What are the requirements of forming a Company in India?

Due to the Digital India Initiative, a company can be incorporated electronically now using the online website of the Ministry of Corporate Affairs.

Documents for company registration in India

The mandatory documents required for company registration in India are:-

• Identity proof of directors – PAN (Permanent Account Number) card for Indian nationals
• Address proof of directors – permissible documents are Passport, Drivers License, Voters Card, electricity bill, water bill, phone bill, Aadhar card
• Residential proof – the name of the Director must be clearly mentioned. Residential proof can be submitted in the form bank statement, electricity bill, telephone bill, mobile phone bill – these must not be more than 2 months old.
• In case of directors of foreign nationality, passport is mandatorily required. Other than that address proof of the person needs to be submitted – documents accepted are driving license, residence card, bank statement or official ID issued by the Government clearly mentioning the address. Residential address proof also needs to be filed – documents accepted are bank statement, electricity bill, telephone and mobile bills. All these documents cannot be more than a year old.
• Address proof of the registered office – documents that are accepted are either the notarized lease or rent agreement with a rent receipt copy of the previous month or registration of the title of the premises. Alongside, no-objection certificate from the landlord as well as copy of any utility bill like telephone, gas, electricity etc are also mandatorily required.
• Identity and address proof of all shareholders of the company needs to be submitted
• In case of a shareholder being a corporate body like a Private Limited Company or LLP, the certificate of incorporation of the corporate is required along with the Board resolution of subscription to the shares of the new company to be incorporated.
• Other than the above documents, Forms SPICe – INC- 32 needs to be filed with the Ministry of Corporate Affairs. eMOA (INC-33) and eAOA (INC-34) are the default forms that need to be submitted.

Private Limited companies are one of the most popular types of business entities in the Indian market. For private limited company registration in India, the company needs to have minimum 2 directors and maximum 15 directors on Board.

Company Registration Process

1. The first step in the Company Registration process is to reserve the name of the company prior to filing for incorporation using the RUN service. It is the onus of the stakeholders to ensure that the proposed name of the company does not contain any word that is prohibited under Section 4(2) & (3) of Companies Act, 2013 along with Rule 8 of the Companies (Incorporation) Rules, 2014. Alongside it is for the stakeholders to check for Trademark search so that it is not in violation to provisions of Section 4(2). The proposed name of the company can be checked online at the website of the Ministry of Corporate Affairs official website.
2. Digital Signature of the Directors of the company need to be obtained before filing for company registration.
3. Submitting the SPICe Form at the MCA website digitally. Many would-be companies skip the RUN step and directly submit with the proposed name on the SPICe Form. If the name is available, the certificate of incorporation is granted. If the name has already been taken, the application is rejected and the form and the documents are required to be re-submitted with a new proposed name.
4. The certificate of incorporation is granted within a day or so after submission or e-filing of the Form along with the required documents. The Company Permanent Account Number is also granted simultaneously.

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