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What Is Company Registration?

Company registration is a process that is mandatory for any businesses to operate and therefore is a legal recognition of one’s business by the government outlined in the provisions of companies Act, 2013 thereby aiming to comply with the regulatory terms applied.

The whole process of registration is handled by the Ministry of Corporate Affairs( MCA) with the Registrar of Companies (ROC) in each state. This registration will help the businesses to perform their operations legally thereby enjoying the financial protection and various tax reliefs. 

Government Fees for Company Registration in India

• Director Identification Number (DIN): ₹500 per director
• Digital Signature Certificate (DSC): ₹1,500 – ₹2,000 per DSC (varies by vendor)
• Company Name Approval: ₹1,000 (fixed fee)
• Stamp Duty on Memorandum of Association (MOA): State-specific rates based on authorized capital
• Stamp Duty on Articles of Association (AOA): State-specific rates based on authorized capital
• Stamp Duty on SPICe Form: State-specific rates based on authorized capital
• Registrar of Companies (ROC) Fee: ₹500 for companies with authorized capital > ₹15 lakhs
• Post Registration Compliance: State-specific fees for GST registration, professional tax, Shops Act, etc.

Different Types of Company Registration in India

There are 7 types of company registration in India and they are:

1. Private Limited Company (Pvt. Ltd.): It’s a type of company where it exercises limited liability over the shareholders and has certain restrictions on the ownership.

2. Public Limited Company (Ltd.):  A public limited company provides the shares to the public with no specific limit on the shareholders.

3. Partnerships: Partnerships is a type of entity where two or more individuals tend to operate an business complying with the terms specified in a partnership deed 

4. Limited Liability Partnership (LLP):  A limited liability partnership offers all the advantages of a partnership firm and a company that is formed by a minimum of two members .

5. One Person Company (OPC): A company where a single individual is enough to form and can enjoy the benefits of a private limited company.

6. Sole Proprietorship:  Sole proprietorship is a type of entity where the entire operations of a business is managed by a single individual. The owner is liable for the debts and is not a separate legal entity. 

7. Section 8 Company: A non profit organization which is established for promoting arts, commerce, science, sports, education etc.

Who Is Eligible for the Company Registration?

Registering a company in India requires certain documents and procedures to be followed. It provides the company with the freedom of conducting the business legally complying to the rules and regulations stated by MCA.

Eligibility:

• Indian citizens: 18 years or older 

• NRIs : Can register a company in India complying to the Foreign Exchange. Management Act (FEMA) ,ensuring at least one person is an Indian.

• Indian entities: A partnership firm can be converted into a private limited company or register a new company.

• Foreign entities: Can establish their branch offices in India complying to the FEMA regulations and other regulatory bodies.

Criteria:

• Directors: Minimum of 2 directors is required with the maximum number of 15.

• Shareholders: Minimum of 2 shareholders and can have a maximum of 200 shareholders 

• Authorized and paid-up capital: No minimum capital requirements for registration

• Registered office: It is mandatory for the companies to have a registered office in India .
• Business name: The name of the company should be unique and approved by the ROC

• Compliance: It is important for a company to comply with all the rules and regulations stated by the MCA in order to operate.

What Are the Steps to Register a Company in India?

Follow the steps given below to register your company in India:

Step 1: Digital Signature Certificate (DSC)

• Visit the Certifying authorities website
• Fill the required details
• Submit identity and address proof 
• A specified payment to be made 
• Issuance of DSC

Since the whole process of registering a company is online, Digital signatures are required for the proposed directors and the subscribers

Step 2: Visit the MCA website and submit an application through eForm spicE in order to register for Director Identification Number (DIN) 

Director Identification Number is applicable for anyone who wants to be the director of the company 

Step 3: Registration on the MCA portal

• The proposed director have to register on the MCA portal to get access to all the e forms 
• Fill out the SPICe forms and submit on the MCA portal
• Submit 2 proposed names of the company to reserve it in the part A of the SPICe+ form
• If the proposed name is rejected the company can refile another SPICe+ form by paying a prescribed fee
• The name filled in part A SPICe+ forms will be reserved for a period of 20 days within which the company must fill Part B of the SPICe+ form
• Details of the company and directors in the part B of the SPICe+ form, attach documents,DSC check the form and submit 

Step 4: Certificate of Incorporation

• Once the application is filled and submitted with necessary documents, the Registrar of companies will examine the application 
• After verification the ROC will  issue the certificate of the incorporation of the company
• The certificate of incorporation is issued with PAN and TAN as allotted by the income tax department.  

Documents Required for Registering a Company in India

• Proof of Identity: PAN card, passport, or driving license 
• Proof of Address: Utility bills not older than 2 months, rent agreement along with NOC from the landlord or property documents
• Photographs: Passport-sized photographs of directors.
• Name approval application (Form RUN): 2-3 proposed names for the company registered.
• Incorporation Documents (Form SPICe+):
  • Memorandum of Association (MoA): A document containing the objectives of the organization, the activities and the scope of the business.
  • Articles of Association (AoA): A document specifying the internal rules and regulations of the organization, outlining the guidelines for company operations and management.
  • Declaration by Directors and Subscribers: Form INC-9 declaring the compliance with the rules and regulations.
• Digital Signature Certificate (DSC): A digital key issued by certifying authorities 
• Director Identification Number (DIN):Unique identification number allotted to the director of the company. Can be applied through the MCA portal.

Virtual Office Address for Company Registration

A Virtual Office offers businesses the advantage of a professional address, access to meeting rooms, a dedicated administrative support team providing assistance with tasks such as document preparation, data entry, and other administrative needs, all without the need for physical office space. This proves to be a cost-effective solution that allows businesses to solely focus on the growth of their operations.

Why Choose myHQ Virtual Office for your company registration?

When an entrepreneur is ready to launch a new business or relocate their current one, finding the right office space can be challenging. This is where myHQ comes to the rescue, offering virtual office spaces that provide all the benefits of a physical office without the hassle. 

By registering your company with myHQ, you get access to our key services offered and to other benefits thereby easing out the whole process for your business

Key Services Offered by myHQ

• New Company Registration: With myHQ, you gain a new company registration address and a professional mailing address, providing valid proof for your application complete with virtual receptionist services, which enhances your business’s professional image, all without the need for a physical office space.
• GST Registration: GST registration for new businesses or additional places of business (APOB). Alongside GST registration services, myHQ provides a professional mailing address and virtual receptionist services, ensuring that your business operations run smoothly 
• Business Address: A professional mailing address for handling mail and couriers. This address can be used on business cards, letterheads, and other official documents, ensuring efficient management.

With myHQ you can expect:

• Lowest price guarantee,a cost effective solution 
• Fastest Document Delivery in just 5-7 working days 
• An effortless onboarding with Digital KYC and Agreement process
• Money back Guarantee in case of GST/company registration rejection
• Support with GST registration, compliance with necessary documents in assistance of reducing the chances of rejection 

Sign up with myHQ to avail all the benefits with your perfect office space!