7 Oct 2016
INDIA: Company Incorporation Time Cut to Just 24 Hours
The lead time for establishing limited companies is to be cut down from four weeks to just one day. The change follows the official adoption of the Simplified Proforma for Incorporating Companies Electronically (SPICe) on 3 October, which allows for all of the relevant documentation to be submitted online.
The new system also allows companies to be incorporated with a pre-approved name. The moves have been designed to streamline the process of corporate setup in India, while improving the overall ease of doing business in the country.