Are you planning to incorporate your company in India? If yes, you should be aware of the incorporation process in India. Anyone cannot start a company after obtaining the required permission from the government. The Ministry of Corporate Affairs (MCA) is responsible for registering companies legally within the country. Most entrepreneurs find the incorporation process complex. For the same reason, they delay the incorporation of companies. However, an individual can search for company incorporation services and get the job done. The incorporation process becomes simple when one has the right guidance.
Read on to understand more about the company incorporation process in India.
Submitting the SPICe+ form to MCA
The SPICe+ form is submitted to the MCA to incorporate a corporate entity. Part ‘A’ of the application form is submitted first by the business owner. The form is concerned with reserving the company’s proposed name. Two proposed company names are forwarded by the business owner(s). Sometimes, the proposed company names are already taken by pre-existing companies. In such a case, the business owner must obtain a NOC (No Objection Certificate) from the pre-existing owner. When the previous owner does not provide the NOC, the owner must propose a different name to the MCA.
Once the company name is reserved, the business owner must submit the Part B of the SPICe+ form. Part B is the actual incorporation application form for companies. The rule says the incorporation application must be submitted within 20 days of company name reservation. The incorporation application will include director details, declarations from directors, and other company details. Once the application is submitted, the MCA will cross-check all the details. After checking the company details, MCA will issue a certificate of incorporation for the respective company. The certificate of incorporation gives legal permission to the company to start operations. Within 15 days of the incorporation certificate, the business owner must submit proof of official company space.
Registering a company with MCA online
A ROC (Registrar of Companies) is appointed in every state to incorporate corporate entities. Business owners must submit their application forms to the nearest incorporation office. They will have to carry a pile of papers to the office for company registration. However, they can register a company online via the MCA portal. It will save time and effort to incorporate a company in India. A third-party offering company incorporation services will help business owners with online registration.
Documents required for company registration in India
Numerous documents are required for registering a company in India, from the e-signature of the director(s) to office address proof. Business owners also have to submit identity and address proofs for company registration. Along with the incorporation application, declarations from the directors are required. If any of the necessary documents are missing, the incorporation application will be rejected by the MCA. Individuals often find the documentation for company registration challenging. For the same reason, they search for a firm offering company incorporation services.
You can start the registration process for your company right away on your own or consult company incorporation services to guide you through the process. Either way, be careful while completing the formalities.
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