Company Registration

SPICE+ Form: Fast-track Company Registration

calendar01 Mar, 2024
timeReading Time: 4 Minutes
SPICE+ Form Fast-track Company Registration

The SPICE+ Form for fast-track company registration has been introduced by the Ministry of Corporate Affairs so that the company registration process gets sped up. Earlier, the registration process involved many steps, like getting the name approved, applying for DIN (Director Identification Number), and applying for incorporation, but since the introduction of the SPICE+ Form, there has been fast-track company registration in the country. The Company registration form contains pages that include the details of the directors of the company, memorandum of association, Articles of association, etc. By filling in all the details in the SPICE+ Form correctly and at once, the company registration procedure can be completed. This is a less time-consuming and hassle-free process to get your company registered in no time. Through this form, the DIN of up to three directors can be generated. 

Significance of SPICE+ Form

The SPICE+ Form for fast-track company registration holds a lot of significance in today’s world. It has made the company registration process accessible to everyone with fewer complexities. The other significances of this SPICE+ Form are –

  • Company registration is made quicker and easier.
  • It is an upgraded version of SPICe (e-form INC-32)and can cater to the needs of getting the reservation of name, registration, and other important things.
  • The SPICE+ Form can be easily accessed by the applicants.
  • The SPICE+ Form reduces the applicant’s efforts, time, and money while registering the company.
  • The Company registration form can get the work of getting DIN, company name approval, Memorandum of association, articles of association, incorporation application, etc, done at the same time.
  • It negates the confusion while registering the company since it has streamlined the process of incorporation.

Guide to Company Registration using SPICE+ Form

SPICE+ Form for fast-track company registration helps in the Fast-track Company Registration in a streamlined manner. One has to fill out the company registration form in the following manner –

  • The new applicant has to register for the new company registration through the form.
  • The applicant can proceed with the incorporation or fill out the Part A of the form.
  • As soon as the incorporation is done, the applicant can proceed to fill out Part B of the form.
  • The applicant then has to submit the registration details of the firm.
  • The next step is to document the necessary registration papers.
  • The PDF of Part B filed for the DSC attachment has to be downloaded to fill out the required forms. 
  • These forms include SPICe+ Memorandum of Association, SPICe+ Articles of Association, AGILE PRO, URC-1 & INC-9. These forms, along with Part B, have to be uploaded to the Ministry of Corporate Affairs portal.
  • The Service Request Number would be generated for the payment of Fast-track company registration, and after the successful payment, the forms would be submitted to the ministry. 

With the Introduction of Form INC-29 by the MCA on May 1, 2015, the company registration process has been sped up, and now the approval time is around 48 hours. This is a huge boost for the new applicants since they don’t have to go through the lengthy procedures of filling the company registration forms like INC-7 for Memorandum of Association and Articles of Association, INC-1 for name approval, DIR-3 Form for Directors Identification Number, and others. The introduction of INC-32 has also made up the company registration process fast enough. 

Requirement of Attached Documents for SPICE+ Form

Apart from the abovementioned forms, certain documents need to be submitted for the process of Fast-track Company Registration. These are –

Official Address Proof

The applicant has to provide any document like a lease agreement, rent agreement, or property ownership document for the proof of address of the incorporation company.

Subscriber Sheet

This contains the consent of all the subscribers, including their identity proof and the declaration stating their consent to join the company.

Declaration of DIN

After getting the DIN by filling out Form DIR-3, the directors have to attach their declaration as well for being the director of the new organization.    

Details of Directors

Apart from the DIN, the directors have to provide their recent photograph along with the Aadhar Card, PAN card, and other identification and residential address proof.

MOA & AOA

These documents have to be provided to show the regulations of the company and the objective through which the new incorporation wishes to run its business in the market.

These forms are required to get the company registration form filled and get the registration process done. The applicant can get the documents by filing the forms that he/ she needs to furnish from the ministry.

Conclusion

With the introduction of the SPICE+ Form for fast-track company registration, the company registration process has become hassle-free, which has led to the growth of company registrations across the country. SPICE+ Form has streamlined the process and made it very easy to fill out so that even if an applicant doesn’t have much knowledge about the process can fill the form easily. The Ministry of Corporate Affairs has made a very positive effort towards the establishment of new companies to facilitate the individual as well as the growth of the nation.   

Corpbiz can help the applicants get the company registration through the SPICE+ Form in a very short time. There has to be the correct documentation, and we have a good team to help out the process in a timely and correct manner.

Frequently Asked Questions

  1. What is the full form of SPICe?

    The full form of SPICe is a Simplified Proform a for Incorporating a Company Electronically.

  2. Why is a SPICE+ Form filled?

    SPICE+ Form is a company registration form used for the Fast-track Company Registration process. Through this form, the application for name approval of the company, incorporating the company, getting the DIN, and TAN/PAN application is made. It speeds up the process of company registration in comparison to the previous ways of incorporation, which were time-consuming.

  3. Is it possible to incorporate a Nidhi Company using the SPICE+ Form?

    Yes, using the SPICE+ Form (INC-32), a Nidhi company can be incorporated.

  4. Is it possible to incorporate a Limited Liability Partnership using the SPICE+ Form?

    No, a Limited Liability Partnership cannot be incorporated by using the SPICE+ Formfor fast-track company registration since it is a different type of entity, and the procedure to incorporate it is different.

  5. What is the relevance of Part A in the SPICE+ Form?

    Part A of the SPICE+ Form is used to get the company name reservation, which is to be incorporated under the Companies Act, 2013.

  6. What does Part B of the SPICE+ Form contain?

    Part B of the SPICE+ Form covers the following things –
    ·         Company Incorporation
    ·         Getting Director's Identification Number
    ·         PAN & TAN application
    ·         Registration of GSTIN
    ·         Registering with EPFO, ESIC
    ·         Opening of a bank account for the incorporating entity

  7. Can a SPICE+ Form be rejected?

    Yes, a SPICE+ Form can be rejected by the ministry. In case the form gets rejected, then the applicant can get a refund of the fee by going to the 'Form Refund' section on the Ministry of Corporate Affairs website. Although, the refund for the stamp duty applied would not be made to the applicant.

  8. Is there any difference between the SPICE+ Form and the SPICe Form?

    Yes, in the SPICe Form, the applicant has to get the form downloaded and filled in offline mode and then upload it to the portal, whereas the SPICE+ Form is a completely online application for company incorporation as it can be filled directly through the MCA portal.
    Q- 9 Whom does SPICE+ Form benefit?
    The SPICE+ Form benefits a few entities incorporated under the Companies Act, 2013 like –
    ·         A Private Limited Company
    ·         A Public Limited Company
    ·         Nidhi Company
    ·         One-Person Company
    ·         Producer Company

  9. What can be provided to MCA as identity proof for the SPICE+ Form application?

    The documents that can be provided to MCA as identity proof for the SPICE+ Form application for fast-track company registration include a Driving License, Voter ID, Passport, Electricity bills, Telephone bills, ration cards, water tax, or bank account statements.

Read Our Article: How To Register A Startup Company In India?

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