Company Registration in Mumbai

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Company Registration in Mumbai

Mumbai, the financial capital of India, is a hub for startups and businesses. The Registrar of Companies (ROC) oversees company registration in Mumbai following the Companies Act 2013. Company registration in Mumbai is an important step for any business that wants to run legally and establish itself as a separate legal entity.
Registering a company in Mumbai has many benefits, such as limited liability, access to funding, and legal recognition. When a company has limited liability protection, the owner’s assets are safe from any debts that the company may owe. It is particularly important for small businesses and startups, as it can protect the owners’ assets if they run into financial trouble. Also, registering a business in Mumbai gives it legitimacy and legal recognition, which can help it attract investors and customers. It also provides access to funding from banks, financial institutions, and venture capitalists. Overall, company registration in Mumbai is crucial to establishing and making a business legally compliant.

Basic requirements for Company Registration in Mumbai

  • Shareholders:
The Applicant has to submit the required documents for company registration in Mumbai. There is a list of documents: The Address should be from Mumbai for the company registration process in Mumbai.
  • No minimum capital required:

To register the Pvt. Ltd company no minimum capital is required.

  • Directors:
There should be a minimum of 2 directors and a maximum of 15 directors. At least one director must be an Indian citizen. Any person can hold a valid DIN to become the director of the company.
  • Company's registered office address:
The Address should be from Mumbai for the company registration process in Mumbai.

Requirement of Documents for the Company formation in Mumbai

The Applicant has to submit the required documents for company registration in Mumbai. There is a list of documents: The Address should be from Mumbai for the company registration process in Mumbai.

procedure of Company Registration in Mumbai

Getting DSC Certificate: This is a mandatory step to start a private limited company. DSC means Digital Signature Certificate for the directors and shareholders involved in the company. The main objective of the DSC is to sign all the e-forms.

Getting DIN number: DIN stands for Director Identification Number. Every company director needs to have a DIN to be appointed as a director in the company.

Approval of company name: The next step is the approval of the company’s name. The Applicant has to choose a unique name for the approval of the company’s name. Your company’s name should not be similar to any other company’s name.

Fill out the New SPICe + forms: SPICe is the abbreviation for Simplified Performa for Incorporating Company Electronically. The Government of India, Ministry of Corporate Affairs introduced the new SPICe+ form on 6th Feb 2020 in the Gazette of India. SPICe+ is an integrated Web form offering 10 services by 3 Central Govt Ministries & Departments. (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) and One State Government (Maharashtra), thereby saving as many procedures, time, and costs for Starting a Business in India. This Single form provides many services:

  • PAN and TAN  numbers
  • EMOA and EAOA forms
  • DIN allotment
  • EPFO
  • ESIC
  • GST number
  • Incorporation of company
  • Bank account No

Getting the Incorporation Certificate: After completing the SPICe+ form. The Registrar will check all the documents and issue the incorporation certificate and will allow the CIN number within 5- 7 working days. Moreover, the Applicant will get the incorporation certificate on E-Mail ID.

Opening of Bank Account: After the company gets Incorporated, a Bank Account will be opened in the bank the applicants decide at the time of filing of SPICE+ form. Bank details will be sent on mobile no by the MCA dept and the same will be operative once that bank representative completes all the KYC of the Directors.

Benefits of company registration in Mumbai

  • Increased Commercial Credibility and Acceptance: Due to the public’s and business community’s familiarity with its organizational structure, the Private Limited Company is the most respectable and well-liked corporate entity worldwide.
  • Perpetual Succession: It means that in case of any death or disability or retirement happened by any company’s members, the company’s existence does not end. It remains forever unless and until it is wound up by complying with the provisions of law. 
  • Limited Liability: Every Private Limited company has the benefit of limited liability. It means that the owners will not sell their assets if the company becomes bankrupt. Only the company’s assets will sell.
  • Attracting Employees: Talented employees like to work in well-organized corporate environments. The use of well-structured Employee Stock Option Plans makes it simple for Private Limited Companies to recruit and keep technically skilled employees (ESOP).
  • Separate Legal Entity: Separate legal entity is another benefit for the private limited company. It provides your business’s legal status.
  • Obtaining Funds: A Private Limited Company can take funds from banks and other financial institutions.
All the Above process is a requirement for company registration in Mumbai. Company registration is a complex process but our expert in “Alonika. in” helps you to register your company in Mumbai. So, contact us for more information.

Frequently Asked Questions

Company registration is the process of incorporating a business as a legal entity. It is a legal requirement that protects the company’s rights and provides it with a separate legal identity from its owners.
When a business is registered, it gets a lot of benefits, such as limited liability, access to funding, and tax breaks. It also gives credibility to the business and increases its chances of success.
There are various types of companies in India, such as private limited companies, public limited companies, one-person companies, and limited liability partnerships.
To register a company in Mumbai, you need a Digital Signature Certificate (DSC), a Director Identification Number (DIN), and to file the Memorandum of Association (MOA) and Articles of Association (AOA) with the Registrar of Companies (ROC).
The cost of registering a business in Mumbai depends on several things, such as the type of business, the amount of authorized capital, and the fees charged by professionals. The total cost may range from INR 10,000 to INR 50,000 or more.
For a company to be registered in Mumbai, it needs a PAN card, proof of identity, proof of address, and passport-sized photos of the directors and shareholders. The MOA, AOA, and address proof of the registered office are also necessary.
Yes, a foreigner can register a company in Mumbai. However, they must comply with the Foreign Exchange Management Act (FEMA) regulations and obtain necessary approvals from the Reserve Bank of India (RBI).
In Mumbai, a private limited company must have at least two directors to be registered. A one-person company can have only one director, while a public limited company needs at least three.
Registering a company in Mumbai depends on many things, like what kind of company it is and how complete the documents are. On average, it takes around 10 to 15 working days to complete the registration process.
After a company is registered in Mumbai, a few more things need to be done. These include obtaining a Permanent Account Number (PAN), Tax Account Number (TAN), and Goods and Services Tax (GST) registration. The company also needs to comply with the annual filing requirements, such as filing financial statements and annual returns.
A company in Mumbai has to follow several laws and rules. For example, it has to file annual returns, keep statutory books and registers, and hold board meetings. Non-compliance with these requirements can result in penalties and legal repercussions.
Yes, a person can set up multiple companies in Mumbai if they meet certain requirements. The Companies Act 2013 allows an individual to be a director in up to 20 companies, subject to the limit of ten for public companies.
The company registration certificate in Mumbai is good for as long as the company is in business and follows all laws and rules.
Yes, you can change the company name after registration in Mumbai. However, the ROC must approve the change and conform to the Companies Act 2013.
If a company fails to comply with the rules and regulations in Mumbai, it can result in penalties, fines, and even legal action. Non-compliance can also affect the company’s reputation and credibility.
A private limited company can only have up to 200 shareholders, and the public can’t buy shares. On the other hand, a public limited company can have an unlimited number of shareholders and invite the public to subscribe to its shares.
There is no minimum share capital required for company registration in Mumbai. However, it must mention authorized capital in the MOA and AOA.
No, a company can have only one registered office in Mumbai. However, it can have multiple branches or business locations.
If you don’t follow the laws and rules in Mumbai, you could face anything from fines to jail time, depending on how bad the crime was.
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