In recent years the government of India has been striving to smoothen the process of doing business in India by revitalizing various laws and procedures in order to impress investors the world over.
The Ministry of Corporate Affairs (“MCA”) has recently introduced the SPICe Form INC-32, or Simplified Proforma for Incorporating Companies Electronically (“SPICe Form”) through the Companies (Incorporation) Fourth Amendment Rules, 2016.
SPICe Forms can help incorporate a company with a single application for the reservation of name, incorporation of a new company and/or application for allotment of DIN (Director Allocation Number).
Once the SPICe Form is processed and found complete, a company shall be registered and a CIN (Corporate Identification Number) will then be allocated, DINs will also be issued to the proposed Directors who do not have a valid DIN. A maximum of three Directors are permitted for the usage of this integrated form for filing an application of the allotment of DIN.
SPICe Forms can incorporate a company quickly by integrating many steps simply into a single process. The following types of companies can be incorporated in India:
1. Section 8 Company (For charitable or not-for-profit purposes)
2. Production Company
3. Private Limited Company
4. Public Limited Company
5. One Person Company
If the proposed name is based on a registered trademark or is the subject matter of an application pending registration under the Trade Marks Act, then it is mandatory to attach the trademark registration certificate or trademark application copy.
The article above represents only a general introduction of the simplified incorporation of companies procedure in India; for further information or to know all the documentation required, please do not hesitate to contact one of our experts at info@dandreapartners.com
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