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Company Incorporation

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Introduction

Private Limited Company is one of the highly recommended ways to start a business in India. To register a private limited company, a minimum of two shareholders and two directors are required.

Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.

Document Required

Identity proof of proposed Directors

Additional ID proof of proposed Directors (any of the following)

Passport
Drivers License
Election ID
Ration Card
Aadhar ID

Proof of residence of proposed Directors (any of the following) these docs must not be older than 2 months

Bank Statement
Electricity Bill
Phone Bill

Registered office proof for proposed registered office

For rental property – NOC & Rent agreement and electricity bill/tax receipt
For own property – NOC & Electricity bill/telephone bill/gas bill/water bill

Deliverables

DSC OF DIRECTORS
DIRECTOR IDENTIFICATION NUMBER (DIN)
CERTIFICATION OF INCORPORATION
CERTIFICATION OF COMMENCEMENT OF BUSINESS
e-MOA
e- AOA
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)
GOODS AND SERVICE TAX (GST) NUMBER
BANK ACCOUNT NUMBER OF NIDHI COMPANY

FAQs

Who can start a Private Limited Company?

There is no restriction on anybody to form a company in India, but there are some special points to be considered while incorporating a Private Limited company.

- The applicant must be over and above the age of 18 years.
- The applicant should not have any criminal background, though they are not barred to form a company, but they need to give various declarations to the ROC..
- The applicant should not be a person with unsound mind.
- Employees are generally not allowed by their employers to form a company and be a director. They may hold shares but cannot take position as director. If you want to open a company, then check your employment agreement and you may also seek permission from the respective employer.
What are the mandatory requirements for Private Company Registration?
Minimum two people are required to start a private limited company in India. In case the company is a subsidiary of a foreign company at least one of the Directors must be an Indian resident. Whatever is the capital amount of your company, you should invest the same within 2 months of incorporation.
- The applicant must be over and above the age of 18 years.
- The applicant should not have any criminal background, though they are not barred to form a company, but they need to give various declarations to the ROC.
- The applicant should not be a person with unsound mind.
- Employees are generally not allowed by their employers to form a company and be a director. They may hold shares but cannot take position as director. If you want to open a company, then check your employment agreement and you may also seek permission from the respective employer.
What are the mandatory compliances after the incorporation of Private Limited Company?
A minimum of 3 Directors and 7 shareholders are required to form a Public limited company. Minimum share capital required is Rs. 5 Lakhs. The capital amount should be invested within 2 months of incorporation.
What are the mandatory compliances after the incorporation of Private Limited Company?
- Every company must obtain a Certificate of Commencement of Business within 180 days of its incorporation.
- The company must maintain statutory registers to be kept at the registered office of the company.
- Every Private Company needs to call a minimum of 4 Board Meeting in one financial year.
- The Annual Filing of the company must be done within 6 months from end of the relevant financial year.

Public Limited Companies are those types of companies where minimum number of members is seven and there is no cap on the maximum number of members. A public limited company has most of the characteristics of a private limited company. A public limited company has all the advantages of private limited company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc.

Identity proof of proposed Directors
- PAN
Proof of address of proposed Directors (any of the following)
- Passport
- Drivers License
- Election ID
- Ration Card
- Aadhar ID
Proof of residence of proposed Directors (any of the following) this document must be less than 2 months old
- Bank Statement
- Electricity Bill
- Phone Bill
Registered office proof for proposed registered office
- For rental property – NOC & Electricity bill/telephone bill/gas bill/water bill
- For own property – NOC & Rent agreement and electricity bill/tax receipt
Photograph of all directors

What does it mean to be a Public Company?
A public company is a company that has issued securities through an initial public offering (IPO) and trades its stock on at least one stock exchange or over-the-counter market.
Who can start a Public Company?
There is no restriction on anybody to form a company in India, but there are some special points to be considered while incorporating a Public company:
- The applicant must be over and above the age of 18 years.
- The applicant should not have any criminal background, though they are not barred to form a company, but they need to give various declarations to the ROC.
- The applicant should not be a person with unsound mind.
- Employees are generally not allowed by their employers to form a company and be a director. They may hold shares but cannot take position as director. If you want to open a company, then check your employment agreement and you may also seek permission from the respective employer.
What are the mandatory requirements for Public Company Registration?
A minimum of 3 Directors and 7 shareholders are required to form a Public limited company. Minimum share capital required is Rs. 5 Lakhs. The capital amount should be invested within 2 months of incorporation.
What are the mandatory compliances after the incorporation of Public Company?
- Every company must obtain a Certificate of Commencement of Business within 180 days of its incorporation.
- The company must maintain statutory registers to be kept at the registered office of the company.
- Every Private Company needs to call a minimum of 4 Board Meeting in one financial year.
- The Annual Filing of the company must be done within 6 months from end of the relevant financial year.

Introduction

Section 8 company is a company licensed under section 8 of Companies Act, 2013. These companies are incorporated with an object to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object.

Requirements

Minimum Requirements for Section 8 Company Registration

Minimum of 2 Shareholders
Minimum of 2 Directors (Both Shareholders and Directors can be the same people)
At least one Director should be an Indian Resident
No requirement of the Minimum Capital
PAN issued by the Income Tax Department is a mandatory requirement for Indian Nationals
Passport is a mandatory requirement for identity proof in case of Foreign Nationals

Documents Required:

(For Proposed directors & Subscribers)

Type	Particulars
Id Proofs	1. Self Attested Copy of Pan Card
	2. self-attested copy of Passport/ Driving License/ Voter Id
Residence Proof	1. Self Attested Copy Of Aadhar Card
	2. self-attested copy of Bank Statement/ Electricity Bill/ Mobile Bill/ Gas Bill (not older than 2 months from the date of application

DSC of all the subscribers
Passport size photograph of all Directors
A latest utility bill of the registered office
NOC from the owner of Premise
Other draft document will be prepared from our side and will be sent for signing

Further Information Required:

email id and mobile number of all the subscribers and directors.

Steps Involved

Acquire DSC
Name Application
Collection and reviewing of all the signed document
Filing of SPICe+ forms with Registrar of company for licence and certificate of incorporation.

ETA: About 15 days (subject to ROC approvals)

Introduction

The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity.
Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.

Documents Required

Identity proof of proposed Directors
- PAN
Additional ID proof of proposed Directors (any of the following)
- Passport
- Drivers License
- Election ID
- Ration Card
- Aadhar ID
Proof of residence of proposed Directors (any of the following) these docs must not be older than 2 months
- Bank Statement
- Electricity Bill
- Phone Bill
Registered office proof for proposed registered office
- For rental property – NOC & Rent agreement and electricity bill/tax receipt
- For own property – NOC & Electricity bill/telephone bill/gas bill/water bill
- For Nominee-
  - MOBILE NO
  - EMAIL ID
  - PAN CARD & AADHAR CARD
  - PASSPORT SIZE PHOTOGRAPH

Deliverables

DSC OF DIRECTORS
DIRECTOR IDENTIFICATION NUMBER (DIN)
CERTIFICATION OF INCORPORATION
e-MOA
e- AOA
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)
GOODS AND SERVICE TAX (GST) REGISTRATION CERTIFICATE
BANK ACCOUNT OF ONE PERSON COMPANY

FAQs

What is a One Person Company (OPC)?
One Person Company is a company that has only one person as its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.
What is the minimum Capital requirement to start an OPC?
An OPC can be started with a minimum authorised capital of Rs. 1 lakh. There is no mandatory requirement for a minimum paid up capital. However when the paid up capital exceeds Rs. 50 lakh, OPC must mandatorily convert to a private limited company. Also, when the average turnover for 3 consecutive years becomes Rs. 2 crore or more, there is a need to convert into a private limited company.

Introduction

Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. Limited Liability Partnership Registration combines the benefits of a partnership with that of a limited liability company.

Documents Required

PAN Card of the Partners
Address Proof of the Partners
Utility Bill of the proposed Registered Office of the LLP
No-Objection Certificate from the Landlord
Rental Agreement Copy between the LLP and the Landlord

Deliverables

DSC OF DESIGNATED PARTNERS
DESIGNATED PARTNERS IDENTIFICATION NUMBER (DPIN)
CERTIFICATION OF INCORPORATION OF LLP
LLP AGREEMENT
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)
GOODS AND SERVICE TAX (GST) NUMBER
BANK ACCOUNT OF LLP

FAQs

What is LLP?
A Limited Liabilty Partnership firm (LLP) is a hybrid structure between a partnership firm & a private limited company where the business is carried out in a corporate framework, guided by terms of the mutually adopted partnership deed.
What are the advantages of registering as a LLP over general Partnership firm?
(a) Liability- In a general partnership firm, partners are personally liable for debts of the business which means that even their personal property may be used to settle the firm’s debts. Whereas, the liability of partners is limited in case of an LLP.(b) Immunity against wrong doings of other partners- Under LLP structure, partners are not responsible for negligence or misconduct of other partners whereas in general partnership firms, partners can be held responsible.

Requirement

Rate is exclusive of GST @18%

No. of Directors: Minimum 2 Directors out of which one must be an Indian resident
No. of Subscribers: A minimum of 2 members (both can be foreigners)

Documents Required

For Subscribers:

Name of Document	INDIAN	FOREIGNER	BODY CORPORATE
Id Proofs	1. Self Attested Copy of Pan Card	Duly Translated & Appostiled Copy of Passport	Certificate of Incorporation of the Company
	2. self attested copy of Passport/ Driving License/ Voter Id	-DO-	Memorandum of Association
Residence Proof	1. Self Attested Copy Of Aadhar Card	A Copy of Bank Certificate	Certificate of Incorporation
	2. self attested copy of Bank Statement/ Electricity Bill/ Mobile Bill/ Gas Bill (not older than 2 months from the date of application	-DO-	-DO-

For Directors:

Name of Document	INDIA	FOREIGNER
Id Proofs	1. Self Attested Copy of Pan Card	Duly Translated & Appostiled Copy of Passport
	2. self attested copy of Passport/ Driving License/ Voter I	-DO-
Residence Proof	1. Self Attested Copy Of Aadhar Card	A Copy of Bank Certificate
	2. self attested copy of Bank Statement/ Electricity Bill/ Mobile Bill/ Gas Bill (not older than 2 months from the date of application	-DO

DSC of all the subscribers
A latest utility bill of the registered office
NOC from the owner of Premise
Board Resolution from the Foreign Holding Company( foreign holding company can hold 99.99% of the shares of the Indian Company )
Other draft document will be prepared from our side and will be sent for signing

Further Information Required:

email id and mobile number of all the subscribers and directors.

Steps Involved

Acquire DSC
Reservation of Unique Name
Collection and reviewing of all the signed document
Filing of SPICe forms with Registrar of company
Filing of necessary documents with other Regulatory Authorities

FAQs

What is the object clause of the company?
An object clause is a provision which states the purpose and range of activities for which the company is carried on.
Why do business objective change?
A business may change its objective over time as it wishes to expand its business over a period of time.
Can a company have two main objects?
Yes, a company can have 2 objects, however it depends whether the activities are related or not. The company may carry on more than one activity at the consent of the member. All such activities are required to be listed under the object clause of the company.

Introduction

Nidhi Company registration is the process of incorporating a type of NBFC called Nidhi. This NBFC is also known as Mutual Benefit Finance Company. Starting a Nidhi company is one of the best options for people who want to commence a finance business with low capital investment. Nidhi companies are allowed to take deposit from its members and lend to its members only.

Documents Required

Identity proof of proposed Directors
- PAN
Proof of address of proposed Directors (any of the following)
- Passport
- Drivers License
- Election ID
- Ration Card
- Aadhar ID
Proof of residence of proposed Directors (any of the following) this document must be less than 2 months old
- Bank Statement
- Electricity Bill
- Phone Bill
Registered office proof for proposed registered office
- For rental property – NOC & Electricity bill/telephone bill/gas bill/water bill
- For own property – NOC & Rent agreement and electricity bill/tax receipt
Photograph of all directors

Deliverables

DSC OF DIRECTORS
DIRECTOR IDENTIFICATION NUMBER (DIN)
CERTIFICATION OF INCORPORATION
CERTIFICATION OF COMMENCEMENT OF BUSINESS
e-MOA
e- AOA
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)
GOODS AND SERVICE TAX (GST) NUMBER
BANK ACCOUNT NUMBER OF NIDHI COMPANY

FAQs

What is Nidhi Company?
Nidhi Company registration is the process of incorporating a type of NBFC called Nidhi. This NBFC is also known as Mutual Benefit Finance Company. Nidhi companies are allowed to take deposit from its members and lend to its members only.
What is the minimum number of members for a Nidhi Company?
Minimum of 7 members is required to start a Nidhi Company out of which three members must be the directors of the Company.
What is the minimum Share Capital required for a Nidhi Company?
A minimum of 5 lakh rupees is required as the equity share capital to start a Nidhi Company. Nidhi Company can’t issue preference shares.

Introduction

A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit.
There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners.

Document Required

Pan cards of proposed Partners
Proof of address of proposed Partners
Proof of residence of proposed Partners
Registered office proof

Deliverables

PROPRIETORSHIP CERTIFICATE
MSME REGISTRATION CERTIFICATE
GOODS AND SERVICE TAX (GST) REGISTRATION CERTIFICATE
BANK ACCOUNT NUMBER OF PROPRIETORSHIP
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)

FAQs

What is meant by Partnership?
Partnership is a form of business organization where two or more people come together to form a business and divide the profits thereof in an agreed ratio. A Partnership is easy to form, and the compliance is minimal as compared to companies.
Is it necessary to register a Partnership Firm?
Registration of partnership firm is optional and at the discretion of the partners. Registration of partnership firm may be done at any time – before starting a business or anytime during the continuation of partnership.

It is always advisable to register the firm since registered firms enjoy special rights which aren’t available to the unregistered firms.

Introduction

A society is an association of several individuals combined using a mutual accord to deliberate, govern and act cooperatively for some communal purpose. Societies are usually registered for the advancement of charitable activities like sports, music, culture, religion, art, education, etc.

Documents Required

1. PAN Card of all the members of the proposed society has to be submitted along with the application.

2. The Residence Proof of all the members of the society also has to be submitted. The following can be used as a valid residence proof:

Bank Statement
Aadhaar Card
Utility Bill
Driving License
Passport

3. Memorandum of Association has to be prepared which will contain the following clauses and information:

The work and the objectives of the society for which it is being established
The details of the members forming the society
It will contain the address of the registered office of the society

4. Articles of Association also have to be prepared which will contain the following information:

Rules and regulations by which the working of the society will be governed and the maintenance of day to day activities
It will contain the rules for taking the membership of the society
The details about the meetings of the society and the frequency with which they are going to be held is to be mentioned
Information about the Auditors
Forms of Arbitration in case of any dispute between the members of the society
Ways for the dissolution of the society will also be mentioned

Steps Involved

REGISTRATION CERTIFICATE OF SOCIETY
GOODS AND SERVICE TAX (GST) NUMBER
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)
MOA AND AOA OF SOCIETY
BANK ACCOUNT NUMBERS
GST IF REQUIRED

Introduction

As per the Indian Trust Act 1882, a Trust is an arrangement where the owner (trustor) transfers the property to someone else (trustee) for the benefit of a third person (beneficiary). Such a property is transferred by the trustor to the trustee along with a proclamation that the trustee should hold the property for the beneficiaries of the Trust.

Trust can be classified into 2 categories:

Public trust – It is a trust whose beneficiaries include the public at large.
Private trust – It is the one whose beneficiaries include families or individuals.

Documents Required

Litigation:

A Trust is governed by Indian Trusts Act, 1882 across India. However, each state can formulate its own Trusts Act to govern such non – profit organizations in its own state.

Furthermore, a Public Charitable Trust has to be registered with the office of the charity commissioner who has jurisdiction over the Trust. Hence, following is the procedure for its registration.

Registration Process:

Selection of name of the Trust
Decide the settlers/ Authors and Trustee of the trust
Formulation of Memorandum or Trust Deed of your trust
Submission of trust deed along with all the required documents like-

Self attested copy of ID and address proof of settler/author and all the trustees
PAN Card
Proof of the registered office address of the Trust (electricity/water bill or registration certificate)
No objection letter signed by the Land owner

Prepare Trust deed on stamp Paper (The value of this stamp paper is of a certain percentage of the total value of the Trust’s property, this percentage varies from state to state.)
In addition to this, you need to pay a fee of Rs. 1100. Out of this amount Rs. 100 is the registration fee and Rs. 1000 are the charges of keeping a copy of the Trust Deed with a sub – registrar.
After receiving a certified copy of the Trust Deed, submit the same along with properly attested photocopies with the local registrar.
Obtain Registration certificate.

12A and 80G Certificates

A Trust or an NGO can acquire 12A certificate from the Income Tax Department. Thus, a Trust acquiring such a certificate is exempted to pay income tax for the entire lifetime on its surplus income.

Also, an NGO must obtain 80G certificate. This certificate allows donors, that is persons or organizations making donations to an 80G certified NGO, to avail deduction. Thus, such a deduction is given to the donors under section 80G of the Income Tax Act.

Conversation

CONVERSION FROM PRIVATE LIMITED TO LLP

As we all know, there are numerous compliances for a registered company under The Companies Act, 2013. A registered limited company in India (Private or Public) has a lot of complex formalities and incurs additional overheads for managing affairs including mandatory board meeting, maintenance of statutory records, filling of e-forms with MCA etc.

On the other hand, LLP is exclusively governed and controlled by the rules, provisions, and regulations provided in the LLP Act of 2008 and the LLP Rules of 2009. The compliances are much simpler as compared to a company incorporated in India. So, it is sometimes viable to convert a small private limited company into an LLP.

After commencement of Companies Act, 2013 cost of compliance has increased many folds in the case of Companies, while an LLP has to comply with a very few compliances.

Documents for Conversation

Proof of Address of Registered office of LLP.
Subscription sheet signed by the promoters.
Notice of Consent & Appointment of Designated Partners with their personal details along with subscriber sheet
Statement of shareholders.
Statement of Assets and Liabilities of the company duly certified as true and correct by the auditor.
List of all the Secured creditors along with their consent to the conversion.
Approval of the governing council (In case of professional private limited companies)
NOC from Income Tax authorities and Copy of acknowledgement of latest income tax return.
Approval from any other body/authority as may be required. (if any)

Introduction

When a business is owned and governed by one person it is called a sole proprietorship. Sole proprietorships are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganized sectors specifically among merchants and small traders.

Documents Required

PAN card
Proof of Identity
Address proof
Proof of place of business
Photograph

Deliverables

PROPRIETORSHIP CERTIFICATE
MSME REGISTRATION CERTIFICATE
GOODS AND SERVICE TAX (GST) REGISTRATION CERTIFICATE
BANK ACCOUNT NUMBER OF PROPRIETORSHIP
PERMANENT ACCOUNT NUMBER(PAN)
TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER(TAN)

FAQs

What is a Sole Proprietorship?
Sole Proprietorship is a “one-man organisation where a single individual owns, manages and controls the business.
What are the benefits of Sole Proprietorship?
One of the primary benefits is ease of formation, since a government registration is not required. There are no fees to be paid for starting a one-man business on your own, and there is no government regulatory paperwork and compliance to be fulfilled. There are no minimum capital investment requirements, and the proprietor has full control and ownership stake.

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CONVERSION FROM PRIVATE LIMITED TO LLP

PROCESS OF CONVERSION

Free Advice upto 15 Mins.