Welcome to MPVD Associates, your trusted partner for Company Registration in Kolkata, Sole Proprietorship Registration, and all your business incorporation needs in Kolkata. If you’re embarking on your entrepreneurial journey in India, it’s crucial to understand the various aspects of Company Registration, Company Incorporation, and Company Formation. At MPVD Associates, we offer comprehensive services to guide you through the process, ensuring a smooth and hassle-free experience.
Understanding Company Registration
Starting a business in India begins with Company Registration, also known as Company Incorporation or Company Formation. It’s a fundamental step that every entrepreneur must follow. There are different types of Company formations, such as OPC Company Registration, Pvt. Ltd. Company, Public Ltd. Companies, and LLP Registration. However, the most popular choice is Private Limited Company Registration. Here’s why:
Private Limited Company Registration
Ideal for High Sales and External Funding: Private Limited Companies are suitable for businesses expecting high annual sales and entrepreneurs seeking external sources of investment. This structure allows for a minimum number of individuals to form a company.
Limited Liability and Capital Raising: One significant advantage of registering a Private Limited Company is that the liability of the directors is limited. Lenders can only claim their amount from the company’s assets, not from the directors’ personal assets. Additionally, Private Limited Companies provide a straightforward platform for capital raising within the company and even offer Employee Stock Ownership Plans (ESOPs) to employees.
Required Documents for Company Registration
To initiate the process Company Registration in Kolkata, you’ll need the following documents:
- Passport-size photos of directors
- Copy of PAN Card of directors
- Copy of Aadhaar Card/Voter identification card of directors
- Electricity/Water bill (Business Place)
- Copy of Property papers (If owned property)
- Copy of Rent agreement (If rented property)
Checklist for Company Registration in India
To ensure successful Company Registration in India, the following conditions must be met:
- Minimum Two Directors: A Private Limited Company must have at least two directors, with a maximum of 15. At least one director must be a resident of India.
- Register Your Company Name: The chosen company name must be unique and not match any existing companies or trademarks in India.
- Minimum Capital Contribution: While there’s no minimum capital requirement, the company must have a authorized capital of at least Rs. 1 lakh.
- Registered Office: The registered office doesn’t need to be a commercial space; even a rented home can serve as the registered office, provided there’s a No Objection Certificate (NOC) from the landlord.
Online Company Registration Process
Company Registration in Kolkata is simplified and made more accessible for startups. The Ministry of Corporate Affairs (MCA) oversees the registration process with specific guidelines. Here’s a step-by-step guide to Company Registration:
- Prepare and Apply for Digital Signature Certificate: Obtain a Digital Signature Certificate for each director.
- Get Director Identification Number: Apply for Director Identification Number (DIN) for every director.
- Application for Name Availability: Apply for the availability of the chosen company name.
- Filing of E-MoA and E-AoA: File the E-Memorandum of Association and E-Articles of Association to register the Private Limited Company.
- Apply for PAN and TAN: Prepare and apply for the PAN and TAN of the Company.
- Certificate of Incorporation: Once approved, the Registrar of Companies (ROC) will issue the Certificate of Incorporation with PAN and TAN.
- Bank Account Opening: Open a current bank account in the company’s name.
Mandatory Compliances after Company Registration
After successful Company Registration in Kolkata, there are certain mandatory compliances that companies in India must adhere to:
- Statutory Auditor Appointment: Appoint a practicing Chartered Accountant within 30 days of incorporation.
- Commencement of Business: Deposit the capital mentioned in the MOA in a bank, and obtain a commencement certificate from MCA within 180 days of incorporation.
- Income Tax Filing: File income tax return annually in Form ITR-6.
- Annual Return: File MCA annual return annually in Forms AOC-4 and MGT-7.
- DIN KYC: Complete DIN KYC process annually for the directors of the company.
SPICe+ Form: Simplifying Company Registration
SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) is a comprehensive form that streamlines the process of incorporation. It covers name reservation, incorporation, DIN allotment, PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra), and opening a bank account for the company. Here are the documents required for Online Company Registration in India through the SPICe+ form:
- Articles of Association
- Memorandum of Association
- Declaration by subscribers and directors
- Confirmation for the address of the office
- Two months’ utility bills copy
- Certificate of incorporation of the Outer Country body corporate (if applicable)
- Resolution passed by the foreign Company (if applicable)
- Recommendation declared by the promotional Company (if applicable)
- Interest of the directors in other entities (if applicable)
- Nominee’s assent
- Identity proof and residential address of the subscribers and nominees
- Identity proof and residential address of applicants
- Declaration/Resolution of the unregistered companies
- Digital Signature Certificate (DSC)
- Any other document (if required)
Frequently Asked Questions
Q: What are the conditions to include a Private Limited Company?
A: To register a Private Limited Company, there should be 2-200 members, at least 2 directors and shareholders. Each director must have a Director Identification Number (DIN), and PAN card copy of directors/shareholders is required. A passport copy is needed for NRI company stakeholders or sole owners.
Q: Can Company Registration be done on a residential address?
A: Yes, the company needs to provide address proof for incorporation. The Ministry of Corporate Affairs (MCA) allows a residential address to be used as the company’s registered address.
Q: What are MOA and AOA?
A: Memorandum of Association (MOA) defines the constitution, powers, and objects of the company. Articles of Association (AOA) detail all rules and regulations regarding the company’s management.
Q: How is SPICe+ different from INC 29?
A: While both forms expedite the incorporation process, SPICe+ allows for entering previously obtained name approval, which was not possible in INC 29. This minimizes the chances of submission and rejection.
Q: Are PAN and AADHAR mandatory?
A: No, as per the Companies (Incorporation) Third Amendment Rules dated 27th July 2016, the mandatory attachment of proof of identity and residence for subscribers with a valid DIN has been relaxed.
Q: Is it mandatory to file eMOA and eAOA along with SPICe+?
A: Yes, it is obligatory to file eMOA and eAOA if individual subscribers are Indian nationals, or if foreign nationals have a valid DIN, DSC, and business visa.
At MPVD Associates, we specialize in guiding businesses through the intricate process of Company Registration in Kolkata, ensuring adherence to all legal compliances and regulations. Our expert team is dedicated to making your entrepreneurial dreams a reality. Contact us today to embark on your journey toward a successful business venture in Kolkata.