8 Steps of Company Incorporation by SPICe+ Forms

Company incorporation is the legal process of forming a new company by registering it with the relevant government authority. In India, the SPICe+ (Simplified Proforma for Incorporating a Company Electronically Plus) form plays a key role in this process. It helps simplify company registration by combining multiple services into one application. This is useful for entrepreneurs to start a business with less paperwork and effort. In this blog, you will learn about the steps of company incorporation by SPICe+ Forms.

What is SPICe+?

SPICe+ stands for Simplified Proforma for Incorporating Company electronically Plus. This is a user-friendly online form established by the Ministry of Corporate Affairs (MCA) and the Government of India. It simplifies the process of registering a company by combining various services into one application. This form helps to make the business setup faster, easier, and more useful for entrepreneurs.

Key Features of SPICe+

Here is the list of key features of SPICe+:

1. Integrated Web Form:

SPICe+ is a combined online form divided into two parts including Part A and Part B. Part A is used to reserve a company name. Whereas Part B helps with company registration and other related services.

2. Comprehensive Service Offering

SPICe+ Part B offers a wide range of services through a single application, which makes the company registration process simpler. It allows users to apply for company incorporation, Director Identification Number (DIN), Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), and Goods and Services Tax Identification Number (GSTIN). It also includes registrations for Employees' Provident Fund Organisation (EPFO), Employees' State Insurance Corporation (ESIC), and Professional Tax (in applicable states), along with opening a bank account and getting a Shop and Establishment license, wherever required. This saves time and reduces paperwork.

3. User-Friendly Dashboard

This form offers a user-friendly dashboard that helps users smoothly navigate the company registration process. It provides easy access to application status updates and important links all in one place.

4. Real-Time Data Validation

SPICe+ supports on-screen filing with real-time data validation. This ensures that all necessary information is entered correctly before final submission.

5. Pre-Filled Information in Linked Forms:

When users fill out Part A, the system automatically pre-fills the approved name and incorporation details in all linked forms. This includes AGILE-PRO, eMoA (Electronic Memorandum of Association), eAoA (Electronic Articles of Association), and INC-9.

6. Structured Filing Sections:

The SPICe+ form is organised into various sections for users to navigate and input their information systematically.

7. Modification Capabilities

Users can save their entered information and make the changes later in the SPICe+ form. This feature helps applicants review and update their details easily without losing any data.

8. All Validations on the Web Form

SPICe+ performs all essential checks and validations directly within the web form, which makes the process smoother. However, Digital Signature Certificate (DSC) validation is handled separately and not within the form itself.

9. Easy PDF Generation for DSC

After filling out the SPICe+ form, users can conveniently generate a PDF version with a single click. This allows them to attach their Digital Signature Certificates without any hassle.

10. Bank Account Opening

Every new company registered through SPICe+ is required to apply for a business bank account using the integrated AGILE-PRO web form.

11. Auto-Generated Declarations

The SPICe+ system automatically creates declarations for all subscribers and first directors in INC-9 as a PDF. These must be submitted electronically. This helps to make the documentation process faster and more efficient.

Documents Required for Company Incorporation using SPICe+

Below is the list of documents required for Company Incorporation using SPICe+ form:

1. Identity and Address Proof of Directors and Subscribers

• PAN card (mandatory for Indian nationals).
• Aadhaar Card, Passport, Voter ID, or Driving License,
• Latest utility bills (electricity, water, or gas) or bank statements issued within the last two months.

2. Proof of Registered Office Address

• A recent utility bill (electricity, water, or gas) or a copy of the property tax receipt.
• No Objection Certificate (NOC) from the property owner, if the premises are rented.
• Lease or rental agreement (if applicable).

3. Memorandum of Association (MoA) and Articles of Association (AoA)

• Electronic versions (eMoA and eAoA) are filed as linked forms within SPICe+ for most companies.
• Physical MoA and AoA may be required as per specific guidelines for Section 8 companies.

4. Declaration by Subscribers and First Directors (Form INC-9):

Form INC-9 must be digitally signed by all subscribers and first directors.

5. Consent to Act as Director (Form DIR-2)
6. Declaration of Interest in Other Entities
7. Professional Certification

A declaration and certification by a practising professional (Chartered Accountant, Company Secretary, or Cost Accountant) affirming the accuracy of the information provided.

8. Additional Documents for Specific Cases

• NOC or Approval from Sectoral Regulators: If the proposed company name includes regulated words (such as "Bank","Insurance"), approvals from relevant authorities are required.
• Resolution from Existing Entities: In cases of conversion from an LLP or partnership firm, a resolution approving the conversion is necessary.
• Proof of Identity and Address for Foreign Nationals

Steps of Company Incorporation Using SPICe+

Here is the step-by-step process for company incorporation using the SPICe+ form:

Step 1: Access the MCA Portal

You must visit the official Ministry of Corporate Affairs (MCA) portal to begin the company incorporation process.

Step 2: Log in to MCA Services

You need to click on the "MCA Services" and select "Company e-Filing." If you are a new user, you should create an account by entering the required information.

Step 3: Navigate to SPICe+ Form

Once logged in, you need to go to the "Company e-Filing" section and click on the "SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form." Then select "SPICe+ Part A" to reserve your company name.

Step 4: Fill in SPICe+ Part A

In SPICe+ Part A, you need to provide the proposed company name along with other necessary details. Then, submit the form to verify the availability of the name. The MCA system checks for duplicates or conflicts with the name. Once the name is approved, you can proceed to SPICe+ Part B for company incorporation.

Step 5: Fill in SPICe+ Part B

In SPICe+ Part B, you need to enter important details like the type of company (private or public), registered office address, information about directors and subscribers, and capital structure. You must also attach the required documents.

Step 6: Link Other Forms (if applicable)

Based on the services you choose, you may need to connect other forms with SPICe+. These include AGILE-PRO for GSTIN, EPFO, ESIC, and bank account, eMoA and eAoA for company rules, and INC-9 for director and subscriber declarations.

Step 7: Attach Digital Signature Certificates (DSC)

All required forms must be digitally signed by the authorised individuals using their Digital Signature Certificates (DSC). After signing, the Digital Signature Certificates (DSCs) should be properly linked to each corresponding form.

Step 8: Pay Fees

Calculate the applicable fees based on your company’s type and authorised capital. Then, pay the required fees online through the official portal.

Step 9: Submit the Application

Before final submission, you must thoroughly review all the details entered and documents attached to ensure accuracy and completeness. Once verified, apply through the MCA portal. This step officially sends your incorporation request to the Registrar of Companies (RoC) for evaluation and approval.

Step 10: Track Application Status

Once the application is submitted, you can track the status through the MCA portal. The Registrar will review the submitted forms and documents. After approval, the Registrar of Companies (RoC) issues the Certificate of Incorporation (CoI) as official proof of company registration.

Conclusion

SPICe+ offers a highly efficient and user-friendly way to incorporate a company. It helps to save time and effort by combining multiple steps into one platform. This streamlined process supports India’s goal of making business easier and faster to start. By simplifying company registration, SPICe+ encourages more entrepreneurs to start their business confidently, which supports overall economic growth. If you have any queries regarding company incorporation, contact Online Legal India. They have experts to assist you.