Blog 1: 7 steps we took to set up a private limited company

A summary of steps we took to set up a private limited company:

1. Select a chartered accountant (CA) (i.e., who set up a private limited company in India)

2. Select a name for the proposed company

3. Check name availability for the proposed company

   1. The CA performed this availability check

   2. On availability and approval, I received an official letter from the Office of the Registrar of Companies

   3. The letter mentioned that the name is valid for 20 days. I must incorporate my company within these 20 days

4. Finalise the company directors (minimum 2 for a private limited company)

5. Fill, sign, and submit the relevant documents to the CA (the CA took care of the application filing process)

   1. Aadhar card of directors

   2. Address proof of directors

   3. Pan card of directors

   4. A signed compliance declaration by directors as per template

   5. DIR-2 duly filled and signed by directors (consent to act as a director)

   6. INC-9 duly filled and signed by directors (a declaration)

   7. MBP-1 duly filled and signed by directors (notice of interest by director)

   8. NOC from the owner of the proposed company’s official address

   9. Specimen signature card for registration with Employee’s Provident Fund Organisation

   10. Note: A director will need to apply for a Director Identification Number (DIN)

   11. Optional step: I also applied for a Digital Signature Certificate (DSC)

       1. Know more about DSC from the Ministry of Corporate Affairs website

       2. https://www.mca.gov.in/MinistryV2/acquiredsc.html

6. Documents I received on formation of the company:

   1. PAN allotment letter

   2. TAN allotment letter

   3. Certificate of Incorporation (Corporate Identity Number/CIN & incorporation date)

   4. e-Articles of Association (a pdf file)

   5. e-Memorandum of Association (a pdf file)

7. Approximate charges I incurred based on my experience (in April 2022)

   1. Fee for company name reservation: INR 1000.0

   2. Stamp duty fee for company incorporation: INR 20.0

   3. Stamp duty fee for Memorandum of Association: INR 500

   4. Stamp duty fee for Articles of Association: INR 1500.0

   5. DSC certificate (for my relevant class with validity for 2 years): INR 1500.0

   6. PAN creation charges: INR 66.0

   7. TAN creation charges: INR 65.0

   8. Professional charges: it varies (fees for Chartered Accountant efforts)

      
      

      Jump to blog 100 to refer to the overall product management mind map.

      
      

      All the best! 😊