Procedure For Incorporation of Private Limited Company Through Spice+

The growing Indian economy is luring the foreign investors as well as Indian investors to start the business in this rapid growing nation. To cope up with the increasing rate of incorporations and to ease the business, MCA had constantly come up with some relaxing provisions and also to cut down the average time taken for incorporations. One of such measure is SPICe+.

As name itself mentions, SPICe+ is a simplified and integrated form for all the legal registrations required for starting up a business along with incorporation such as PAN, TAN, GST, ESIC, EPFO, PT and opening of bank account.

THE PROCEDURE THROUGH SPICE+ IS SIMPLER COMPARING TO PREVIOUS VERSIONS, WHICH IS AS FOLLOWS:

1. Acquire DSC of all subscribers;

Note: DSC requirement will be varied if subscribers are non-residents.

2. Apply for reservation of name;

3. Apply for incorporation of the Company;

Note:

a. Reservation of name can be applied even at the time of incorporation.

b. DIN can be applied through incorporation form upto 3 directors

4. Apply for incorporation of the Company;

5. Receipt of Incorporation certificate from RoC;

6. Receipt of e-PAN and TAN;

7. Receipt of other statutory certificates;

8. Co-ordinating with bank branch for opening of bank account.

DOCUMENTS REQUIRED FOR INCORPORATION:

From Subscribers:

1. PAN and AADHAR

2. Certificate of Incorporation and proof of address, in case subscriber is body corporate.

From Directors:

1. PAN and AADHAR;

2. Proof of Identity such as Passport/Voter Identity card/driving license;

3. Proof of Address such as Bank Statement/Electricity bill/Telephone bill/Mobile bill (Director name shall be on such proof)

Note: If subscribers and Directors are non-residents, documents shall be apostillised and notarized.

From Company:

1. Utility bill not older than two months;

2. No-objection certificate from owner;

3. Proof of appointing authorized signatory for GST

From Authorised signatory to PT/GST/ESIC/EPF and opening of bank account:

1. PAN and AADHAR;

2. Soft copy of passport size photo;

POST-INCORPORATION COMPLIANCES:

1. Conduct first Board Meeting within 30 days from the date of incorporation;

2. File form ADT-1 for appointment of first Auditor within 30 days from the date of incorporation;

3. File Form INC-22 for verification of registered office within 30 days from the date of incorporation, in case registered office is not provided at the time of incorporation;

4. File Form INC-20A for commencement of business;