Incorporation And Formation Of Company

Private Limited Company

 Private company is a company incorporated under the Companies act, 2013 having separate legal entity, perpetual succession and can sue and be sued by its own name.

Minimum Requirement for Private Limited Company:

  •    A minimum number of two Directors who are adults.
  •   One of the Directors of a private limited company has to be an Indian Citizen and Indian Resident.
  •   The other director(s) can be a Foreign National.
  •   It is also required to have two shareholders of a company.
  •   The shareholders can be natural persons or an artificial legal entity.

Advantages/Benefits/Merits:

  • Separate Legal Entity
  • Limited Liability of Members
  • Separation of Management and Ownership
  • Easy to raise funding
  • Perpetual Succession
  •  

Public Company Registration

Public Company is a company incorporated under the Companies act, 2013 having separate legal entity, perpetual succession and can sue and be sued by its own name.

 

Minimum Requirement for Public Company:

  •   A minimum number of three Directors who are adults.
  •   One of the Directors of a Public Company has to be an Indian Citizen and Indian Resident.
  •   The other director(s) can be a Foreign National.
  •   It is also required to have seven shareholders of a company.
  •   The shareholders can be natural persons or an artificial legal entity.

 

Advantages/Benefits/Merits:

  • Separate Legal Entity
  • Limited Liability of Members
  • Separation of Management and Ownership
  • Easy to raise funding
  • Perpetual Succession
  • Easy transferability of ownership

One Person Company Registration

 

One Person Company is a company incorporated under the Companies act, 2013 having separate legal entity, perpetual succession and can sue and be sued by its own name.

Minimum Requirement for One Person Company Registration:

  •   A minimum one Director who is adult.
  •   Director of a one person company has to be an Indian Citizen and Indian Resident.
  •   It is required to have only one member of a company.
  •   The shareholder can be natural person or an artificial legal entity.
  •   A nominee is required to be nominated by sole member for succession in case of death or lunacy of sole member.

 

Advantages of One Person Company Registration

  • Separate Legal Entity
  • Limited Liability of sole member
  • Separation of Management and Ownership
  • Perpetual Succession
  • Lesser Compliances

Section 8 company registration

 

Section 8 company is most appropriate for non-profit/NGO related objectives such as promotion of commerce, art, science, sports, education, research, social, welfare, religion, charity, protection of the environment, etc.. The process of registration of section 8 company is just like normal company registration in India with an additional requirement of a license from the central government under section 8 of the Companies Act, 2013.

 

Minimum Requirement for Section-8 Company registration:

  •   A minimum number of two Directors who are adults
  •   One of the Directors of a section 8 company has to be an Indian Citizen and Indian Resident.
  •   The other director(s) can be a Foreign National.
  •   It is also required to have two shareholders of a company
  •   The shareholders can be natural persons or an artificial legal entity.
  •    Mandatory to have charitable object.

 

Advantages of Section-8 Company Registration

 

  • Separate Legal Entity
  • No Minimum Capital Requirement
  • Suffix in Name
  • Tax Advantages:
  • Exemption to the donors:

 

Documents required to register a Company

1. Documents from Directors and Shareholders

A. Identity Proof

1) Permanent Account Number (PAN) Card

2) Aadhaar Card / Passport / Driving License / Voter Identity Card

B. Address Proof

1) Telephone Bill / Mobile Bill*

2) Electricity Bill / Water Bill*

3) Bank Statement /Bank Passbook with latest transaction* 

*(Any one of the Document not older than 2 months)

C. Passport size Photographs

Notes:

  • All the Copies of documents must be Self-Attested by the applicant.
  • Telephone Bill / Mobile Bill/Electricity Bill / Bank Account Statement must be in the name of applicant and should not be older than 2 months.
  • In case of NRI or Foreign National, documents of director (s) must be apostilled.

 

2.  Registered Office – Address

a) No-Objection letter from the Owner of Address to use the address of the registered office of the Company.

b) Address Proof – In the name of the Owner

  • Electricity Bill, Telephone Bill (Fixed Line Only), Gas Bill or Water Bill (Not older than 2 months);- To be signed by the of the Owner of Premises

c) Rent Agreement (if rented)

Steps of Incorporation of a Company:

  • Preliminary Requirements
  1. Select a suitable package.
  2. Provide basic details & documents required for Incorporation.
  3. Make Payment through Secured Payment Gateway 

 

  • Registration
  1. Application for DSC
  2. Application for Name approval
  3. Drafting of documents (MOA, AOA, DIR-2,etc)

 

  • Registered on MCA*
  1. Issuance of COI, PAN, TAN by MCA.

*Company will be registered with 10-12 working days subject to the MCA processing and approval.                        
 

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