There are definite set of policies and procedures to set up a company. In order to form a company, the following are the steps to be adhered without any fail:
- Get approval from Registrar of Companies for the proposed company name
- Prepare the Memorandum of Association
- Prepare the Articles of Association
- Appoint suitable persons to subscribe to Memorandum of Association
- Registration fees to be paid to Registrar of Companies (ROC)
- Get a receipt of Certificate of Incorporation
- Get business commencement certificate from Registrar of Companies(Public Limited Company)
Register name with roc directory during Company Registration
Register name with roc directory is the first and fore most step in any company’s registration process. The proposed company name should get approved from the Registrar of Companies.
Memorandum of Association for Company Registration
Memorandum of Association is a primary blue print of company’s proposed structure and its operation binding certain rules and regulations.
Articles of Association
Articles of Association is a document to be submitted to ROC which takes care of internal affairs of the company and its operation.
Registration fees payment
As per Memorandum, a suitable fees to be paid to ROC
certificate of incorporation is issued by the roc
The last step of any company registration process is obtaining certificate of incorporation after payment of registration fees, certificate of incorporation is issued by the roc.
Documents submission for registration at registration office during company registration:
The following documents are to be produced at the time of forming a company to Registrar of Companies (ROC):
- Memorandum and Articles of Association
- Corporate certificates
- Share certificates
- Seal or Stamp
- Opening bank accounts for Company and Owners
Memorandum and Articles of Association
Memorandum and Articles of Association is a primary blueprint which lay out the rules and regulations of the company and its operations and Articles of Association is a document to be submitted to ROC which takes care of internal affairs of the company and its operation.
Corporate certificates and company registration
Corporate certificates may include the Certificate of Registration, the Certificate of Incorporation, the Certificate of company address etc., will be issued by the registration authorities as a part of registration formalities for future reference.
In case of a public limited company, the company will issue shares to the public. The shares certificate will be issued as a part of representation of the company and are held by the shareholder.
Seal is a kind of device and represents the company signature including name of the company in a circular form and will be attested by a gazette officer.
Registers are the legal requirement to maintain a register of members at the registered office.
Generally, the Company Secretary will maintain the minutes of the meetings of the company’s shareholders and board of directors.
Opening bank accounts
To handle the company’s financial transaction, the company will have to maintain a bank account in its area of business operations.