If you want to take business to new heights then you need to get it recognized in the society. So the first step that a person must do for getting a recognition in the market is to choose such a form of entity that will be well recognized. For the same purpose, the person must register his business as a company so that his business will get recognized in the market. Further there are various benefits that the person will get being its company registered. Furthermore, India’s plan for ease of doing business make the process for company Registration so fast that now you can incorporate your company within one or two days.
Company is a common choice for start-ups and businesses with high growth aspirations to start a business in India. A Private / Limited Company is governed by the MCA and licensed under the Companies Act 2013. It is a recognized Company type, which gives the organization’s members a distinct legal identity. Providing important benefits, such as the right to negotiate on its own behalf, and safeguarding the personal interests of shareholders from corporate responsibility.
1. Company Based on Limit
2. Company Based on members
3. Company Based on Control
All the Companies formed or registered in India are regulated under the Companies Act 2013. Apart from Companies Act 2013, if the company wants to do any finance, insurance, telecom, banking, business then the company also needs to get itself registered with the concerned sectorial regulator.
1. Apply for Name approval
The first step in the company incorporation process is to apply for Name approval as proposed by the company. The Proposed name of the Company can be applied using Reserve Unique Name (RUN) facility on MCA Portal.The MCA will scrutinize the application and sends the approval / Resubmission to the applicant.
2. Preparation of Draft documents for Company registration
After approval of name by the MCA, there needs to be filed certain documents in SPICE+ form on the MCA Portal for completing the company registration process. So, we need to prepare the draft documents and get it signed by the director and shareholders for filing form with MCA for company registration.
3. Acquiring of Digital Signature Certificate (DSC)
For filing of SPICE+, we need to apply for Digital Signatures Certificate (DSC) of all the directors and shareholders of the Company, which would be required to be affixed before filing of SPICE+ Form on MCA Portal.
4. Preparation and Filing of SPICE+ Forms
The next step is to prepare the SPICE+ Forms using MCA Portal. We need to prepare, SPICE +, SPICE MOA, SPICE AOA, AGILE AND Form INC-9, which needs to be filed as Linked form on MCA Portal.
5. Follow up and revert to MCA Queries
If MCA found any discrepancy in the forms filed for company registration, then it will send the resubmission along with reason for not providing the approval of form. We need to fulfill the requirements as sent in the resubmission for registration of our company.
6. Approval and issue of COI
After proper verification of documents and on being satisfied that the information provided is true and correct, the MCA will issue the certificate of incorporation along with PAN and TAN of the Company.
The following documents shall be required for registration of the Company
We offer all kinds of Consultancy, Compliances and Registration Services in relation to all types of Companies. We have empanelled various experts to provide the expert advisory, Registration and Compliances services for all types of Companies.
The services included in Company registration are:
The service includes the following:
Rajput Jain & Associates offers the following Cost effective & Easy Company Registration Services packages for its Clients with in schedule days from Anywhere in India:
Is there any minimum number of directors required for Company Registration?
Yes, the minimum number of directors required for Company Registration is as follows:
Is there any minimum number of shareholders / members required for Company Registration?
Yes, the minimum number of shareholders / members required for Company Registration is as follows:
Do we require to apply for DIN separately for company registration?
No, the DIN upto 3 directors can be applied in the SPICE+ Form itself.
Can we apply the company name directly without using the RUN facility?
Yes we can directly apply the company name directly in the SPICE+ Form.
What's the MOA and AOA?
The Companies Act requires all companies incorporated in India to submit documents specifying the financial structure of the company, the company in which it is engaged and how it is managed, owned and governed. Such specifics are set out in the Memorandum of Association (MoA) and the Articles of Association (AoA).
Can Registered Office modified after Company formation ?
Yeah sure, a company may change its registered office at any point after formation. The modified address could be located in the same state or in a different state from the state in which it was initially registered.
Which kind of form of entity is best suited for?
Entity preference depends on the circumstances of each situation. Private Limited company has less number of approval criteria. Thus, where there is usually no obligation to collect funds from a public issue and ownership is meant to be owned exclusively by a small group of individuals, Private limited company is the safest option.
What is a minimum capital required for Pvt Ltd Company's?
At the time of establishment of a private limited company, the minimum paid-up capital must be Indian Rupees 1,00,000 (though it was excluded under Companies Act 2013). There is no upper limit on having the approved capital and the paid up capital .By paying Extra stamp duty and Registration fees, you can Increased it at any time.
Difference between authorized and paid-up capital?
The authorised capital is the capital amount permitted by the Company Registrar up to which, as the case may be, the shares must be sold to members / public. The paid-up share capital is the paying part of the shares that the owners belong to.
Applicable procedure for obtaining a proposed Company name approval?
An Application in Form No. INC-1 must be registered electronically with the Registrar of Companies ( ROC) via Digital Signature from one of the proposed Directors. In the said case, the descriptions to be furnished are:
how could a certificate of incorporation be issued?
The ROC shall call the Attorney for clarification after the submission of the documents which will make the amendments to the MOA and AOA submitted. The certificate of incorporation shall be issued in accordance with the same provisions.
What is comparison of other form of entity for Business Setting up in India.?
The below are Kind of Business entity comparison guide
|Registration||Not Compulsory||Optional/ Can be Registered under partnership Act 1932||Registered Under MCA||Registered Under MCA||Registered Under MCA and Companies Act 2013|
|Transferability Option||Not Allowed||Not Allowed||Can Be Transferred||Can Be Transferred||Allowed to only one person|
|Annual Filings||Income Tax Returns with the Registrar of companies||Income Tax Returns with the Registrar of companies||Filed with the registrar of the company||Filed with the registrar of the company||Filed with the registrar of the company|
|Members||Maximum 1||2-20||2- Unlimited||2-200||1|
|Legal Status of Entity||It is not Considered as separate Legal entity||It is not considered as separate Legal entity||It is Considered as separate Legal entity||It is considered as separate Legal entity||It is considered as separate Legal entity|
|Members Liability||Unlimited Liability||Unlimited Liability||Liability of its members is limited||Limited to the extent of share capital||Limited to the extent of share capital|
|Taxation||As in Individual||30% of Company Profit||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable||30% of Profit Plus CESS and Surcharges applicable|
Rajput Jain and Associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
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Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
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