Registration Process Of A Company In India
Do you want to start a business in India? Are you knowledgeable about India company incorporation or the company registration process they have? Nothing is better than nobody bossing you around, and you will achieve that once you get your company up and running legally.
Registering a company in India also means to incorporate a company or form a business. Your business also becomes more presentable when you register it because you are legally running it under the law. People will feel more confident to do business with you because your business is registered.
Here is the information you need:
Director Identification Number (DIN) Application
This is what you must do first if you want to start the company registration process. The company directors must acquire this before they can move forward with the registration.
A DIN has eight digits and it is unique. It is issued under the Companies Act section 153. A director must give their full name, father’s name, birth date, identity proof, proof of address, a copy of their PAN card, and two photographs of all directors.
The application form can be found online on the Ministry of Corporate affairs (MCA Website) as a DIN-1 Form. Business owners must register at the MCA Website and get a login ID.
The DIN-1 Form have to be filled out and uploaded after paying the fees. The DIN application form costs INR 100 and it takes a day to execute.
Getting Digital Signatures
A director must send an application for a Digital Signature Certificate (DSC), and this is important in filing then registration documents of the company. It will only take scanning a few documents and any required details. At least one director must sign the forms that relate to incorporatizn life form INC-1, as well as other documents.
Check The Availability Of The Name You Chose
You must select, based on the order of preference, a couple of appropriate names, less than four, which indicates a company’s main objects. Make sure that the name you chose is unique and not like another company’s name that is already registered, and does not violate the Emblems and names Act, 1950.
File A New User Registration
It is vital that you register on the portal of MCA. You must create a user account to file an eForm, carrying out various transactions and paying prescribed fees. You do not need to pay a fee at the Ministry of Corporate Affairs when you create an account.
Charter Documents Filing
In the process of a company registration, the applicants must create charter documents such as the Memorandum of Association (MOA) and Articles of Association (AOA).
The MOA has all details of a company’s registration that are required during the process of incorporation. It provides details when it comes to the objectives and powers of a company and the relationship between the company and outsider. When the MOA is created, there is no way of reverting it.
The AOA indicates the rules and regulations the company has. It gives details about its management, conduct, and the bye-laws that govern the company’s internal affairs. The AOA is an auxiliary to the MOA, but it can be reverted if necessary.
Name Availability Application
You must ascertain the availability of a name by applying to the concerned ROC in INC-1 of General Rules and Forms for a fee. If the name you proposed is unavailable, you must apply for a new name using the same application. Your DSC must be attached to the form. The MCA has specific rules for the name availability, so you must check the guidelines for the name before applying. Take note of rule-8 of companies (incorporation) rules, 2014.
Once the name has been approved, the ROC is going to give a Name availability Letter w.r.t. approval for the name availability. The name has a validity of 60 days from the day you reserved. You can apply to register your new company when you file the important forms INC-1 within six months since the name was approved.
Documents Required For Filing
- INC-8 Professional Declaration
- Affidavit granted by the subscriber to a Memorandum using Form no. INC-9
- Proof of residence
- Proof of identity
- Subscribers signature verification in form INC-10
- A copy of the letter from the Registrar of Companies indicating that the company name is available
- E-Form 1 for company incorporation
- Proof of payment of the registration and filing fee
- Pay the forms and stamp duty fees
- The forms and attachments will be verified by the ROC
Once the registrar has said that all requirements have been completed, the certificate of incorporation will be issued. The date in the certificate is the company’s incorporation date
The registration process of a company in India may seem tedious but 3E Accounting India can help you go through them and complete each one without any delays or hassles.