Latest news blog


Home / Knowledge centre / News
Now you can register a company in India in just 48 hours



now you can register a company in India in just 48 hours

Now you can register a company in India in just 48 hours

On World Labour Day, the Ministry of Corporate Affairs (MCA) introduced a new integrated e-form which simplifies the whole procedure of registering a company in India.

 

The Indian Government has taken a giant leap for start-ups and has eliminated some of the hassles of registering a company in India with the introduction of a new integrated e-form (INC-29), effective from 1 May 2015. This is one of the biggest amendments in the process of setting up a business in India.

The new form replaces a lengthy process to incorporate a company in India. As a result, start-ups are no longer required to fill out a number of different forms and simply have to submit a single form (known as INC-29) for the Name of the Company, Company Incorporation, application for a Director Identification Number (DIN) and to furnish other business related information.

So, at this point, there are two ways you can register a company:

  • The new, fast track method (e-form INC-29) You just need to fill out a single form i.e. INC-29 with a fee of Rs.2000 along with the normal registration fees.
  • The traditional method with the normal filing fees

Here are some of the important points related to the new form INC-29:

  • Submission through the form INC-29 will be managed and processed by a separate department under the control of Ministry of Corporate Affairs. This would enable start-ups to incorporate a company in just 48-hours.
  • You can register the following types of companies with form INC-29:
    • Private Limited Company
    • Limited Company
    • One Person Company
    • Producer Company
  • By filling form INC-29, you can apply for the following:
    • DINs for maximum 3 directors (in case there is a structure of 5 directors, it is recommended to get DINs separately and then apply through INC-29 form).
    • The name of the company (you cannot apply for more than one name with this form; therefore, it is highly recommended to choose the name with more diligence and care).
    • Company registration
    • To provide details of registered office and directors
  • You can revise the draft Articles of Association (AoA) and Memorandum of Association (MoA) attached with INC-29 by filing e-forms INC-30 and INC-31.
  • Two re-submissions are allowed, unlike the traditional method wherein only one submission is allowed.
  • Rejection of one form would result in the rejection of all others as well.
  • You cannot incorporate a section-8 company (non-profit making company) through form INC-29.

Setting up a business in India has often been a daunting task and entrepreneurs have long complained about the difficulties they face. The Indian government is making serious efforts to create a business friendly environment and make it easy to do business in India.

You can download form INC-29 here.

If you’re not sure how to set up a business in India or would like assistance with completion of form INC-29, QX Corporate Advisors will be pleased to help you. 

Please contact Ravi Kurani on +44 845 838 2672 or email contact@qxadvisors.com to discuss further.



Share this post
Related posts

Subscribe to our newsletters to get regular updates from
QX Corporate Advisors.