Introduction to Doing Business in Mumbai
Mumbai, the acclaimed financial capital of the country is known for its fast-paced culture. Mumbai is a dream city to work for many individuals and many leave their hometowns and come to Mumbai to kick-start the growth of career. This is the reason the city also fondly called “the city of dreams”. Mumbai ranks number as 3rd best city in India for resolving insolvency and trading across borders subcategories of ease of doing business rankings. Overall Mumbai city ranks as the 12th best city in the ease of starting a business. A large contributor to this is the ease and simplicity of Private Limited Company registration in Mumbai. This also serves as a great motivation to start your business in Mumbai.
What is a Private Limited Company?
A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares limits the number of shareholders to 50 and restricts shareholders from publicly trading shares.
The Ministry of Corporate Affairs is also making great progress towards cutting down on the processing time of company registration application. A provision of One-Day Company Incorporation with SPICe has been introduced to make the process of company registration less tedious and hassle-free. You can also look at how much does it cost to start and run a private limited company.
Pre-requisites for Private Limited Company Registration in Mumbai
- 2 Directors
- 2 Shareholders
- Registered Office Address (Residential/ Non-Residential)
Process for Private Limited Company Registration in Mumbai
- Apply for Digital Signature Certificate (DSC).
- Apply for Director Identification Number (DIN)
- Get the Name Approval with Registrar of Companies (ROC), Mumbai.Check out the address for your ROC here.
- Register with the new SPICe INC-32 forms
- Aquire Registration Certificate.
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration and Affidavit by directors and first subscribers
- Proof of Office Address
- Utilities Bills’ Copy not more than 2 months old (Electricity, Gas, Water Bills etc.)
- Copy of approval if the proposed name is containing words/expressions which need authorization by the Central government
- In case of proposed name based upon a registered trademark then it is mandatory to attach trademark registration certificate or trademark application copy
- NOC from sole proprietors partners /associates/ existing company
- Proof of identity and residential address of subscribers.
- Proof of identity and residential address of directors.
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