In India, the company is registered under the Ministry of Corporate Affairs (MCA). For incorporating a company file the the simplified proforma is SPICe (INC-32) with eMoA (INC-33), eAOA (INC-34). Filing these forms is required for the companies who want to incorporate a company through SPICe only.
Step-by-Step Process to Company Registration
The process of company registration is tough, so it is advisable to consult an expert. Below are the steps that are followed to register a company with MCA.
Step 1: Choose a Company Structure
Before starting a registration process it is important to choose a type of company that fits into the needs of business. For registering at the MCA website, choose between the Private Limited Company and LLP.
Step 2: Select a Unique Company Name
The name of your company must be unique and not match with the name of an existing company. You can check the name of any existing company through the MCA website. Checking the name is important for company registration, to avoid the cancellation of the name application.
Step 3: Director Identification Number (DIN)
The DIN is allotted to an individual appointed as a Director of a company by applying form DIR-3 according to sections 153 & 154 of the Companies Act, 2013. In the case of a new company, an application for allotment of DIN must made at the time of filing an electronic form of its incorporation.
Step 4: Digital Signature Certificate (DSC)
As per the Information Technology Act, 2000 digital signatures work to ensure the security and authenticity of the documents filed electronically. The digital signature shows that the documents are authentic and file by a company or LLP under the MCA21 e-Governance programme. The documents must have a Digital signature by the person authorised to sign the documents.
Step 5: Collect Required Documents
For Indian companies, submit copies of the documents, self-attested PAN card, Aadhaar Card, Driving license, and Passport. Address proof (telephone bill, electricity bill or bank account statement) and lastly the DIN and DSC.
For Foreign nationals, the important documents are a passport, copy of identity proof, address proof, and board resolution. The other required documents are office documents such as proof of business address, a copy of the rent agreement (if applicable), and the owner’s no objection certificate.
Step 6: File SPICe+ Form
The new companies who are registering themselves with the Ministery of Corporate Affairs (MCA) need to register through the SPICe+ form. The process is completely online which makes the incorporation process hassle-free. The information is mentioned in Part A and Part B of the SPICe+ form. The information will automatically shown in the linked forms such as AGILE PRO, eAoA, and eMoA. With the form, you can apply for PAN and TAN applications as well. Also, pay the fees in any mode of payment, you can pay through Credit Card, Debit Card, Net Banking, Challan, NEFT, or Pay Later.
Step 7: Receive Certificate of Incorporation
After applying, the MCA website will issue a Certificate of Incorporation (CoI) to the company which will work as proof of the existence of the company.
Conclusion
To conclude, businesses in India must have an incorporation certificate to conduct various business activities. After registering, one must comply with the regulatory requirements such as filing annual returns, appointing an auditor, holding Annual General Meetings (AGM) and providing director reports.