All About Indian Subsidiary And SPICe+ Form | Ebizfiling

 Introduction 

 

The Indian government has implemented an integrated web form called SPICe+ or SPICe Plus for online company registration in India. It is a single application procedure to incorporate an Indian Subsidiary and there are several documents required for company registration in India. The concept of Ease of Doing Business (EODB) in India is reflected in this form. India's ranking for ease of doing business has significantly improved since the introduction of the SPICe+ form and it has made company registration in India very quick. In this blog, we will focus on the Indian subsidiary company registration in India through SPICe+ Form.

 

 What is SPICe+ Form?  

 

The SPICe+ Form is a Simplified Proforma for Incorporating Company Electronically Plus. The SPICe+ is an integrated web form that provides a variety of services, such as name reservation, incorporation, DIN allocation, obligatory issue of PAN, TAN, EPFO, ESIC, and Profession Tax (Maharashtra), as well as the opening of bank accounts in the name of the company. Moreover, it will make it easier for shareholders to receive a GSTIN in the respect of which it is applied.

 

 India Subsidiary through SPICe+ Form 

 

The Indian Subsidiary Company registration is completed with this one single application. The steps for incorporation are as follows:

 

Step 1: The individual who is establishing an Indian Subsidiary in India is required to collect all documents of the foreign company.

 

Step 2: After collecting the documents, the members or shareholders should decide a unique name for the company.

 

Step 3: Draft AOA and MOA for the Subsidiary Company. These documents will act as an internal law of the company, in which the details of business operations, shareholding rights, details of shares, etc.

 

Step 4: Application for subsidiary registration in the prescribed form i.e. SPICe+ Form:

 

• Spice+ Form is divided into two parts:

 

Part A: Apply for the name reservation of the company in Part A of the form Spice+ It can be used for getting the name approval of the proposed Company and also for filing Company registration in one single step.

 

Part B: In Part B of the Form Spice+, apply for the following services:

 

1. Incorporation

2. DIN allotment

3. Mandatory issue of PAN

4. Mandatory issue of TAN

5. Mandatory issue of EPFO registration

6. Mandatory issue of ESIC registration

7. Mandatory issue of Profession Tax registration(Maharashtra)

8. Mandatory Opening of Bank Account for the Company and

9. Allotment of GSTIN (if so applied for)

 

Step 5: Open a bank account in the territory of India. It should be under the name of the Indian Subsidiary Company.

 

 Process for filing the SPICe+ Form 

 

As the SPICe+ Form is divided in two parts, so the process of filing both parts is different. So let us learn the process of filing Part A and Part B of the SPICe+ Form.

 

Steps for filing Part A of the Form

 

• Go to the MCA portal, and click on the MCA services option.

 

• After clicking on the MCA services option. You will see SPICe+ Form, click on it.

 

• It will take you to a new page. On that page click on the 'New application form' option.

 

• Properly fill out the form and recheck before submitting. After you submit the application the Part B of the form will be made available to you.

 

 Steps for filing Part B of the Form  

 

1. There are certain details the applicant has to fill, which are as follows:

 

• The address of the registered office or alternative address of the company.

• The name of all the directors of the concerned directors.

• The capital of the Subsidiary company.

• The details of DIR 2 which is duly signed by the directors.

• The stamp duty as stated in MOA and AOA.

• Any extra information required for PAN and TAN registrations.   

 

2. After filling the required information, the users must do a "pre-scrutiny" check. To continue, click submit. If the submission is successful, a confirmation will appear on the screen.

 

3. Following a successful submission, you must download the Part B form as a PDF in order to attach a Digital Signature Certificate (DSC) and any additional forms.

 

4. The forms associated with the SPICe+ which includes INC-9, URC-1, SPICe+ MoA, and AGILE-PRO. Then, you can upload Part B of SPICe+ and any associated forms to the MCA portal.

 

5. Once the forms are uploaded for incorporation of a company, then proceed to make payment. To make a payment towards such incorporation, a Service Request Number is generated.

 

6. When the payment is successfully completed, the forms would be processed. If any errors is detected during the process of online company registration in India, the SPICe+ form must be resubmitted in the same manner.

 

 Documents required for Indian Subsidiary registration 

 

A. Company related documents:

 

• The draft copy of the Articles of Association and Memorandum of Association.

• If the property is rented, the lease agreement must be provided as proof of address; if the property is owned, a copy of the ownership documentation must be provided.

• Copy of utility bills.

• A copy of the promoter company's resolution.

• Copy of capital structure of the company

• A copy of the Foreign Corporation's Certificate of Incorporation.

 

B. Directors and shareholders related documents:

 

• Directors and designated shareholders must have a Director Identification Number (DIN) and a Digital Signature Certificate (DSC).

• Shareholder and director identification and address documentation.

• Photographs of the Directors and Shareholders.

• First Directors' Investments in Other Entities.

• Directors' and Shareholders' Declaration.

 

 Conclusion 

 

The introduction of SPICe+ Form by the Indian Government has significantly advanced the process of company registration. This form has combined the long procedure of online company registration in India into one single application. It has also reduced the unnecessary hard work of the members.