April 27, 2016
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Corporate incorporation reforms streamline formation, easing capital and seal requirements and centralising e form registration for speedier processing.
Corporate incorporation reforms simplify company formation by introducing an integrated INC-29 form, removing the minimum paid up capital requirement, making the common seal optional, and eliminating the separate filing for commencement of business. A Central Registration Centre has been established to centralise and accelerate name availability approvals and incorporation e form processing nationwide, using phased deployment and information technology to speed and standardise registration.