Private Limited Company Registration
Private Limited Company is the most preferred format of doing business in India. It is governed by the Ministry of Company affairs (MCA) in India. It is a separate legal identity in the eye of law from its members, thus offers its shareholders legal protection and limited Liability. The liability of the members of the Private Limited Company is limited to the amount of Share Capital invested.
Two or more persons together can create a Private Limited Company. A person can be Director & Share holders both. Incorporation of Private Limited Company takes 15 days. After getting the Certificate of incorporation the Business of the Company can be started.
- PAN card of the proposed directors &share holders
- Aadhar card of the proposed directors & shareholders
- Address proof of proposed directors & shareholders
- Address proof of the business
- Passport size Photographs of proposed directors & shareholders
- Digital Signature of Proprietor/Partner/Director
- Address Proof
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Advantages Of Private Limited Company Registration
Separate Legal Identity
A Private Limited Company is a separate legal identity in the eye of law than its shareholders.
A Private Limited company enjoys the benefit in taxation, as a start-up.
The business of a Private Limited Company is not affected in the case of change of ownership.
Reputation In Business
Doing business in the form of Private Limited Company creates the reputation in the market.
Ease In Equity Funding
Private Limited Company can raise funds from Angel Investors or venture capitalists.
Separation Of Management & Ownership
A shareholder can invest in the business of the company without involving himself in in the management process of the company.
In a case where company comes in the distress financial situation,the personal assets of the shareholders will not be used to pay the liability of the company. The Liability of the shareholders is limited to the extent of the share capital invested.
Registering a company is easy through India Filings. A minimum of two people is required to act as directors and shareholders.
The preconditions for the incorporation of a private limited company are that:
- a) The number of members must be between 2-200.
- b) There must be at least two directors and two shareholders
- c) Each director must have a Directors Identification Number (DIN)
- d) PAN card copy of directors/shareholders. Passport copy for NRI subscribers.
- Obtain Dsc
- Apply for Din
- Name Approval
- Form SPICE INC-32
- MOA and AOA
- PAN and TAN Application
- Scanned copy of PAN card or passport (foreign nationals & NRIs)
- Scanned copy of voter ID/passport/driving license
- Scanned copy of notarized rental agreement
- NOC from the owner of the property
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
- Scanned copy of sale deed/property deed in English (in case of owned property)
- In case of subscribers/ Director does not have a DIN, it is mandatory to attach, proof of identity and address proof of the subscribers
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
For the incorporation of the company, a maximum of three directors can use the integrated form for filing application for allotment of DIN.
No. The Companies (Incorporation) Third Amendment Rules dated 27th July 2016 has relaxed the mandatory attachment of proof of identity and residence in respect of a subscriber having a valid DIN.
Physical copies are needed to be signed and attached in case non- individual first subscribers are based out of India, or individual foreign subscribers do not hold a business visa. It is to be noted that If physical MOA and AOA are filed, then there is no need to attach MOA and AOA.
There is no minimum capital required for starting a private limited company.
Yes, the company can be registered at the owner's residence address. A copy of the utility bill is required to be submitted.
Yes, a NRI or a foreign national can become a director of a private limited company. He or she must obtain a DIN from the Indian ROC. They can also hold a controlling stake in the company. If at least one director on the board of directors is an Indian resident.
No, new company registration is a fully online process. As all documents are filed electronically. You would need to send us scanned copies of all the required documents & forms