How to Register a Company in Mumbai

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How to Register a Company in Mumbai

Mumbai is the financial, entertainment, and commercial capital of India also it is on second number in terms of population, after Delhi. So, many startups are established here and achieve heights in the business world. 

Most of the headquarters are located in Mumbai, such as RBI, and SEBI. The corporation procedure in Mumbai is done as per the guidelines of the Companies Act of 2013. The offices of the Registrar of Companies are in Mumbai as well as Pune. The following areas are covered under the jurisdiction of RoC Pune, these are as follows:

• Ahmednagar
• Kolhapur
• Pune
• Ratnagiri
• Sangil
• Satara
• Sindhudurg
• Sholapur

To register a company anywhere in India - read our dedicted article - Company Registration Process

Meanwhile, the RoC in Mumbai monitors the registration of companies in other districts. The process is regulated by the Ministry of Corporate Affairs and Central Registration Centre.

Registering a company in Mumbai is a 100% online process. However, India's most popular business structure is a Private Limited Company because it has additional benefits compared to other structures like OPC and limited company. Below, check other types of business structures that an entrepreneur can choose based on the goals and employees.

Different Types of Company Registration in Mumbai

The types of company registration in Mumbai are as follows:

1. Sole Proprietorship: a business that is owned by a single individual on a small level. Personal assets are also included in the business. 
2. Partnership:  legal agreement between two or more individuals who join together and run a business.
3. Private Limited Company: It is a popular choice for startups and businesses that are looking for the benefits of limited liability.
4. Limited Liability Partnership (LLP): This is a hybrid structure that has a combination of limited liability and flexibility of partnership. 
5. One-Person Company: It is a unique structure that many sole entrepreneurs use to enjoy the benefits of LLP. 

Advantages of Company Registration in Mumbai

The following are advantages to register a company in India are as follows:

• Increase and builds credibility, acceptance, and trust among customers about the company.
• Reach potential customers because now they have access to a wide range of customers throughout India and it also provides better funding for the business
• Have protection for business owners because of limited liability.
• In a Limited Liability and One Person Company, the personal assets of the owner will be protected.

The Procedure of Company Registration in Mumbai

The following is the procedure to register a company in Mumbai, steps are as follows:

• Must meet the legal requirements and compliances for incorporation of the company
• As per the company structure, the owner has to choose the name and check the availability.
• Once the name is approved, the company must fill out the application form and collect all the required documents
• The entrepreneurs must follow the process of incorporation through the SPICe process.
• The companies whose Share capital is less than 15 lakh rupees, don’t have to pay the registration fees. But they have to pay the stamp duty and processing fees for the same.

Documents Required for Company Registration in Mumbai

To register a company in Mumbai, with an application you have to submit some documents, so these are the following documents which are required:

• Fill the Form INC-32 which is a proforma of registering a company electronically.
• Form INC-33 and INC-34 for e-Memorandum of Association and e-Articles of Association.
• For declaration by Directors fill INF-9.
• Consent of all Directors
• Digital Signature Certificate and DIN number of all the Directors.
• Address proof of all the registered office
• No objection letter from the owner of the property
• Identity proof of all the shareholders, and it can be the following:
  
  

PAN card

Aadhar card

Driving License

Voter Identity card

Passport

Utility bills not older than three months

Bank account statements

Registration Fees and Charges for Mumbai

The current stamp duty rates of Mumbai depend on the area such as urban or rural. Although the current stamp duty rates are mentioned in the table below: 

The registration charges in Mumbai are Rs. 30 thousand for a property worth Rs. 3 lakhs. The value of the property is 1% which is less than Rs. 3 lakhs.

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