Company registration includes the process of navigating legal procedures and other regulatory procedures to establish the entity further and expand the business. It also requires the other business advisors to further enhance compliance and set up an entity. Each country requires further jurisdiction and has the process of registration so it also has to follow the regular guidelines accordingly. The present blog will discuss about the Pvt Ltd Company Registration process in detail after which it will become very easy for you to understand the basics of the private company registration in India.
Understanding of Private Limited Company Registration
The process of registration requires the entity to stand separate from its owners which also requires several shareholders and the process of registration the governance is made in compliance with the rules and regulations. There are several processes which involve the registration of the company. The drafting of MOA and AOA which refines the company constitution and the scope of activities. It also includes other forms of documents for the registration of companies.
Process of Registration of Private Limited Company in India
The registration of a Private Limited Company (Pvt. Ltd.) in India includes several steps which are given below:
- To obtain a Digital Signature Certificate:
The certificate of Digital signature must be obtained towards the directors and stakeholders and further sign the documents digitally. DSC can be obtained by filing an application form and submitting it to the regulating authorities with the address and identity proof.
- Obtaining a Director Identification Number(DIN):
An online application is filled out via Form DIR-3 on the website of MCA(Ministry of Corporate Affairs) with the necessary proofs and documents. Each director needs to have a unique DIN.
- Approval of Company Name:
A unique company name that adheres to MCA guidelines is required. This is done by filling out a Reserve Unique Name(run) form in the MCA portal.
- To prepare documents for incorporation:
Documents like MoA (Memorandum of Association), AoA (Articles of Association), Form INC-32 (SPICe), Form INC-33 (e-MoA), Form INC-34 (e-AoA), Form INC-9 and Form DIR-2 have to be prepared.
- Filing for Company Incorporation:
The procedure of filing for incorporation is by filing the INC-33(e-MoA), INC-32(SPICe) and INC-34(e-AoA) in the MCA portal. Other documents like identity proof, address proof and NOC from the owner are also uploaded.
- Fee payment:
The registration fee is paid and the amount to be paid depends on the sanctioned capital of the company.
- Incorporation Certificate is Obtained:
The Registrar of Companies (RoC) issues the incorporation certificate which consists of CIN only if it is satisfied with the forms and attached documents.
- Post Registration Compliances:
Applying for TAN and PAN, opening a bank account, registration for GST and Other registrations depending on the type of business
Process of Applying for the Name Approval of the Company
The MCA portal is used to apply for a unique company name during the registration process. This involves the following steps:
- Visit the MCA portal online and log in to the portal
- Click on MCA services and select the Reserve Unique Name or the RUN service.
- Fill and submit the RUN form
- Check the availability of the suggested name in the free feature “Company Name Search” before submitting the form.
- Attach the supportive documents if required
- Pay the required fees for the reservation of the name.
- Submission of the RUN form
- One can receive the approval notification through an email if the name is approved.
What is the SPICe+ Form and Why is it Important?
SPICe+ or (Simplified Proforma for Incorporating Company Electronically Plus) is an advanced version of existing SPICe that can fulfill requirements like:
- Incorporation
- Name reservation
- DIN allotment
- TAN
- Compulsory issue of PAN
- ESIC
- EPFO
- Opening of bank account
- Profession Tax(Maharashtra)
SPICe+ aims to provide about ten services to one state government that is the Government of Maharashtra and the other three which are the Ministry of Labour, the Ministry of Corporate Affairs and the Department of Revenue in the Ministry of Finance. This is a single window in the form of an integrated web for multiple services.
SPICe+ is important as it makes incorporation easier during the registration of the company, and helps in determining the important details like:
- Capital structure
- Type of company
- Registered office address
- Other important information
Documents for the Registration of Private Company in India
The following are the documents that need to be prepared and submitted for incorporation of a company in India:
- Digital Signature Certificate(DSC)
- Director’s Identification Number(DIN)
- Name Approval
- Minimum Paid-up Capital
- Minimum Members Requirement
- Memorandum of Association
- Articles of Association
- Submission of Prospectus
- Consent of the Directors
- NOC(No Objection Certificate) from Landlord
- Other documents like identity proof, passport photographs, address proof, PAN of directors and shareholders and utility bills.
Conclusion
The private limited company registration is a crucial step towards any venture and provides a properly structured and legally recognised business. To comply with necessary legal procedures and also to maintain compliance with ongoing requirements by which one can establish a strong and reputable business. This not only protects assets but also secures a position for growth and success in a competitive market. “With the right approach and resources”, private company registration can be a (seamless process that sets the stage for long-term business achievements).
FAQs
- Why is it necessary to do private Limited company registration?
Private Limited company registration is a (significant step that can provide numerous advantages, including limited liability, tax benefits, and an enhanced ability to raise capital). The process, while straightforward, requires “careful planning as well as compliance with key legal needs to ensure a smooth setup and operation”.
- What is the SPICe+ form?
SPICe+ or Simplified Proforma for Incorporating Company Electronically Plus is an updated or we can say advance version of the already existing SPICe which is capable of helping with multiple needs and requirements like incorporation, name reservation, DIN allotment, TAN, compulsory issue of PAN, ESIC, EPFO, Opening of bank account, and Profession Tax(Maharashtra).
- What are the steps involved in the registration of a private company?
The registration of a private limited company in India involves several steps which include getting necessary digital signatures, reserving a unique company name, securing a director identification number and filing the documents for incorporation of the company or business.
- What is the procedure for filing company incorporation?
Filing for Company Incorporation: The procedure of filing for incorporation is by filing the INC-33(e-MoA), INC-32(SPICe) and the INC-34(e-AoA) in the MCA portal. The supporting documents like identity proof, address proof and NOC from the owner are also uploaded.
- What are the essential documents for company registration?
Preparation of Incorporation Documents: Documents like MoA(Memorandum of Association), AoA (Articles of Association), Form INC-32(SPICe), Form INC-33(e-MoA), Form INC-34(e-AoA), Form INC-9 and Form DIR-2 has to be prepared.
