Company Registration in Mumbai
Registering an entity is the first step in a business quest. Whether you deal with apparel production, deliver timely couriers, or belong to a service industry, registering a company is essential. If you are a business owner looking for guidance regarding company registration in Mumbai, this blog has your back. So let’s dive into the legal implications of registering an entity in Mumbai.
Types of legal structures for company registration in Mumbai
Selecting an apt legal structure is the first step in the company registration process. The legal structure refers to an entity type that adheres to distinct compliances, and liability and imparts varied control to the owner(s)/partners/stakeholders. Some common examples include private limited company, public limited company, LLP, OPC, etc. Let’s take a brief walkthrough of each structure.
OPC (One Person Company)
The concept of OPC was introduced under the Companies Act 2013. It aims to impart improved flexibility, resilience, and stability to businesses owned by a single owner. OPC embraces all the features of the private limited company such as limited liability, perpetual succession, transparent decision-making, clear management, and independent legal liability.
Private Limited Company
It is among the most preferred legal structures in India. Ideally, it is suited to moderately large companies seeking transparent management and definite decision-making. It defines the concept of proprietorship and favors the notion of collective decision-making. A minimum of 2 directors and 7 members are required to constitute such a company.
Limited Liability Company (LLP)
Limited Liability Company aka LLP is a partnership-oriented legal structure mostly preferred by small to medium entities. The decision-making in such an entity remains at the partners’ discretion. Governed by the LLP Act 2008, the MCA underpins such entities’ registration and operational norms.
Check out our web stories: 7 Company Registration Types in India
Public Limited Company
A Public Limited Company accommodates sizeable management and is popular among bigger entities, MNCs, and companies with enlarged operational footprint. Governed by the Companies Act 2013, public limited companies have access to various benefits including public share trading, limited liability, and perpetual succession. Fundraising is not a constraint for such entities since they can be listed on the stock exchange. Unlike private companies, such entities attract a myriad of compliances and auditing requirements.
List of documents concerning company registration in Mumbai
Keep the following documents handy before proceeding with the company registration process:
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Identity and address proof of directors and shareholders
- Passport-sized photographs of directors and shareholders
- Proof of registered office address
- No Objection Certificate (NOC) from the landlord
- Utility bill of the registered office address
- Director Identification Number (DIN) for directors
- Digital Signature Certificate (DSC) for directors
- PAN card of the company
- TAN card of the company (if applicable)
Process concerning the company registration in Mumbai: A 6 Steps Guide
The process concerning company registration in Mumbai is as follows:
Step 1: Online form filling
This step requires you to file an online form viz. SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) on the MCA portal. The said form has two essential parts namely Part A and Part B. The former helps with the company name authentication, while the latter helps secure the company registration.
Step 2: Fill out the AGILE Pro form
AGILE Pro (Application for Goods and Services Tax Identification Number, Employees’ State Insurance Corporation, Employee Provident Fund Organization, and Professional Tax Registration) is an online form used as an annexure to Part B of the SPICe+ application. It helps apply for various registrations including EPFO, GST, ESIC, and professional tax at once.
Step 3: Upload the charter documents
Charter documents refer to the founding paperwork wherein one can find details like vision, mission, objects, internal rules, etc. These documents reinforce the legal identity of the entity and are used during the registration process for review. Once you filled out the SPICe+ form, upload the softcopy of the MOA and AOA.
Step 4: Submit the applicable fee
The successful uploading of documents leads you to the payment page wherein you can submit the registration fee. The fee shall vary depending on the type of legal structure you have chosen.
Step 5: Paperwork inspection
The submitted documents shall undergo inspection performed by the MCA’s dedicated department. Any error or misleading details in the form or dossier can lead to the application rejection. Therefore, double-check everything before uploading.
Step 6: Grant of certification
MCA shall grant the registration certificate to the applicant provided no errors are identified during the inspection process. The grant of incorporation certification shall mark the end of the registration process. Alongside the registration certificate, the authority shall also grant PAN and TAN.
Notable Compliances for LLPs and Companies
Whether your entity is an LLP or any other establishment, the holder of company registration in Mumbai must abide by the following compliances.
| Compliance No. | Compliance Requirement | LLP Act, 2008 | Companies Act, 2013 |
| 1 | Filing of Incorporation Document | A | A |
| 2 | LLP Agreement within 30 days of incorporation | A | NA |
| 3 | Annual Return (Form 11) | A | NA |
| 4 | Statement of Account & Solvency (Form 8) | A | NA |
| 5 | Maintenance of Books of Accounts | A | A |
| 6 | Change in Partner (Form 3) | A | NA |
| 7 | Consent of Partners | A | NA |
| 8 | Designated Partner Identification Number (DPIN) | A | NA |
| 9 | Changes in Registered Office (Form 15) | A | NA |
| 10 | Closure of LLP (Form 24) | A | NA |
| 11 | Filing of Resolutions (if applicable) | A | A |
| 12 | Notice of Appointment of Auditor | A | A |
| 13 | Income Tax Returns | A | A |
| 14 | GST Returns | A | A |
| 15 | Professional Tax | A | A |
| 16 | TDS Compliance | A | A |
| 17 | Secretarial Audit (if applicable) | NA | A |
| 18 | FDI Reporting | A | A |
| 19 | Maintenance of Statutory Registers | A | A |
| 20 | Annual General Meeting (AGM) | NA | A |
| 21 | Board Meetings (if applicable) | NA | A |
| 22 | Minutes of Meetings | A | A |
| 23 | Disclosure of Interest by Partners | A | NA |
| 24 | Compliance Certificate | A | A |
| 25 | Contribution Details (if applicable) | A | NA |
| 26 | Filing of Foreign Assets (if applicable) | A | A |
| 27 | FC-GPR (Foreign Currency-Gross Provisional Return) | A | A |
| 28 | Compliance with Environmental Laws | A | A |
| 29 | Compliance with Labour Laws | A | A |
| 30 | Anti-Money Laundering Compliance | A | A |
Conclusion
Securing company registration in Mumbai is an absolute necessity for any entity seeking to operate legally. It not only helps validate a company’s identity under given legislation but also brings a host of growth opportunities.
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