A new corporation or business is formed by incorporation. The corporation may be a startup, a micro, small, or medium-sized company, a for-profit organization, or a business. Through the Companies Act, 1956, 2013 and other related Acts, Bills, and Rules, MCA controls corporate affairs in India. Additionally, MCA delivers numerous crucial services to stakeholders while safeguarding investment. Searching for a Private Limited Company Registration Form for your business? It is challenging to register your business because the process is convoluted and requires several compliances. Therefore, we will outline the steps involved in forming a company in this article. You can use our professional service rather than reading through the complete Company Registration Procedure.
Steps for Company Registration
1) Get a DSC (Digital Signature): The filing of the Company formation documents requires digital signatures. The entire Company registration process is done online, and the forms need to be digitally signed. DSC is required by the Memorandum of Association (MOA) and Articles of Association (AOA) for all subscribers and witnesses. You must receive the digital signature certifications from certifying authorities that are approved by the government. Depending on the certification authority, DSC varies in price. You must obtain DSC in the class 3 category.
2) Apply for a Director Identification Number (DIN): A director’s DIN serves as an identification number. Anyone who wishes to serve as a director in a firm must obtain it. There are various ways to obtain a DIN, which is required to serve as a director identification number of businesses:
Option 1: Submit form DIR-3: This form is necessary if you want to be a director of an existing firm. The prospective director’s basic information, identity documentation such a PAN or an Aadhaar card, and proof of address were all required on this form.
Option 2: SPICE+ INC 32: If SPICe+ INC 32 requests a DIN and those requested directors who do not already have one are approved, A maximum of three directors may apply for DIN using this SPICe+ INC 32 filing procedure.
Option 3: Legalraasta: Go to our website link and ask a Legalraasta specialist to get you a DIN. There is no need to apply for a DIN separately if you Register your Company with Legalraasta.
3)Name Approval: There are several ways to obtain name approval, including:
Option 1: Using Part-A of the SPICE+ Form to reserve the name: The Ministry of Corporate Affairs (MCA) has launched the SPICE+ web tool for the incorporation of a company in an effort to simplify processes for both new and existing companies. When reserving Unique Names for the Companies, Part-A of the SPICE+ form provides for “name reservation” with two proposed names and one re-submission.The applicant must re-file another SPICE+ form with the required cost in the event that the name is rejected owing to any name similarity to that of an existing, registered company. After the name has been approved, it will be held in reserve for 20 days, during which time the firm must move through with incorporation by submitting Part-B of the SPICe+ form.
Option 2: Name approval by jointly submitting Parts A and B of the SPICE+ Form: When registering a company, you can submit an application for the desired name along with the application for incorporation. The SPICE+’s Part-B allows for incorporation application submission. The SPICE+ form offers integrated applications for incorporation and name approval, just like the prior SPICE form. That means only one name can be applied to this form, and the SPICE+ Part-A and Part-B can be submitted simultaneously.
If a combined application is rejected because the name was not approved, the applicant will be given a second chance to complete the identical SPICE+ form without paying any additional fees. It indicates that you have two chances to submit the identical form without having to pay an additional Rs. 1000 each time. The “name applied for” or “application number” link available on the user’s dashboard can be used to submit the SPICE+ form again.
If the name is not authorized in the second attempt, you can start the SPICE form over from scratch. This will consistently turn out to be less expensive than selecting the first choice. It takes about two to three days to complete the entire company registration process, including name approval and incorporation.
4) Form SPICE+ INC-32: For the registration of new companies, the MCA has developed Form SPICE+. Part-B of the SPICE+ form is also web-based and speeds up the creation of businesses.
Following name approval, the applicant can proceed with incorporation by clicking the link for the accepted name. The new SPICE+ form makes incorporation simple and rapid by allowing web-based entries and real-time data checking. The information entered in SPICE+ Parts A and B will automatically be entered in the associated forms AGILE-PRO, eAoA, eMoA, URC1, and INC-9. After completing the SPICE+ form, the user must additionally download the document in PDF format and attach the DSC to the document to digitally sign it. Form INC-32 must be filed with a professional’s digital signature. The expert, who may be a Chartered Accountant, Company Secretary, Cost Accountant, or attorney, must attest that all the information provided in the form is accurate.
Several forms had to be completed as part of the business registration procedure, including the INC-1 for obtaining a name, the DIR-3 for obtaining the Director Identification Number (DIN), the INC-7 for registering the company with the Memorandum and Articles of Association, the INC-22 for the Registered Office, and the Form DIR-12 for the Directors. All of these forms have since been combined into the SPICE+ form, and the RUN service is now only used to alter existing names. The SPICE+ form is the only option for company incorporation. There are no ROC costs for company incorporations up to 10 due to a lack of approved capital.
Step 5: e-AoA and e-MoA INC-33 INC-34: The terms “e-MoA” and “eAoA” stand for electronic memorandums of association and articles of association, respectively. The introduction of these forms has made the process of registering a corporation in India simpler. While the articles of association include the company’s internal rules and regulations, the memorandum symbolizes the company’s charter. The Memorandum and Articles of Association’s subscribers must digitally sign both of these forms.
Step 6: Certificate issuance: You can also apply for your company’s PAN and TAN using this single SPICE+ form. Following the submission of the SPICe+ form, the system will automatically produce these forms. After the SPICE+ Form has been approved, the PLC’s Certificate of Incorporation is issued along with the PAN that the Income Tax Department has assigned. The MCA will email the PAN, TAN, and Certificate of Incorporation to you. The PAN card will be issued by the Income Tax Department. The MCA will authorise the registration and assign a CIN (Corporate Identity Number) if all the information on the form is correctly filled out and accompanied by the necessary documentation for business registration in India. On the MCA site, you may also track this CIN online.
Conclusion
In India, everyone aspires to create their own business. The result is that companies can be registered in India. By formally forming a corporation, you can launch your firm and receive government support as well as a growing infrastructure. One of the finest ways to launch a company in India is to form a private limited company. Now that you know how to register your corporation online for your business, we hope this blog will be helpful to you. Make a list of creative company names, choose one that best reflects your concept, and then register your business under that name. If you want to establish a business and are an ambitious entrepreneur, look no further! With the aid of Legalraasta, you can also register a corporation online while relaxing in your own home. Thousands of firms have received startup assistance from our experts. Give us a call right away to speak with one of our professionals about company registration if you need assistance with original company name options.
