Company registration in India is regulated by the Companies Act, 2013, and administered by the Ministry of Corporate Affairs (MCA - www.mca.gov.in) and is processed at the Central Registration Centre (CRC).
Until 2006, registering a company meant filing physical documents with the Registrar of Companies in each State. The introduction of an e-governance initiative MCA21’ in 2006 by the Ministry of Corporate Affairs, transformed the processes of company incorporation and regulatory compliance filing from the cumbersome physical filing procedure to electronic filing authenticated with a Digital Signature Certificate.
Central Registration Centre (CRC)
Today, company registration and other regulatory filings are paperless; documents are filed electronically through the MCA website (www.mca.gov.in) and is processed at the Central Registration Centre (CRC).
Company Registration process in India is completely online. Upon completing all registration formalities, the Registrar of Companies’ issues a digitally signed Certificate of Incorporation (COI). Electronic certificates issued by the ministry can be verified by all stakeholders on the MCA website itself.
Incorporating a company is a systematic process of collection and submission of details required as per the requirements of Companies Act 2013 and as per the process defined by the Ministry of Corporate Affairs from time to time. Management of the process requires in-depth knowledge of legal requirements and not to mention, practical experience of the same.
Requirements for Company Registration
There are some pre-requisites to register a company. Requirements and process of registration depends on the type of company, the r will These are minimum shareholders and directors, etc for different types of Companies. Before starting the process, keep in mind the pre-requisites for company registration as given below:
To register a Private Company, there should be a minimum of two shareholders and for Public Company it is seven. OPC should have only 1 shareholder. The first shareholder(s) should execute the Memorandum and Articles of Association for registering the Company.
A Private Company should have a minimum of two directors and a Public Company should have minimum three directors and an OPC should have minimum 1 Director. Only individuals can be designated as directors of a company. Where a new company is registered by two or more existing companies or LLPs, the promoter company or LLP can nominate individuals as directors of the new company. An individual should hold a valid DIN to become a director of a company.
Director Identification Number (DIN):
DIN is an identification number allotted by the MCA. DIN can be obtained by filing an online application supported by valid identity and address proof documents, validated by professionals.
Indian National should have a Permanent Account Number (PAN) allotted by the Income Tax Department to obtain a DIN. In case of Non-Indian Nationals, copy of passport is mandatory for obtaining the DIN.
Digital Signature Certificate:
All filing including DIN applications are made through the MCA online application system, appended with a valid Digital Signature Certificate (DSC).