Things to Consider Before Company Registration in Mumbai

Mumbai: Where dreams come true

The financial capital of India Mumbai has been luring investors for the right reasons. With business-friendly laws, low operational costs, a vast trade network, and a large population to source talent from, it makes good business sense to start a company headquartered here. By following the mandates of the Companies Act,2013 that requires the registration of Limited Companies in Mumbai, with the Registrar of companies, anyone with a good business proposal and shrewd business acumen can venture to start a business in this city of dreams.

Understanding company registration and where it is done?

The major purpose of registration of a Public Limited, Private Limited, LLP, or OPCcompany is to ensure scalable business continuity, irrespective of the lifespan of the individuals incorporating the company. There are varied other reasons such as it becomes easier to raise capital, gives legitimacy and improves trust factor, liabilities of promoters and stakeholders get lessened and the company gets better governance models to run.

To register a start-up or a new company in Mumbai, you need to record it in the Indian official records with the Ministry of Corporate Affairs (MCA). The registration process is an online one, which requires a Digital Signature Certificate (DSC) and Director Identity Number (DIN) to start with.

Essential conditions to register a company

There are a few prerequisites for registering a Public Limited Company in Mumbai, Maharashtra:

·         A minimum of 7 shareholders

·         A minimum of 3 directors

·         DIN for all the registering directors

·         Minimum share capital worth Rs. 5 lacs.

·         At least one of the promoters should be a resident of India.

Mandatory documents required for company registration

Documents needed by individuals:

If the Directors and shareholders are Indian Nationals, the following documents need to be kept ready:

Clear and self-attested scanned copies of:

·         PAN Card

·         Identification proof issued by the Government of India – Aadhaar, Voters’ ID or passport, or driver’s license

·         Six months Bank statements with current address

·         Any utility bills like mobile or gas or electricity with the current address

·         Latest Passport size photograph

·         Director’s Specimen signature on a blank white paper

In the case of Directors and shareholders being NRIsall, the documents should be notarized if the NRI is currently in India or in a Commonwealth country. If he/she is in a non-Commonwealth country, all the documents should be notarized and apostille or attested by an Indian embassy.

Documents needed for the office premises:

Clear and scanned copies of:

·         Notarized rental agreement in English

·         Latest water bill or electricity bill

·         Receipt of the latest rent paid

·         Sale deed or property deed in case of owned property

·         If rented premises from the property owner stating no objection to the use of the property as a registered office by the company

Note:

There are further specifications required for different company types; for instance, for an LLP an agreement has to be drafted to define mutual rights and duties among the partners. For a private limited company, laws are in place for the transfer of shares, etc right at the time of registering. For an OPC various concessions in compliance requirements have been given as it requires only one person to act as a member, shareholder, and director.

 

The process of company registration in Mumbai:

This calls for a methodical approach that can broadly be summarized as follows:

·         Application of DSC and DIN

·         Filing the Name for the Public Limited Company in Mumbai, Maharashtra

·         The submission of MOA & AOA

·         Submitting the application for forming a Public Limited Company in Mumbai, Maharashtra

·         Apply for TAN and PAN

·         Receiving the Incorporation Certificate of Public Limited Company

 

 

The office of company registrars in Mumbai

Though the entire process is online there is a regional office where you can go with your queries:

Registrar Of Companies (ROC Mumbai)

Ministry of Corporate Affairs (MCA)

100, Everest, Marine Drive, Mumbai- 400002.

Phone: 022-22812627/22020295/22846954   Fax: 022-22811977

Email:roc.mumbai@mca.gov.in

 

How an expert consultant makes the process of company registration in Mumbaihassle-free:

With so many clauses, legalities, and procedures registering a company can be a daunting task if you try to do it on your own. Experienced consultants on the other hand are well versed in the processes and can get the registration done for you within lesser time and with minimum worries. They guide you at every step and help you with the documentation and filing nitty gritties.

Incorporate your company easily through experts:

Hiring a consultant, a trusted legal adviser, is a cost-effective, efficient way of company registration in Mumbai. They can take care of all the legal formalities and compliances as defined by the MCA and handhold you till you get your Certificate of Incorporation, PAN, and TAN. You just need to open your current account and you are good to go.

Get your company registration check & incorporation done with Legalo.

Legalo services might just be what you are seeking:

ü  We cover all services from scratch that you may need toregister your company and get it business ready in a very short time.

ü  We have an expert team that keeps itself updated with the latest laws and bye-laws.

ü  Our services can be accessed online and you can keep track on an easy-to-use dashboard.

ü  An excellent support team will help you with your queries throughout the process.

 

Aston Building, 10th Floor, Lokhandwala Complex,

Andheri West, Mumbai, Maharashtra 400053

+919167688129

legalo@legalo.in

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