Incorporating a company in India is not merely a formality; it is a strategic decision to leverage the growing Indian economy, which is among the fastest-growing economies in the world. The Indian market offers unprecedented opportunities in the fields of technology, manufacturing, and services. By incorporating a company, you shift from the unorganized sector to the organized corporate world.
Incorporation confers "Corporate Personality" to a firm, which is a person in the eyes of the law, separate from its promoters. This enables:
The Ministry of Corporate Affairs (MCA) has revolutionized this process through its new SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) online portal.
The procedure is divided into two parts:
TAt Ruchi Anand & Associates, we are here to guide you through this process in the following steps:
Step 1: Digital Signature Certificates (DSCs): Since this process is online, the directors have to sign the documents electronically. We help the directors obtain Class 3 Digital Signature Certificates for all the proposed directors.
Step 2: Director Identification Number (DIN): Any individual planning to be a director must have a DIN. This is done in the integrated SPICe+ form for up to three directors.
Step 3: Approval of the Name: We apply for the names of choice with the Ministry of Corporate Affairs in the order of priority. The name must be unique and not violate any of the existing Trademark laws.
Step 4: Drafting the MoA and AoA The Memorandum of Association of the company is the constitution of the company, and the Articles of Association contain the rules and regulations of the company. We draft these documents to protect your business interests.
Step 5: Filing for Incorporation: We upload the e-MoA, e-AoA, and the SPICe+ form. At this stage, we also apply for the PAN and TAN of the company.
Step 6: Certificate of Incorporation: The Registrar of Companies (ROC), after verifying the details, issues the Certificate of Incorporation (CoI), which includes a unique Corporate Identity Number (CIN).
On an average, it takes 7 to 10 working days in incorporating an entity with Ruchi Anand & Associates after providing all documents.
Yes, as long as there is at least one director who is a Resident of India.
Two directors in case of a Private Limited Company and three directors in case of a Public Limited Company.
No, you can provide your residential address as your registered office address as long as you provide an NOC from your landlord.
With the new form SPICe+, you can register your GST as well; however, it is processed separately by the GST department.
Company incorporation refers to the legal process of forming a new company or business entity as a separate legal entity under the applicable laws of the country.
In India, various types of companies can be incorporated, including private limited companies, public limited companies, one-person companies (OPCs), and limited liability partnerships (LLPs), among others.
For a private limited company, a minimum of two directors and two shareholders are required. For a public limited company, a minimum of three directors and seven shareholders are required.
There is no minimum capital requirement for incorporating a private limited company in India. However, companies are required to declare an authorized capital during the incorporation process.
The proposed name for the company must be checked for availability and uniqueness using the MCA's RUN (Reserve Unique Name) web service. Once approved, the name remains reserved for 20 days.
Incorporation is not only about getting a certificate; it is about laying the right foundation. Ruchi Anand & Associates offers a "360-Degree Incorporation Suite" that includes the following services:
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