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Online company incorporation is a process of electronic filing of company incorporation documents. A state-of-the art electronic information delivery software system accessed by officially approved software is utilized in the online company incorporation. Authorization of software, presenter, and user of the system is necessary to conduct the process.
Some of the company formation agents like Company Registrations Online Limited were among the initiators who used this type of system. The company is using this system for almost 95% of its total client list, whereas, companies with 'sensitive names' and limited liability partnerships are still processed on paper.
Procedure of EFiling the Form
To obtain the service of online company incorporation, the applicant must have these software loaded in his computer such as Windows 2000/XP, Internet Explorer version 6.0 and above, and Adobe Reader version 7.0.5.
- Download an eForm from the category selected by the client from the portal provided for online company incorporation.
- Read the related instruction kit to know the procedure effectively.
- Fill the downloaded eForm.
- Sign the documents using digital signature.
- Check whether all the mandatory categories and attachments are filled or not.
- Calculation of payment fees is done automatically by the online system.
- Acception and rejection of form are made by the system only.
- Copies of acknowledgement of payment are provided through the system.
In some countries, the validity of the approved name remains for a period of 6 months from the date of approval. Renewal of the name must be done within 6 months after submitting the respective form and fees. Names which are against the guidelines or are allowed by mistake are withdrawn by the authorizing entity before or after incorporation of the company.
Company formation agent provides Director Identification Number (DIN) to an existing director of the company or a person who is expected to become the Director. It is pre-requisite for filing certain documents related to the company.
Benefits of online company incorporation
- The online system helps formation agents to incorporate its maximum number of client within 24 hours Within a span of 6-7 hours the company gets incorporated after placing its order to the formation agent.
- As the information is submitted electronically, the company gets incorporated directly to the required director, secretary, registered office, and shareholders.
- An electronic signature of the client is created using a PIN code created from its personal details The client also has the choice to appoint his nominees to sign the forms.
- No delays happen in opening a bank account as appointment of directors and details of companies are completed at the time of incorporation Previously, bank account opening used to take time because of the time taken for the verification of the directors.
- Also, there is no need to raise stock transfer forms as subscriber shares are held by the appropriate shareholders.
List of Company Formation Agents:
It is seen that different agents have differences in their processes because of their website and software implementation.
Euroconsulta International:
The Company handles the formation of Delaware companies for non-residents and US holding companies. Malta Offshore Companies, Malta ITCs, and Malta holding companies are also its part of formation. In addition to this, the company also handles formation of some European companies located in UK, Cyprus, and Malta.
Euro Cyprus Incorporation Services: The Company handles formation of Cyprus company and provides company incorporation within 24 hours, bank accounts, credit cards, and internet banking.
EuroMalta Incorporation Services:
The company specializes in setting up and managing Malta International Trading Companies (ITC) and Malta Holding Companies (IHC). The company provides company incorporation within 24 hours, bank accounts, credit cards, and internet banking. The company also maintains long-term business relationship with its clients by providing transparency in services and costs to its clients.
Services Provided by Online Company Formation Agents are:
- Speedy completion of the process is among the principal benefits provided through electronic incorporation.
- The staff members of the formation agents are always willing to assist their client via telephone or e-mail.
- The formation agents also fulfill some of additional requirements of clients like re-branding of documentation, alternative delivery instructions and complex share structures with no or less extra cost.
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