The procedure for incorporation of a company in India traditionally is complex and long. However, with the introduction of Form INC-29 by the MCA, the company registration procedure has been made easier.
This single integrated form brings several steps into one application and speeds up the company formation process. This article discusses the benefits of Form INC-29 and the steps to register a company.
What is Form INC-29?
Form INC-29 is an integrated incorporation form which compiles the steps of acquiring the DIN, name approval and incorporation application into one. This single-window clearance system makes company registration in India simpler and quicker. With fewer forms to complete and a shorter time for processing, Form INC-29 helps entrepreneurs get started fast.
Who May Make Use Of Form INC-29?
Different kinds of companies may use Form INC-29 for registering:
- Private Limited Company
- One Person Company
- Public Limited Company
- Producer Company
This form could be used to get the DIN for up to 3 directors, which is helpful for the start up and small business for pvt ltd business registration.
How to Register a Company Using INC 29?
This is how to register a company with INC 29:
Step 1: Get Digital Signature
Step one in the private limited company registration is obtaining a DSC for one of the proposed directors. The incorporation is done online and requires a Class III Digital Signature. This is available from certifying authorities appointed by the MCA.
The application along with a self attested copy of the PAN card and address proof is needed to apply for the Digital Signature – the Class III DSC application form. Documents must be not arise for NRIs and foreign nationals if in a non Commonwealth country and then apostilled for a Commonwealth nation.
Step 2: Check Availability of Company Name
Do the following checks:
- Check that the proposed name follows the format provided in the Companies Act, 2013.
- Verify that none of the subscribers uses the name of any proprietorship or partnership.
- Avoid including the name of any blood relative in the proposed name.
- Check whether the name needs approval from any sectoral regulators like RBI, SEBI etc.
- Verify the proposed name isn’t in conflict with any registered or filed trademarks.
Step 3: Drafting of MOA/AOA
After the proposed name has been approved by the MCA, the Memorandum of Association and Articles of Association has to be drafted. These documents establish the company’s scope and objective and its internal policies and regulations. The directors and subscribers must both attest to both AOA and MOA.
Step 4: Bring Required Documents
The following documents have to be created and signed by the directors and subscribers and annexed to Form INC-29:
- Memorandum of Association.
- Articles of Association
- Affidavit and declaration of first subscribers and directors
- Registered office address proof (Rental Agreement/Sale Deed).
- Copy utility bills that are not more than two months
Step 5: Filing Form INC-29
Online forms can be completed and filed on Form INC 29. Here is how:
– For Directors/Subscribers with a DIN: In the appropriate field enter the DIN.
– For Directors/ Subscribers without having a DIN: Include the DIN application in Form INC-29:
– Personal details, education & occupation.
– PAN number (for Indian nationals)
– Passport number (for foreign nationals).
– Email address.
– Address details.
– Proof of address (electricity bill, phone bill, cell phone bill or bank statement).
– Identity proof (Aadhar card, passport, driving licence or voter ID).
Ensure the form is meticulously filled, and the requisite ROC and stamp duty fees are paid electronically.
Step 6: Verification through ROC & Certificate of Incorporation Issuance
The documents will be verified by the ROC after submission. In case modifications are needed, the ROC will inform you. In case confirmed, the Certificate of Incorporation is delivered in seven to eight working days. The digital certificate is going to be emailed to directors.
Benefits of Using Form INC-29
These are the benefits of using Form INC 29:
1. Time Saving
Form INC-29 shortens time of company registration in India. It decreases the need for several applications and approvals by merging several steps into one form.
2. Single Window Clearance
The single-window clearance system of Form INC-29 simplifies the registration of a private limited company by combining the DIN application, name approval and incorporation in one step.
3. Reduced Documentation
The aggregation of different processes into one form leads to reduced documentation requirements and increased efficiency.
4. Cost-Effective
The simplified process of Form INC-29 brings down administrative and procedural costs, making it a cost effective option for company registration.
5. Convenient for Startups
Startups and small businesses seeking pvt ltd company registration can utilise the simplified and expedited procedure to concentrate on their business.
Conclusion
Form INC-29 is a step towards making company registration in India easier and quicker. It unites many steps into one form and offers a simpler way for entrepreneurs to get started a small business. Regardless of whether you have to register a private limited company, a public limited company, or a manufacturer company, Form INC-29 offers a quick path to getting your business up and running.
Utilising Form INC-29 for company registration consists of obtaining a digital signature and also checking availability of business name, drafting the MOA and AOA, preparing documents, filing Form INC-29, as well ROC verification. With its many advantages, Form INC-29 may be useful in filing a company registration in India.
If you’re an entrepreneur or a startup searching for an easy business registration in India then use Form INC 29 to get your business incorporation completed easily and quickly.
FAQs
1. What is Form INC-29 and how can it simplify company registration?
Form INC-29 is an integrated incorporation form introduced by the MCA in India. It simplifies the procedure of getting the Director Identification Number, title approval, and incorporation program into one application. This single window clearance system makes the company registration simpler and also quicker by lowering the number of documents to be filled and the time of processing. These simplified processes make Form INC-29 simpler and also quicker for entrepreneurs to start companies in India.
2. What documents do I have to submit with Form INC 29 to register my company?
The following documents are needed to file Form INC-29 for company registration:
1. Digital Signature Certificate for one of the proposed directors.
2. Memorandum of Association – Self-Attested.
3. Articles of Association – Self-Attested.
4. Affidavit and Declaration of the first subscribers and directors.
5. Rental Agreement/Sale Deed Registered Office Address Proof.
6. Copy of Utility Bills – Not older than 2 weeks.
7. Identity Proof and Address Proof for directors without DIN: – Indian nationals PAN Number.
– For foreign nationals: Passport Number.
– Address Proof Electricity Bill / Telephone Bill / Mobile Bill / Bank Statement.
– Identity Proof Aadhar Card / Passport / Driving License / Voter ID.
3. How long does it generally take to register a company using Form INC-29?
The typical time for registering a company by using Form INC 29 is 7 to eight working days, presuming everything would be in order and no discrepancies. The timeline consists of the Registrar of Companies verification of files and also the Certificate of Incorporation issue. In case any alterations or further details are required the time might be extended accordingly.
4. Any eligibility requirements and restrictions on using Form INC 29 to register a company?
The following kinds of companies may use Form INC-29 for registering
1. Private Limited Company
2. One Person Company
3. Public Limited Company
4. Producer Company
No other eligibility criteria or limitations besides those typically relevant to incorporating a company in India. Still, all directors and subscribers must satisfy regulatory and legal requirements including DSC and provide proof of address and ID.
5. What steps are involved in filing Form INC-29 for company incorporation?
The steps to file Form INC 29 for company incorporation are the following:
1. Get a Class III Digital Signature Certificate for among the proposed directors.
2. Check Availability of company name:
– Check that the proposed company name fulfils the naming requirements of the Companies Act, 2013.
– Check the name is unique and doesn’t conflict with existing companies, LLPs or registered trademarks.
3. Drafting of AOA and MOA:
– Draft the Memorandum of Association & Articles of Association.
– Both documents must be self attested by directors and subscribers.
4. Make Required Documents:
– Prepare required documents including MOA, affidavits, AOA, declarations & address proofs.
4. Fill out the necessary details on Form INC 29:
– For directors without DIN, include DIN application in Form INC-29.
– Complete all fields correctly and pay all appropriate ROC and stamp duty fees electronically.
6. Verification by ROC along with Issuance of Certificate of Incorporation:
– the ROC can confirm The posted documents.
– In case all goes smoothly, the Certificate of Incorporation is given within seven to eight working days and also emailed to the directors.
