Monday 29 June 2015

Company Registration in India

Company Registration in India
For fast, flawless, and economical company formation in India and incorporation in places all across entire India, ours internationally admired law firm is now rather famous and popular by Indian and foreign individuals and companies. Superb and punctilious legal services connected with the company law, business and commercial law, intellectual property law, international business, foreign direct investment, labor and employment law, corporate taxation and insurance, and so on, have been ours highly appreciated services of ours internationally prominent IPR law firm of India, which is located in Delhi. For a long time, we have been extending these expert and reliable services in cities all across India, and other countries worldwide, with inspiring success and high commendations. In this truly informative webpage, we are providing comprehensive and vital information about ours internationally reputed company registration services in India.
So far, almost all hugely popular and highly preferred forms of companies have been formed and established in all around the whole country of India, on behalf of Indian and foreign people and companies, inevitably including the varieties of the private limited companies, public limited companies, limited liability partnership companies, unlimited companies, One person Companies, joint ventures, mergers and acquisitions, and branch offices, project offices of international corporations in India and subsidiary company in India. These types of companies can be set up in any interested economic fields and anywhere in India, for doing businesses at regional, national, or worldwide levels. The section below offers more information about the process of company registration, and our dutiful and expert company registration services.
List of Documents Required for Company Registration in India

The process for registering a public limited company is almost the same as the private (pvt) company registration process. For registration of both these forms of limited companies, immediately concerned is the registrar of companies (ROC) appointed in the targeted State of India, under the Section 396 of the Indian Companies Act, 2013. Along with impeccable services for private limited company registrations, ours public company registration services too, are internationally reputed. For knowing the difference between the private limited company and the public limited company, please visit our other pertinent articles. All tasks and services that exist during the entire company registration process in India, are handled adroitly by ours well-experienced, expert, and internationally renowned company lawyers. The following are the main and most important documents required during the process of company incorporation in India:
·         Complete Personal Details, along with Proof of Identity and Address.
·         Director Identification Numbers (DINs)
·         Digital Signature Certificates (DSCs)
·         Minimum one and Maximum Six Proposed Names of the company, in order of preference (Form INC  1)
·         Form INC 7 (For Incorporation of a Company)
·         Form INC  22 (associated with the address of the company being registered)
·         Form DIR  12 (related with appointment of Directors)
MOA and AOA

Company Registration in India




Company Registration in India

For fast, flawless, and economical company formationin India and incorporation in places all across entire India, ours internationally admired law firm is now rather famous and popular by Indian and foreign individuals and companies. Superb and punctilious legal services connected with the company law, business and commercial law, intellectual property law, international business, foreign direct investment, labor and employment law, corporate taxation and insurance, and so on, have been ours highly appreciated services of ours internationally prominent IPR law firm of India, which is located in Delhi. For a long time, we have been extending these expert and reliable services in cities all across India, and other countries worldwide, with inspiring success and high commendations. In this truly informative webpage, we are providing comprehensive and vital information about ours internationally reputed company registration services in India.
So far, almost all hugely popular and highly preferred forms of companies have been formed and established in all around the whole country of India, on behalf of Indian and foreign people and companies, inevitably including the varieties of the private limited companies, public limited companies, limited liability partnership companies, unlimited companies, One person Companies, joint ventures, mergers and acquisitions, and branch offices, project offices of international corporations in India and subsidiarycompany in India. These types of companies can be set up in any interested economic fields and anywhere in India, for doing businesses at regional, national, or worldwide levels. The section below offers more information about the process of company registration, and our dutiful and expert company registration services.
List of Documents Required for Company Registration in India

The process for registering a public limited company is almost the same as the private (pvt) company registration process. For registration of both these forms of limited companies, immediately concerned is the registrar of companies (ROC) appointed in the targeted State of India, under the Section 396 of the Indian Companies Act, 2013. Along with impeccable services for private limited company registrations, ours public company registration services too, are internationally reputed. For knowing the difference between the private limited company and the public limited company, please visit our other pertinent articles. All tasks and services that exist during the entire company registration process in India, are handled adroitly by ours well-experienced, expert, and internationally renowned company lawyers. The following are the main and most important documents required during the process of company incorporation in India:
·         Complete Personal Details, along with Proof of Identity and Address.
·         Digital Signature Certificates (DSCs)
·         Minimum one and Maximum Six Proposed Names of the company, in order of preference (Form INC  1)
·         Form INC 7 (For Incorporation of a Company)
·         Form INC  22 (associated with the address of the company being registered)
·         Form DIR  12 (related with appointment of Directors)
MOA and AOA

Tuesday 23 June 2015

REGISTRATION OF PRIVATE LIMITED COMPANY IN INDIA:

To Register a Private Limited Company in India, you have to fulfill the following requirements:
Minimum 2 Members.
Minimum capital for the Company should be Rs. 1,00,000/-
Members should have valid individual proofs and identity.
A valid address proof for your registered office address.
Apart from this a Private Limited Company should be properly named. Name of a company has a vital role, it should be unique and have to reflect the business of the company.
Name of a Company contains two parts- Prefix and Suffix. The Prefix should be unique and Suffix has to reflect your company’s main business nature. Check with MCA website to find you name availability, click here.
To Incorporate a Private Limited Company, kindly follow the below four simple steps:
Step 1: Obtain DSC and DIN
To get started with formation of private limited company, you need to get a DSC- Digital Signature Certificate and once obtaining DSC you need to apply for DIN i.e Director Identification Number. This DIN is a unique eight number allotted to the respective Directors of the Private Company. You have to file an e-form DIR-3 to get an DIN, to download the necessary form click here.
Step 2: Name Reservation
For a Private Limited Company you have to apply with six names to the Registrar of Companies i.e. RoC and any one name from the six would be approved. Name has to be applied through Form INC-1 along with the prescribed fee. To know your fee, click here.
Step 3: Submission of Legal Documents
After the allotment of name, in order to complete the process of company registration, you need to draft MOA, AOA and other legal documents, which has to be submitted along with valid registered office address proof. If you don’t have the proof during incorporation, you can submit after incorporation but within 30 days from the date of receipt of Certificate of Incorporation.
When all the necessary documents are being submitted to the Registrar of Companies, the RoC after verification of documents would issue the Certificate of Incorporation.
POST INCORPORATION PROCESS
The Incorporation is over after the receipt of Certificate from the Registrar of Companies, but Private limited Companies needs to follow certain Post incorporation compliance which is mandatory.
The post incorporation compliance would be as following:
File form for Commencement of Business.
Registered Office address of the Company.
Appointment of Auditor for your company.
Maintenance of Statutory Registers and records.
Convening First Board Meeting and recording it in Minutes Books of the Company.
Apart from this a Private company has to file the Annual returns to the RoC annually without fail. If you need assistance for the above you can avail our retainer services or if you need more information you can check our Start-up tool kit.
To understand the private limited company procedural aspects of same in easy manner, check out our infographics.

If you have any doubts kindly get in touch with us by filing a simple form given in this page http://www.companyformationindia.com/contact-us.html . Our team member would contact you within short span of time to answer your doubts.

Saturday 20 June 2015

Registered Office of a Company


Registered Office of a Company

Registered office of a company is the main office of the Company to which all communication relating to the company is sent by the governmental departments. The promoters of a company or LLP must declare the registered office of the companyduring incorporation and maintain certain documents at the registered office. In this article, we review the process for selection and maintenance of a registered office of a company.

Registered Office of a Company
The registered office of a company is a place to which all official communications pertaining to a Company is sent. In addition to a registered office, a company can have an corporate office or administrative office or branch office or factory, etc., However, only the registered office of the Company needs to be registered with the Ministry of Corporate Affairs. All other offices or additional locations can be opened by a company without any intimation to the ROC.
The registered office of the Company will also determine the domicile of the company (State of Incorporation). The state or location in which the registered office of the Company is situated will determine the Registrar of Company (ROC) to which the application for company registration must be made. Any change of address of Registered Office must be notified to the Registrar of Company (ROC) within a specified period.
Registered Office Requirement during Company Registration
At the time of company formation in India , it is important to declare the registered office of the Company and submit documentary evidence. Typically, the following documents must be submitted while declaring a registered office of a company during incorporation:

Electricity Bill / Water Bill / Property Tax Receipt
No-Objection Certificate (NOC) from Landlord for Registered Office
Rental or Lease Agreement between Landlord and the Company
It is important to note that the name and address mentioned on the electricity bill / water bill / property tax receipt exactly match the NOC Certificate from Landlord and the Rental Agreement. Further, the registered office of acompany cannot be a vacant land or building under construction. However, there is also no requirement for the registered office to be a commercial or industrial property. The registered office of a company can also be a residential property.

In case the company has not decided the registered office of the Company while filing for incorporation, Companies Act, 2013 provides the option for the Company to declare a temporary address. The registered office of the Company must then be declared by filing INC 22 within 15 days of incorporation of the Company.

Registered Office Change

Once the registered office of a Company is declared by filing INC 22, any further changes to the registered office of the Company must be intimated to the ROC. Any change is registered office address within the same area of city or town or village must be notified within fifteen days by filing the appropriate forms. In case of change of registered office of a company, outside the local limits of any city, town or village, then the change of registered office must be approved by a special resolution passed by the Company. If the registered office of a company is to be changed from one jurisdiction of a ROC to another jurisdiction, then the change in registered office must be approved by the Regional Director of ROC. Visit companyformationindia.com for more information relating to change of registered office of a Company.


The requirement for registered office of a Limited Liability Partnership (LLP) is very similar to registered office of a company. Therefore, the concepts covered in this article are applicable for a LLP also, with changes to forms to be filed for declaration of registered office of a LLP.


Tuesday 16 June 2015

STEP BY STEP GUIDE TO INCORPORATION OF PRIVATE LIMITED COMPANY IN INDIA

Private limited company incorporation procedures as per the latest Companies Act, 2013.
REQUIREMENT FOR STARTING A PRIVATE LIMITED COMPANY:
Minimum Members:
For starting a Private Limited Company, there should be at least a minimum of 2 members and a maximum of 200 members. The maximum number of members to 200 has been raised to 200 from 50 in the new Companies Act, 2013. The members can be appointed as the Directors of the Company.
Minimum Capital:
In order to register a Private Limited Company, a minimum of Rs. 1,00,000/- authorized capital and paid up capital has to be infused.
STEPS IN REGISTERING YOUR PRIVATE LIMITED COMPANY:
Register a private limited Company
Incorporation of Private limited Company
STEP 1: APPLY FOR DSC AND DIN
DSC stands for Digital Signature Certificate- obtain DSC for two Directors. DIN-Director Identification Number- a unique eight digit number has to be obtained for one time, valid for entire lifetime of the Director.
DOCUMENTS REQUIRED FOR APPLYING DSC AND DIN:
For DSC:
PAN card copy with self attestation – ID PROOF.
Voter id copy or Driving license copy with Self attestation – ADDRESS PROOF.
For DIN:
PAN card copy with self attestation- ID proof.
Voter id or driving license or passport copy or Aadhar card copy with self attestation- Address proof.

STEP 2: NAME RESERVATION:
Application for Reservation of Company name- A name plays an important role in Company incorporation process. The MCA has laid Naming guidelines for choosing proper name for your company.
A Company has two parts in his name- Prefix and Suffix.
Prefix which is the first part of company name must be unique and should not be common.
Suffix contains the business part of your Company. Suffix should reflect the business nature of your company. For e.g. Infosys Technologies Private Limited. Here Infosys is nothing but merging of two words- Information and Systems and suffix is Technologies, which reflects the business of the Company.
The Registrar of Companies will not approve any undesirable names for the company.
Form Inc-1 has to be filed for application for reserving Company name. Once the name is approved it is valid for up-to sixty (60) days from the date of application.
STEP 3: SUBMITTING FINAL FORMS ALONG WITH MOA AND AOA:
After applying and obtaining name for your company, the net step would be drafting MOA- Memorandum of Association and AOA- Articles of Association. MOA and AOA forms the life blood of your company. MOA contains the main business object that company is going to carry now and in mere future, AOA contain the internal rules and regulations of the Company.
Form INC-7 and Form DIR-3 has to be submitted for incorporating your private limited company.
Attachments required for Form INC-7
Memorandum of Association.
Articles of Association.
Form IN-10 with notarization.
Form INC-9 printed on stamp paper and notarized.
Form INC-8 Power of attorney given to the Practicing Company Secretary or Chartered Accountant for signing on Forms for your Incorporation. Should be printed on stamp paper.
PAN card copy of both the subscribers to the MOA & AOA.
Address proof copy of both the subscribers to the MOA & AOA.
Attachment required for Form DIR-3:
Form Dir-2- Consent to act as Directors of the Company.
Form INC-10- Specimen signature copy of both the Directors with Notarization.
Post Incorporation Filing:
Once the Certificate of Incorporation has been issued by the Registrar of Companies, the Company has to file Form INC-21 for Registered office address proof, within 30 days from the date of incorporation.
A Private Limited Company has to appoint an Auditor for his company within thirty (30) days from the date of its incorporation.


Tuesday 9 June 2015

How The Modi Government Is Easing Entrepreneurship – And All That Remains To Be Done

All governments too often gather only flak, regardless of the improvements they see through. Part of this simply comes down to the disparity between actual results and the grand expectations set by campaign speeches. But in focusing on these initial promises, we almost always forget how hard it is to breathe life into a moribund economy. Entrepreneurs, of all people, can appreciate how hard it is to produce change in a large workforce.
To some extent, our pessimism is understandable, given that the media would rather push bad news rather than positive developments. But from where we’re standing – and Vakilsearch has daily interactions with government institutions across India – the developments are often positive, with improving processes and better solutions with the capacity to quicken starting-up and ease running of a business.
Now, don’t get us wrong. It’s still very far from perfect. And if you don’t know how things were, you’ll never believe that it has improved. But take this as an example – while it often takes us up to 45 days to register a new a company, we did so in under 14 days because of a new 5-in-1 form introduced in May 2015.
So let’s give credit where it’s due by going through the improvements. And only then initiate a discussion about what remains to be done.

Doing business in India

With India languishing at 142nd on World Bank’s Doing Business Index, there’s of course, much that we can do to ease entrepreneurship in India. This is no small exercise given the multitude of organisations and thousands of people involved in the processes pan-India. So while we are unlikely to crack the top 50 even a year since the election of the new government, as was discussed, crucial changes have been made:

Simplifying Company Registration: Form INC-29

A private limited or one-person company (OPC) is now simpler and quicker to form, with this form, which combines three separate applications – for the Director Identification Number, company name and final incorporation. So, while entrepreneurs had to previously wait for one procedure to be completed to begin the next, all three are now processed simultaneously. And by the same officer, who will inform you of all the corrections you need to make, if any, at one go. This eliminates the need to run from one department to another, which leads to miscommunication. While there can be improvements to this system too, the INC-29 is a big step in the right direction.

Lowering Cost Of Registration: No Minimum Capital Requirement

The Companies (Amendment) Bill, 2015 has boldly decided to remove the minimum paid-up capital requirement, previously Rs. 1 lakh for private limited companies and OPCs and Rs. 5 lakh for public limited companies. So while a young entrepreneur had to issue share capital worth Rs. 1 lakh, he can issue even Rs. 5000, thus severely reducing the cost of starting-up. If entrepreneurship is a priority, and it most certainly is, this is exactly how to encourage it.

Lessening The Need For Resolutions: Transactions Between Related Parties

The Companies Act, 2013 required a special resolution (votes in favour need to be three times votes against) for even transactions between related parties. This has now been relaxed to only an ordinary resolution (simple majority). More importantly, shareholder approval is no longer required for transactions between holding company and its wholly owned subsidiary, if consolidated accounts are submitted to shareholders for their approval.

Fewer Rules & Deadlines: For All Involved

When dealing with government, you’ll often find the rules to be arbitrary. For example, Form INC-10 required applicants to have their signatures and photograph verified by a banker or notary. While applying for company registration, all directors needed a Digital Signature Certificate (DSC). The company name was reserved for only 60 days, even though the process is most often delayed by the Registrar. Over the past two months, all such problems have been done away with. Only one director may apply for DSC, Form INC-10 can be self-attested, while the name reservation does not expire.

Starting A Business

The top 50 countries to start a business in let entrepreneurs start-up in 7 to 10 days. In India, while incorporation has been shortened, the various licenses and certificates still take around 40 to 50 days to obtain. And there’s duplication everywhere. The Certificate of Incorporation, for example, is enough to obtain a Permanent Account Number, but you need the Certificate of Commencement to get a current account. And even this alone won’t do. You also need to have registered under the Shops and Establishments Act.

Paying Taxes

Particularly when a business is small, entrepreneurs’ lives should be made simpler. But we still live under a system wherein we need several separate government registrations (Service Tax, Professional Tax, SalesTax, Shops and Establishments), which take between 10 and 35 days to obtain, and you need to file taxes bi-annually or monthly for three of these four. It’s not like other countries haven’t solved for this. The US, for example, has simply brought all these processes under one body and enabled all tax payments through the Tax Identification Number. Local businesses here do get a Tax Account Number, but that’s only for tax deducted at source, not for all the other indirect taxes that need to be filed.

Enforcing Contracts


We’re 186th (out of 189) on ease of enforcing contracts. How much more investment could we attract if we can assure foreign investors that contracts they enter into will quickly be enforced by a court of law? Currently, the trial, enforcement and judgement takes up to 1420 days, that’s almost five years, as compared to less than two years in developed nations. Moreover, 46 procedures are involved, as compared to 21 for developed nations. What we need to do is have fast track courts for commercial disputes (arbitration is not as easy as it sounds) and reduce powers of regulators. For more information follow our blog http://buisnessregistration.blogspot.in for resister one-person company,LLP or private limited company