Company and LLP Registration Process in India – A Practical Overview

Starting a business in India requires selecting the correct legal structure and completing the formal registration process with the Ministry of Corporate Affairs (MCA). The two most commonly used structures for professional, trading, and startup ventures are the Private Limited Company and the Limited Liability Partnership (LLP).

Both structures provide legal recognition, credibility, and compliance frameworks, but they differ in governance, taxation, and ownership flexibility. This article explains the end-to-end registration process for both entities in India.

1. Choosing Between a Company and an LLP

Before initiating registration, promoters must decide the appropriate structure:

Particulars	Private Limited Company	LLP
Legal Status	Separate legal entity	Separate legal entity
Ownership	Shareholders	Partners
Management	Directors	Designated Partners
Compliance	Higher	Lower
Taxation	Corporate tax	Partnership taxation
Fund Raising	Easier	Limited

Companies are preferred for startups, investment-ready businesses, and scalable operations, while LLPs are commonly used for professional firms, family businesses, and service providers.

2. Digital Signature Certificate (DSC)

All proposed directors or designated partners must obtain a Digital Signature Certificate (DSC). This is used to sign electronic forms submitted to the MCA.

Documents typically required:

PAN card
Aadhaar card
Passport-size photo
Email and mobile number

The DSC establishes the digital identity of the promoters.

3. Director Identification Number (DIN) / DPIN

For companies, each director must have a DIN.
For LLPs, each designated partner must have a DPIN.

Under the current system, DIN or DPIN is allotted through the incorporation forms themselves, eliminating the need for a separate application.

4. Name Reservation

The proposed name of the Company or LLP must be approved by the Registrar of Companies (ROC).

This is done through:

RUN service (for companies), or
Part A of SPICe+ (for companies) or FiLLiP (for LLPs)

The name must:

Not be identical or similar to an existing entity
Not infringe trademarks
Reflect the nature of business

Once approved, the name is reserved for a limited period for incorporation.

5. Drafting of Constitutional Documents

For a Company:

Memorandum of Association (MOA) – Defines the objects of the company
Articles of Association (AOA) – Defines internal rules and management

For an LLP:

LLP Agreement – Defines capital contribution, profit sharing, rights and responsibilities of partners

These documents form the legal backbone of the entity.

6. Filing of Incorporation Forms

For a Company:

The main form is SPICe+ (INC-32) along with:

INC-33 (MOA)
INC-34 (AOA)
AGILE-PRO for GST, EPFO, ESIC, and bank account

For an LLP:

The main form is FiLLiP, followed by LLP Agreement filing in Form 3.

The forms contain:

Registered office details
Director/partner details
Capital structure
Ownership and control
Declaration of compliance

7. Certificate of Incorporation

Once the ROC verifies the documents, it issues a Certificate of Incorporation.

This certificate includes:

Corporate Identification Number (CIN) for companies
LLP Identification Number (LLPIN) for LLPs
Date of incorporation

The entity legally comes into existence on this date.

8. PAN, TAN and Bank Account

For companies, PAN and TAN are automatically generated at the time of incorporation.
For LLPs, PAN must be applied separately after incorporation.

A bank account is then opened in the name of the entity for business operations.

9. Post-Incorporation Compliance

After registration, every Company or LLP must comply with:

For Companies:

First board meeting
Appointment of auditor
Issuance of share certificates
Annual ROC filings
Income tax returns

For LLPs:

LLP Agreement filing
Annual Form 8 and Form 11
Income tax returns

Failure to comply leads to penalties and legal consequences.

Conclusion

Registering a Company or LLP is not just a formality—it establishes the legal, financial, and compliance foundation of the business. The choice between Company and LLP should be made based on growth plans, taxation, ownership structure, and regulatory expectations.

A properly structured and compliant entity not only avoids legal issues but also builds long-term credibility with banks, investors, customers, and regulators.

Vilki & Co

Understanding the PCAOB Registration Process: What Audit Firms Should Know

As more Indian and offshore audit firms become involved in engagements connected to U.S. listed companies and U.S. broker-dealers, the relevance of the Public Company Accounting Oversight Board (PCAOB) has grown significantly. Any firm whose work is used in filings with the U.S. Securities and Exchange Commission (SEC) must be registered with the PCAOB.

This article outlines the PCAOB registration process, the regulatory implications, and the ongoing responsibilities that follow registration, based on the regulatory framework applicable to all covered firms.

What is the PCAOB?

The PCAOB was established under the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies and broker-dealers in the United States. Its mandate includes:

Registering audit firms
Setting auditing and quality control standards
Inspecting registered firms
Enforcing compliance through disciplinary actions

Any firm, whether U.S.-based or foreign, that prepares or substantially contributes to an audit included in an SEC filing falls under PCAOB jurisdiction.

Who Is Required to Register?

PCAOB registration is required if a firm:

Issues an audit report for a U.S. listed company
Audits a U.S. broker-dealer
Performs audit work on a foreign subsidiary of a U.S. issuer that is relied upon in SEC filings
Participates in significant audit procedures for a U.S.-registered audit firm

This means many Indian and offshore firms are required to register even if they do not directly sign U.S. audit opinions.

Overview of the PCAOB Registration Process

PCAOB registration is a regulatory approval process that formally brings a firm under U.S. audit oversight. It consists of the following core steps.

1. Creation of PCAOB System Account

The firm must first create an account in the PCAOB’s registration system, providing basic information such as:

Legal name and form of entity
Country of incorporation
Regulatory status in the home jurisdiction
Ownership and partner details

This establishes the firm’s identity in the PCAOB database.

2. Filing of Form 1 (Application for Registration)

The central part of the process is Form 1, which requires detailed disclosures covering:

Firm structure and ownership
All office locations and partners
Regulatory history and disciplinary matters
Audit clients that are SEC registrants or related entities
Use of other audit firms and specialists
Quality control and independence systems

This form is a regulatory disclosure document, and firms are legally responsible for the accuracy and completeness of all information submitted.

3. Acceptance of PCAOB Jurisdiction

By filing Form 1, the firm formally agrees that it is subject to:

PCAOB inspections
Investigations and enforcement
U.S. legal jurisdiction for regulatory matters

This applies even to non-U.S. firms and has long-term legal and compliance implications.

4. PCAOB Review and Approval

The PCAOB reviews the application for completeness, accuracy, and risk indicators. The Board may request additional explanations or clarifications before granting registration. Once approved, the firm becomes a PCAOB-registered audit firm.

5. Ongoing Compliance After Registration

Registration is not a one-time event. Every registered firm must:

File annual and periodic updates (Form 2)
Report changes in ownership, partners, and clients
Maintain PCAOB-compliant quality control systems
Be prepared for PCAOB inspections

Non-compliance can lead to inspections findings, enforcement actions, or deregistration.

Why PCAOB Registration Is More Than a Formality

Unlike local professional registrations, PCAOB registration exposes firms to direct regulatory review of their audit work. Inspectors may examine:

Engagement documentation
Audit judgments
Independence compliance
Quality control systems
Partner supervision and review

This makes audit methodology, documentation discipline, and internal controls critically important.

Conclusion

PCAOB registration marks a firm’s entry into the U.S. audit regulatory environment. It enables participation in cross-border audits and U.S. capital market engagements—but it also brings ongoing regulatory oversight and accountability.

Firms considering or undergoing PCAOB registration should approach it not merely as a filing requirement, but as a long-term compliance commitment that reshapes how audits must be planned, performed, documented, and reviewed.

Vilki & Co

Your Complete Guide to Audit Support in India: Ensuring Compliance & Confidence

Introduction

In today’s dynamic regulatory environment, audits have become more than just a compliance requirement — they are essential tools for building transparency, improving internal controls, and gaining stakeholder confidence. Whether you are a startup, SME, or large corporation, having the right audit support is crucial.

At Vilki & Co, Chartered Accountants, we specialize in offering end-to-end audit solutions tailored for Indian businesses, aligned with the latest regulations issued by ICAI, SEBI, and other statutory authorities.

What Is an Audit & Why Is It Important?

An audit is an independent examination of financial information to ensure that it presents a true and fair view of an entity’s financial position. In India, audits are mandated under various statutes like:

Companies Act, 2013
Income Tax Act, 1961
Goods and Services Tax (GST) laws
SEBI Regulations (for listed entities)

Audits enhance credibility, ensure legal compliance, and help detect inefficiencies and fraud.

Types of Audits in India

We offer a full spectrum of audit services, including:

Statutory Audits under Companies Act
Tax Audits under Section 44AB of Income Tax Act
Internal Audits for risk assessment and process improvement
GST Audits and reconciliation
Stock and Inventory Audits
Forensic Audits in case of suspected fraud
Management Audits for performance and decision-making insights
Trust and NGO Audits

How We Help: Audit Services Tailored to Your Needs

At Vilki & Co, we follow a structured and risk-based approach to ensure every audit is:

✅ Compliant with the latest ICAI standards
✅ Industry-specific and customized
✅ Tech-enabled for efficiency and accuracy
✅ Value-driven with actionable recommendations

We support our clients with:

Pre-audit readiness checks
Documentation and evidence gathering
Process walkthroughs and control testing
Final audit reports with insights for improvement

What Sets Us Apart?

🔹 Experienced team of Chartered Accountants and Audit Specialists
🔹 Deep understanding of sector-specific nuances (manufacturing, fintech, real estate, etc.)
🔹 Transparent communication and proactive reporting
🔹 Technology-driven audit tools and working papers

Stay Ahead of the Curve

India’s regulatory framework is evolving. From increased scrutiny under the MCA to technology-driven GST audits, businesses must stay compliant to avoid penalties and reputational risks.

We don’t just audit – we guide, support, and empower your business to thrive confidently in a regulated environment.

Let’s Talk Audit.
Ready to streamline your audit process or need a compliance check?
📩 at info@vilki.co

Vilki & Co

About Us

Founded in 1994, Vilki & Co (Chartered Accountants)—formerly known as DMS & Vilki Associates—has been a trusted name in Project Financing, Audit, Taxation, and Financial Advisory. With a strong foundation built on integrity, professionalism, and innovation, we have served businesses across industries with a commitment to excellence.

Vilki & Co