• Promotion
  
• Incorporation or registration
  
• Commencement of business.

• Approval of name -the name should not resemble the name of any other company already registered.
  
• Filling of documents to the ROC:
  
  
  • Drafting of the Memorandum and Articles of Association, vetting of the same by ROC and printing of the same.
    
  • Stamping of the Memorandum and Articles with the appropriate stamp duty.
    
  • Get the Memorandum and Articles signed by atleast two subscribers in his own hand, his father's name, occupation, address and the number of shares subscribed for and witnessed by atleast one person.
  
  
  
• Get the following forms duly filled up and signed:-
  
  
  • Declaration of compliance - Form-1
    
  • Notice of situation of registered office of the company - Form-18.
    
  • Particulars of Director, Manager or Secretary - Form-32.
  
  
  
• Present the following documents with ROC with filing fee and registration fee:-
  
  • Declaration of compliance - Form-1
    
  • Form-1, 18 & 32 in duplicate.
    
  • Name availability letter issued by ROC.
    
  • Power of Attorney from the subscribers in favor of any person for making corrections on their behalf in the documents and papers filed for registration.
    [Registration fee Apply to the concerned ROC to ascertain the availability of name in Form-1 A along with a fee of Rs.500/-. If proposed name is not available apply for a fresh name on the same application.]
    
  • Obtain Certificate of Incorporation from ROC.
  
  
  
• Additional Steps to be taken for formation of :
  
  • Arrange for payment of application and allotment money by Directors on shares taken or agreed to be taken.
    
  • File the statement in lieu of prospectus with ROC in schedule-iv of the Companies Act.
    
  • File a declaration in Form-20 duly signed by one of the Director.
  
  
• Obtain the Certificate of Commencement of Business.
  
• Other Requirements of the private limited company:
  
• There should be at least to directors of the company.
  
• The two directors will be the subscriber of the memorandum and they subscribe the minimum capital.
  Minimum capital for a private company is INR 1,00,000/-
  
• Registration fee is depending upon the authorized capital of the company. It should be equal or more than the subscribed capital of the company.
  
• Regarding non-resident interest in the company Foreign Exchange management Act is controlled all the issue. You can invest up to 100% depending upon the type of industry.

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• As proposed in the policy the zones can be either be setup by private sector or by State Govt. or State Government in association with Private sector. Private sector is also invited to develop infrastructure facility in the existing SEZs.
  
• State Govt. plays a vital role in the setting up of SEZ.
  
• A framework is being developed by creating special by creating special windows under existing rules and regulations of the central Govt. and state Govt. for SEZ.

• The units in the Zone have to be a net foreign exchange earner
  
• All the import/export operation of the SEZ units will be on self-certification basis.
  
• They shall not be subject to any predetermined value addition or minimum export performance requirements.
  
• Sales in the Domestic Tariff area by SEZ units shall be subject to payment of full custom duty and import policy in force.
  
• Offshore banking unit may be set up in the SEZs.

• Minimum size of the SEZ shall be with in the limits specified . This would however, not apply to existing EPZs converting into SEZs as such or for notifying additional area as a part of such SEZ or to product specific port/airport based SEZs.
  
• The SEZ and units therein shall abide by local laws, rules, regulations or bye-laws in regard to area planning, sewerage disposal, pollution control and the like. They shall also comply with industrial with industrial and labor laws and such other laws /rules and regulations as may be locally applicable.
  
• Such SEZ shall make adequate arrangements to fulfill all the requirements of laws, rules and procedures applicable to such SEZ.
  
• Only units approved under the SEZ schemes would be permitted to be located in these SEZ.
  
• At least limits specified area of the SEZ shall be used for developing industrial area for setting up such units.

• SEZ units have to be a Positive Net Foreign Exchange Earner.
  
• Performance of the unit will be monitored by a committee consisting of Development
  
• Commissioner of the Zone and Customs.
  
• Units shall maintain proper accounts and furnish details regarding value of import, export etc. to Development Commissioner on a quarterly basis.

• Residence proof in respect of individual/partnership firms of all Directors/ Partners. (Passport/ ration card/ driving license /voter identity card or any other proof to the satisfaction of Development Commissioner;
  
• Income Tax return of all the promoters for the last three years;
  
• Experience of the promoters;
  
• Marketing tie-ups
  
• In case of EOUs, inspection of the project site by an officer
  
• A report from other DCs as to whether any case under SEZ/EOU Schemes in regard to diversion of goods etc. is pending.

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• Compliance of the procedure including chartered Accountants Certification for repatriation of income / assets from India
  
• Making applications to Reserve Bank of India for purchase / sale of shares, debentures & securities and directly to and from Residents and Non Residents in India and outside India.
  
• Making application to Reserve Bank of India for purchase / sale of residential and commercial property including renting out of property.
  
• Any specific advice required in relation to FEMA / RBI matters.

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