0
Incorporation of
Company
1Accuprosys.com
For most businesses, especially startups, the
procedure for incorporation of a company may
appear confusing.
Accuprosys.co...
This article gives a low-down on the various types
of incorporations as per company law that may
help businesses understan...
Incorporation involves the transformation of
a business into a legal entity which is
recognized by law. A business becomes...
These include private limited companies,
public limited companies, one person
companies, limited liability partnership, pa...
The main procedure for incorporation is
almost the same for all these companies,
except for a few minor differences.
Accup...
Private Limited company
Accuprosys.com 7
Incorporation of company as a
private company requires the
business to have a minimum of
two directors a paid up capital o...
He should check the availability of the
proposed names online and then submit an
application to the Registrar of Companies...
Corporate law firms often assist with name
availability search and also suggest which kinds
of names are appropriate and a...
Applications for digital
signatures have to be
made as well for all
company directors. The
applicant also has to file
othe...
All the forms along with
signed and stamped
documents have to be
submitted to the RoC
along with the registration
fee and ...
Public Limited Company
Accuprosys.com 13
A public limited company raises
capital through issues of shares
and public deposits. For
incorporation as a public limite...
Corporate legal services can be sought by
businesses to avoid confusion over the
mandatory and minimum requirements
for co...
One Person Company
Accuprosys.com 16
The Companies Act of
2013 has made a new
addition - the One
Person Company, to
enable single
shareholders in getting
their...
For incorporation of company as a one
person company, a minimum paid up
capital of one lakh rupees is required. The
proced...
Limited Liability Partnership
Accuprosys.com 19
The registration for
name reservation for
LLP is done by
submitting form 1.
After this, the
applicant has to
submit form 2...
It then has to be filed through eForm 3
with the registrar within 30 days
following company incorporation.
Accuprosys.com ...
Part IX Company
Accuprosys.com 22
This company has
seven or more
members. It is
registered under the
Companies Act, 1956,
Part IX.
Accuprosys.com 23
Part IX...
The same procedure of a private
company incorporation is applied for part
IX company along with a few additional
forms, na...
Section 25 Company
Accuprosys.com 25
A section 25 company
is a non-profit
organization that
promotes arts,
science, charity, and
so on.
Accuprosys.com 26
The i...
Form 24A, 1, 18 and 32 also have to be
submitted.
Accuprosys.com 27
Foreign Company
Accuprosys.com 28
If a foreign company
aims at establishing a
business in India and
wishes to get it
incorporated, it will
have to submit fo...
In addition to these companies,
businesses can also register under sole
proprietorship. However, starting such a
company d...
All the forms can be
obtained from the
Ministry of Corporate
Affairs website. The
website also describes
the step by step
...
Accuprosys is one of the best corporate
legal service companies in India. The
company, based in Hyderabad, has a
good repu...
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Transcript of " incorporation of company"

  1. 1. Incorporation of Company 1Accuprosys.com
  2. 2. For most businesses, especially startups, the procedure for incorporation of a company may appear confusing. Accuprosys.com 2 Various corporate law firms offer corporate legal services that not only carry out all the tasks associated with incorporation of a company but also offer corporate advisory services to assist businesses in deciding which type of incorporation applies to which kind of company.
  3. 3. This article gives a low-down on the various types of incorporations as per company law that may help businesses understand the process of incorporation in India. Accuprosys.com 3
  4. 4. Incorporation involves the transformation of a business into a legal entity which is recognized by law. A business becomes a separate corporate entity after incorporation. There are various types of companies that a business can get incorporated as. Accuprosys.com 4
  5. 5. These include private limited companies, public limited companies, one person companies, limited liability partnership, part IX companies, section 25 companies, and foreign companies. Accuprosys.com 5
  6. 6. The main procedure for incorporation is almost the same for all these companies, except for a few minor differences. Accuprosys.com 6
  7. 7. Private Limited company Accuprosys.com 7
  8. 8. Incorporation of company as a private company requires the business to have a minimum of two directors a paid up capital of at least one lakh rupees. A private limited company is that company which raises capital through private shares or personal deposits. Accuprosys.com 8 In order to get a public company incorporated as per company law, the applicant is first required to propose a minimum of one and a maximum of six names for the proposed company.
  9. 9. He should check the availability of the proposed names online and then submit an application to the Registrar of Companies (RoC) so that the name of the company can be approved and registered. Accuprosys.com 9
  10. 10. Corporate law firms often assist with name availability search and also suggest which kinds of names are appropriate and acceptable for the company. After the name is registered, the applicant has to apply for a Director Identification Number (DIN) that is to be assigned to each of the company's directors. Accuprosys.com 10
  11. 11. Applications for digital signatures have to be made as well for all company directors. The applicant also has to file other forms such as form 1, form 18 and form 32. Arrangements will also have to be made for the Articles of Association and the Memorandum of Association. Accuprosys.com 11 These documents are to be signed and stamped.
  12. 12. All the forms along with signed and stamped documents have to be submitted to the RoC along with the registration fee and the company name availability letter issued at the time of name registration. Accuprosys.com 12 If everything goes well, the certificate of incorporation is issued by the RoC.
  13. 13. Public Limited Company Accuprosys.com 13
  14. 14. A public limited company raises capital through issues of shares and public deposits. For incorporation as a public limited company, the business needs to have a minimum of three directors, seven subscribers and five lakh rupees minimum paid up capital. Accuprosys.com 14 The procedure for incorporation of a public limited company is the same as that for a private company except that additional forms (form 29 and form 20) have to be submitted along with Statement in Lieu of Prospectus.
  15. 15. Corporate legal services can be sought by businesses to avoid confusion over the mandatory and minimum requirements for company incorporation. Accuprosys.com 15
  16. 16. One Person Company Accuprosys.com 16
  17. 17. The Companies Act of 2013 has made a new addition - the One Person Company, to enable single shareholders in getting their businesses incorporated. In such as company, there is only one shareholder who can also be the company's director. Accuprosys.com 17 Upto fifteen directors are allowed for a one person company. Such a company has all the benefits of a private limited company.
  18. 18. For incorporation of company as a one person company, a minimum paid up capital of one lakh rupees is required. The procedure for incorporation is the same as private limited company. Accuprosys.com 18
  19. 19. Limited Liability Partnership Accuprosys.com 19
  20. 20. The registration for name reservation for LLP is done by submitting form 1. After this, the applicant has to submit form 2 for incorporation of company . Accuprosys.com 20 Details of partners and their consent to act as partners is to be declared in this form. Following this, an LLP agreement is made under Section 23 of the LLP Act.
  21. 21. It then has to be filed through eForm 3 with the registrar within 30 days following company incorporation. Accuprosys.com 21
  22. 22. Part IX Company Accuprosys.com 22
  23. 23. This company has seven or more members. It is registered under the Companies Act, 1956, Part IX. Accuprosys.com 23 Part IX companies also include joint stock companies. These have a nominal share capital or permanent paid up capital divided into shares.
  24. 24. The same procedure of a private company incorporation is applied for part IX company along with a few additional forms, namely - form 37 and 39. Accuprosys.com 24
  25. 25. Section 25 Company Accuprosys.com 25
  26. 26. A section 25 company is a non-profit organization that promotes arts, science, charity, and so on. Accuprosys.com 26 The income of a section 25 company is not distributed among the company members. For incorporation of company, an eligible non-profit business has to file form 1A for name reservation and approval followed by application for DIN and digital signature certificate DSC.
  27. 27. Form 24A, 1, 18 and 32 also have to be submitted. Accuprosys.com 27
  28. 28. Foreign Company Accuprosys.com 28
  29. 29. If a foreign company aims at establishing a business in India and wishes to get it incorporated, it will have to submit form 44 with the digital signature of an authorized representative. Accuprosys.com 29 DIN is not required but the DSC is a compulsory requirement.
  30. 30. In addition to these companies, businesses can also register under sole proprietorship. However, starting such a company does not require registration although other requirements such as licenses, import export code, etc have to be taken care of. Accuprosys.com 30
  31. 31. All the forms can be obtained from the Ministry of Corporate Affairs website. The website also describes the step by step procedure for company incorporation. Accuprosys.com 31 The forms along with documents can be submitted online. It is advisable to avail corporate advisory services for company incorporation to be able to get a business incorporated without major hurdles.
  32. 32. Accuprosys is one of the best corporate legal service companies in India. The company, based in Hyderabad, has a good reputation and is going strong since its establishment. Accuprosys.com 32
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