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Law Suvidha allows for online business formation in India. The most popular form of legal entity, favoured by millions of Indian entrepreneurs and well-known firms like Flipkart, PhonePe, and Swiggy, is the private limited company.
100% Foreign Direct Ownership (FDI) is permitted in most sectors in India and there is no restriction on foreign shareholding of a private limited company. Hence, most foreign subsidiaries are established in India as private limited company.
Business may be founded with incredibly little funding. There is no set sum, and the shareholders of the newly formed firm can choose how much money to put in. The following are some ideas to keep in mind while establishing the capital structure of the business:
The face value of a share is the price per share with which the company is incorporated. Normally, the face value of share is Rs. 1 or Rs. 10 or Rs. 100 or Rs. 1000 or Rs. 10,000.
Authorised capital is the total value of shares a company can issue to shareholders. Normally, all companies are incorporated with an authorized capital of Rs. 1 lakh or Rs. 10 lakhs. If a higher authorized capital is required, the company would be required to pay additional fees to the Ministry of Corporate Affairs. The authorised capital of a company can be increased at any time after incorporation.
Paid-up capital of a company is the number of shares issued to shareholders for which they have paid or deposited money to the company. Paid-up capital of a company cannot be more than the authorized share capital of the company.
The following are the steps involved in registering a company in India:
To reserve the company name, a request for approval of the company name must first be made to the Ministry of Corporate Affairs. One or two names with commercial aims may be presented in the name approval application. One or two further names may be submitted if a name permission is declined. All name approval requests are typically approved by the MCA in less than 5 business days.
Law Suvidha will secure a digital signature for the Directors from a recognised certifying body. The Directors must provide a copy of their identification documentation and successfully complete a video KYC procedure in order to receive a digital signature. The provided passport and other documents must be apostilled by a nearby embassy if the Director is a foreign person.
Digital signatures have been gathered, the incorporation application in SPICe Form and any pertinent attachments may be sent to the MCA. The company’s Memorandum of Association (MOA) and Articles of Association (AOA) are filed with the application for incorporation. The Incorporation Certificate and PAN of the firm are issued if the MCA deems the incorporation application to be full and acceptable.
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