Online Company Registration Process In India

Online Company Registration Process In India

ONLINE COMPANY REGISTRATION IN THE INDIA

Here we are going to tell you how we will set up or Register a Company /business in India. Before going further we need to know that business idea doesn’t mean success but having a great business idea which is going to solve the problem of consumer or problem-solving product.

As on date, every business wants its online presence in a fast-changing world or competitive world.

Let us take an example :- A small vendor opens its business shop in the city/town and sells the products/services to a consumer who visits his shop. The business has a low geographical area to sell its product & he wants to expand his Business then he needs to list his business on the Internet or Online Platform.

Here the role of a Company comes in the Picture. The person wants a business Structure which provides him with the benefits of Limited Liability & Separate legal entity etc.

So, here we going to discuss how to Register private Company in India & get a relevant license from the government authorities.

Private Company Registration In India is a long process and take around 12 working days if all the documents are prepared & file with relevant government Authorities (MCAs).

ADVANTAGES OF PRIVATE COMPANY REGISTRATION IN INDIA.

1. Separate Legal Entity (The company is distinguished from its members, Directors & Subscribers except in case of Fraud or Misrepresentation)

2. Registered with Central Government (The company registered with ROCs & MCA (Central government)

3. Transference, Scalability & Mobility in the Business

4. Legal Status.

5. “Private Limited” is used at the end of the company name.

6. Perpetual Succession.

7. Limited Liability of the members.

8. Business Credibility /Fundraising.

9. Brand Value.

10. Expansion Of Business.

11. Invite FDI (Foreign Direct Investment).

MINIMUM REQUIREMENT FOR PRIVATE COMPANY REGISTRATION

1. Name of the Company

2. Minimum 2 Members.

3. Minimum 2 Directors (Only Natural person i.e. Ram).

4. The authorised capital of Minimum 1 Lakh.

5. No minimum requirement of Paid-up Capital.

6. Minimum 1 Director is Resident of India.

7. All Directors have a DIN (Director Identification Number).

8. The company have a Business Objective.

PROCESS OF COMPANY REGISTRATION

1. Application For Digital Signature

Every person (Directors, Members & Subscribers) who is going to Incorporate a company is required to have Digital signature which attached by the person in the application form for Company Registration.

2. Application for Allotment of DIN In Form DIR-3

The person who wants to become a Director of the company has a prerequisite requirement of having Director Identification Number (DIN) & Without DIN no. a person cannot appoint as Director. The Director of the company is always a natural person (Like Ram, Shyam etc) not Artifical person (Like HUF, Company, Trust etc).

3. Application for Name approval

The person required to have a Unique Company name before Incorporation & application is made in RUN (Reserve Unique Name) form with MCA (Ministry of Corporate Affair) portal with the fees of Rs. 1000/-

Preparation of the following documents of Directors, Members & Subscribers are:-

1. Attestation of Identity proof (Driving License or Passport or Voter ID);

2. Notarization of Identity proof;

3. Attestation of Address proof (Mobile Bill or Electricity bill or Bank Statement);

4. Notarization of Address proof;

5. Consent of Directors in DIR – 2;

6. Attestation & Notarization of Company Registered office documents;

7. Affidavit & Undertaking of Directors & Members;

8. Undertaking from practising CS/CA/CWA.

Preparation of Memorandum of Association (MOA)

1. The MOA is very important documents for registration of the company and its also known as the Constitution of Company or Bye-laws.

2. The MOA contains the Company Name clause, Registered office clause, Liability Clause, Share capital clause & Subscriber clause.

3. The MOA of the company is prepared in the Spice form -33 & digitally signed by the Subscribers of the company and practising CS/CA/CWA.

Preparation of Articles of Association (AOA)

1. The Company AOA contains the internal rules & regulation related to company day to day working, contract, appointment, payment, employee & resolution etc.

2. The Spice form – 34 is used for the preparation of AOA and digitally signed by the Subscribers of the company and practising CS/CA/CWA.

Preparation of E form Spice 32 & Insert the following Details are : –

1. The Company, Directors, Members & Subscribers.

2. Paid-up capital.

3. Authorised share capital

4. Shareholding ratio

5. DIN no.

6. The registered office of the company.

7. Attached the Identity proof & Address proof of Directors, Members & Subscribers.

8. Attached the Undertaking of Practising CS/CA/CWA & Undertaking of all the Directors, Members & Subscribers.

9. Attached the Consent of Directors.

10. Digital Certification by Practising CS/CA/CWA & Director.

Filing of Form Spice 32 (Application for Company Registration)

1. The Spice – 32 files with ROCs (Registrar of Companies) along with Spice form -33 (MOA) & 34 (AOA).

2. This Spice form is Digitally signed by the Director of the company & practising CS/CA/CWA.

3. The company can be made an application for PAN, TAN & GST registration along with the application of company registration.

Issuance of Incorporation Certificate

The MCA registered the company after verification of all the documents & Issued the following documents are : –

• CIN (Certificate of Incorporation);
• PAN card;
• TAN Registration &
• GST registration certificate.

DOCUMENTS REQUIRED FOR COMPANY REGISTRATION

Documents of Directors & Members

• Passport Size Photo.
• Identity Proof (Driving License or Passport or Voter ID).
• Address Proof (Mobile Bill or Electricity bill or Bank Statement).
• PAN Card (Mandatory).
• Passport is mandatory for Foreign National or Non-Resident India (NRI).
• Aadhar Card.
• Mobile No.
• Email Id.
• Qualification.
• Occupation.

Documents of Company

• Name of the Company.
• Business Objective (A company registration is done for only one objective).
• Authorized Share Capital.
• Paid Up Capital.
• Registered Office of the Company (Property Owned (Sale Deed or Electricity Bill) OR Property Rented ( Rent Agreement).

After Incorporation or Registration of the company is required to do Post Incorporation Compliances.

This Article is contributed by Mr. Gaurav Yadav founder of Estellaconsultancy.com & provide the services related to Company Registration, Fssai, ESI & PF, MSME/SSI, Trademark, Accounting, Book Keeping, GST Related Services, Listing, Delisting, RBI, FEMA, Foreign company entry in India and Secretarial Audit etc.

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