accuprosys provides you incorporation of a company and company incorporation

1. Incorporation of
Company
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2. For most businesses, especially startups, the
procedure for incorporation of a company may
appear confusing.
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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. 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.
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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.
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5. These include private limited companies,
public limited companies, one person
companies, limited liability partnership, part
IX companies, section 25 companies, and
foreign companies.
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6. The main procedure for incorporation is
almost the same for all these companies,
except for a few minor differences.
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7. Private Limited company
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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.
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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. 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.
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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.
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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.
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These documents
are to be signed and
stamped.

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.
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If everything goes
well, the certificate
of incorporation is
issued by the RoC.

13. Public Limited Company
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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.
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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. Corporate legal services can be sought by
businesses to avoid confusion over the
mandatory and minimum requirements
for company incorporation.
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16. One Person Company
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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.
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Upto fifteen directors
are allowed for a one
person company. Such
a company has all the
benefits of a private
limited company.

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.
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19. Limited Liability Partnership
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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
.
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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. It then has to be filed through eForm 3
with the registrar within 30 days
following company incorporation.
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22. Part IX Company
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23. This company has
seven or more
members. It is
registered under the
Companies Act, 1956,
Part IX.
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Part IX companies
also include joint
stock companies.
These have a
nominal share
capital or
permanent paid
up capital divided
into shares.

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.
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25. Section 25 Company
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26. A section 25 company
is a non-profit
organization that
promotes arts,
science, charity, and
so on.
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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. Form 24A, 1, 18 and 32 also have to be
submitted.
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28. Foreign Company
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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.
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DIN is not required
but the DSC is a
compulsory
requirement.

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.
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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.
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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. 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.
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