Incorporation of an Indian company

Pre-requisites for incorporation

Proposed Name	•Name to be available and unique. Should contain the nature of business •Minimum 2 names to be proposed
Share Capital	•Authorized and paid-up share capital to be determined •Sample capital structure: -10,000 equity shares of INR 10 per share -Total paid-up capital of INR 100,000 -Total authorized capital of INR 1,000,000
Directors	•Minimum 2 directors required •Minimum 1 director to mandatorily be Indian resident
Shareholders	•Minimum 2 shareholders required
Registered Office Address	•Commercial property/office location required as registered address •Services of co-working office spaces can also be availed for virtual office address

Incorporation process

Step 1 – Obtain DSC of directors & shareholders

Approx TAT: 2 Days Key documents/information required to be filed: Aadhar/PAN card, contact no. & email address and photo of individual

Step 2 – File for name application

Approx TAT: 3 Days Form: Spice+ Part-A Key documents/information required to be filed:

a. 2 proposed names of company b. NIC code along with 2-3 sentences about proposed business of company

Step 3 – File incorporation documents

Approx TAT: 1 Days Form: Spice+ Part-B Key documents/information required to be filed:

A. Shareholder and director details + KYC proofs

• KYC documents of foreign director and shareholder need to be apostilled and notarized in home country

B. Company details – Share capital (authorized and paid up), registered office address, email address and contact no.

Note: TAT is subject to MCA website

• On approval of spice forms, company incorporation is complete
• Certificate of incorporation, PAN, and TAN are issued to the company
• Company can open bank account

Post – incorporation process

STEP 1 – Post incorporation filings

A. FORM ADT 1 Approx TAT: 2 Days Key documents and information required to be filed:

– Auditor details – Name of auditor/auditor’s firm along with partner’s name, PAN, Membership no., registered address, email address, written consent & certificate stating he/she is not disqualified for appointment

– Company’s board resolution appointing such auditor B. FORM INC 20A Approx TAT: 2 Days Key documents/information required to be file: Bank statement of company showing inward receipt of subscription money from subscribers

• Company can issue share certificates to its shareholders

STEP 2 – RBI filing in case of foreign investor

Form: FC-GPR Approx TAT: 2 Days* (*2 days from receipt of FIRC and KYC from AD bank) Key documents/information required to be filed: FIRC and KYC for the fund transfer in foreign exchange entity master registration and business user registration to be obtained on FIRMS portal

Obtain initial registrations:

• Shops & establishment registration
• Profession tax registration
• GST registration
• Udyog Aadhar/MSME registration
• Startup India registration
• Angel tax exemption

For further details on licenses and registrations, refer to the document attached here.