By registering a company start-ups enjoy various benefits as it offers them an advantage over those who have not registered. The process of registering a company may be complex for some as it involves different compliances.
Below we have discussed the process of company registration:
- Application for DSC (Digital Signature Certification)
The first step in making an application for company registration is applying for a Digital Signature Certificate (DSC). A digital signature certificate is a legal document which is used for verification of information. Usually the digital signature certificate is used for signing some electronic documentation. Hence, when incorporating a company, remember to apply for the DSC with the Ministry of Corporate Affairs (MCA).
- Application for DIN ( Director Identification Number)
Once you have applied for the DSC, it is crucial to apply for the director identification number also known as DIN. DIN would indicate that all compliances have been met by the company when recruiting a director. The applicant for company registration has to apply for the director identification number for the company.
- Name Availability of Company
Next step is to check the company name. This process is mandatory under company registration. When you check the name of the company, the portal will intimate you if the name is already chosen and if it goes against any provisions of intellectual property law in force in India. Checking the name availability of the company can be carried out online on the MCA portal.
- Filing Memorandum of Association and Articles of Association Online
The applicant for company registration has to file documents such as the memorandum of association and articles of association online. Filing these documents would provide legal certainty of formation of the company. This process must be carried out through the Ministry of Corporate Affairs Portal.
- Application for PAN and TAN
After all filings are complete, the applicant must consider applying for securing a PAN and TAN number.
- Certificate of Incorporation
Once the above process is over, the MCA and ROC will review the application and if there are no issues, then a certificate of incorporation would be granted to the applicant. The certificate of incorporation is a legal document which provides some form of legal status to the company.
Online Company Registration: Documents required
There are certain essential documents that are required for the registration process. They are as follows:
- Copy of PAN Card or Passport of directors (Foreign Nationals &NRIs)
- 2 Passport size photographs of directors of the company
- ID proof such as Aadhaar Card or Voter identity card of directors
- Copy of address proof rent agreement or property papers
- Electricity or Water bill of company place
- Landlord NOC in case of rented office
- In the case of personal property, a copy of sale deed or property deed
- For foreign nationals, a notarized copy of the passport must be submitted mandatorily. Only valid documents need to be submitted. The residence proof documents like a bank statement or electricity bill must be less than two months old.
- Registered Office Proof
Note- To get company registration in India, the company must have a registered office. In order to prove the functionality of the registered office, a recent copy of the electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill, or the sales deed and a letter from the landlord with her/his consent to be used to register the particular address as the registered office.
Recent updates- Company Registration
- Mar 9, 2020- SPICEe+ Form requires Mandatory Registration of EPFO & ESIC After the introduction of SPICe+ (e-form) for incorporation of company, registrations for EPFO and ESIC shall be mandatory for all the registered organizations, and none shall be separately issued by the respective agencies.
- Mar 06, 2020- Company Registration must be done in a new MCA portal A Public, Private, and one person company registration in the EPFO, ESIC will be done on the new MCA portal. It simplifies the registration process by using a new web form SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus), integrating ten services from various departments.
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Frequently Asked Questions
Is company registration process online or offline?
The process of company registration is completely an online process. Prior before the introduction of the Companies Act 2013, this process was both an online and offline process. However the government have made this process more online with a view of making India digital.
What is the difference between Articles of Association and Memorandum of Association?
AOA or Articles of Association represent the bye laws of the company. They state what the company can do and what the company cannot do. Memorandum of Association (MOA) represents the objects of the company. For example, if a company is formed to carry out only respective activities, then the company should only carry out those activities.
Is a physical premises required for the Company?
Yes a physical premise is required for the company. This is required as all forms of liaising with the company will occur with different government officials. Apart from this, when the company has to file tax returns then the same will be considered.
How long will registering a private limited company take in India?
Though the process of registering a private limited company in India is online it may take about 2 weeks (14 working) days to have your company fully registered.
Which rules would apply to the name of the company?
The provisions of the Companies Act, 2013 will be applicable to choosing a suitable name of the company. The name of the company must be in accordance to the objects of the memorandum of association.
What is the difference between the DSC and the DIN?
DSC stands for digital signature certificate. It is a certificate which is used when documents are submitted electronically. Making e-signatures is simplified using a DSC. DIN is the director identification number. Usually this number is provided at the time of appointing a director. However, when the certificate of incorporation is provided then through the SPICe form this is allocated.
is that any renewal required for the certificate of Incorporation for a private limited company?
No, there is no expiration date of the certificate of incorporation for a private limited company. Once the certificate is issued, the company continues to carry out business until and unless it is closed or deregistered.
Can a foreigner or NRI become a director of a private limited company?
Yes a foreigner or NRI can become a director of a private limited company. There is no requirement for the company to take any form of official consent.
What are the compliances which have to be followed by a private limited company?
Some of the compliances which have to be adhered by a private limited company are:
1. Auditor Appointment.
2. Convene AGM.
3. Income Tax Return filing.
4. Filing of Annual Return and financial statements etc.
How can the name of the company be protected?
The name of the company can be protected by applying for a trademark and a copyright respectively. This can be obtained through the IP office in India.
How to Check Company Registration?
Company registration can be checked on the MCA portal. This process can be done online through the following link http://www.mca.gov.in/mcafoportal/showCheckCompanyName.do .
How to Check Company Registration in SEBI?
It is only possible to check entities which are registered with SEBI, if the entity has its shares registered in a particular stock exchange.
How to Check Indian Company Registration?
The process to check Indian company registration can be done online through the MCA portal.
How to Check Company Registration through MCA?
The process of company registration can be checked through the MCA portal. The status of the company would be displayed in the portal.
What are the Types of Company Registration?
The following are the types of company registration:
Private Limited Company
Public Limited Company
One Person Company