Which documents are required for Private Limited Company Registration?
The documents specified below are to be submitted by the directors and shareholders of the forming company.
- A scanned copy of pan card or passport (for NRI’s or foreign nationals)
- A scanned copy of voter id card or driving license or passport
- A scanned copy of latest telephone/mobile/electricity/gas bill or bank statement
- A scanned copy of passport size latest photograph.
- Specimen signature on a blank document (only for directors)
The first three documents are required to be self-attested by one of the directors. In case of foreign nationals and NRI’s, all the documents should be notarized or apostilled as per the need.
For the registered office
- A scanned copy of latest telephone/mobile/electricity/gas bill or bank statement
- A scanned copy of notarized rental agreement in English
- A scanned copy of no objection certificate from owner of property
- In case of owned property, A scanned copy of property deed or sale deed in English.
Your registered office necessarily not be a commercial place it can be your residential space too.
What is Company registration process?
You can now get your company registered while sitting at home online. There are four steps involved in getting your company registered.
1. Acquiring the director identification number (DIN):
The director of the company needs to obtain the identification number. It is mandatory for a director to acquire DIN. DIN-1 is acquired by filling up an eform which is available at the official site of MCA (ministry of corporate affairs)
- Register yourself on the MCA site through login id. Fill up required DIN-1 eform and upload in on the MCA website by clicking on the desired upload button. Pay the required application fee thereafter.
- After getting the DIN-1 pin, the director needs to intimate the company about the same by filling form DIN-2.
- Then, form DIN-3 is filled to intimate the registrar of corporates (DOC) about all the directors pin.
- Eform DIN-4 is filled in case there is a need to update the information filled in DIN-1 form about lIke change of address, name etc.
2. Acquiring the Digital signature certificate (DSC)
Acquiring digital signature certificate is important to ensure the authenticity of the documents filed electronically. The information act 2000 demands a valid DSC for the same. The DSC should be acquired by only those agencies that are appointed by the controller of certification agencies (CCA).
If you have a digital signature certificate, you don’t need to apply for it again, provided the validity of the signature has not expired.
Some of the government approved agencies from where DSC can be acquired are, TCS, MTNL, NIC, IDBRT etc.
3. Filing an eform of new user registration
You need to have a registration id on the MCA portal if you are a new user. You have to start by clicking on the register link.
4. Acquiring incorporation certificate
The final step in the registration process is to acquire an incorporation certificate. Here are some of the forms that need to be filled for various different purposes like for incorporating company name, company’s registered office address, the appointment of directors and managers etc.
- Form 1-A: It is the application form for the availability of the change in the company’s name. The MCA provides 4 alternative company names related to your company, from which you have to choose any one of them. You need to submit the form 1-A and submit to choose the same.
- Form 18:
- It is filled to acknowledge the situation of new company office or change of the previously registered office.
- This form is for the appointment of directors, managers, and secretary of the new company.
This form is also for the change in the existing directors, managers, and sectary of an old company.
MCA will send a confirmation email in case of the approval of the application of the new company.
What are advantages of company registration in India?
- You can get many tax exemptions if the company is set up in special economic zones.
- A company should only have a minimum authorized capital of ₹100000 to be a private company in India.
- You can find skilled and talented employees at nominal rates
- Since the majority of Indians have an English base, it becomes easy to set up a business process outsourcing here.
Thus, get set to register your company in India with Tax Advocate India. Speak with our customer support representative today!
FAQs about online registration of a company
After the introduction of Companies Act, 2013, there are many confusions amongst people about the legalities of companies. The old act of Companies Act, 1956 is applicable to those companies which were registered before 2013. Also, the existing companies now are required to follow the amendments made in the new act. There are endless queries about online registration. We bring you top 10 FAQs about the online registration of a company:
1. For my company to be eligible for registration, what is the minimum number of members required?
That is dependent on whether your company is a private company or a public company. For private companies, a minimum number of members will be 2 and for the public company, it is a minimum of 7 members.
2. What is the meaning of shares? And how many shares can a company issue?
Shares are nothing but a number of rights you have in a company. This is usually calculated in monetary terms. Ex: If your company is having 10,000 shares and you own 1000 shares, then it means that you have 10% rights to participate in the activities of the company.
The number of shares that a company can issue is dependent on the authorised share capital of the company. This is decided by the promoters or owners of the company.
3. Who are the directors of the company?
The directors of the company are the people who undertake all legal proceedings of the company and appointed as directors by the promoters. They are answerable to the management and accountable to the shareholders.
4. Can any person act as a director?
NO. There are some qualifications to it : people of sound mind, people who have attained the age of majority( above 18 years) and people who are not declared bankrupt can act as directors.
5. What should be the minimum paid up capital for a company to get registered?
That is again dependent on whether the company is private or public. For private companies, it can be 1,00,000 INR and for public, it is 5,00,000 INR.
6. Is it mandatory to hire a Chartered accountant or a Company secretary for online registration?
NO. The law doesn’t make it mandatory. However, if the online registration process is completed by Chartered accountants or Company secretaries, the process is much smoother and their experience and knowledge are bound to help you. However, if you are well acquainted with the process , you can do it on your own.
7. Is the word ” limited” compulsory for a company?
YES. If it is a public company, only the word ” limited” would suffice. But for private companies, the word ” private limited” is compulsory. That’s how people recognise if the company is private or public.
8. During online registration, how to decide the company’s name?
The name of the company can be selected by your choice but there are some guidelines provided. The name you choose shouldn’t resemble any existing company name, shouldn’t create an illusion that the company is a government company. You need to choose 3 names and submit to Corporate Affairs Commission.
9. Are there any minimum number of directors required?
Yes. Absolutely. For public companies, there should be a minimum of 3 directors and for private companies, there should be a minimum of 2 directors. The directors’ names and addresses should be given while registering your company.
10. Can I start issuing shares before obtaining Certificate Of Incorporation?
No. Unless you are an incorporated company, you cannot proceed with issuing the shares. Only when your company obtains COI( Certificate Of Incorporation) you can issue shares. A certificate of Business Commencement may also be required in case your company is a private company.
Get Company Registration Done Through Tax Advocate India
While we tried to cover the general FAQs above, but there are hundred other nuances that one needs to take care of while getting the company registered. This is when Tax Advocate India comes to your rescue and provides the best services. Our experienced professionals and skilled workforce are well-aware of what all it takes to register your company and find pride in boasting that we have registered an array of companies till date successfully! Look upon us for any registration needs today!