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Registrar of Companies for New Business Registration

Company registration is a tedious task but very vital for building yourself in the Indian market. It is extremely necessary to be registered in order to enjoy all the benefits. 

Registrar of Companies for New Business Registration

The registration of companies for new business registration is an easy process. But it requires an individual to be extremely cautious. It is a must to follow various rules and regulations provided by the government of India. Submit documents as mentioned by the Ministry of Corporate Affairs and ensure proper fee payment. 

The article here gives further details on the registrar of companies for new business registration and provides responses to every related query around it. Do read the article and sort out your worries. 

Private Limited Company Registration – Step by Step guide

A private limited company, or PVT Ltd., is a company that requires two or more directors, a minimum of 2 shareholders and can have up to a maximum of 200 shareholders. Registration of the company can be done by following certain steps. Assuring that you are prepared with the required documents and submitting them in the correct form is the only requirement.

The points below gives a step-by-step guide on the registration of companies for new business. Follow the step-by-step guide to register your private limited company. 

  1. Creating the Digital Signature Certificate (DSC)
  2. Creating the Director Identification Number (DIN)
  3. Securing the unique name for the company 
  4. Form SPICE+ INC-32
  5. Memorandum of Association (MOA) and Articles of Association (AOA)
  6. Obtaining the PAN and TAN number 

From the documents required for the given steps to the signature and availability of the form, all the details are mentioned here. Do make sure to read it. 

  1. Creating the Digital Signature Certificate (DSC)

Digital Signature Certificate or DSC is the digitally available signature of the director or shareholder of the company. It is required for the filling of the online forms during the registration of the company for new business. 

It is mandatory for all online processes, specifically for MOA and AOA signatures. The digital signature can be obtained from government-recognised authorities. The list can be obtained here. It takes 5-6 hours to obtain the DSC..

  1.  Creating the Director Identification Number (DIN)

DIN is an identification number required for the director of the company. Whoever aims to be the director of the company should have the following number. 

An individual can obtain the DIN number by filing the DIR -3 or SPICE+ form. SPICE+ form only allows for the registration of three directors. If he or she needs to have more directors, the individual needs to apply for the same before the incorporation of the company. 

  1. Securing the unique name for the company 

You obviously want to give a name to your company. Don’t you? In order to name your company, the individual must choose a unique name that is not being registered by another company and is available with the Registrar of Company (RoC). 

The following registration of the unique name can happen through filing the SPICE+ form. Further details about it can be found in the Ministry of Corporate Affairs. 

  1. Form SPICE+ INC-32

The form SPICE+ was introduced recently in the month of February 2020. It has made the process of incorporation furthermore easier as filling in the Part A and Part B forms also provides details on the other required forms for the incorporation of the company. 

Forms such as AGILE-PRO, eAoA, eMoA and INC-9 are being filled with these details. SPICE+ form is web-based and streamlines the incorporation of the companies. 

  1. Memorandum of Association (MoA) and Articles of Association (AoA)

e-MoA and e-AoA are electronic memorandums. It has been introduced by the government in order to ease the process. MoA represents the constitution of the company, while AoA constitutes the rules & regulations of the company. 

Earlier, it was supposed to be filled out physically, but currently, it is linked to the MCA portal, and the form is filled out online. Thus, making the process easier. DSC is required for the signing of the documents. 

  1. Obtaining the PAN and TAN number 

The SPICE+ form has also helped in the process of applying for the company’ PAN and TAN. Post the submission of the SPICE+ form, PAN and TAN forms are auto-generated. An email is sent by the MCA providing the certificate of incorporation, PAN and TAN of the company. 

What Is the Eligibility for Pvt. Ltd. Company?

A Private Limited Company has  very different requirements compared to One Person Company or OPC. The eligibility criteria for incorporating a Pvt. Ltd. company are entirely separate from the other standards for company establishment. Please find the list of requirements for registering a company for a new business, 

  1. Minimum of 2 directors are required for the registration of a Pvt. Ltd. Company. Additionally, one director has to be an Indian citizen. It means he or she should have lived in the country for not less than 182 days in the previous calendar year, while the other individual can be a foreign citizen. 
  1. Secondly, it is essential to have a minimum of 2 shareholders for the company registration. The limit can exceed 200 members for the registration of Pvt. Ltd. 
  1. Furthermore, it is important for each director to have a DIN number already allotted prior to the registration process; if there are more than 3 directors. 
  1. DSC certificate is also extremely important to be acquired to be  eligible for incorporating a Pvt. Ltd. company. 
  1. Another important aspect of incorporating a Pvt. Ltd. Company is that a unique name has to be decided by the company. The name should not be used by any other firm. 

Further, it is also required to decide and state the reason behind starting the company. It must be related to the activities that need to be carried out. 

  1. One of the other key requirements for the registration of companies for a new business  is that the details of the PAN card copy of the director(s) and shareholders be available. 
  1. Additionally, a copy of the passport should be available if a foreign citizen is involved in the company as a director or shareholder.

FAQ – Registrar of Companies for New Business Registration

What is the procedure to register a company in Bangalore?

As mentioned above, the requirement for registering a Pvt. Ltd. company requires a minimum of 2 directors and a minimum of 2 shareholders, which can exceed upto 200. 

Also, an address is required for the registration, which can be either a physical or virtual office.

How much money is required for Pvt Ltd company registration?

The cost of registering a company as a Pvt. Ltd. varies from Rs. 6,000 to Rs. 30,000. It depends entirely on the number of directors and members and the state where registered office of the company is situated. Also, authorized share capital and professional fees add to the expense of the company registration. 

Can we register a company without an office?

Yes, it is possible to register a company without a physical office. It can be registered at the address of a virtual office.

Do I need a CA to register a company in India?

Yes, a Chartered Accountant or practicing professionals like company secretary or cost accountant is a must for the registration of the company. 

What if a company is not registered?

In such a situation, it becomes impossible for the company or an individual on behalf of the company to file a suit against a third party in case of a breach of a contract.

Further, no registration means no legal existence of the company.

Conclusion – 

Registration of a company for new business needs essential documents to be submitted. It also needs the company to be registered and follow a certain process. It cannot be just done as per the individual’s time. A strict deadline should be maintained while filing or registering the company for new business.

The article above gives a brief on the registration process and the eligibility for incorporating a Pvt. Ltd. company. Furthermore, it also gives details on the requirement of a CA. 

Are you still confused and do not understand the process entirely? Do not worry. We have a solution for that too. Instafiling, a leading compliance service platform, is built to help individuals like you during the entire registration process. You will be guided throughout the process of registration of a company for new business by our experts. Click on the link and let your company be registered soon.

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