Incorporation of an Indian company
Written By
Garima Mitra, Pooja Savla
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Quick Summary
Incorporating a company in India involves a structured process governed by the Companies Act, 2013. The key steps include:
- Obtain Digital Signature Certificates (DSC): Acquire DSCs for all proposed directors and shareholders by submitting their Aadhaar or PAN cards, contact details, and photographs.
- Name Reservation: File the SPICe+ Part-A form with two proposed company names and a brief description of the business activities to reserve a unique name.
- File Incorporation Documents: Complete SPICe+ Part-B by providing detailed information about shareholders, directors, share capital, and the registered office address. For foreign directors or shareholders, ensure KYC documents are apostilled and notarized in their home country.
- Post-Incorporation Filings:
- – Form ADT-1: Appoint an auditor within 30 days of incorporation.
- – Form INC-20A: File a declaration for the commencement of business within 180 days of incorporation, accompanied by a bank statement showing the receipt of subscription money from subscribers.
- Additional Registrations: Depending on the business requirements, obtain necessary registrations such as GST, Professional Tax, and Shops & Establishment registration.
Adhering to these steps ensures legal compliance and a smooth start for your business operations in India.
Blog Content Overview
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
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.
About the Author
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Garima Mitra
Co-founder | [email protected]
Spearheads Transactions, Contracts, and Compliance verticals. Combines expertise in business law and a passion for social impact to shape the legal and financial ecosystem for startups.
Pooja Savla
Principal Associate | Transactions | [email protected]
Specializes in transaction advisory, including mergers and acquisitions, investment structuring, and corporate legal matters. Combines a strong background in law and finance to drive seamless transactions and business growth.
We Are Problem Solvers. And Take Accountability.
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