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8 Steps for Company Registration in Mumbai

company registration in mumbai

Company registration in Mumbai is the first step for starting a business. The government has improved the incorporation process by introducing ‘Ease of Doing Business’. In India, Mumbai is the second most populated metropolitan city after Delhi. It is also famous for entertainment, finance and commercial businesses.

The headquarters of RBI and SEBI both are situated in Mumbai. The Registrar of Companies of Maharashtra (ROC) is present in Mumbai and Pune. The registration process of the company is paperless and filed with the Ministry of Corporate Affairs (MCA) online portal. A Certificate of Incorporation is given by the registrar upon verification of all the submitted documents.

Process for Online Company Registration in Mumbai

The steps involved in the process to register a company in Mumbai are as follows:

Step 1: Applying for Digital Signature Certificate (DSC) as well as Director Identification Number (DIN) for All the Directors of the Company

An online application for DSC is made to the Certifying authority (CA) with copies of identity proof. It is mandatory to have a DSC of Class III. DIN is an 8-digit number that is applied on the MCA website.

Step 2: Application for Name Approval with ROC

The two names are proposed in an application against the application fee for name reservation. The proposed names for Company registration in Mumbai should be as per the name availability guidelines under the Companies Act, 2013.

An example of the name of a private limited company is ABC Private Limited, For One person company is ABC (OPC) Private Limited, and For a Public Limited Company is ABC Limited.

Step 3: Preparation of Company Incorporation Documents like Memorandum and Articles

The memorandum of the company has all information about the objects and powers of the company. The articles have information about the management which is signed by the directors and shareholders of the company.

Step 4: Apply for Mumbai Company Registration through the SPICe+ form, AGILE Pro, Form INC-33 SPICe MOA and INC-34 SPICe AOA.

The Part-A of Company registration contains the following information:

  • Name approval and documents required with the proposed name. The fees for name approval are charged by the Ministry of Corporate Affairs (MCA).
  • Type of company includes producer company, Private company, OPC, Section 8 company, Nidhi company, IFSC Company.
  • Class of Company includes the public company, private company, and One-person company.
  • Category of Company includes Company limited by shares for Pvt Ltd Company registration online, Company limited by guarantee, Unlimited Company.
  • A sub-category of the company includes state government company, non-government company, Subsidiary of a company incorporated outside India, and Guarantee and Association company.
  • Industrial Activity includes the Main division code.

Part B contains the incorporation process. The forms for Company registration in Mumbai must have the information about the following points:

  • The Nature of the Business Activity
  • The Address of the registered office
  • Capital Structure of the Company
  • Number of First-Subscribers to the memorandum of association (MOA) of the Company
  • Information about Non-Individual First Subscribers.
  • Shareholding of directors and shareholders.
  • Particulars of payment of stamp duty
  • Particulars of Nominee
  • Business Code

The documents attached to the form are identity and address proof of the directors and members of the company.

A declaration of the professional must be attached to the form. The form must be digitally signed by the directors and subscribers and a professional either Chartered Accountant/Company Secretary/Cost Accountant.

Step 5: Issuance of Certificate of Incorporation for Company registration in Mumbai by the Registrar.

After the verification of the forms and documents submitted is completed within the prescribed time. The certificate includes the name, address, Corporate Identification Number (CIN) and date of incorporation.

Step 6: Application of Permanent Account Number (PAN) and Tax deduction collection Account Number (TAN) in SPICe+ form allotted by the Income Tax Department. It is applied at the same time of incorporation.

Step 7: Opening of Bank Account of the Company.

The documents required for opening a bank account are a certificate of Incorporation and a memorandum and articles of the company. A copy of the Resolution of the board of directors for Company registration in Mumbai, Power of Attorney granted to a director for transacting the business and a Copy of the Telephone bill.

Step 8: The E-Form SPICe+ has GST registration, EPF registration, ESIC registration, and Professional tax registration.

Requirements For Online Company Registration in India

The requirements for registering a company are given as follows:

1. Name of the Private Company

The name should be chosen as per the nature of activities by the company. There are three factors for choosing a name:

  • Initial Name
  • Main Activity
  • Words for ‘Private Limited Company’ in the last of the name of the company.

The company should check the name availability i.e., free from the cost of Company registration in Mumbai on the Ministry of Corporate Affairs (MCA). The names submitted in the application should not be identical to the already existing name of the company.

2. Captial requirement for the Private Company

While registration of company, one must need to decide the authorised and paid capital of the company that is needed for smooth operation of business. Now according to govt rules there is no minimum captial requirment but one must have some capital to meet the operating expenses

3. Address of Registered Office

The permanent address of the company’s office should be given in the form. The office of the company is the place where main affairs are performed and registers are kept.

4. Details about Members and Directors

A minimum number of two and maximum of 200 members of a private limited company. The following are the requirements under the Companies Act, 2013:

  • DIN is an 8-digit identification number given to the director. Every director has one DIN having lifetime validity.
  • A director should a resident of India.

Documents Required for Company Registration in Mumbai

The documents which are submitted for registration are given below:

1. Documents for Directors and Shareholders

The identity proof and address proof are:

  • Permanent Account Number (PAN)
  • Aadhar card or Driving license
  • Telephone bill not older than two months or Identity card for voting or Passport or bank statement
  • Passport-size photos of every director and shareholder
  • An interest of directors in other companies.

The following documents signed by the shareholders

  • Application for DSC
  • Declaration by subscribers in INC-9

The following documents signed by the directors

  • Form DIR-2 for consent to act for the director
  • Declaration of DIN, in case of already having DIN.

2. Address of Registered Office of Company registration in Mumbai

  • No-objection certificate from the owner
  • The electricity bill for Address proof

3. INC-33: Memorandum of Association having objects of the Company for incorporation and the liability of members.

4. INC-34: Articles of Association having internal by-laws for operations and management of the Company.

Benefits of Company Registration

The following are benefits for Pvt Ltd company registration:

  • Attracting Customers

A private limited company has more customers than another form of business like partnership or proprietorship.

  • Raising funds from Investors

A private company has investors like angel investors and private equity investors.

  • Attracting Employees

The private limited company can attract talented employees. It provides Employee Stock Option Plans (ESOP)

  • Protection of Assets of the Shareholders of Company registration in Mumbai

The liability of the shareholders to personal assets for any risks. The shareholders and directors are not personally liable for business losses.

  • Credibility and Acceptance

The private limited company provides credibility to the business.

Conclusion

The process of Company incorporation provides added advantages for the company. There is no registration fee payable for E-Form filling and stamp duty is applicable.

 

At onlinexbrl.com you will get efficient solutions at reasonable prices for registration of a company in Mumbai. We have advanced business consultations for any issues related to the registration process.

 

Read more about setup business in different cities in india along with list of documents required:- 

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