What is the process of online registration of a company?

 

It is not challenging to follow the steps for incorporating a business. You must, however, be aware of every stage and supply precise information. If you follow these steps, incorporation should go smoothly, and your business will be operational in no time. This article aims to clear up all of your questions regarding how to establish a business in India, including what types of companies can be registered there, what the eligibility requirements are, and how to create a company online. To help you get started right away, it will go above and above by outlining the procedure in the most straightforward way imaginable. A prominent provider of CompanyIncorporation Services in India, Legalraasta has an experienced staff of qualified specialists who can assist you with the procedure.

There are several forms of online company registrations:

Ø  One Person Company (OPC): This type of Private Limited Company has just one director who is in charge of conducting and supervising all business operations.

Ø  Private Limited Corporation (PLC): This is a type of private limited company having two or more shareholders and a minimum of two directors. Directors may be shareholders or be in charge of daily managerial tasks, with shareholders making the important business decisions.

Ø  Limited Liability Partnership (LLP): This structure combines the PLC and partnership structures, and it requires at least two authorized partners. The Partners in an LLP have their own unique legal entities.

Ø  Sole Proprietorship: Those who want to work entirely on their business without interference from any other entity or person should form a sole proprietorship.

Ø  Partnership: Without a separate legal firm entity, a partnership consists of two or more people who work together to make all of the important business decisions.

Process of Registration online registration of a company

Companies are registered with the Registrar of Companies (ROC), and in order to complete the registration process on your behalf, you will need the assistance of a practising professional. To ensure that the process goes successfully, it would be your responsibility to give them the precise information and necessary documents as soon as possible. Briefly describing them below, it consists of a 4-step process that takes about 10–12 working days.

1.      Digital Signature Certificate (DSC): Throughout the registration procedure, DSC is used to securely send electronic documents. Therefore, it is necessary for all directors and stockholders to acquire DSC. The Controller of Certification Agencies (CCA) can provide it.

2.      Name Reservation (SPICE+ Part A): We now fill out the SPICE+ Part A form, which essentially assists you in registering the company name of your choice. You may first suggest two distinct names. The MCA is approved in two to three days. If your first two name submissions aren't accepted, you have another chance to offer two further names. Make sure the company names you select are distinctive and describe the work the company does and its guiding principles.

3.      Details of the Proposed Company (SPICe+ Part B): The SPICE+ form's Part B must then be completed with the company's information listed below, including:

o   Information on Shareholders and Directors, Registered Office Address, and

o   Stamp Duty, whose calculation is based on authorised capital and varies from state to state.

o   PAN and TAN and providing a declaration signed by the director and practising professionals.

 

4.      SPICE+ MOA (Memorandum of Association): The SPICE+ MOA (Memorandum of Association) is composed of five sections, including the firm name, registered address, the primary goal of the organisation, liability, share capital, and subscribers declaration. The SPICe+ AOA (Articles of Association) describes the company's name, legal address, equity capital, and managerial and financial decisions. When submitting their work for MCA approval, practising professionals must include both their own DSC and those of the Directors. These are referred to as a company's charter documents. These have been created by the working specialists who are assisting you with company registration.

5.      Agile Pros: As your company registration procedure draws to a close, the Agile Pros form provides you with a GST registration number, credentials for the Employees Provident Fund Organization, and ESIC (Employee State Insurance Corporation). This form also offers a list of banks from which you can select one to open a current account and, if necessary, register a shop or establishment.

6.      Form INC-9: Once the aforementioned forms have been submitted, Form INC-9, an auto-generated form, must be submitted. A statement from the board of directors and shareholders.

7.      Certificate of Incorporation (COI): The MCA issues this document. Once you have it, it is official proof that the MCA was used to lawfully incorporate your business. Along with the registered address of the PLC, it includes the date of incorporation, Company Identification Number (CIN), PAN, and TAN. A DIN number is given to the Directors.

Eligibility requirements

Ø  A minimum of two directors, one of whom must be an Indian national who has resided continuously in India for at least a year.

Ø  There must be a minimum of two shareholders for an entity to qualify as a shareholder. The shareholders may also be the directors.

Ø  The company's registered office address must be in India.

Documents required for online registration of a company

Ø  A self-attested copy of each director's and shareholder's PAN (Permanent Account Number) and Aadhaar Card.

Ø  A photo the size of a passport.

Ø  A self-attested copy of your driver's licence, passport, or voter ID as identification.

Ø  A self-attested copy of a recent bank account passbook that includes the name and address of the account holder as well as a list of recent transactions.

Ø  All of these documents, with the exception of those issued by the Indian government, must be mandatorily notarized and apostilled in the case of foreign nationals.

Ø  A copy of the lease agreement in the case of rental property.

Ø  For both rented and owned properties, a No Objection Certificate (NOC) from the owner.

 

Conclusion

The sort of business structure you want to incorporate must first be determined. It will govern the regulations you must abide by, the rules you can establish, your business practices, and the legal requirements you must meet. To register your business, you will require the assistance of a working professional. Knowing the procedure inside and out will just make the whole process easier for you.As a result, we are offering information on how to incorporate a business, prepare and register contracts, agreements, and memorandums of association, partnership deeds, and other documents in accordance with the Companies Act of 2013. So if you intend to establish a business and want to learn how to register your company, you should check out Legalraasta. You won't need to conduct any further research because the procedure largely stays the same throughout India. Contact a Legalraasta expert right away!