Online Company Registration in Odisha2023-08-03T22:46:50+05:30

Company Registration in Odisha

Incorporation of Pvt Ltd Company in Odisha is one of the popular options to start a business amongst startups and emerging businesses. It is a corporate entity that is easy to register, manage and run. It can induct up to 200 shareholders wherein the liability of each member is limited.

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    Company Incorporation in Odisha

    Odisha formerly known as Orissa is one of the 29 states in India. It has abundant natural resources and a large coastline. Along with this, it has emerged as the most preferred destination for overseas investors with investment proposals.  It contains a fifth of India’s coal, a quarter of its iron ore, a third of its bauxite reserves, and most of the chromite.

    Rourkela Steel  Plant was the first integrated steel plant in the public sector in India, built with the collaboration of Germany. Orissa/Odisha is a state which offers us enormous business opportunities and a scale of enterprises. A business start-up or a company start-up is a decision of an entrepreneur and requires in-depth strategic, business, and legal considerations.

    If you are looking to build a business in India, Orissa/Odisha is a place you should consider with utmost importance. Once you have come up with a business idea and decided to start a business you will need to follow some procedures to register a company in India.

    Small, medium, and large businesses in India consider a Pvt Ltd Company as one of the most popular legal structures. Anyone looking to build a scalable business can choose it. Registering a Pvt Ltd Company requires a minimum of two members and allows for a maximum of two hundred members.

    Introduction to Pvt Ltd Company

    A Pvt Ltd Company is a type of small business entity that is held privately. In addition, the liability of members is limited to their shares and there can be a maximum of 200 members. Further, a Pvt Ltd Company cannot invite the general public for subscribing to its securities. Ministry of Corporate Affairs (MCA), Companies Act 2013, and Companies Incorporation Rules, 2014 govern the Pvt Ltd Company registration in India.

    The liability of shareholders is limited towards creditors, it is restricted only to the unpaid amount of shares. For that reason, banks/creditors can sell only the company’s assets but not the personal assets of directors and shareholders in case of default.

    As a Private Limited Company can raise funds from outside India limits the liabilities of its shareholders, and offers employee stock options to attract top talent, it is generally chosen by startups and growing businesses.

    Moreover, as these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend to be viewed with more credibility than a Sole Proprietorship or General Partnership.

    Features of Company Registration in Odisha

    • Membership

    A Private Limited Company can be formed with a minimum of 2 members or shareholders. An individual person above 18 years of age or a corporate body can be a member or shareholder in it. Moreover, the maximum number of members/shareholders in a Private Limited Company can go up to 200.

    • Directorship

    A Pvt Ltd Company needs to have a minimum of 2 directors who shall manage the conduct and affairs of the company. The directors may be existing shareholders of the company or can be a person other than a shareholder. There may be a maximum of 15 directors in any company. Furthermore, every Indian Company has to ensure that they have 1 director who is a permanent resident of India.

    • Restriction on Transfer of Shares

    The members/shareholders of private limited companies cannot transfer their shares publicly. Therefore, there can be a restriction on the transferability of shares in these companies.

    • Foreign Direct Investment (FDI)

    Foreign citizens, foreign corporate entities, NRIs, or OCIs can invest in a Private Limited Company and become its shareholder. This is why foreign promoters prefer Private Limited Companies.

    • Prohibition on Inviting Investments from Public

    A Pvt Ltd Company cannot invite the general public to purchase or subscribe to its shares or any other kind of securities. Also, it cannot accept deposits from the public other than its members, directors, or relatives of directors.

    Advantages Of Pvt Ltd Company Formation in Odisha

    • Separate legal entity

      After registration, a Pvt Ltd Company becomes an artificial person, separate from its members. Also, the members of a Pvt Ltd Company have limited liability. It means that if a company faces loss under any circumstances, then its shareholders are not liable to sell their own assets for payment. Thus, the personal, individual assets of the shareholders are not at risk.

    • Easy to register, manage & run

      One can register a Private Limited Company completely in online mode with less paperwork. The registration process takes 7-12 working days to complete. Also, it offers flexibility in operations like the addition of new directors, allotting new shares, ESOPs, and other various other features.

    • No minimum capital required

      After the Companies Amendment Act 2017, the minimum requirement of capital of Rs. 1 lakh for private limited companies was abolished. So now, it is possible to form a company even with minimum capital (Ex. Rs. 2000).

    • Easy allocation of ownership and management

      Businesses that will require funding from venture capitalists (VCs), angel investors, etc need to register as private limited companies. This is because such investors can become directors and shareholders in a company. Whereas, in the case of an LLP, investment is possible only if such investors become the partners of the LLP.

    • Easy to dissolve or wind-up

      The structure of a Pvt Ltd Company provides faster exit opportunities to those companies which do not have any assets or outstanding liabilities and want to close their business operations due to some extraordinary circumstances.

    • Preferred by banks, VCs & investors

      An independent auditor audits the books of a Private Limited Company annually. Therefore, banks, VCs, and investors prefer a Pvt Ltd Company over other forms of business.

    Minimum Requirements For Company Incorporation in Odisha

    • Minimum 2 Directors/Shareholders

    • At least 1 Director shall be a permanent resident of India

    • Minimum capital of 2 Rupees

    • DIN & DSC’s for all Directors/Shareholders

    What Is Included In Our Company Registration package?

    • Company name search and approval

    • Digital Signature Certificate (DSC) for 2 Director/Shareholder

    • Director Identification Number (DIN) for 2 Directors

    • Certificate of Incorporation/Registration

    • Company PAN and TAN

    • Memorandum of Association (MOA) and Articles of Association (AOA)

    • Supporting Document for opening Bank Account

    • Employees State Insurance Corporation Registration (ESIC) and Employees Provident Fund Registration (EPFO)

    • Professional Tax Registration (For Companies registered in the state of Maharashtra and Karnataka only)

    • Company Master File Kit

    Procedure for Incorporation of Company in Odisha

    • Application for Name Approval

      Applicant has to provide 2 different names and main objects for the proposed company which shall be submitted to MCA for approval, out of which one name will be approved. Names provided should ideally be unique and suggestive of company business, it should end with the word “Private Limited”

    • Application for Digital Signature Certificate (DSC)

      Once the name is applied, we shall apply Digital Signature Certificate (DSC) of shareholders and directors for digitally signing the forms. If the directors/shareholders already have DSC, then this step can be skipped.

    • Final Submission of SPICE+ forms along with MOA and AOA

      After the name is approved and DSC is generated, we need to prepare and submit incorporation application in SPICE+ forms along with Memorandum of Association (MOA), Articles of Association (AOA), and AGILE form for final approval.

    • Get Incorporation Documents

      It typically takes 3-5 days after final submission to get the incorporation certificate. Incorporation certification is a proof that the company has been registered. PAN, TAN, ESIC, EPFO, Professional Tax registration certificate will also be received simultaneously.

    • Opening of Bank Account

      Applicant can submit the Incorporation certificate, MOA, AOA, PAN, TAN, and other required documents to the bank to open the current account and start the business operations.

    Documents Required for Company Registration in Odisha

    • List of documents to be submitted by the Director and Shareholders –

      All the proposed directors and shareholders of the company shall submit the following documents. All documents submitted should be valid and readable.

      Scanned copy of –

      • PAN Card
      • Aadhaar Card/Voters ID/Passport/Driving License
      • Latest Bank Statement/Telephone Bill/Post-paid Mobile Bill/Electricity Bill (The address proof shall be recent and not older than 2 months)
      • Passport-sized photograph

      In the case of foreign nationals or NRI Director and Shareholders, the documents list can be checked here
      Document Checklist for Foreign Nationals or NRI Director and Shareholders

    • Registered Office Proof

      A Private Limited Company should have a registered office place in India. The office address can be residential or commercial premises. The address proof shall be recent and not older than 2 months. The following documents are acceptable as a proof of registered office address –

      • Scanned copies of utility bills such as Electricity bills/Mobile Post-paid bills/Landline Post-paid bills/Gas bills/Water bills
      • Scanned copy of a No-objection Certificate from the property owner or whose name appears on such utility bill


    What is the average time period needed for setting up a private limited company in Odisha?2022-07-01T18:24:46+05:30

    In Odisha to register a private limited Company it would require 10 – 15 days. However, it would also depend upon the workload of the Central Registration Centre (CRC), MCA.

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