Everything You Need to Know About Central Registration Center in India
The rapid growth in the economy of India is deemed as among the fastest recovery ever recorded. For once, India was considered one of the poorest nations in the wake of its huge population that has hardly been contributing taxes to the government.
However, things have changed for the country. It now has a reputation of being one of the world’s favourite investment havens.
This is all thanks to the economic policies that allowed foreign investments to come in and provide the much-needed government revenues. The policies also were successful in providing a lot of employment to Indian nationals.
Business Influx in India
Amid a sustained economic growth as manifested by the continuing surge of business companies in India, the government, through its lead agency Ministry of Corporate Affairs, finds it logical to maintain a database of business activities if only to put things in its proper perspective.
Thus, it created the Central Registration Center.
MCA established the Central Registration Center for fast-tracking the incorporation of a company. It also helps firms secure a business name quickly.
With a working mandate to promote systematic company registration and ease of doing business in India, the Central Registration Center embarks on an all-digital platform. It has been answering questions, solutions to cumbersome procedures, a guide on how-to’s, and so on. All in all, the registration centre is being very helpful for businesspeople wanting to start a company in the country.
Central Registration India- 48 Hours for a Business Name
Established on January 22, 2016, the Central Registration Office helps hasten disposal of the applications for name availability/reservation of names. You will have to submit the name through the e-Form INC-1, as part of the requirements in the formation of a business company in India.
With a digital facility in place, CRC accepts online applications for reservation of names anywhere in India. And securing a business name need not be long. 48 hours is all that it takes to process the form INC-1.
Company Formation and Registration
Once an entrepreneur secures a business company name, applicants are linked to the appropriate agency under the Registrar of Companies. Moreover, the agency depends on the location of the firm’s central business office
Other than the Central Registration Center, applicants may also go to the MCA21 portal to proceed to the company incorporation.
MCA21 web portal hosts various forms necessary for the process of registering a company in India.
New Company Registration under CRC
Interestingly, the Central Registration Center also serves as an information desk for those wanting to incorporate a company.
Part of the information that the Central Registration Center offers the definition of business terms and the use of various forms which include:
- Form INC 2: — Exclusively used for incorporation of the One Person Company (OPC).
- Form INC 7: — For incorporation of a private limited company, a Section-8 company or a public limited company.
- The Form INC 29: — This form is an express form for the registration of companies other than Section-8 companies. This Integrated Company Incorporation form simultaneously facilitates approval of name and up to three DINs.
- Form INC 22: — This is where the company provides details on the location of the head office.
- The Form DIR 12: — In this form, the company provides details on the appointment of directors and other corporate offices.
- Form URC 1: — This is a special form used by the companies seeking registration under section 366.
Too Technical and Time-Consuming
Securing a rightful business in India may sound simple with an all-digital government platform offering downloadable forms. However, sheer knowledge may not be enough. What you actually need is a competent corporate service provider in India.
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