Starting a business in India is a difficult process. Especially if the investors. And the directors are not a resident of India. And who need different Government Approvals. This guide will help you for Company settlement in India. Without any worry. Here we have provided full details about the steps to be taken to incorporate a company in INDIA.
Pre Incorporation Steps:-
- Engagement with the Client (or Contract signing with the Client)-
In the very First step, our team requests is to sign. And fill the Contract letter with the Client. After that, send a copy of Contract. to the registrar office. And also attach at least 75% of the due diligence files with it. Along with this, you need to pay the Contract fees. After that, they will give you a detailed contract plan. This detailed contract explains each step of the Contract.
- Digital signature certificate or (need of DSC)-
In the Company Act, many files need digital signature of the Director. Or of the Head.or manager of the company.That’s why. It is important to get a DSC. fromthe legal DSC issuing authority. But not more than two directors can sign the E-Forms. that are used in the company. For example, Form INC-1.and many more forms. Or files.For getting DSC.you needs to provide below files. for each shareholder. and Director of the company:
- 2 passport sized photos
- Notarized copies of passport
- Address proofs (like an electricity Bill or any government bill.)
Now, we send an application for DSC certificate. This allows Indian company directors to e-sign. and upload Forms of the company. To the registrar.and Ministry of company Affairs (MCA).
Director Identification Number (DIN) or (need of DIN)-
According to the Company laws, anyone known as director of a company must have a DIR number. For getting DIN, first apply for an application in the Form DIN-3. This form is further applied to the Central Government. Additionally, fill the Form DIR-4 with digital sign. And pay the fees for DIR number as defined. This should be done before filling the INC-1 e-Form which is helpful to get the name for company. And make sure that all the Directors have a DIN number. In conclusion, if you do not have a DIN. it must be get first. But, also make sure. that a person cannot have more than one DIN. Hence, after receiving a DIN.it meets the need. for all companies. in which it is directors. or if want to become a member. of the board of directors.
Incorporation Steps:
1. Company Name Registration with the Registrar Of Company-
The next step in registering your company.is to submit a name request. The application must first be submitted on the INC-1 form. You can enter six names here. According to your needs.And for approval. However, the names entered cannot be the same. Or just like the current LLPs, companies. Or the trademarks or brands.After approval. The desired name is available for 60 days. Now, the user can apply. for an application. for the incorporation of company. Otherwise, the name will not be registered by the Ministry.
2. Obtain the Certificate of the Incorporation of the company-
Once the company name is in use.You can make a request for a certificate of incorporation. And send in the form of SPIC-e. Along with MOA form.and with AOA form. Then send the application. Along with the payment of the needed stamp duty. In case, if an state shows interest on the portal attach the stamp duty. After sending the letter.The PAN.and TAN form get available online. And you can fill them online. Afterwards you can send it to the DSC to MCA.
About MOA and AOA document:
The MOA and the AOA represent the contract. Along with articles of the company.These are the most important files. for any company to register. But this is in the last step. of the company register process. The MOA has details about the company’s field of activity. Goal and aim of the company.And the relations of the company. The AOA has details about the way. the company operates under related laws. thus, contains the details of the Directors duty. the type of company is also in it.
3. Corporate Income tax Registration-
After certification of Incorporation by MCA. Company needs to complete. the online tax register process. with the income tax department. The process requires to e-file the Form-49A. for gettinga permanent Account Number. (PAN).As well as e-file the Form 49-B. to secure a TAN Number.Yet if you need.then, you can also apply the company for VAT.
4. Corporate Bank Account Opening or need to open an bank account for company-
You may also need. to open a Local multi-currency corporate bank account. If you create an account with a top Indian bank. It will further help to make the transactions process easy. To create the account.send a complete. as well as detailed application. to the bank.
5. Deposit of Share Capital-
After the approval of corporate bank account. You have to deposit the share capital. of US$1,650 (INR 100,000) within 2 months. Which will then.give a certificate of deposit. To get a Foreign Direct Investment certificate.through the Reserve Bank of India.
Post InCorporation Steps:
1. Application For Social Security:In caseif requires. thenour team will ask you to register for Social security with the Ministry of Labor. And Employment. It will provide social security to the company.
2. Engagement Completions: Now, the company incorporation process in India is complete. After that.you are courier a full company kit. Along with the files.And Original company files. And unopened bank letters. And the feedback form.
Required Document for Incorporation:-
Here are the necessary documents. to complete incorporation of company. and shareholders:
- Notarized passport copy. And proof of address of all directors. And also of shareholders.
- Passport pictures of all directors. And shareholders.
- Forms DIR-3. And DIR-6 for DIN application.
- Form INC-29, INC-1, MOA. and AOA for name reservation. And company incorporation
- Form 49A for PAN
- 49-B Form for TAN
- Form VAT-1 for VAT
Above all forms are available for download. at the official website of the Ministry of Corporate Affairs.
