The Ultimate Checklist for Setting Up a Company in India

Setting up a company in India can be an exciting and rewarding endeavor. However, it requires careful planning and adherence to legal and regulatory requirements. To help you navigate the process smoothly, we have prepared a comprehensive checklist that covers all the necessary steps and documents. Whether you’re a budding entrepreneur or an established business looking to expand into the Indian market, this checklist will ensure you have everything in order. Let’s dive in!

Acquiring Digital Signature Certificate (DSC) by the directors and subscribers

The first step in the process is obtaining a Digital Signature Certificate (DSC) for the directors and subscribers of the company. To apply for a DSC, you need to provide the following documents and information:

• Two passport-size photographs of the applicant(s)
• Photo identification proof, such as a copy of the passport (for foreign individuals, it should be apostilled and consularized from the country of origin)
• Address proof, such as a bank account statement, driving license, or utility bill
• Email ID and mobile number of the applicant(s)
• Signed DSC Form

Filing an application in Form SPICe plus for name reservation and incorporation of the Company

Form SPICe plus is an integrated web form that consists of two parts: Name Reservation and Incorporation process.

Part-A: Name Reservation

• Propose a unique name for your company (maximum of two names can be proposed)
• Obtain a No Objection Certificate (NOC) in the form of a resolution from the owner authorizing the proposed company to use its name and registered trademark (to be apostilled from the country of origin for foreign entities)

Part-B: Incorporation Process Provide the following information and documents while filing Form SPICe plus:

• Classify your company as public or private
• Specify the authorized and subscribed share capital details
• Provide details of the number of shares, total amount of share capital, and nominal amount per share
• Specify the number of shares and amount proposed to be subscribed by the subscriber(s)
• Furnish the proposed email address, contact number, and registered office address of the company
• Describe the business activities of the proposed company
• Provide details of every director/authorized representative, including personal information, address, qualifications, and contact details
• Prepare the Memorandum of Association (MOA) and Articles of Association (AOA)
• Submit relevant documents like proof of identity, proof of residence, consent to act as directors, declarations, and authorization letters (specific requirements apply to foreign nationals and non-resident Indians)

The following documents/information are required for the SPICe Plus application:

• Memorandum of Association (MOA) and Articles of Association (AOA)
• Board resolution/authorization from corporate subscribers
• Proof of identity for directors and authorized representatives
• Copy of charter document, Certificate of Incorporation/Registration Certificate, and proof of registered office for corporate subscribers (translated into English)
• Proof of residence for directors and subscribers
• Declarations and consent forms from directors and subscribers
• Copy of authorization from promoters authorizing directors to sign e-forms
• Declaration of interest of first directors in other firms or bodies corporate
• Affidavit for non-acceptance of deposit
• Proof of registered office address (e.g., lease agreement, ownership document, utility bills)

Note:

• Directors who don’t have a Director Identification Number (DIN) can be allotted DIN only after the incorporation of the company.
• At least one director must be a person resident in India.

Agile-Pro (INC-35)

Agile-Pro is an integrated application form that combines the registration process for various government departments. It requires the following declarations and documents:

• GST Declaration (by Authorized Signatory, optional)
• ESIC Declaration, including details of primary business activities, passport-size photographs of all directors, and verification through OTP
• EPFO Declaration (by Primary Owner), along with the scanned copy of specimen signatures of all directors for EPFO registration
• Profession Tax Declaration
• Bank Declaration (by Authorized Signatory)

It’s important to note that the above checklist provides a general overview of the essential steps and documents required for setting up a company in India. The specific requirements may vary depending on the type of company and other factors. Therefore, it is recommended to seek professional advice and consult the relevant authorities to ensure compliance.

By following this checklist, you can streamline the process of setting up your company in India, enabling you to focus on your business goals and growth opportunities. Remember, meticulous planning and adherence to legal procedures will set a solid foundation for your venture.