.
• Percentage of shareholding between subscribers
• Mobile number and e-mail id of directors
• Qualification and place of birth of directors
In order to incorporate a company in India, every person is required to follow the below-mentioned procedure-
Step 1: Obtaining a Digital Signature Certificate (DSC):
To begin the procedure of company registration the DSC must be obtained by every director of the company. In order to validate the documents submitted electronically a valid digital signature shall be attached to it. This provision is made to ensure safe submission of the required documents electronically. The digital signature certificate should be acquired by only those agencies which are appointed by the controller of certification agencies (CCA). Normally it takes 2 days to obtain DSC.
Step- 2 Filing Forms electronically
Through this step, the applicant is required to file below mentioned electronic forms relating to various company registration procedures.
SPICE 32- Through this form, the details relating to incorporating the company name, registered office address or notice of situation of office, PAN TAN details and notice for appointment of company directors, manager and secretary and also regarding the take and pay for their qualification shares are provided.
INC-33- Through this form, the Memorandum of association (MOA) of the company is filed. MOA is a document which defines the relationship of the shareholders with the company. It basically contains the objectives and powers of the company.
INC-34- In this form, the article of association of the company is filed. The article of association is a document containing the bye-laws which define the relationship of the company with outsiders. Information such as the total number of members, share capital, rules for a meeting of the company, voting power of members must be included in the Articles of Association.
Step-3- Certificate of incorporation
After the careful scrutiny of the application and document submitted the MCA may grant the certificate of incorporation to the proposed company. Further, the applicant will receive a confirmation email regarding the application for incorporation of a new company, and the status of the form will get changed to Approved. Finally, the applicant will receive the certificate of incorporation.