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How to form a New Company/ LLP?

August 17, 2020

Any two individuals or body corporates can form Company or LLP in India. Formation of new company or LLP is managed by Ministry of Corporate Affairs (MCA). Formation rules & requirements are provided in the Companies Act/ LLP Act. There are no minimum capital requirements for formation. Under the ease of doing business process, MCA has simplified the formation process. Formation process normally starts with checking eligibility of promoters/ directors/ partners & with selection & verification of desired type & name for company/ LLP. At next stage very important process of finalizing & drafting of the objects & internal rules of management needs to be done. This leads to Preparation of Memorandum of Association (MOA), Articles of Association (AOA)/ LLP agreement. Thereafter all documents are required to be uploaded on the website of MCA in the prescribed forms under the digital signatures of promoters & with certification by Company Secretary.  On satisfying the queries & requirements of MCA, it issues incorporation certificate. Date of certificate will be a date of formation of the Company/ LLP.

The entire process of formation of Company or LLP on paper looks very simplified & user friendly, it has various intricacies & dimension.  Since formation &drafting of MOA, AOA, LLP agreement is fundamental to business, it is advisable to take proper professional advice before & during formation process. We at Bizfirst provide proper professional advice on dos & don’ts of formation, on verification of promoters, Drafting of MOA, AOA, LLP agreement. Bizfirst ensures that process of formation of Company or LLP is Executive Experience for you.  Bizfirst has range of smart solutions on offer around formation, post formation, other registration etc.

To know more, connect to our Biz Smart Executive.