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Steps for Company Incorporation in India
1. Choose a Business Structure
- Private Limited Company: Suitable for small to medium-sized businesses, offering limited liability protection to shareholders.
- Public Limited Company: Suitable for large businesses, allowing the company to offer shares to the public.
- One Person Company (OPC): Suitable for single entrepreneurs, providing limited liability protection.
- Limited Liability Partnership (LLP): Suitable for businesses looking for a flexible structure with limited liability protection.
- Sole Proprietorship: Suitable for small businesses, with the owner having unlimited liability.
2. Obtain Digital Signature Certificate (DSC)
- Required for the proposed directors and shareholders.
- Used to digitally sign documents submitted to the Ministry of Corporate Affairs (MCA).
3. Apply for Director Identification Number (DIN)
- Required for all directors.
- Application can be made online through the MCA portal.
4. Name Approval
- Choose a unique name for your company.
- Apply for name approval through the RUN (Reserve Unique Name) form on the MCA portal.
5. Prepare Documents
- Memorandum of Association (MOA): Defines the company’s objectives.
- Articles of Association (AOA): Defines the company’s operational rules.
- Other documents include:
- Identity and address proof of directors and shareholders.
- Address proof of the registered office.
6. File Incorporation Documents
- File the SPICe (Simplified Proforma for Incorporating Company Electronically) form along with MOA, AOA, and other necessary documents on the MCA portal.
7. Obtain Certificate of Incorporation
- Upon approval, the Registrar of Companies (ROC) issues the Certificate of Incorporation.
- This certificate includes the Company Identification Number (CIN).
8. Apply for PAN and TAN
- Apply for Permanent Account Number (PAN) and Tax Account Number (TAN) through the relevant forms on the MCA portal or through designated agencies.
Additional Steps Post-Incorporation
- Open a Bank Account: Open a corporate bank account in the company’s name.
- Register for GST: If applicable, register for Goods and Services Tax (GST).
- Other Licenses: Depending on your business activities, obtain necessary licenses and permits (e.g., Shop and Establishment Act, FSSAI for food businesses).