skype

+91 9643048125

info@consult4india.com

Friday, August 18, 2017
You are here : Company Registration Process

Company Registration Process

Registration Process

1.ONE PERSON COMPANY

a. 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.

b. 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

  • i. Pan card of proposed directors
  • ii. Address & identity Proof of Proposed Director
  • iii. Photo
  • iv. Address proof of the Registered Office of the Company
  • v. Sale Deed/lease agreement/Rent Deed

2. PRIVATE LIMITED COMPANY

  • a. Overview
  • b. Procedure
  • c. Documents Required

a. 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.

b. 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.

c. Documents Required

  • i. Pan card of proposed directors
  • ii. Address & identity Proof of Proposed Director
  • iii. Photo
  • iv. Address proof of the Registered Office of the Company
  • v. Sale Deed/lease agreement/Rent Deed

3. PUBLIC LIMITED COMPANY

  • a. Overview
  • b. Procedure
  • c. Documents Required

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.

b. 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.

c. Documents Required

  • i. Pan card of proposed directors
  • ii. Address & identity Proof of Proposed Director
  • iii. Photo
  • iv. Address proof of the Registered Office of the Company
  • v. Sale Deed/lease agreement/Rent Deed

3. Proprietorship

  • a. Overview
  • b. Procedure
  • c. Documents Required

a. Overview

If you want to start a new online or offline business, proprietorship is the best option for you. A sole proprietorship is an unincorporated business owned by one person. The owner of a sole proprietorship is known as a sole proprietor. You can start it the day you want it. When your business grows you can then turn it into an LLP or a Company.

As a sole proprietor, you can operate the business under your own name or under a trade/firm name or your website’s name. e.g. Let’s say you are an IT consultant, you can operate the business under your own name “Sumedh, IT Consultant” or under a trade/firm name “ABC IT Consultants”.

There is no mechanism provided by the Government of India for the registration or incorporation of a Proprietorship. Therefore, the existence of a proprietorship is established only by tax registrations and other business registrations that a Proprietorship is required to have as per the rules and regulations.

b. Procedure

We can help startup a Proprietorship in 7 to 14 days, subject to Government processing time.

1. Startup Consultation

Proprietorship’s do not have a process of incorporation. Therefore, our Business Advisers will advice you on the way the identity of the Proprietorship business can be established through other Government registrations.

2. Service Tax Registration

The identity of a Proprietorship can be established through Service Tax Registration (if applicable) mentioning the business name. Service tax registration takes 6 to 7 days, subject to Government processing time.

3. Vat Registration

An application is prepared and submitted in the required format, Officials from the Tax Department will process the application and verify the particulars presented in the application. Once the processing is completed, the Tax Department will issue a VAT Registration for your business in the form of a 11 digit unique number, which will serve as the VAT/TIN/CST Identity for your business.

D. Documents Required

  • i. Pan Card
  • ii. Address/Identity Proof
  • iii. Documents Required
  • iv. Photo
  • v. Adhar Card
  • vi. Address proof of Premises
  • vii. Rent Agreement/Lease Deed

2. PARTNERSHIP

  • a. Overview
  • b. Procedure
  • c. Documents Required

a. OVERVIEW

A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.

There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and we can help start a registered or un-registered Partnership firm in India.

b. PROCEDURE

We can startup a Partnership in 7 to 14 days.

1. Partnership Deed Drafting

We had a group of Financial Expert and we will first understand your business, Partners, Partnership structure and other relevant details to draft a Partnership Deed that is acceptable to all Partners.

2. Partnership Deed Registration

Based on your requirements we will help you to register the Partnership Deed with the relevant authorities to make the Partnership a Registered Partnership Firm.

3. Obtaining PAN & TAN

Based on the package you had selected, we will help you obtain PAN and TAN registration for your Partnership Firm from the relevant Authorities once the Partnership Firm is registered.

c. Documents Required

  • i. Pan Card of all the partners
  • ii. Address Proof and Identity Proof of all partners
  • iii. Address Proof of office & Lease Agreement
  • iv. 2 Photo of all the Partners

4. LIMITED LIABILITY PARTNERSHIP

  • a. Overview
  • b. Procedure
  • c. Documents Required

a.Overview

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner’s misconduct or negligence. Therefore, all partners have a form of limited liability for each individual’s protection within the partnership, similar to that of the shareholders of a corporation. However, unlike corporate shareholders, the partners have the right to manage the business directly. An LLP also limits the personal liability of a partner for the errors, omissions, incompetence, or negligence of the LLP’s employees or other agents. LLP is one of the easiest form of business to incorporate and manage.

b.Procedure

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

1. Obtaining DSC & DPIN

Digital Signature Certificate(DSC) and Designated Partner Identification Number(DPIN) is required for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners 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. LLP 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.

c. Documents Required

  • i. Pan card of proposed directors
  • ii. Address & identity Proof of Proposed Director
  • iii. Photo
  • iv. Address proof of the Registered Office of the Company

7. SECTION 8 COMPANY IE NOT FOR PROFIT COMPANY

  • a. Overview
  • b. Procedure
  • c. Documents Required

a. 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.

b. 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.

c. Documents Required

  • i. Pan card of proposed directors
  • ii. Address & identity Proof of Proposed Director
  • iii. Photo
  • iv. Address proof of the Registered Office of the Company
  • v. Sale Deed/lease agreement/Rent Deed

For Foreign Owner

 

  • a. Overview
  • b. Procedure

a. 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.

b. 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.