What is Company Incorporation?
Incorporation is the process of formally forming a new corporation or business. A legal document known as a certificate of incorporation, which serves as a formal declaration of the existence of the business, is obtained as part of this process, along with business registration with the appropriate government agency. A few benefits of incorporating a corporation include limiting personal liability for shareholders, separating the company's assets and finances from those of the founders, and making it easier to raise money by issuing stock.
Indian new company formation is governed by the Companies Act of 2013. Corporations must be incorporated and registered with the Registrar of Companies in India (ROC). Throughout the incorporation procedure, the business must provide the ROC with all necessary papers, including the Memorandum of Association (MOA) and Articles of Association (AOA), and obtain a Certificate of Incorporation (COI) as proof that the company is registered and incorporated under the Companies Act.
Company Incorporation process in Delhi
The 2013 Companies Act in India governs the procedure for forming a business. The procedures for forming a business in India include:
1. Getting Director Identification Numbers (DINs) and Digital Signature Certificates (DSCs) for the potential firm directors.
2. Choosing an original name for the business and getting the Registrar of Companies to approve it (ROC).
3. Creating and submitting the incorporation paperwork, such as the articles of association and the memorandum of association, to the ROC.
4. Having the ROC issue you a Certificate of Incorporation (COI), which is evidence that the business has been registered and established in accordance with the Companies Act.
5. Getting the company's PAN and TAN and creating a bank account in its name.
6. Fulfilling other legal formalities, such as registering the business for the GST and acquiring any other licenses and permissions.
The company incorporation process typically takes 15 to 20 days to complete.
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