NKG Experts help our clients navigate through the tough, complex and often changing regulatory requirements in India. Having been behind thousands of registrations over years, Team NKG assists its clients in overcoming various challenges by systematically following a transparent , predictable and efficient regulatory strategy.
An Indian company refers to a company incorporated under the Companies Act, 2013 or any previous company law, having registered office and majority directors who are citizens of India and where at least 50% of the paid-up share capital is held by Indian residents and/or Indian companies.
Company registration in India refers to the process of legally incorporating a business entity under the Companies Act, 2013. The most common types of companies registered are private limited companies, public limited companies, One Person Companies (OPCs), and Limited Liability Partnerships (LLPs). The company registration process involves applying for a Director Identification Number (DIN), digital signature certificate (DSC), name approval, incorporation documents filing, and obtaining the Certificate of Incorporation.
Registering a company makes it a separate legal entity with perpetual succession. It limits the liability of the owners to their investment and makes it easier to raise funds, enter into contracts, open bank accounts and have a corporate framework with tax benefits. Overall, it facilitates smooth business operations in India.
Here are some key terminologies related to Indian companies:
The maximum amount of capital that a company can legally raise through issuing shares.
The amount of capital that has been actually paid or contributed by the shareholders.
An individual or entity holding shares of a company.
A member of the Board of Directors responsible for overseeing the operations and management of a company.
A person who conceives, incubates and brings a business into existence. Promoters hold key positions in the company.
A yearly meeting of shareholders of a company to discuss company operations, policies, and accounts.
An audit conducted annually as per the provisions of the Companies Act to examine the accuracy and reliability of a company’s financial statements.
A legal document that sets out the constitution of a company and the scope of its operations.
It contains the rules, regulations and bye-laws for a company’s internal management.
Unique identification number issued to an existing director or a director at the time of appointment.
Here are the key people/entities who can apply for Indian company registration in India:
An individual citizen of India having proof of identity and address can apply to register a One Person Company (OPC).
Partnership firms comprising of two or more partners can apply to incorporate a private limited company or a limited liability partnership.
A group of at least two individuals like family members, friends or business partners can together apply for company incorporation.
Private companies and public companies can also act as promoters/applicants to incorporate another company as a subsidiary, joint venture or associate entity.
Subject to eligibility criteria, Trusts registered under the Indian Trusts Act and Hindu Undivided Families can also invest in incorporating companies.
Existing LLPs can incorporate another LLP or private/public limited company by acting as promoters.
NRIs holding OCI/PIO status can be part of the promoter group and invest in Indian companies subject to complying with capital, ownership and remittance norms.
So in summary – individuals, entities registered in India and foreigners residing in India are eligible to form LLPs as partners subject to meeting the above criteria. The LLP agreement governs the mutual rights and duties of partners.
Here are the key documents required for Indian company registration:
Additionally, there could be other documents required based on company type and activity such as earlier company registration certificates, registration from other regulators, agreements related to use of IPR or technological capabilities etc.
Foreign investors may also need to submit additional documents and shareholders agreements as applicable. Overall the certificate of incorporation is issued based on submission of applicable documents.
Here are the key fees charged by the Government of India for Indian company registration:
The total registration cost for a private limited company in India can range from Rs. 15000 to Rs. 50000 on average. Overall statutory fees payable to government departments make up a large portion.
Here are the key advantages of Indian company registration:
For the past two decades, NKG has been helping more than five thousand clients worldwide, across the healthcare spectrum, to get their products registered. The dedicated regulatory team of NKG has more than ten years of experience in helping clients cross the hurdles they face while marketing their products to sell or distribute in India.
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