Form INC-29 has been introduced by the Ministry of Corporate Affairs (MCA) to streamline the registration process for companies in India. With INC-29, you can obtain a Director Identification Number (DIN), a Name Approval, and an Incorporation application all in one place. With this integration, it is easier to start a company in India since it is a single-window clearance process.
This form is an online application that allows the company to reserve the name, incorporate the new company, and/or request a DIN number. Supporting documents include information about the directors and subscribers, the Memorandum of Association (MOA), and the Articles of Association (AOA), among others. In the event that the company is registered and approved, this form can be used to obtain DIN for a maximum of three directors.
Form INC – 29 can be used by whom?
The following companies can register using the Form:
- Private Ltd Company
- One Person Company
- Public Ltd Company
- Producing Company
How can INC-29 be used to fast track the company’s registration?
Following are the steps for fast-tracking the incorporation of a company using the Integrated Incorporation form INC-29.
Step 1 – Get a digital signature
A digital signature will be required since the incorporation of the company takes place online now. For this purpose, one of the proposed directors of the company needs a Class III Digital Signature. A certifying authority appointed by the MCA can provide this.
A Class III DSC application form must be submitted along with a self-attested copy of a resident Indian’s PAN card and address proof to obtain a Digital Signature Certificate (DSC). In case they live in a non-Commonwealth country, or if they reside in a Commonwealth country, NRIs and foreign nationals would have to get their documents notarised or apostille.
Step 2 – Verify the availability of the company name
According to the Companies Act 2013, the company name must be carefully chosen and comply with its guidelines for naming a company. You can apply only for one name, and if it is rejected, you will have to prepare numerous incorporation documents once again. Please keep these points in mind while applying for a name with INC – 29:
- As per the Companies Act, 2013, confirm that the proposed name is in the correct format.
- If any subscribers own or operate a business in the same name as a proprietorship or partnership, confirm this.
- Ensure that the proposed company name does not contain the name of any blood relatives.
- If a regulatory body such as RBI/SEBI/Others needs to approve the proposed name, contact them.
- It is important to ensure that the proposed company name is not similar to or identical to the name of an existing foreign company or LLP.
- Ensure that the name does not already exist as a registered or pending trademark.
Step 3 – Creating the MOA and AOA
Once the MCA approves the name, they will require further details regarding the proposed company. These details will need to be provided via an AOA and MOA. Both documents must be self-attested.
Step 4 – Attachment of INC-29 documents
Attached to Form INC – 29 are the following documents that must be completed/signed by each director/subscriber:
- MOA (Memorandum of Association)
- AOA (Articles of Association)
- First subscribers and directors’ affidavits and declarations
- A copy of the rental agreement or sale deed must be presented as proof of the registered office address
- A copy of the last two months’ utility bills
Step 5 – Filing INC-29
You can prepare INC-29 as follows:
- a) Directors and Subscribers who possess Director Identification Numbers (DINs) – If any Directors and Subscribers already have a DIN, then it should be entered.
- b) Directors and Subscribers without Director Identification Numbers (DIN) – In the event that there are no Directors and Subscribers with DINs, then the DIN application can be made in the form INC-29 by providing information and documents as follows:
- Information about the person, their education, and occupation
- Director’s PAN Number if he or she is an Indian national
- Passport number of a foreign national
- The Director’s email address
- Director’s contact information
- Electricity bill, phone bill, mobile bill, or bank statement can serve as proof of address
- The following types of identity proves are acceptable: Aadhar cards, passports, driving licenses, and voter ids.
It is important to carefully fill out the form and pay the RoC and stamp duty electronically.
Step 6 – Inspection by the ROC & Issuing of Incorporation Certificate
The ROC will verify the documents. If modifications are needed, they will be notified. If everything is in order, the Certificate of Incorporation will be issued within 7 to 8 working days. A copy of the Digital Certificate will be mailed to the directors.