As requested by the Indian legislation, each company must have an official business address, registered with the Registrar of Companies. During the procedure of company formation in India, the representatives of the company have to provide various information concerning their business – the legal entity, the number of shareholders, the company’s statutory documents, the company’s name and its registered office.
Provided that any of the above suffer various modifications, the Registrar of Companies (ROC) has to be informed as soon as possible on any changes; this also applies when the registered office of the company is modified, regardless of the reasons for which the investor will change the official business address. In order to change the registered office of an Indian company, specific procedures have to be followed and our team of specialists in company registration in India can advise on the legal requirements necessary in this case.
What are the steps for changing the registered office in India?
The need to have a registered office is regulated under the Section 12 of the Companies Act 2013. Thus, all businessmen starting a company in India have to notify the institution on their official business address in a period of maximum one month since the company was set up. The same is applicable when changing the registered office, and the company is legally required to provide updated information in a period of maximum 15 days since the address was modified. Investors must conclude the following:
- the company needs to inform the ROC on the modification of the business address by filing the Form INC-22;
- the form includes a notice of change of the original business address;
- the investors must also provide documents through which the ROC can verify the validity of the new address;
- the procedure also includes the payment of a fee and other terms that are specified under the Section 12, sub-section (2) of the Companies Act;
- verification documents can refer to the deed of property belonging to the Indian company;
- if the company rents an office space, the rent agreement must be attached to the file (or the latest rent receipt).
If the respective office space is not under the property of the Indian company, nor it is rented by it, the company’s representatives may attach documents which show that the owner of the property has permitted the company to operate in the respective location (a No Objection Certificate is required in this sense and our team of specialists in company formation in India can provide more details on this type of document).
Besides these, investors must also attach various utility bills (gas bill, electricity bill, telephone bill and others). It is necessary to know that the procedures can vary based on where the new location of the company will be situated (in this case, there are two options – changing the registered office from its original location, but in the same Indian state, or changing the official business address by relocating it to another Indian state).
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What should an investor know on the Indian economy?
The Indian economy is one of the most diversified at a global level and it benefits from one of the largest consumers market (it has a population of 1,3 billion citizens). The country is currently seen as one of the fastest-growing economies in the world and those who want to open a company in India should know that the estimates are also showing that the country can rise as one of the three global economies in the following decade. Some of the key points of the Indian economy are presented below:
- the country’s gross domestic product increased by 7,2% (between 2017 and 2018);
- it represents one of the main countries for startup projects (it accounts for more than 4,750 startup companies);
- the level of the foreign direct investments was of $409,15 billion (measured for the period of 2000-2018);
- it is estimated that 75% of the total digital talent available at a global level can be found in India;
- the IT sector in India represents a major economic activity here and for 2018-2019 the market is estimated at $181 billion;
- the same industry is expected to reach $350 billion by 2025;
- the Indian government enabled a national fund with a value of $745,82 million to sustain the development of the IT businesses registered here.
Businessmen interested in how to form a company in India or those who already have a business here and need professional consultancy services are invited to contact our representatives. Our team of specialists in company registration in India can offer a wide range of services and can also assist in modifying various aspects of a corporate entity, including the change of the company’s registered office.