To-dos Immediately after Company Registration
What is Our Next Step ? Our Company is Registered
Open Bank Account
This is the first step.
Visit Any Bank of your Choice & Ask to Open a Bank Current Account.
We suggest you to open with either ICICI Bank, HDFC Bank or State Bank of India. how ever it completely your choice .
Transfer Share Capital in Bank Account
This is the second step.
Once Bank Account is Open - Transfer the Share Capital Amount from your personal Account to Company Account.
Hold your company First Board Meeting with in 30 Days
This is the third step.
We will help you do that, and we will draft the Board Meeting Resolutions and have it e-mailed to you.
Start Your Business Operations
This is the fourth step.
You can start business from the first day of Company Registration However practically you will be able to do business once bank account is opened.
What are the Documents Required to Open Bank Account Generally
Please Contact Bank for Further Details
New Company Documents (Ref Mails from Government MCA)
Company Certificate of Incorporation
Company MOA & AOA
Company PAN Number
Company TAN Number
Company Rent Agreement
New Company Board Resolutions
Board Resolutions as per Format which will be provided by Bank to be Signed by all the Directors
New Bank Account Opening Form of The Bank
Any Other Document as per Bank personal
All Directors KYC
All Directors Passport size Picture printed.
All Directors ID Poof - like Passport or Driving Licence
All Directors Address Proof (Please Refer Bank personal since all bank has accept or ask for specif document)
Indian Director PAN Card Copy
All Director Copy of any Bank account Statement for latest last 3 Months (Online downloaded PDF File with bank Logo may work depending upon bank)
What are things generally decided in First Board Meeting
We will help you Do this ... Its Our Job.
Company Level Very Important Decisions to take
Registered Office Situation & Agreements adoption
Appointment of First Directors of company
Appointment of First Auditor
Opening of Bank account of Company
Authorisation for Signing of documents
Directors Salary & Fees Payable if Any
Procedural Company Decision (No Decision involved)
Adoption Common Seal
To Issue Shares Certificate
Ratification of Pre incorporation contract
Allotment of shares
Adoption of Memorandum and Articles of Association
Appointment of Chairman
Approval of pre-Incorporation and pre operative expenses incurred by promoter
Adoptions of Financial year of Company
Taking note of Disclosure of Interest from Directors for the Financial year.
Most Frequently Asked Question after Your company in Registered
Where can I get more details about opening a Bank Account and how to open a bank account
Every bank in India has common basic document required as listed above however every bank has Different Types of Current Bank Account and Very much different facilities with each type of Current bank account. Hence you must visit bank and check with then in Details -
Type of current bank Account you want to open, how much balance you will maintain in account & What all facilities you wish from the bank.
Hence Only Bank Team will be able to help further on this
How Much time it take to open bank account ?
This commitment need to be taken from Bank Manager - they may tell you they will open bank account it 3 Days but in reality and practically it will take 7-10 days to open a Current Account in any bank in India . in case you able to get sooner - Feel your self lucky unless bank team has high pressure or very much inclined to get your business and you are a very big company already.
Do I have Sign any other Document with your company after my company is registered
No , Once your company is registered their would be no other document to be singed by you for the purpose on company, how ever once your bank account is opened and share capital money is transferred to bank account , we will mail you First Board meeting documents, which you have to sign and send back to us at later stage.
How to transfer my Paid Up Capital to New Company Bank Account where I am a Indian Share Holder
During the time of Company Registration, you must be aware of the Fact as how much Shares and Share Capital you Own in the company, You have to transfer EXACTLY THE SAME AMOUNT from your personal bank account (Savings Account) to New Company Bank Current Account. (No other Way out please do not ask if I can pay in Cash or I paid for company registration (this is practical real answer - legal answer help your self please))
How to transfer my Paid Up Capital to New Company Bank Account where I am a Foreigner & Not Indian Resident
During the time of Company Registration, you must be aware of the Fact as how much Shares and Share Capital you Own in the company,
You have to transfer EXACTLY THE SAME AMOUNT OR FEW $ MORE from your personal bank account in home country to New Company Bank Current Account.
During Making payment bank will ask purpose and your have to say " Share Capital Investment "
At the time of making payment to India , Your bank will charge Transaction charges so Add the amount in to the Money Send.
MAKE SURE EXACTLY SAME OR SOME FEW RUPEES MORE AMOUNT HITS BANK ACCOUNT IN INDIA. IF THE AMOUNT RECEIVED IN INDIAN BANK IS LESS THEN THE SHARE CAPITAL THEN YOU WILL HAVE TO SEND MONEY AGAIN EVEN IF IT IS JUST 1 $ Less.
Can I put Cash for my Share Capital in my New Company Bank Account
No, not at all, after 2014 New Company Act in India prohibits taking of share capital in Cash and their are also restrictions in Income Tax Act in dealing with Cash Translations hence it is not possible to have share capital introduce in cash.
In Case you are Non India - Foreign Share Holder - Their is legal requirement to fill the reporting with Reserve Bank of India (RBI) by your bank that India has received share capital from out side India hence , The Share capital amount must be received via bank transfer only. failing which share could not be issued by the company to you.
In your home country sending money may be difficult but we have seen our clients in past actually able to do so.