Form INC-29 Fast Track Company Registration
To simplify and fast track the procedure for company registration in India, the Ministry of Corporate Affairs (MCA) has introduced Form INC-29 – Integrated Incorporation Form. Form INC-29 Company Registration has merged the process of getting Director Identification Number (DIN), Name Approval and Incorporation application into one single process – thereby significantly reducing the time taken to start a company in India. In this article, we look at the Form INC-29 and the procedure for fast track company registration in India using Form INC-29.
EForm INC-29 deals with the single application for reservation of name, incorporation of a new company and/or application for allotment of DIN. This eForm is accompanied by supporting documents including details of Directors & subscribers, MoA and AoA etc. Once the eForm is processed and found complete, company would registered. Also DINs gets issued to the proposed Directors who do not have a valid DIN. Maximum three Directors are allowed for using this integrated form for allotment of DIN while incorporating a company.
Companies Registered using Form INC-29
The following types of companies can be registered using Form INC-29:
- Private Limited Company
- One Person Company
- Limited Company
- Producer Company
Procedure for Fast Track Company Registration using Form INC-29
Step 1: Obtain Digital Signature
To file Form INC-29, the digital signature of one of the Directors will be required. Hence, Digital Signature must be obtained for one of the proposed Directors of the Company. Class 2 Digital Signature will be required for filing form INC-29 and digital signature can be obtained from www.complianceindia.co.in.
To obtain Digital Signature, the signed Digital Signature form along with a self-attested copy of PAN Card and Address Proof must be submitted.
Step 2: Prepare Form INC-29
Along with the application for Digital Signature Certificate, Form INC-29 can also be prepared as follows:
Director cum Subscribers having DIN Number
In case there are any Director cum Subscriber who already possess DIN, then the DIN Number of those person can be entered in the appropriate field.
Directors cum Subscribers NOT having DIN Number
In case there are any Director cum Subscriber who does not have DIN, then the DIN application can be made in the Form INC-29 itself by submitting the following information and documents:
- Personal Details, Occupational Details and Educational Qualification
- PAN Number – In case of Indian National
- Passport Number – In case of Foreign National
- Email Address of the Director
- Address information of the Director
- Proof of Identity – Voters ID Card / Drivers License / Passport / Aadhar Card
- Proof of Address – Bank Statement / Electricity Bill / Telephone Bill / Mobile Bill
Name for the Company
Only one name can be provided while using INC Form 29. Therefore, it is important that the name provided be strictly in accordance with the Guidelines for Naming a Company, as per Companies Act, 2013. In case the proposed name is not accepted while using Form INC-29, then the application would be rejected and many of the incorporation documents would have to be freshly prepared. The following are important points to be kept in mind while applying for name using Form INC-29:
- Is the proposed company name provided as per Companies Act, 2013 in the correct format?
- Are any of the subscribers carrying on business in the same name with a Proprietorship or Partnership?
- Does the proposed company name contain name of any blood relative?
- Does the proposed company name require any approval from Sectoral Regulator like RBI or SEBI or others?
- Is the proposed company name identical or similar to an existing company name or LLP name of foreign company name?
- Is the proposed company name identical or similar to a filed or registered trademark?
Incorporation Documents to be attached with Form INC-29
The following incorporation documents must be prepared, signed by the Directors/Subscribers and attached with Form INC-29.
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Affidavit and declaration by first Subscribers and Directors.
- Proof for Registered Office Address. – Rental Agreement / Sale Deed.
- Copies of utility bill of the registered office address that are not older than 2 months.
- If the proposed company name is a filed or registered trademark, then NOC from the trademark applicant or owner must be attached.
In addition to the above documents, additional documents may have to be attached on a case to case basis.
To start or manage a business in India, visit www.complianceindia.co.in.