Procedure of Company Registration

There is a rise in the number of startups in Indian Economy. One can establish a business choosing any business model like sole proprietorship, partnership, LLP or a company depending upon their business model and number of promoters. Many prefer to incorporate a company as it provides various benefits like limited liability, perpetual succession, separate legal entity etc.

There are different types of companies like;

• Private Limited Company
• One Person company
• Public Limited Company
• Nidhi Company
• Section 8 Company for charitable purpose etc.

Companies can also be categorized as;

• Company limited by shares
• Company limited by guarantee

With an objective to promote the corporate culture and keep track of the market players the government has taken various steps and initiative to make the company registration process easier. Earlier this year this process was further simplified. In this article we will discuss about procedure company registration in India.

Company Registration Procedure

Anyone willing to incorporate a company in India has an option to choose from any of the below mentioned options;

1. Incorporation after name approval
2. Direct incorporation

We will discuss both the alternatives here.

Incorporation after name approval

It is recommended to incorporate a company only after company name registration. For name reservation Reserve Unique Name (RUN) Service is available on the Ministry of Corporate Affairs portal. The applicant is required to apply with two unique names. Once a name is approved it is reserved for a period of day only.

The applicant is required to file SPICe form for incorporation within 20 days of name allocation. It is required to be submitted as a linked form along with SPICe AOA and SPICe MOA.

Direct incorporation

The other option is to file for incorporation through SPICe Form without name approval. Following mentioned all the services are covered under SPICe Form;

1. Name Approval
2. Company Incorporation
3. DIN Allotment
4. PAN Allotment
5. TAN Allotment
6. Registered Office Registration