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Punjab has the potential to be the main engine of economic growth in India, with a booming industrial sector, a developing service sector, and a mix of an aspirant agricultural industry. Additionally, the state also set a phase to become the new international business hub in India due to emerging opportunities in all sectors. As a result of our experience registering more than 5000 firms in India, many people have made it complicated and challenging. However, we found it to be straightforward. 

Basic Conditions for Company Registration in Punjab

Several things must be understood before going for Company Registration in Punjab:-

• In Punjab, a private company must have a minimum of 2 shareholders to be formed, although it can have up to 200 members overall, as per the Companies Act of 2013.
• The shareholders of a private limited corporation should only have limited culpability if it faces financial risk because they are not required to sell their assets to fund the cause.
• To register a corporation online, there must be a minimum of two directors and a maximum of 15 directors. Additionally, the proposed director must be at least 18 years old.
• In Punjab, any foreigner may hold the position of director of a private limited business.
• It is not necessary to have the minimum paid-up capital to register a Private Limited Company. But after the company name of every Private Limited Company should be “Pvt. Ltd.”
• The name of the private limited company needs to be distinctive and distinct from those of any other registered businesses or trademarks. Before registration, it is best to stay away from any offensive names for your planned firm.

New SPICe+ Web Form for Company Registration in Punjab

The SPICe+ Form outlines several requirements for company registration, including name reservation, DIN allotment, incorporation, issuance of PANs and TANs, ESIC and EPFO contributions, profession tax (Maharashtra), and bank account opening. You should be aware that the SPICe + form can also be used to obtain the GSTIN.

Documents Required for Online Company Registration in Punjab for SPICe+ form

Following is a list of documents that are required for Online Company Registration in Punjab for SPICe+ form:-

• Articles of Association
• Memorandum of Association
• Declaration by the Subscribers
• Declaration by the Directors
• Copy of the last two months’ worth of utility bills
• Confirmation of the office address
• Copy of a foreign body corporate proof of incorporation, if applicable
• Declared recommendation by the “Promotional Company”
• A replica of a resolution that the international company has adopted, if applicable
• Proof of the directors’ involvement with other legal or political bodies, if any
• The nominee’s consent in the format required
• Identity and residential address verification for nominees and subscribers
• Identity documentation and applicants’ addresses at home
• The Declaration of Unregistered Companies and Resolution thereupon
• any further paperwork [if necessary]

Documents necessary for AGILE-online PRO’s Company Registration in Punjab:-

The following documents are necessary for AGILE-online PRO’s company registration in Punjab:-

• A copy of the principal place of business operation’s proof of address.
• Proof of appointment of the Goods
• Services Tax Identification Number Authorized

Signatory One of the following documents:

• Letter of Authorization and a copy of the BOD’s resolution
• Evidence of the Managing Committee’s resolution and the Acceptance Letter’s Identity Proof of Authorized Signatory for the Opening of a Bank Account Address
• Authorized Signatory for EPFO Sample Signature

Conditions for Online Company Registration in Punjab for the Declaration in Form “INC-9”

The following are the Conditions for Online Company Registration in Punjab for the Declaration in Form “INC-9”:-

• The electronic presentation of the directors’ and subscribers’ declarations is done in the form of an auto-generated PDF document.
• To register a company, an applicant must submit a recommendation and certification signed by a qualified individual, such as a cost accountant, company secretary, or chartered accountant.

Documents needed as address proof for Online Company Registration in Punjab

The following are the documents needed as address proof for Online Company Registration in Punjab:-

• Voter Card
• Aadhar card
• Passport
• Utility Bill
• Telephone Bill
• Ration Card
• Driving License

Advantages/Benefits

There are numerous advantages of Private Limited Company Registration in Punjab. These Include the Following: – 

• Boost Your Company’s Credibility
• Assist Business Owners with Personal Liability and Protect Them from Other Risks/Losses
• Attracts more clients
• Provides limited liability to protect your company’s assets and eases the process of acquiring bank credits
• Increased financial support and more alluring stability
• Increase the possibility for expansion and growth

Step-by-Step Process

The Ministry of Finance, the Ministry of Corporate Affairs, and the Ministry of Labor & Department of Revenue are three Central Government ministries and departments via which the SPICe+ form is known to dedicate ten services. For the registration of private companies, the new SPICe+ form has been used, which saves time and a lot of paperwork. The forms AGILE-PRO, Spice MOA, and SPICe+ AOA must also be submitted with SPICe+.

Following mentioned is a step-by-step process for Private limited Company Registration in Punjab:-

• On the webpage, select “SPICe+” found under “MCA Services^[1].”
• Select “New Application” Once you’re on the new side tab, you can click “Existing Application” and enter the application number and the name of the proposed or approved company.
• Select “Type of Company”
• Select “Class of Company.”
• Next, select “Category of Company.”
• Then select “Sub-Category of Company.”
• Submit “Part A” next to complete the procedures for name reservation and incorporation.

To check each area, use the separate “check form” provided in Part B. The below-mentioned data is mandatory for Company Registration in Punjab: –

1. Proposed subscribers and directors.

2. Forms concerning PAN and TAN tax registration must be duly filled.

3. The business’s resources

• You must perform a “pre-scrutiny” examination. Following that, you must download Part B in PDF format to attach the “DSC” and complete any necessary forms (SPICe+ are AGILE-PRO, SPICe+AOA, and SPICe+MOA, INC-9 and URC-1) and the Part B application must be submitted together. Following that, a “Service Request Number” (SRN) will be generated to receive payment for “private limited company incorporation.” After the payment is properly received, the forms will be handled.
• If forms collapse because of processing issues, they must be submitted again in the same way.

Conclusion

If you need any legal assistance from professionals on any element of Private Company Registration in Punjab, our BizAdvisors.io group is at your service. Our staff will work with you to make sure that your company is fully registered and operating as intended and that you are in compliance with all legal requirements. It would be great if you made note of the fact that having the registered office located in a commercial area of your state is not required. It implies that your home or place of life might serve the same function as well.

Read our article:Private Limited Company Registration in Gujarat – A Complete Overview