Introduction
In accordance with the Companies (Incorporation) Amendment Rules, 2020 MCA has taken a step for speeding up online company registration in India in order to encourage the ease of doing business. The Ministry of Corporate Affairs (MCA) has introduced SPICe+ Form and all the connected forms on February 23, 2020, replacing the current SPICe Form and all linked forms with a variety of services to be provided under a single application. This is applicable to all new Indian Subsidiary Company starting from February 23, 2020.
Characteristics of SPCIe+ Forms
The following are the important characteristics of SPICe+ Form:
- It is a web-based form that is divided into two parts one is PART A for the name approval and PART B for the incorporation application.
- The applicant has the flexibility to apply for either only PART B for name approval and incorporation or to apply for PART A first or then PART B.
- Except for DSC validation, a pre-scrutiny will be conducted for all the forms.
- Once the information is entered, it will be stored and can be changed before submission to make filing easy.
- The SPICe+ must be converted into pdf format in order to attach DSCs after being completely filled with all required information.
- DSC validation and other validations will be performed when the form and all linked forms are uploaded.
Process for incorporating new Indian Subsidiary Company
The following steps are to be followed when filing the SPICe+ Form (single application) for the Indian Subsidiary Company registration:
- Sign in to the MCA Portal. Click on MCA service< Company Service
- If you are submitting a new application, click New Application.
- By clicking on an existing application, the applicant can access the application number and the proposed/ approved name of the Indian Subsidiary Company.
- When the applicant chooses the New Application, SPICe+ Form Part A will appear, which includes Name Reservation and details like type, class, category, sub-category, the company's primary area of industrial activity, a description of the primary area, and preferred name for the company needs to fill.
- To enable the first level of automatic scrutiny of the Proposed Name as per name rules, click on the auto-check button.
- After completing Part A, the applicant has the choice to either submit it for name reservation and move forward with incorporation or cancel.
- If the applicant selects the option to Proceed for Incorporation that is Part B. Enter the basic information like PAN and TAN, as well as the company's registered or correspondence address, subscriber and director data, and other details relating to the proposed Indian Subsidiary Company. The applicant should upload all documents required for company registration in India and optional attachments in the web form. Click on the "save and continue" button. Each section of Part B includes separate check form validation.
- Select on the check the boxes next to each declaration and then press the pre-scrutiny button.
- Click on the "submit" button if the pre-scrutiny is successful.
- A confirmation message will be sent to the applicant after successful submission.
- Now, the applicant has downloads the PDF of SPICe+ Part B for attaching the DSC and also all linked forms. Once the DSC is attach again login to MCA and upload the SPICe+ Form.
Conclusion
The foreign nationals seem more interested in registering their subsidiary company in India because of the launch of the SPICe+ Form for registration of the new subsidiary company. This form can be resubmitted in the same process mentioned in this blog. Under the SPICe+ form all types of Indian Subsidiary Company registration like a branch office, liaison office, etc. can be incorporated.
CAclubindia
