Incorporation Services

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Types of Business Entities:

• Private Limited Company: Most popular form; limited liability, easier to raise funds.
• Public Limited Company: Can raise capital from the public; more regulatory requirements.
• Limited Liability Partnership (LLP): Combines benefits of partnership and company; limited liability.
• One Person Company (OPC): Sole owner, limited liability; suitable for single entrepreneur.
• Sole Proprietorship: Owned and run by one person; unlimited liability.
• Partnership Firm: Owned by two or more partners; unlimited liability.

Steps to Incorporate:

• Digital Signature Certificate (DSC): Required for directors; issued by certifying authorities.
• Director Identification Number (DIN): Unique identifier for directors; apply through MCA.
• Name Reservation: Apply through RUN (Reserve Unique Name) service on MCA portal.
• Submission of Incorporation Form: Fill and submit SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) along with required documents.
• Certificate of Incorporation: Issued by Registrar of Companies (ROC) upon approval.

Required Documents:

• Identity Proof: PAN card, passport, or voter ID of directors and shareholders.
• Address Proof: Aadhaar card, driving license, or utility bill.
• Registered Office Proof: Rent agreement, utility bill, or NOC from property owner.
• Memorandum of Association (MoA) and Articles of Association (AoA): Key documents defining company’s scope of work and internal management.

Compliance Requirements:

• Annual General Meeting (AGM): Mandatory for all companies.
• Annual Return Filing: Form MGT-7 for private companies; other forms for LLP and public companies.
• Financial Statement Filing: Form AOC-4 for private companies; other forms for LLP and public companies.
• Income Tax Filing: Corporate tax returns.
• GST Registration and Filing: If applicable.

Advantages of Incorporation:

• Limited Liability: Shareholders' liability is limited to their share capital.
• Separate Legal Entity: Company can own property, sue, and be sued.
• Perpetual Succession: Company continues to exist despite changes in ownership.
• Ease of Raising Capital: Easier to attract investors and raise funds.
• Credibility: Incorporated companies are perceived as more credible and stable.

Cost of Incorporation:

• Government Fees: Vary based on authorized capital and type of company.
• Professional Fees: Charges by CA/CS/lawyers for handling incorporation process.
• Stamp Duty: Applicable on incorporation documents; varies by state.

Post-Incorporation Compliance:

• Statutory Registers: Maintain registers of members, directors, charges, etc.
• Board Meetings: Regular meetings to discuss and approve important matters.
• Tax Filings: GST, TDS, corporate tax, etc.
• Regulatory Filings: As required by MCA, RBI, SEBI, etc., depending on the nature of business.