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Monday, October 23, 2017
You are here : Company Registration Process

Company Registration Process

Registration Process
  • a. For Indian Owners
  • b. For Foreign Owners

FOR INDIAN OWNERS

1.ONE PERSON COMPANY

Overview

The concept of One Person Company (OPC) in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a OPC is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership. Similar to a Company, a OPC is a separate legal entity from its members, offers limited liability protection to its shareholders, has continuity of business and is easy to incorporate.

Though a One Person Entity allows a lone Entrepreneur to run a business with Limited Liability protection, a OPC does have a few limitations. For instance, every OPC must nominate a nominee Director in the MOA or AOA who will become the owner of the OPC in case the promoter Director is disabled. Also, a OPC must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year. Therefore, it is important for the Entrepreneur to carefully consider the features of a OPC prior to incorporation. It provides credit-ability to business in financial institutions, suppliers and potential clients. As it makes easier for companies to get loans at favorable terms from banks or convincing potential clients while entering into deals as companies are trusted more than other forms of business. We can help incorporate a One Person Company (OPC) in India.

Process

Usually it takes 14 to 20 days to incorporate an OPC, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Director of the OPC. DIN and DSC can be obtained for the proposed Director within 3 to 4 days.

2. Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.

3. OPC Incorporation

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

NEW: One Person Company Registration Process Using Form INC-29

INC-29 Company Registration

We can incorporate a One Person Company using Form INC-29 in 5 to 10 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC is required for the proposed Director of the One Person Company. DSC can be obtained for the proposed Director within 3 to 4 days.

2. Filing for Incorporation

One name must be selected for the company after referring to the MCA Name and Trademark database. Incorporation names are prepared and filed based on the selected name.

3. Company Registered

Form INC-29 is submitted to MCA with the relevant documents. If the name is acceptable, MCA will issue incorporation. Else, re-submission with new name may be required.

c. Documents Required

  • 1. Pan card of proposed directors
  • 2. Address & identity Proof of Proposed Director
  • 3. Photo
  • 4. Address proof of the Registered Office of the Company
  • 5. Sale Deed/lease agreement/Rent Deed

2. PRIVATE LIMITED COMPANY

Overview

Private Limited Companies are those types of companies where minimum number of members is two and maximum number is fifty. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc.

Procedure

We can incorporate a Private Limited Company in 14 to 20 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Private Limited Company. DIN and DSC can be obtained for the proposed Directors within 3 to 4 days.

2. Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.

3. Company Registration

Registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

NEW: Private Limited Company Registration Process Using Form INC-29

INC-29 Company Registration

We can incorporate a Private Limited Company using Form INC-29 in 5 to 10 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC is required for the proposed Directors of the Private Limited Company. DSC can be obtained for the proposed Directors within 3 to 4 days.

2. Filing for Incorporation

One name must be selected for the company after referring to the MCA Name and Trademark database. Incorporation names are prepared and filed based on the selected name.

3. Company Registered

Form INC-29 is submitted to MCA with the relevant documents. If the name is acceptable, MCA will issue incorporation. Else, resubmission with new name may be required.

Documents Required

  • 1. Pan card of proposed directors
  • 2. Address & identity Proof of Proposed Director
  • 3. Photo
  • 4. Address proof of the Registered Office of the Company
  • 5. Sale Deed/lease agreement/Rent Deed

3. PUBLIC LIMITED COMPANY

Overview

A limited company grants limited liability to its owners and management. Being a public company allows a firm to sell shares to investors this is beneficial in raising capital. A minimum of three Directors are required for establishing a Public Limited Company and it has more stringent regulatory requirements compared to a Private Limited Company.

Public Limited Companies are those types of companies where minimum number of members is seven and there is no cap on the maximum number of members. A public limited company has most of the characteristics of a private limited company. A public limited company has all the advantages of private limited company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc.

Procedure

We can incorporate a Public Limited Company in 14 to 20 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Public Limited Company. DIN and DSC can be obtained for the proposed Directors within 3 to 74 days.

2. Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.

3. Company Incorporation

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

Documents Required

  • 1. Pan card of proposed directors
  • 2. Address & identity Proof of Proposed Director
  • 3. Photo
  • 4. Address proof of the Registered Office of the Company
  • 5. Sale Deed/lease agreement/Rent Deed

4. SECTION 8 COMPANY IE NOT FOR PROFIT COMPANY

Overview

Section 8 Company is named Section 8 of the Companies Act, 2013, which pertains to a established ‘for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members. Therefore, Section 8 Company or Section 25 Company is a company registered under the Companies Act, 2013 for charitable or not-for-profit purposes.

A Section 8 Company is similar to a Trust or Society; expect, a section 8 Company is registered under the Central Government’s Ministry of Corporate Affairs. Trusts and Societies are registered under State Government regulations. A section 8 company has various advantages when compared to Trust or Society like improved recognition and better legal standing. Section 8 company also has higher credibility amongst donors, Government departments and other stakeholders.

Procedure

We can register a Section 8 Company in 20 to 30 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Section 8 Company. DIN and DSC can be obtained for the proposed Directors within 3 to 4 days.

2. Name Approval & License

Once DIN and DSC are available for at least two Directors, application for reservation of name for section 8 company can be made to MCA. Once, the name is reserved, a license must be obtained prior to incorporation from the central government.

3. Section 8 Company Registration

Once the license is obtained, registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing.

Documents Required

  • 1. Pan card of proposed directors
  • 2. Address & identity Proof of Proposed Director
  • 3. Photo
  • 4. Address proof of the Registered Office of the Company
  • 5. Sale Deed/lease agreement/Rent Deed

B. FOR FOREIGN OWNERS

Overview

There is a lot of interest among foreign companies to start their operations in India and tap into one of the largest and fast growing market, and have access to some of the best human resources in the world. A Foreign National (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India (other than entity incorporated in Pakistan or Bangladesh) can invest and own a Company in India by acquiring shares of the company, subject to the FDI Policy of India. In addition, a minimum of one Indian Director who is a Indian Director and Indian Resident is required for incorporation of an Indian Company along with an address in India.
Investment and acquisition of equity shares of a Company can be broadly divided into two categories: investment under automatic route and investment under Government approval route. The automatic route requires no requirement of any prior regulatory approval for investment in equity shares of an Indian business and only post facto filing/intimation with the Reserve Bank of India within 30 days of receipt of investment money in India and filing of prescribed documents and particulars of allotment of shares within 30 days of allotment of shares to foreign investors. Foreign Direct Investment of up to 100% is allowed under the automatic route in most activities/sectors in India. Investment in activities / industries where automatic route is not available can be made with the approval of the Government under the Government Approved FDI method.

Procedure

We can incorporate a Private Limited Company in 30 to 60 days, subject to ROC processing time.

1. Obtaining DSC & DIN

Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Private Limited Company. DIN and DSC can be obtained for the proposed Directors within 3 to 4 days.

2. Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.

3. Company Incorporation

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

Specialist in providing Total Solutions for Business Set Up anywhere in India starting from setting up of business, incorporation/registration/formation of a company, Business Registrations, Approvals, Regulatory Compliances Advice on Entry and Exit strategy in and from India, Advice on FDI etc. Due to economic liberalization, starting, setting up and doing business in India is no more a hassle.