Incorporation of a Business

Incorporation of a business is an essential element in determining the independent stature of a business establishment. Limiting the liabilities of your business into a Private Limited Company is a difficult involves many compliances. To make your present firm or an altogether new private limited company following steps and documents are required:

 

STEPS FOR COMPANY FORMATION IN INDIA

Obtain Director Identification Number DIN for proposed Directors of the new Company
Obtain Digtal Signature Certificate DSC for proposed Directors of the Company
Filing the proposed name of company for approval to the Registrar of Companies (ROC)
Get the Memorandum of Asociation and Articles of Association printed
Pay stamp duties online
File all incorporation forms and documents online, including  the Memorandum of Association and the Articles of Association.
Obtain the certificate of incorporation
Request and obtain Certificate to Commence Operation, if required
OTHER STEPS FOR SETTING UP BUSINESS IN INDIA
Obtain a company seal
Obtain a Permanent Account Number (PAN) from an authorized franchise or agent appointed by National Securities Depository Services Limited (NSDL) or Unit Trust of India (UTI)
Obtain a Tax Account Number (TAN) for income taxes deducted at source from the Assessing Office in the Income Tax Department
Register under Shops and Establishment Act
Register for value added tax (VAT) before the Sales Tax Officer of the ward in which the company is located
Register for Profession tax
Register with Employees’ Provident Fund Organization
Register with ESIC (medical insurance)
Filing for Government Approval before RBI/FIPB for Foreigners and NRI’s

Required Documents

Scanned copies of the following documents are required from each proposed director
  • PAN Card
  • Address proof (any one of the following documents will suffice – passport, voter ID card, ration card, driving license)
  • Residential address proof (any one of the following documents will suffice provided that they are not older than 2 months – mobile bill, electricity bill, telephone bill, water bill, gas bill, bank statement)
  • Aadhar Card
  • Passport size photograph of proposed director
  • In case proposed office is at a leased property, ‘No Objection Certificate’ from the lessor
  • Property document of the proposed registered office (any one of the following will suffice – rent agreement, lease deed, sale deed)
  • Utility bill (any one of the following will suffice – electricity bill, water bill, telephone bill, gas bill) in the name of proposed registered office, which should not be older than 2 months.