The incorporation of Companies in India or any foreign companies is regulated by the Companies Act,2013 and gets its approval from CRC, Manesar.
Mumbai being the financial capital of India is well known for its corporate environment and destinations for business. Every year, a large number of professionals and entrepreneurs visit Mumbai to explore new opportunities. Not only this, in Mumbai we enjoy the complete benefits of its geographical location as it neighbours other potential commercial segments of Maharashtra. Trade, commerce, continuous infrastructure development, and many more factors attract the corporate sector while offering varied business opportunities in the city of Mumbai. As Mumbai is the largest and fastest-growing economic hub of Maharashtra, there is an immense scope for business growth. The Govt of Maharashtra has even introduced Startup Registration Facilities which pave the way for new startups in their funding and initial investment. Startups registered in Mumbai also have access to various techno hubs and incubators where entrepreneurs can meet and experience better growth opportunities.
The govt. fees for registration of a company depends on the capital investment and the number of members involved in the incorporation of the company. Taking an example of capital of Rs. 1 lakh and 2 members and place of business is in Maharashtra; it costs around Rs. 1500/-
The whole process of Company registration can be divided into four steps:
Application for Digital Signature Certificate (DSC)
Application for the name availability
File Form Spice+ along with other forms such as E-MOA, E-AOA, AGILE.
Issued certificate of incorporation by ROC with PAN and TAN
Opening a current bank account on the company name and deposit the amount of capital subscribed
Registration of a Company in Mumbai is beneficial as it creates a Legal Entity, ensures Perpetual Succession, provides Limited Liability, gives the ability to Sue or be Sued, and offers its own Borrowing Capacity. Keeping in mind the benefits of company registration, it is highly advisable to go through with the company registration process with the help of CA Pakshal Shah.
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