SPICe which is also known as Simplified Proforma for Incorporating a Company Electronically is a complete form through which an application for any kind of name reservation, incorporation of any company, allotment of any director identification number or for application for any permanent account number/tax deduction account number is done.

Any person who does not have a director identification number and proposes to become a first director in a new company shall have to make an application through the SPICe+ Form. The applicant is needed to attach the identity proof and address proof along with the application. Director identification number or DIN would be assigned to the applicant only after acceptance of the form.

How to register a new company through the SPICe+ Form?

A new genre of SPICe is launched by The Ministry of Corporate Affairs also known as (MCA) in short. Under the SPICe Company Registration process, provides incorporation of the following:

• Assignment of Directors Identification Number (DIN)

• Name acceptance

• Certificate of Incorporation

• Permanent Account Number (PAN)

• Tax Deduction Account Number (TAN)

The process for obtaining the director's identification number, incorporation of name reservation, PAN, and TAN are punched in a single step with the assistance of the SPICe+ Form, which fully integrates the company registration into one single step. It also consolidates the procedure of getting director identification number and tax deduction account number into the same step, lessening the number of forms filed.

The Ministry of Corporate Affairs or MCA has smoothened the changes in the process of online registration of Private Limited Company, which are installed from 26th January 2018 onwards. The changes that have been bought in have to lead to considerable changes in the process of incorporation of companies, which are as follows:

• One such remarkable change to be mentioned is the change of the form for the approval of a name from e-web to a web form.  

• Additionally, the directors of the company are not allowed to make an application for their acquisition, and the DIR-3 form is suspended. The concerned company will be applying to obtain the DIN of the individual. Therefore, the company in which an individual is offered to be appointed shall be needed to make an application while filing an appointment form.

• SPICe+ Form permits the application of a maximum of 3 new DINs.

Fast Track Company Registration 

A fast track company registration can be done by the SPICe+ Form under the following circumstances:

Digital Signature- will be needed as the incorporation of the company is now done online. Hence the foremost step is to acquire the Digital Signature for one of the suggested directors of the Company.

Availability of the name of the Company- The name of the company must be accurately chosen and must be in obedience to the guidelines for naming a company according to the Companies Act 2013.

Drafting of Memorandum of Association and Article of Association- On acceptance of the name by the Ministry of Corporate Affairs, the definition of the suggested company will be required by the MCA. These will be given through the MOA and AOA. Both the documents should be self-attested.

Documents that are required- Documents that are required to be attached are MOA and AOA, declaration and affidavit by the foremost subscribers and directors, the registered office address proof, rental or sale agreement and lastly copy of the utility bills of the last two months.

Filing of INC-29- After the filing of INC-29, verification by registrars of company and certificate of issue of incorporation is provided by the authorised signatory.

Conclusion

The above-mentioned procedures are required to register a new business or fast track company by the SPICe+ Form. The SPICe+ Form has made registration of a company or business electronically easy yet the above-mentioned documents are required for the process of registration through the SPICe+ Form.