The Ministry of Corporate Affairs (MCA) has introduced a new form INC-29 through which a new company can now be incorporated quickly in India. The newly introduced form known as Integrated Incorporation Form INC-29 will combine the procedure for getting Director Identification Number (DIN), Name Approval Application and Incorporation Application into a single step.
Prior to the introduction of form INC-29, company incorporation in India takes on average 15 – 30 working days. To incorporate a new company in India, the applicant would have to first obtain Digital Signature (1-2 Days), apply for Director Identification Number (1 Day), apply for Name Approval (3-4 Days), prepare and sign incorporation documents (3-4 Days) and finally apply for incorporation (3-4 Days). With the new form, company incorporation in India can be completed within a week – as many of the steps have been combined.
Private Limited Company Registration, One Person Company Registration, Limited Company Registration and Producer Company Registration can be completed through this new form.
IndiaFilings.com – India’s leading website for company registration has began offering fast track company registrations services in less than a week using Form INC-29. By utilizing the fast track services for company registration from IndiaFilings, Entrepreneurs in India and Abroad will be now able to start a company in India through IndiaFilings.com in less than a week, subject to Government processing times.
Speaking about the development, Lionel Charles, CEO of IndiaFilings.com said “This is great for India. To have a vibrant and growing economy it should be easy to start and manage a business. This new procedure would immensely help Entrepreneurs quickly get their business started, while they can also learn how to value a business that will be useful too.” He also added “It is great to see the Government taking steps to reduce red-tape and providing a welcoming environment for startups and small businesses”.