How to register your startup via INC-29 form
Author : Senior Writer at Chatur Ideas
Posted : 3 years ago
  • How-to-register-your-startup-via-INC-29-form

India ranks 158th on Ease of Starting a Business, and no other can understand the anguish and frustration better than our Indian entrepreneurs. Forming a company has always been an unaddressed pain point for entrepreneurs in India. But thanks to the current government's effort to improve the ranking by introducing the Inc-29 form has given a tremendous relief to the budding entrepreneurs. The INC-29 form is a five-in-one form, which was introduced by Ministry of Corporate Affairs (MCA) in May 2015.

The Integrated Incorporation Form – INC-29 has significantly reduced the time taken to start a company in India by merging the process of getting Director Identification Number (DIN), Incorporation Application and Name Application into one single procedure. So in layman terms now a company/organisation can incorporate a company without succumbing to the long procedure approval of Registrar of Companies (ROC) to reserve the name application.

The intent of this article is to guide an entrepreneur in registering his startup / company, but please be aware that this article is not meant to guide you in choosing which form of organization one should start. Choosing the right form of the business organisation creates a severe impact on business and profits. For an e.g. According to one of the articles from Entrepreneur.com, by just simply forming a Private Limited Company rather than a LLP (Limited Liability Partnership) or OPC (One Person Company), and entrepreneur can increase his or her company valuation by four to five times.

Few Highlights of INC-29 form:

  1. DIN for the second director is not required anymore.

  2. Filing of (INC-1) Name application separately is not required

  3. One can just visit the MCA site and Trademark site to check for the name availability and can propose only one name in the form.

  4. No requirement to fill Forms 7 (Incorporation), INC-22 (Situation of registered office of the company), and DIR-12 (Appointment of the first director)

  5. Directors and Shareholders with DIN are not required to attach any form Address Proof or ID Proof.

  6. Registration fee is Rs. 2000 over and above the additional fee based on the company capital.

  7. Incase of any defects in the form submission, the ROC shall give intimation to correct and resubmit the form within 15 days and only two re-submission will be allowed, so it's advisable to fill the form with your CA.

  8. This is still an optional service, on can opt for older procedures. Once you decide what type of company you wish to form. Follow these fast and simple four steps to register your company

Step No 1)

Obtain the DSC (Digital Signature Certificate)

This certificate is used to ensure the security and the authenticity of the documents filed electronically as per the Information Technology Act of 2000. Please be aware that the DSC can only be issued those agencies, which are appointed by the Controller of Certification Agency (CCA). Few of these agencies are TCS, IDBRT, NIC, nCode Solutions, etc. For more info please click here. An entrepreneur also needs know that these DSC comes with one and two year validity so one needs to keep tab on renewal as well.

Step 2)

Fill in the INC-29 Form

Earlier an entrepreneur was required to fill in the DIN form separately to acquire the director identification number for the company. The INC-29 form is inclusive of the DIN form. If an entrepreneur already has a DIN number then all they need to do is fill in the number in the appropriate box in the form. And for the entrepreneurs who are registering their company for the first time can attach the following documents with the INC-29 form to attain the DIN.

  1. Personal Details, Occupational Details and Educational Qualification

  2. PAN Number – In case of Indian National

  3. Passport Number – In case of Foreign National

  4. Email Address of the Director

  5. Address information of the Director

  6. Proof of Identity – Voters ID Card / Drivers License / Passport / Aadhar Card

  7. Proof of Address – Bank Statement / Electricity Bill / Telephone Bill / Mobile Bill

Step 3:

Filing the name for the company

It is very important to adhere to the Guidelines for Naming a Company, as per Companies Act, 2013 as INC-29 form allows only one name to written in comparison with the earlier norms of providing six names. If the proposed name is not accepted then your entire application can get rejected.

Please keep the following points in mind before proposing the name for company:

  1. Is there any other business in the same name with a Proprietorship or Partnership?

  2. Is the name as per the format mentioned in Companies Act, 2013?

  3. Does the proposed name have any blood relative name?

  4. Is the company name identical or similar to any trademark of the company?

  5. Does your company name require any approvals from the Sectoral Regulators like SEBI or RBI?

  6. Is your company name identical to any foreign company name or LLP?

Step 4:

Incorporation Documents

Last but not the least along with accurately filled INC-29, one needs to also attach the following documents with signatures of all the directors/subscribers.

Incorporation Documents:

  1. Memorandum of Association (MOA)

  2. Articles of Association (AOA)

  3. Affidavit and declaration by first Subscribers and Directors.

  4. Proof for Registered Office Address. – Rental Agreement / Sale Deed.

  5. Copies of utility bill of the registered office address that are not older than 2 months.

  6. If the proposed company name is a filed or registered trademark, then NOC from the trademark applicant or owner must be attached.

To download the INC-29 form click below:

Download INC-29