Shifting Your Registered Office? Here Are the Steps You Must Follow!March 9, 2023
Every company with business operations in India must verify their registered office with the Ministry of Corporate Affairs. Most often, a registered office is open in the state where the company can maximise its sales, looking at its target audience and other factors. Sometimes, the company sees a shift in their demographic and wants to shift from one city to another. It may be done to target a specific audience or cut costs; whatever the reason for the move, the organisation needs to follow certain steps for shift its registered office officially.
The procedure to shift the registered office from one state to another differs depending on the scenario, like going from one ROC jurisdiction to another within the same state or moving within the same ROC jurisdiction. The amendment mainly occurs in the company’s Memorandum Of Association (MOA) as the registered office address changes.
The process of moving a registered office from one city to another is as follows:
- Step 1 – Hold a board meeting and pass a resolution to call an Extraordinary General Meeting (EGM).
- Step 2 – A special resolution should be passed in the EGM to change the registered office’s address and alter the MOA. The resolution must be filed through form MGT-14 within 30 days with the Ministry of Corporate Affairs.
- Step 3 – The company has to publish an advertisement stating the address change not more than 30 days before the date of application to the Regional Director (RD). It should be posted in at least one regional and one English newspaper.
- Step 4 – The company needs to send a notice to all the creditors, shareholders, debenture holders, and to other regulatory bodies as applicable to the firm.
- Step 5 – An application should be filed with the Regional Director for the address change with the specified documents.
- Step 6 – If the company receives an objection, a hearing with the Central Government follows, and the necessary orders will be passed.
- Step 7 – The confirmation received from the Regional Director is to be filed by the company to the Registrar Of Companies (ROC) within 30 days from the order date.
- Step 8 – The company then needs to file form INC-22 to the ROC with the required documents.
After you receive the approval from the Registrar of Companies, all you need to do is change the address on letterheads, signboards, and any other official record or paper.
You must take care of many intricate things when shifting to another state. The company needs to have in-depth knowledge of Indian rules and regulations. So, being a foreign investor, navigating through the complex clauses might prove to be a challenge. Corporate Leaps takes care of all these formalities for you. From handling financial statements according to Indian Accounting Standards to ensuring all compliances necessary for the company, Corporate Leaps makes your decision to invest in India a more profitable and worry-free affair.