Setting up of a Company in India is simplified

The Ministry of Corporate Affairs ("MCA") has introduced new incorporation form "SPICE+" and "AGILE PRO" that allows the stakeholders to make a composite application for incorporation and following additional services:

-       Reservation of Name;

-       Incorporation;

-       Employees’ Provident Fund organisation (EPFO) Registration;

-       Profession Tax Registration; and

-       Opening of Bank Account.

The new amendment is effective from 15 February 2020. Further, it may be noted that in case of reservation of new name for the purpose of change of name by existing company, shall continue to make an application through RUN (Reservation Unique Name).


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