Company or business registration provides a formal recognition to a business entity. It gives businesses a legal standing with a unique identity. Registering a company also increases the credibility of a business and makes it more trustworthy. It also helps attract capital from external sources like banks, investors, and incubators for the expansion of a business.
What are the documents required for company registration?
Company registration is a formal process that requires a set of valid documents to get it completed successfully.
Several documents are required in the process of company registration. Those documents are;
Documents Required for Identity Verification
Permanent Account Number (PAN) Card of Directors and Shareholders
Identity Proof of Directors & Shareholders (Any one of the following):
- Aadhaar Card
- Passport
- Driving License
- Voter Identity Card
Documents required for Address Verification of Directors & Shareholders
- Telephone Bill/Mobile Bill
- Electricity Bill/Water Bill
- Bank Statement (not more than 2 months old)
Verification of Registered Office Address
- No Objection Certificate (NOC) from the property owner
- Any Utility bill (Telephone/Mobile bill, Electricity bill, Water bill)
Passport-sized Photographs of Directors (3 each)
What are the minimum requirements for Company registration?
In order to register a company, it's necessary to meet the minimum requirement or eligibility. For company registration, the minimum requirement includes;
- At least 2 Shareholders
A private limited company must have at least 2 shareholders, and a maximum number of 200. Individuals or Corporate entities (Indian or Foreign Origin) can be shareholders in a company.
- At least 2 Directors
There should be at least two directors in a private company while at least 3 directors are required in a public company. Additionally, at least one director in a private limited company must be a resident of India.
- A Unique & Valid Company Name
To register a company online, it is an important requirement to have a unique & suitable company name approved by ROC.
- A Registered Company Address
There must be a registered office of a company as per section 12 of the Companies Act, 2013.
If the aforementioned documents & eligibility requirements are met, you are all set to undergo the company registration process in India.
What procedures are required to follow for company registration?
In order to promote businesses & startup ecosystem, the company registration process has been eased by making it totally online.
Step 1- Acquire Digital Signature Certificates (DSC)
It’s important to acquire Digital Signature Certificates (DSC) for the proposed directors or members as these certificates are required to be submitted while filling out the registration application. DSC can be obtained from government-certified agencies/officials.
Step 2- Get a Director Identification Number (DIN)
The next step is to obtain a Director Identification Number (DIN) which is a unique number. According to the Companies Amendment Act 2006, DIN is required for individuals who are proposed as directors of a company in India.
The DIN of all proposed directors of the company with their name & address proof are to be submitted while filling out the company registration form online. It can be obtained by filing the SPICe+ form. SPICe+ is an online registration form by which DIN can be obtained for a maximum of 3 directors.
Step 3- Registration on MCA Portal
Post acquiring the necessary documents for online company registration, apply for the company registration by filling out the SPICe+ form and submitting it through the Ministry of Corporate Affairs (MCA) website. After filling out all the required details and attaching documents, submit the incorporation application.
Step 4- Acquiring Certificate of Incorporation
Once the incorporation application is submitted properly with all the needed documents, the Registrar of Companies will deeply check the entire application to verify the details provided and the documents submitted. Upon successful verification, the Certificate of Incorporation is issued to the company.
Along with the Certificate of Incorporation, PAN and TAN of the company are also provided to carry out company operations smoothly.
A few post-incorporation formalities are also required to follow if you want to grow your business smoothly without getting entangled in compliance requirements. Hiring a qualified CS/CA or a compliance service-providing company can assist you in getting your company registration done in a simple, hassle-free, and cost-efficient manner.
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