11 May 2015, 17:18 — 2 min read
The World Bank’s ‘Doing Business’ Report 2015 revealed that India ranks a dismal 142 of 189 nations, in the ease of doing business index. In a bid to make India an attractive business hub, the government is taking some positive steps. This month, the Ministry of Corporate Affairs (MCA) has introduced a key reform for potential entrepreneurs in India. To simplify and fast track the procedure for company registration in India, the Ministry of Corporate Affairs (MCA) has introduced Form INC-29 – Integrated Incorporation Form.
Previously, registering a company in India involved multiple steps. Form INC-29 Company Registration has merged the process of getting Director Identification Number (DIN), Name Approval and Incorporation application into a single process – thereby considerably reducing the time taken to establish a company in India. Before the introduction of form INC-29, company registration in India required filling of multiple documents, which was a time consuming process. With the introduction of this new form, a company registration in India can be completed within a week, as many of the steps have been combined.
INC-29 will provide applicants a facility to avail of the following services through a single e-form:
INC 29 can be used for registering one person, private, public and producer companies.
The introduction of INC-29 is a step in the right direction and it is indicative of the government’s commitment to introduce initiatives that reduce red tape and provide a convivial environment for start-ups and small businesses.
You can download INC-29 here.
Posted byGlobalLinker Staff
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