Formation of a Company
Establishing a company in India involves adherence to the regulations outlined in The Companies Act of 2013. The most prevalent corporate structure is the limited company, with unlimited companies being relatively uncommon. The process involves registering the Memorandum of Association (MOA) and Articles of Association (AOA) with the State Registrar of Companies in the state where the primary office is situated.
Section 3 of the Companies Act, 2013 outlines the basic requirements of forming a company as follows:
- Involvement of 7 or more people can form a Public company who subscribe their names to the memorandum and register the company for any lawful purpose.
- 2 or more people can form a Private company.
- One person can form a One-Person Company (OPC).
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