Online Company Registration in India - An Overview

A company is a voluntary association of individuals formed to carry on business to earn profits or for nonprofit purposes and it is registered under the Companies Act 2013. These persons contribute towards the capital by buying its shares in which it is divided. A company is an association of individuals incorporated as a company possessing a common capital i.e. share capital contributed by the members comprising it for the purpose of employing it in some business to earn profit.

MyRegistration, which Consists of your trusted legal advisor in your nearest place, provides a cost-effective company registration service in India. You may learn how to register your business here. We take care of all legal formalities and fulfill the compliances, as defined by the Ministry of Corporate Affairs. Post-approval of the company registration process, you receive a Certificate of Incorporation (CoI), along with PAN and TAN. Now, you can open a current bank account and begin your business operations.

Documents Required for Online Company Registration

In India, private limited company registration cannot be done without proper identity and address proof. Listed below are the documents accepted by the MCA for the online company registration process:

Identity and Address Proof

  • Scanned copy of PAN card or passport (foreign nationals & NRIs)
  • Scanned copy of voter ID/passport/driving license
  • Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
  • Scanned passport-sized photograph specimen signature (blank document with signature [directors only])

Registered Office Proof

  • Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
  • Scanned copy of the notarized rental agreement in English
  • Scanned copy of no-objection certificate from the property owner
  • Scanned copy of sale deed/property deed in English (in case of owned property)

Note: Your registered office need not be a commercial space; it can be your residence too.

 

Benefits of Private Limited Company

  • Artificial legal person

    A company is an artificial person as it is created by law. It has almost all the rights and powers of a natural person. It can enter into a contract. It can sue in its own name and can be sued.

  • Incorporated body

    A company must be registered under the Companies Act. By virtue of this, it is vested with a corporate personality. It has an identity of its own. Although the capital is contributed by its members called shareholders yet the property purchased out of the capital belongs to the company and not to its shareholders.

  • Transferability of shares

    The shares of the company are easily transferable. The shares can be bought and sold in the stock market.

  • Capital divisible into shares

    The capital of the company is divided into shares. A share is an indivisible unit of capital. The face value of a share is generally of a small denomination which may be Rs 10, Rs 25, or Rs 100.

  • Perpetual existence

    A company has an independent and separate existence distinct from its share holders. Changes in its membership due to death, insolvency, etc. does not affect its existence and its continuity

FAQs on Private Limited Company

The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
All directors must provide identity and address proof, as well as a copy of the PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate must be submitted by the owner of the registered office premises.
Yes, so long as the annual compliances are met, the private limited company will continue to exist. If you do not comply with the requirements, it will go dormant, until it is struck off the register altogether.
Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs of rupees and even lead to the blacklisting of directors.
These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.
Yes, a minimum of two directors are needed for a private limited company. The maximum members can be 200. You can register as a one person company, if you are the sole owner of the company.
There is no minimum capital required for starting a private limited company.
Yes, a salaried person can become the director in a private limited, LLP or OPC private limited company. One needs to check the employment agreement if that allows for such provisions. In a lot of cases, the employers are quite comfortable with the fact that their employee is a director in another company.
No, one cannot convert an LLP into a private limited company as it is not a MCA. The LLP Act, 2008 and the Companies Act, 2013, both don’t have any provisions on conversion of the LLP in a private limited company. However, if one wants to expand their business they can register a new private limited company with the same name. The LLP company needs to just issue a no objection certificate.
MyRegistration can integrate a private limited company in 14-15 days. The time took also depends on the relevant documents provided by the applicant and the speed of approvals from the government. To ensure speedy registration, kindly pick a unique name as the proposed company name and also ensure that you have all the required documents prior to the starting of the registration process.
Yes, the company can be registered at the owner's home address. A copy of the utility bill is required to be submitted.
Yes, it is good to register a family member as a partner. At a later stage one can change this or transfer shares of the directors.
The entire procedure is done online and one does not have to be present at our office or any other place for the incorporation. A scanned copy of the documents has to be sent via mail. They get the company incorporation certificate from the MCA via courier at the business address.
Yes, a NRI or a foreign national can become a director of a private limited company. He or she must obtain a DIN from the Indian RoC. They can also hold a controlling stake in the company. As long as at least one director on the board of directors is an Indian resident.