Basic Documents for Company Incorporation in India

The process of incorporation of a company in India requires the filing of a few documents. These documents are submitted to the Ministry of Corporate Affairs. There are distinct documentation requirements for each business structure and entrepreneurs should learn more about them before starting the registration process.

There are three main company structures that India provides for business registration. Limited liability is offered in the form of Private Limited Companies, and there is a flexible form of ownership. Public Limited Companies can permit investment and stock market listing by the general public. One Person Companies (OPCs) enable single entrepreneurs to enjoy corporate benefits with simplified compliance requirements.

Documentation can be a complicated process for first-time entrepreneurs. However, the knowledge of the documents needed simplifies the registration procedure to a great extent. Read on to learn more.

Checklist for Private Limited Company Incorporation

The most common among start-ups and small companies are the Private Limited Companies. There must be at least two directors and two shareholders in such companies. The incorporation process requires a number of mandatory documents which should be prepared accurately. This includes:   

• DSC (Digital Signature Certificate)
• DIN (Director’s Identification Number)
• Name Availability & Approval
• Memorandum and Articles of Association    
• Minimum Paid-Up Capital (minimum authorised share paid capital should not be less than 1 lakh Indian rupees)
• Address proof, identity proof, passport photographs, utility bills and PAN of shareholders and directors
• NOC from the landlord
   

Checklist for Public Limited Company Incorporation

The Public Limited Companies involve more documentation since they attract funds from the people. Such companies are required to have at least three directors and seven shareholders. Incorporation of a company in India as a public company has additional requirements of compliance. This includes:    

• DSC (Digital Signature Certificate)
• DIN (Director’s Identification Number)
• Minimum Paid-Up Capital (ensure a minimum paid-up capital of at least 5 lakhs rupees)
• Memorandum and Articles of Association
• Prospectus and Disclosure Document
• Consent of Directors (Obtain and file Form 32)
• Evidence of identity, evidence of address, passport photographs, utility bills and PAN of shareholders and directors
• NOC from the landlord

Checklist for One Person Company (OPC) Incorporation

One Person Companies provide a special chance to single entrepreneurs to build corporate entities. The minimum number of directors and shareholders that these companies need is one and the same person may be the director and shareholder. The incorporation of a company in India as an OPC entails easy documentation processes. Such as:

• DSC (Digital Signature Certificate)
• DIN (Director’s Identification Number)
• Name Approval
• Memorandum and Articles of Association    
• Identity proof, address proof, passport photographs, utility bills and PAN of shareholders and directors
• NOC from the landlord

Overall, company incorporation in India is a process that needs to be thoroughly addressed in terms of documentation and compliance issues. There are document requirements that should be met by each structure of business and these should be done correctly.

You can seek the advice of competent individuals on tricky documentation procedures. The incorporation process can be well navigated by legal advisors and chartered accountants. When assisted by professionals, there are fewer chances that the application might be rejected and that all the regulations are followed.

Company Bio

Over the past 40 years, Prakash K Prakash, Chartered Accountants, has helped many individuals residing in countries like Singapore, the USA, Japan, Australia, and the United Kingdom. The firm understands the documentation requirements for incorporation of a company in India.