In India, there are two companies that are limited by shares; Private Limited and Public Limited Company. Public Limited Company is a company whose securities are traded in the stock...
If you are looking forward to starting your own business and wish to get a private limited company registration then this article will help you to learn everything step-by-step in a detailed manner, to know more keep reading and follow the instructions given below.
What is the Online Procedure for Private Limited Company Registration?
- Obtain a digital signature certificate (DSC) from the certifying authority.
- Look for the availability of the name for your private limited company and file RUN form.
- File incorporation form in SPICE-32.
- Submit your company’s memorandum of association (MOA) and the article of association (AOA).
- Application for the PAN and TAN.
Please note that there would be no prior requirement for obtaining a DIN. It can be simply done by filing the incorporation form.
Here is the detailed Explanation of the above-Mentioned steps
Step 1:-As mentioned above the first step is to obtain a DSC for digitally signing the form for the incorporation of the private limited company. It’s because the private limited company registration is an online process and it requires you to sign the form digitally. It is also mandatory to have your DSC certificate. To obtain your digital signature certificate just reach out to the government recognized authorities that are authorized to issue the digital signature certificates. Give them the details and copies of the documents that they ask for and they will quickly issue your digital signature certificate. Now, you must get either the class 2 or a class 3 digital signature. These both have a difference which is the identification of the applicant. In case of class 2 digital signature, the verification of your submitted details will be verified against the already existing and available data, while, in case of class 3 digital signature, you will be required to physically be present in front of the authorities to prove your identity.
Step 2:- Next step as mentioned in the procedural steps is getting a DIN. The director of the company must have the DIN or director identification number. There are three ways to get a DIN.
Option 1:- File the form number DIN-3. The form will ask for the basic details of the supposed director applying for the DIN. This option is available for those companies that already exist, which also means that the applicants no longer need to file DIR-3 separately, which is now effective after January 2018. So now DIN can be filed within the SPICE form. This could be for up to three directors.
Option 2:- The second option is filing the SPICE form, the DINs through this gets issued easily. The maximum amount of directors that can issue DIN through this option is only three.
Option 3: – The third option is to hand over the job to a consultancy firm that has experts who will just ask for documents and do the job for you.
Step 3:- Now, coming to the third mentioned step of the name approval. This too has a few options, the first option is through the RUN which is a short abbreviation for reverse unique name form. It is an attempt by the ministry of the corporate affairs to ease the name approval process. RUN is a web service for the company incorporation.
Do note the fact that there is no requirement of DSC and DIN if you go by RUN web service and only mandatory thing to have would be an MCA account. This has been in effect since March 23, 2018. And two name suggestions are permitted in this.
Another option is that you only apply for the name approval through the SPICE form INC-32, but please note that through this option only one name can be approved.
Step 4:-The ministry of the corporate affairs introduced the form SPICE INC-32 as a simplified Performa for the purpose of the registration of the private limited company. DSC is required to sign INC-32.
Step 5:- The forms to be filled would be INC-33 for the memorandum of association and form INC-34 for the article of association. Both to be submitted electronically. The e-MOA and e-AOA were introduced for the simplification of the process of the privately limited company registration.
Step 6:- The final step as mentioned above is an application for PAN and TAN. This can also be done through the single SPICE form which is also set for applying for your company’s PAN and TAN. The system is meant to automatically generate these forms for you. Just download them fill and then upload them to the MCA portal with a digital signature.
Whenever the MCA approves your application after review a CIN will be allotted to you which is corporate identification number on your private limited company registration.
You may anytime contact Swarit Advisors if you have any queries in your mind or need the help of experts to get your registration done.