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.
