Legal

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.

Last Updated on: 8th December 2023, 12:09 pm


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The content of this article is for information purpose only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc. before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that the Author / Treelife is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof.

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