Private Limited Company registration in Mumbai is regulated under the Companies Act, 2013. Firstly, a “company” is a body incorporated under the Companies Act, 2013, or under any previous company law. A Company Registration can be classified into three basic types they are Private Limited Company Registration, Public Limited Company Registration, and One Person Company Registration.  

The private company is often called a Private Limited Company. Just as the name indicates, the liabilities of the company’s owner or shareholders are limited according to the number of shares they hold in the company. They also enjoy the tax benefits given under Income Tax Act, 1961. This article helps in understanding the private company registration in Mumbai. 

Minimum requirement for Private Company Registration in Mumbai

Private Company registration in Mumbai requires the following requirements to be fulfilled:- 

• Minimum 2 Director required and a maximum of 15 directors can be appointed 
• Minimum 2 Shareholders required
• A registered office address is required.
• There is no initial minimum share capital requirement
• All the documents are to be submitted online.

Documents required for Company Registration in Mumbai

For initiating company registration in Mumbai, the following documents should be arranged:- 

1. Copy of PAN Card of directors
2. Passport size photograph of directors
3. Aadhaar Card/ Voter identity card of directors
4. Copy of Rent agreement (If rented property)
5. Electricity/ Water bill (Business Place)
6. Copy of Property papers (If owned property)
7. Landlord NOC (Format will be provided)

Registration process for Company Registration in Mumbai

It requires only 6 steps for Private Limited Company registration in Mumbai. 

Step 1: Apply online for Director Identification Number (DIN)

The first step for Private Limited Company registration in Mumbai is by applying for DIN. DIN is a unique identification number that is given to a director of a company that is incorporated. This service can be availed through the Ministry of Corporate Affairs website. The form for obtaining the DIN is Form DIN-1 through the said website. The number is issued immediately. The authority would scrutinize the documents and approve if satisfied. The authority will issue the permanent DIN. 

Step 2: Obtain Digital Signature Certificate online

The next step for company registration in Mumbai is by obtaining DSC through the certified agencies mentioned on the official website of MCA. Digital Signature^[1] is used to ensure the authenticity or legality of the document submitted by the applicant in electronic forms. Hence, the designated director is required to file and sign any forms with the use of these Digital Signatures. This certificate is received when the application is made by the applicant for Digital Signature. 

For the purposes of filing this form, the DIN application should be approved. The application details entered via the official website of MCA should match the DIR-3 form submitted earlier. The MCA website has a list of Certified Agencies (CA) who has a license to issue DSC. 

Note: The application should be submitted along with the identity and residence proof of the applicant. The respective agency has its own fee amount. 

Step 3: Reserve the company name with the Registrar of Companies (ROC)

For the purposes of company registration in Mumbai, the name reservation or name approval for the company is done with the help of RUN service which is available on the official website of MCA. The applicant should remember the following points while applying: 

·       The name suggested should not be in use by an entity in existence. 

·       The members can propose two names

·       In addition, this process is necessary to fill the form for Private Limited Company Registration in Mumbai  

·       This form requires payment of certain fees which is mentioned on the website.

Step 4: Application for Incorporation

After obtaining the DSC, the SPICe form should be submitted for incorporation with the MCA for company registration in Mumbai. (SPICe: Simplified Performa for Incorporating Company electronically). This form can be divided into two parts and they are as follows: 

·       Part A is about name approval. 

The applicant is not required to obtain the name approval to submit the SPICe Form. The applicant can apply for name reservation through the SPICe+ if they are sure that the name suggested is not in usage or else they have to apply for Name reservation or name approval through the RUN process. 

·       Part B mentions about incorporation process. 

For the purposes of Company registration in Mumbai, the applicant should submit a SPICe form with MOU (Memorandum of Articles) in form INC-33 and AOA (Association of Articles) in form INC-34. 

Step 5: Incorporation 

The Registrar of the company will verify these documents and the Registrar shall issue the Certificate of Incorporation (COI). This certificate consists of the Company Identification Number (CIN) and Permanent Identification Number (PAN). 

Step 6: Obtain a Tax Account Number (TAN)

The applicant can apply for TAN if filed using Form 49B. This form should be given along with a certified copy of the certificate of registration, issued by the respective Registrar of Companies in the state, along with proof of company address and personal identity. Upon satisfaction, the Income Tax Department issues the TAN to the applicant. 

Step 7: Open a current bank account: 

After receiving the certificate of incorporation, the company can open a current account with any bank in the company’s name. This completes company registration in Mumbai.

Step 8: Commencement of Company

After the certificate of incorporation is issued, the company can commence its business. 

Conclusion-

As mentioned above, the Private Limited Company registration in Mumbai involves 8 easy steps. It usually takes 1-7 days to complete this process. This process is completely online and it can be done by following the said steps.

Read our article:Online Private Limited Company Registration in Karnataka: Step by Step Guide