Overview - Private Limited Company Registration India
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Company is the most trusted and visible business structure in India. A Private Limited Company in India is registered under the Companies Act 2013 with limited liability.
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Company Registration is regulated by the Companies Act, 2013, and administered by the Ministry of Corporate Affairs (MCA), Registrar of Companies, and is processed at the Central Registration Centre (CRC).
How to Register a Company in India?
Today, company registration process and other regulatory filings are paperless; documents are filed electronically through the MCA website and is processed at the Central Registration Centre (CRC).
Company Registration process 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 certain prerequisites to registering a company in . Requirements and process of registration of company depends on the type of These are minimum shareholders and directors, etc for different types of Companies.
Basic requirements for Online Company Registration in India:
To register a Private Company, there should be a minimum of two shareholders. 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 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.
3. Digital Signature Certificate (DSC)
All filings including are made through the MCA online application system, appended with a valid Digital Signature Certificate (DSC).
4. Company Name
The name structure of a private company is Name (Noun/Coined Word) + Activity Word + Private Limited. For eg. CompaniesInn Solutions Private Limited. Proposed Company Name shall comply with the Company Name Availability Guidelines under Companies Act 2013.
You can check the company name availability and make sure there is no Company or LLP name already registered the same or similar name that you propose.
How to Choose a Company Name? Selection of a company or LLP is the most unpredictable task in the process of starting a company and LLP. Naming of a Business by a promoter is a logical decision and approval of the name by the office of the Registrar of Companies is a legal decision.
a. Validity of Company Name Approval
Company Name approved will be valid for 20 days from the date of Approval, in case name is being reserved for a new company.
b. Extension of Time Company Name Validity
From January 26, 2020, the Registrar shall extend the period of a name reserved subject to payment of fees provided by Web service SPICe+.
Days of Extension
Application to be made before
20 days of Approval
40 days (Refer 1 above)
20 days of Approval
5. Share Capital
The term Share Capital in a Company means the amount invested by the owners of the company for running the business.
There is no minimum capital (Authorised or Paid up Capital) requirement for registering a company. However, the registration fee payable to the Registrar of companies depends on the different slabs of Authorised capital of the company.
6. Registered Office Address of Company
Registered Office of Company refers to the official correspondence address of a company or its principal place of business. The address of the Registered Office will be used for all official communications of the company.
7. Commencement of Business by Company
The First Shareholders must bring the subscribed capital to the Company within 180 days of Company Incorporation. The Company can commence the business activities only after filing a declaration to the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him.
Company Registration Office in India
Registration and regulatory administration of limited companies are regulated under the Companies Act, 2013 and is administered by the Office of the Registrar of Companies (ROC), Ministry of Corporate Affairs. The Office of the Registrar of Companies (ROC) is situated at each State.
SPICe+ (SPICe Plus) Company Registration
As a part of Ease of Doing Business(EODB) initiatives by Government of India, the Ministry of Corporate Affairs would be shortly notifying & deploying a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe Form 32 SPICe+ would be an integrated Web form offering multiple services viz. name reservation, incorporation, DIN allotment, mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account. It will also facilitate allotment of GSTIN wherever so applied for by the Stakeholders.
What you get with Company Registration?
After completion of Company Incorporation, you get the following:
1. Certificate of Incorporation
Certification of Incorporation is the Birth Certificate of Company.
2. MOA & AOA
Memorandum of Association (MOA) & Articles of Association (AOA) are the charter documents of Company.
2. DIN of Directors
Director Identification Number (DIN) will be allocated to all the directors, who does not have an existing DIN.
3. Company PAN Card
Physical PAN Card and TAN allotment letter will be despatched from the Income Tax Department by post to the registered office address with in 15-20 days of Company Incorporation.
It is important to receive the PAN when delivered to the Registered Office address. If it is returned undelivered, there is no option to retrieve it and duplicate PAN card has to be to be applied with separate fee.
An E-PAN Card and TAN allotment letter will also be delivered to the registered e-mail ID from Income Tax Department. The password to open the same will be Date of Registration of Company (DDMMYYY).
6. PF / ESI Registrations
PF / ESI Registration numbers will be allocated to the Company. These registrations are mandatorily processed along with Company Incorporation. However, the Ministry has clarified that new companies incorporated through Spice+ and have obtained EPFO/ESI numbers will have to file statutory returns only when they cross threshold prescribed under the relevant Acts.
7. Bank Account
Under Spice+ incorporation process, the preferred bank is will open a Bank account in the name of the Company and Account Number will be allocated to the Company. However, the bank account will be activated only after completion of KYC process by the Bank.
8. Professional Tax Registrations
In Karnataka and Maharashtra, Professional Tax Registration is also processed along with Spice+ incorporation process. Registration particulars will be mailed to the registered email immediately after incorporation of Company. However, required fee for registrations has to be paid separately to the respective departments by creating online login with the credentials received.
Company Registration Fees in India
Company Registration Fee varies depending on the Authorised Capital of the Company and State in which company is to be registered. Fill the form with place of registration and Check the Company Registration Cost / Package for different State.
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Company Registration - Requirements
Minimum 2 individuals out of which one must be a person resident in India. All directors must have KYC documents.
Minimum 2 shareholders. It is possible to have individuals and entities as shareholders
Since, all documents are filed online, it is mandatory to have all directors and shareholders valid digital signature
Registered Office Address
Every company need registered office. The co-founders shall produce KYC documents at the time registration and thereafter for filing with registrar
How to Register a Company in India
Company Name Application
The applicant has two options to proceed with Company Name Application.
Option 1. Get the Company Name Approval under RUN Application process and proceed with File an application for Company name approval first and then go for Company Registration; or
Option 2. File the Integrated Company Registration Form.
The Company name can be reserved through SPICe incorporation process. In case of name application through SPICe form, only one name can be submitted for approval. However, if the first applied name is rejected, the application can be resubmitted 2 more times with alternate names.
Preparation and Filing of Company Incorporation Documents with MCA:
Under the SPICe incorporation process, Company Incorporation Process consists of preparation and filing of the flowing E-Forms:
a. e-Form INC-32 - Simplified Proforma for Incorporating Company Electronically (SPICe)
b. e-Form INC-33: e-Memorandum of Association (SPICe MoA)
c. e-Form INC-34: e-Articles of Association (SPICe AoA)
All the documents executed / notarised / attested as per documentation requirements has to be attached to the e-Form INC-32 / 33/ 34 and the e-Forms has to be digitally signed with the Digital Signature Certificate (DSC) of all the proposed shareholders / representatives.
There is NO Registration Fee payable for filing of e-Form INC-32 for all types of Companies if the authorised capital is less than or equal to Rs.15 Lakhs at the time of registration. However, filing fee for e-Form INC-33 / 34 and stamp duty is applicable for registration of any Company.
Processing of e-Forms by the office of Central Registrar of Companies
The Central Registration Centre (CRC) processes the application and if found the details / documents are in order, the Central Registrar of Companies shall register the Company and issue the following:
1. Company Incorporation Certificate
2. DIN for Directors
3. Permanent Account Number (PAN
4. Tax Collection and Deduction Number (TAN) to the New Company.
To get Company registered, you need to provide below documents. The documents can be submitted through online
Documents to be Signed by all SHAREHOLDERS
- Application for Digital Signature Certificate (DSC)
- Declaration by Subscribers & Director: INC-9
Documents to be Signed by all DIRECTORS
- Consent to Act as Director: Form DIR-2
- Details/Information for DIN
- Declaration of DIN (If DIN is allotted already)
Registered Office – Address
- Address Proof – Electricity bill / Tax Paid receipt
- No-Objection Letter from the owner of the Property
ID & Address from Directors and Shareholders
Shareholders and Directors have to submit Identity Proof and Latest address proof
- Primary ID - Permanent Account Number (PAN)
- Additional ID - Aadhaar Card or Driving License
- Latest Address Proof: Telephone Bill or Voter Identity Card or Passport or Electricity Bill or Bank Statement or Bank Passbook with latest entries
The following documents are required on a case to case basis:
- NOC for Use of Name from Trademark owner
- Resolution and NOC from an existing Company / LLP for user of similar names Declaration for complying sectoral regulatory compliance
Advantages of Company Registration
A limited company is the most accepted business organization in India as its structure is well known to the public.
Like any other incorporated business, a limited company is a limited liability organization. The owner's liability is limited to the extent of shares held in the company and ends once he pays for the shares.
Protection of Personal Assets to owners
Since the liability of owners is limited, their personal assets are protected against business risk as the company's liability is not the owner's liability.
Assets and liabilities of a company belongs to itself and do not belong to the shareholders. Hence, the company will continue to be in existence even if the owner changes
Can sue and be sued
A limited company is like an artificial person created by law. Like any other person, it can sue and be sued before the court of law. This means that if a company defaults, others can take legal action against the company and likewise, the company can tak