SPICE- The modern way to register your company!admin
Incorporating a company in India has become more easy with newly introduced SPICE- Simplified Proforma for Incorporating Company Electronically
Earlier, to incorporate a company, one needed to fill up several forms such as for obtaining approval of name, acquiring DIN, registering the company & approval of registered office etc.
Introduction of fast track registration form (INC-29) on May 2015 which particularly included all the above forms in one & thus simplified the incorporation process
Through a notification on October 1 2016, MCA has introduced an all-in-one, an even more faster way to get approvals and incorporating a company, the newly introduced SPICE- Simplified Proforma for Incorporating Company Electronically would be the coolest way to register the companies in India
What’s SPICE all about?
Simplified Proforma for Incorporating Company Electronically (SPICE) introduced in October 2016 aims at simplifying the company formation process through new application forms INC-32 for incorporation and INC-33 & INC-34 for Memorandum of Association & Articles of Association.
Through this scheme one can register a company with a single application along-with reservation of name & DIN.
Salient Features of SPICE
1. There is no need to reserve company’s name prior to incorporation
2. No need to apply for DIN separately as it allows 3 directors to apply for allotment of DIN
3. It also allows to apply for PAN, TAN & ESIC registration for the newly formed company.
4. MOA & AOA can be filed electronically
5. You also have the option to first apply for reservation of name through INC 1 and then go for INC 32 as this would be a better option since only one name can be proposed in the SPICE form.
6. This form is digitally signed by directors & certified by practicing professionals.
Documents required for SPICE
- MOA & AOA of the proposed company
- Affidavit & declaration by subscriber & directors
- Proof of office address
- Copies of latest utility bills (not older than 2 months)
- Identity & address proof of subscribers & directors