Are you ready to embark upon entrepreneurship? Well, the first and foremost step is to register your company and give your venture a legal identity to take carry out the commercial activities. In India, every new company needs to be recorded in the official records under Ministry of Corporate Affairs (MCA). And the good news is that you don’t need to visit the Ministry office for carrying out these formalities. You can easily carry out the registration formalities from the comfort of your home. All you need is an e-form to file registration details of your company, Digital Signature Certificate (DSC) and Director Identity Number (DIN). Let’s understand the step by step procedure on how to register a company in India-
1) Checklist– As per the Companies Act 2013, following checklist is required to register a company in India.
a) Unique Name– Your Company should have an original and unique name. It should not match with any other company name or registered trademarks in India.
b) Registered Office– A legal address of company for carrying out the official correspondence. It can either be a commercial space or even a rented home until you have obtained a NOC from the landlord.
c) Directors– A private limited company should have minimum two and maximum 15 directors from which at least one should be a resident of India.
d) Capital Requirement– An authorized capital of at least Rs. 1 lakh to commence the business.
2) Obtain Director Identification Number (DIN) -You need to acquire DIN before registering the company online. It is assigned by the Ministry of Corporate Affairs and identifies with the current or future director of the company in India. You can easily obtain it by filling the DIR-3 & DSC forms on the MCA’s website along with the copy of following documents- Passport, Address proof, Education certificates, passport sized photograph, and present occupation.
3) Acquire Digital Signature Certificate (DSC) – As per the Information Technology Act-2000, there is a provision to use digital signatures on the documents submitted online to maintain its authenticity and security. To obtain DSC, fill the same forms along with the similar documents which were submitted for DIN.
4) Register on MCA portal and create a new account @mca.gov.in
5) Registration Process–
a) Fill the forms online and apply for RoC. You can easily find them online or at the MCA website for your particular state.
b) Prepare documents list including- a stamped MoA, a stamped copy of AoA, copy of the letter from the RoC confirming the availability of company’s name, e-Form No. 1 required for incorporation of company, and receipts of payment for registration and filing fees.
c) Apply for company’s PAN and TAN number
d) Certification of incorporation issued by RoC with PAN and TAN
e) Opening bank account on company’s name for commercial transactions.
Once you have submitted these documents on MCA website, you will receive a mail from the ministry regarding its verification. After approval, print the documents to get notarized. Scan them and submit notarized documents and prescribed fees (depending upon your company’s assets) and submit them online. MCA will issue the Certificate of Incorporation and you are ready to conduct business in India.