ADVANTAGES OF PRIVATE COMPANY REGISTRATION IN INDIA.
➢ Separate Legal Entity (The company is distinguished from its members, Directors & Subscribers except in case of Fraud or Misrepresentation)
➢ Registered with Central Government (The company registered with ROCs & MCA (Central government)
➢ Transference, Scalability & Mobility in the Business
➢ Legal Status.
➢ “Private Limited” is used at the end of the company name.
➢ Perpetual Succession.
➢ Limited Liability of the members.
➢ Business Credibility /Fundraising.
➢ Brand Value.
➢ Expansion Of Business.
➢ Invite FDI (Foreign Direct Investment).
MINIMUM REQUIREMENT FOR PRIVATE COMPANY REGISTRATION
• Name of the Company
• Minimum 2 Members.
• Minimum 2 Directors (Only Natural person i.e. Ram).
• The authorised capital of Minimum 1 Lakh.
• No minimum requirement of Paid-up Capital.
• Minimum 1 Director is Resident of India.
• All Directors have a DIN (Director Identification Number).
• The company have a Business Objective.
PROCESS OF COMPANY REGISTRATION
• Application For Digital Signature
Every person (Directors, Members & Subscribers) who is going to Incorporate a company is required to have Digital signature which attached by the person in the application form for Company Registration.
• Application for Allotment of DIN In Form DIR-3.
The person who wants to become a Director of the company has a prerequisite requirement of having Director Identification Number (DIN) & Without DIN no. a person cannot appoint as Director. The Director of the company is always a natural person (Like Ram, Shyam etc) not Artifical person (Like HUF, Company, Trust etc).
• Application for Name approval.
The person required to have a Unique Company name before Incorporation & application is made in RUN (Reserve Unique Name) form with MCA (Ministry of Corporate Affair) portal with the fees of Rs. 1000/-
• Preparation of the following documents of Directors, Members & Subscribers are:-
➢ Attestation of Identity proof (Driving License or Passport or Voter ID);
➢ Notarization of Identity proof;
➢ Attestation of Address proof (Mobile Bill or Electricity bill or Bank Statement);
➢ Notarization of Address proof;
➢ Consent of Directors in DIR - 2;
➢ Attestation & Notarization of Company Registered office documents;
➢ Affidavit & Undertaking of Directors & Members;
➢ Undertaking from practising CS/CA/CWA.
• Preparation of Memorandum of Association (MOA).
➢ The MOA is very important documents for registration of the company and its also known as the Constitution of Company or Bye-laws.
➢ The MOA contains the Company Name clause, Registered office clause, Liability Clause, Share capital clause & Subscriber clause.
➢ The MOA of the company is prepared in the Spice form -33 & digitally signed by the Subscribers of the company and practising CS/CA/CWA.
• Preparation of Articles of Association (AOA).
➢ The Company AOA contains the internal rules & regulation related to company day to day working, contract, appointment, payment, employee & resolution etc.
➢ The Spice form - 34 is used for the preparation of AOA and digitally signed by the Subscribers of the company and practising CS/CA/CWA.
• Preparation of E form Spice 32 & Insert the following Details are: -
➢ The Company, Directors, Members & Subscribers.
➢ Paid-up capital.
➢ Authorised share capital
➢ Shareholding ratio
➢ DIN no.
➢ The registered office of the company.
➢ Attached the Identity proof & Address proof of Directors, Members & Subscribers.
➢ Attached the Undertaking of Practising CS/CA/CWA & Undertaking of all the Directors, Members & Subscribers.
➢ Attached the Consent of Directors.
➢ Digital Certification by Practising CS/CA/CWA & Director.
• Filing of Form Spice 32 (Application for Company Registration).
➢ The Spice – 32 files with ROCs (Registrar of Companies) along with Spice form -33 (MOA) & 34 (AOA).
➢ This Spice form is Digitally signed by the Director of the company & practising CS/CA/CWA.
➢ The company can be made an application for PAN, TAN & GST registration along with the application of company registration.
• Issuance of Incorporation Certificate.
The MCA registered the company after verification of all the documents & Issued the following documents are: -
➢ CIN (Certificate of Incorporation);
➢ PAN card;
➢ TAN Registration &
➢ GST registration certificate.
DOCUMENTS REQUIRED FOR COMPANY REGISTRATION
Documents of Directors & Members
➢ Passport Size Photo.
➢ Identity Proof (Driving License or Passport or Voter ID).
➢ Address Proof (Mobile Bill or Electricity bill or Bank Statement).
➢ PAN Card (Mandatory).
➢ Passport is mandatory for Foreign National or Non-Resident India (NRI).
➢ Aadhar Card.
➢ Mobile No.
➢ Email Id.
Documents of Company
➢ Name of the Company.
➢ Business Objective (A company registration is done for only one objective).
➢ Authorized Share Capital.
➢ Paid Up Capital.
➢ Registered Office of the Company (Property Owned (Sale Deed or Electricity Bill) OR Property Rented ( Rent Agreement).
After Incorporation or Registration of the company is required to do Post Incorporation Compliances.
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