India is currently among the countries whose business industry is growing at great pace. In such a situation every now and then business entities have been registered in India. The most preferred entity or we can say corporate body among the entrepreneurs is Private Limited Company Registration. This is because of the benefits or advantages such entities are associated with. They come up with certain kinds of companies which need to be filed on time. Corporate Bodies are trustworthy organizations which increase the credibility as well as reliability of the business in the market. The Ministry of Corporate Affairs incorporation process of corporate bodies is not a child play. It needs to be done carefully. Hence we suggest you take help of an expert while doing Ministry of Corporate Affairs incorporation in India.
What do you Mean by Corporate Bodies?
To comprehend corporate bodies, we must delve deep into company law and comprehend the concept of private companies. These are the companies that demand a minimum paid-up capital of a certain amount without which they cannot be formed. The paid up capital is different for different entities like for private limited companies it will be Rs. 1 lakh. Just like the minimum capital there are requirements of minimum directors for instance in case of private limited businesses, at least two directors are required. This company cannot be registered in India without a minimum number of directors. As a result, ensure that you have a minimum number of directors required or Ministry of Corporate Affairs incorporation . People like to register corporate bodies because of the numerous benefits such as dependability, reputation, consumer trust, and so on.
Process of Ministry of Corporate Affairs Incorporation in India
Key steps involved in registering a corporate body are:
Prerequisites of Ministry of Corporate Affairs Incorporation
- Do the proper market research about the business as well as the incorporation of the business
- Collect all the necessary documents in advance
- Choose a good professional for incorporating a corporate body on your behalf
- Don’t try to register your company by yourself if you are not knowledgeable about the same. It looks very simple but it’s not. Your small mistake can cause unnecessary delay or may be your application got rejected
- Choose a good name for the company which is as per the law and not already taken by any other third party
- Choose or select a location for your company’s registered address. Choose the location wisely because it matters when it comes to your business development.
Registration Process
- The very first step towards Ministry of Corporate Affairs incorporation is to file Form Spices Part A. This form is filed for the name approval of the company
- After filing this form you need to wait for 7-10 days. Within the mentioned time either your name will be approved or rejected. If the name got rejected you have to again file the application for the same
- Once the name is approved now you can move ahead with the next step that is filing Form Spice+ Part B. This form is for registering a corporation in India.
- Fill all the details in the mentioned form carefully
- Attach all the documents required for the same
- After completing the application check it twice
- Now submit the application with the required registration fees of the corporate body as per the requirement. It may vary state to state
- Once the application is filed now the Registrar of the Companies will verify your application
- If everything is found correct and as per the requirement they will register your company. But if they need anything more they will raise the query
- If the query is raised then the applicant has to file the answer of that query within the prescribed time otherwise application may get rejected
- When the applicant will file the answer of the query to ROC, that is the Registrar of Companies will again verify the same and if satisfied Certificate of Incorporation will be sent to you in your mail.
Post Requisites of Ministry of Corporate Affairs Incorporation
- Open the bank account of the company. It will be opened on the name of the company itself
- Obtain the PAN of the Company
- Obtain the TAN of the company
- Take MSME Registration on the name of your company
- In order to protect the intellectual properties of the company, take registration accordingly. It is not mandatory but you should complete it
- Must take GST registration if applicable on your company
- Make sure all the legal compliances of your company will be done on time
Documents Required for Incorporating Corporate Bodies
Some of the key documents without which one cannot do corporate bodies incorporation are:
- Identity proof with the proper address proof of the directors of the company
- Identity as well as address proof of the shareholders of the company
- Registered business address proof of the company will be required
- For the proof of the registered address you can provide utility bills but if the office is on rent then rent agreement will work
- MOA as well as AOA of the company will there with you
- DSC of all the directors of the company
- DIN of all the directors of the company will be there with you
- Name, contact detail, email id as well as phone number of all the directors should be there with you
- Bank statement details of the directors is required
Conclusion
The Ministry of Corporate Affairs incorporation in India takes a lot of effort. It is really important to file the correct application before the registrar of the companies at the very first time. If you are not having proper knowledge about the same, do not attempt to do registration of the company on your own. Also do not fall into the trap of the people who say we will register your company for Rs. 999. It is the biggest fraud going on in the market. They will surely take from you an extra amount after that because in this amount a company registration is not possible. Hence be careful and choose a professional wisely. For the little amount of money, don’t risk your business which must be very important for you. In case you want to know more about the Ministry of Corporate Affairs incorporation , you can contact us.
