Every entity that wishes to work under the legal framework needs to avail the certificate of registration in the first place. The process of registration is pretty complicated and it is weaved around plenty of legal requirements. To avail of the registration certificate in the first attempt, one has to nail down the documentation part precisely. In this blog, you will learn about everything about company registration certificate from ground up.
A new entity can obtain a company registration certificate by following the guidelines recommended by the MCA, i.e. Ministry of Corporate. If you are new to the business world and want to learn every detail of the registration then continue reading this blog till the last. Unlike before you don’t have to roam around authorities offices to obtain certification of incorporation; now you can go online (authority’s portal) and simply follows the process for obtaining company registration certificate.
Before we get started with the main topic, let us go through some basics first. As per the regulations from the MCA (Ministry of Corporate Affairs[1]), India has made it very simple and uncomplicated to get a new company registered in a quick period. Also, as mentioned earlier you don’t have to roam around government offices to register the company. Instead, you need to visit the online portal and submit the required form and documents.
Read our article:How to validate the Company Registration Number?
What do you mean by Classification of the Companies?
There are five types of companies that exist in our country. Each one of them possesses different traits and aspects.
- Private Limited Company
- LLP (Limited Liability Partnership)
- OPC registration (One person company)
- Sole Proprietorship
- General Partnership
Difference between Public & Private Companies
- A public company requires a minimum of 7 board members to while a private company requires 200.
- The number of members in a private company cannot exceed 200. A public company, on the other hand, confronts no restriction in this aspect.
- Transferability of shares is not possible on the privately-held entities meanwhile the public company carries on limitation in this context.
- Private companies are not liable to share their internal affairs or policies with the public domain via a prospectus. On the contrary, public companies are free to do so.
- Private companies can start their business activities soon after incorporation meanwhile a public company is not allowed to do so until they obtain the business certificate.
- A private company doesn’t have to mandatorily comply with the requirement of the statutory meeting but it is mandatory for a public company.
Step By Step Procedure to Incorporate A Company via Spice +/INC 32/INC 35 (Agile Pro)
The following steps will help you incorporate the private limited company without a hassle.
STEP 1: Name Application:
At present, there are two ways to reserve the company’s name. First method to apply independently for two name for the company in Part A of Spice+ form available on the MCA portal.
Second method allows users to collectively apply for Part A & Part B i.e. apply name reservation & company incorporation together. Make sure to choose this option when they are assured of the name availability. In case of uncertainty, opt for Part A independently, avail the name approval and get started with the process of incorporation.
The details that goes along with name reservation includes form of company such as public limited company and private limited company, etc, category of company, industrial activity of the company, and object clause of the company. If you furnish the Part A, then the fees with regards to name approval are identical to RUN form which is Rs 1000/-
STEP 2: Arrange Essential Documents for Incorporation
- Photo copy of PAN and Aadhar of all the Directors as well as Subscribers. The copy should be self attest by the said individuals.
- DIR-2 Declaration of the first Directors as well as the photocopy of identity proof & residential address.
- INC-9- Declaration by the first Directors or Subscribers.
- In the case of unavailability of DIN, the applicant can apply for the same via SPICE+ for maximum of 3 directors and will need details such as Academic background, place of birth, occupation, email id and phone number. Moreover, it is compulsory to attach identification proof (anyone), Self attest copy of Driving license/passport/voter ID and Address proof (anyone):, Gas bill, Bank statement, mobile bill, electricity bill (latest ones). Additionally, NOC from the owner will be required in case of unavailability of director’s name in the utility bill.
- Declaration regarding the period spent by the directors at the present address. If the above period is less than one year then includes the detail of previous residential address.
- Company’s address proof such as electricity bill along with the NOC of the owner, lease deed, and rent agreement.
- Digital signature should be available at every subscriber.
STEP 3: Fill up the SPICE + & other linked forms
Once you completes the above steps, make sure the fill the Spice + form along with INC-9, SPICE+, AGILE-PRO, MOA & AOA. It is compulsory to enclose the information regarding PAN and TAN in the Incorporation Form “SPICE +”.
Information about the Linked forms
The section below would explain the type of form that you need to incorporate the company:
SPICE + MOA & AOA
This is a web-based form which ought to be filled for the object clause of the company as well as the article. This form is required to be filled with Spice+ form.
INC-9 Form
This form prefilled depending on the detail entered in Spice+ form. Attach the DSC (Digital Signature Certified) of subscribers and directors to this form.
This form is prefilled on the basis of the information entered in Spice+. Attach the directors and subscriber DSC to this form.
AGILE PRO
Web form AGILE-PRO is needed to file in accordance with Rule 38(A) of the Companies (Incorporation) Rules, 2014. The application regarding the incorporation of a company as per rule 38 will goes along with AGILE-PRO (INC-35).
The web form AGILE – PRO (INC-35) encloses the application for registration with the following entities:
Mandatory documents that goes along with the aforesaid web form:-
- Address proof of the business
- Proof regarding the appointment of Authorized Signatory for GSTIN such as Letter of Authorization or board resolution copy.
- Identification proof of the Authorized Signatory to open the bank account.
- Specimen signature of the authorized personal for EPFO.
Conclusion
The process of company registration is pretty straightforward, but you need to be cautious while addressing the documentation process. At CorpBiz, we assist our clients to understand the minute details of documentation, so that they don’t have to waits for approval for months. Though the above detail would be sufficient to obtain the company registration certificate, we still advise you to connect with our professional in case of any doubt.
Read our article:Know the Procedures to Cancel Company Registration under Companies Act, 2013
