Private Limited Company registration is a widely chosen method for commencing a business in India. A private limited company is an enterprise owned privately by stakeholders. In this arrangement, the liability is limited, resembling that of a partnership, where shareholders' liability is confined to the extent of their shareholding.
A company structure provides various advantages that make it an attractive choice for startups and ambitious businesses. These benefits include limited liability protection for founders, a distinct legal entity, enhanced credibility, and easier access to external funding. To acquire these benefits, companies must be registered with the Ministry of Corporate Affairs (MCA) under the Companies Act of 2013.
A minimum of two shareholders (maximum of 200) with non-transferable shares and with a minimum share capital of Rs. 1,00,000 is necessary to establish a private limited company.
A private limited company, also known as a Pvt. Ltd. company, is a type of business organization that possesses a distinct legal identity and provides the advantage of limited liability to its shareholders.
Yes, the entire Company registration process is conducted online, eliminating the need for any physical visits. Get in touch with us now for more information.
Yes, in order to incorporate a private limited company, a minimum of two directors is required. The maximum members can be 200. However, you can register as a one person company (OPC), if you are the sole owner of the company business.
Normally, it takes 1-2 weeks time for Company registration, provided all the documents are supplied on time and the time taken by the Registrar-ROC (MCA) to responde consedering their workload.
No, there is no requirement of commercial space for Company registration / incroporation. You can use your own residential address or a rented residential address as the registered address for the company. Once your startup is established and ready, you have the option to change the registered address.
There are broadly five steps to register a Pvt. Ltd. Company in India. They are as follows: 1. Apply for DSC & DPIN 2. Submit Names in order of your preference for Approval 3. Submit Memorandum of Association (MoA) and Articles of Associate (AoA) 4. Obtain Company Incorporation Certificate 5. Apply for PAN, TAN, and Bank Account exclusively for the Company.
There are many advantages and benefits of registering a private limited company. Some of them is listed below: • It becomes easier to gain the attention of Banks, NBFCs, Investors, VCs, and other organizations. • It becomes simpler to distribute and assign shares to directors, employees, and other investors. • The separate legal entity status restricts liability of its shareholders. • A private limited company is easier to run, control, and manage. • Registering, dissolving, or winding up a private limited company is easier, if needed.
The Cost of Registration for a Private Limited Company would be different depending on its proposed strength, number of directors, number of members, authorized share capital, and fees of the professional service you hire for. It may be somewhere between Rs. 10,000/- to 30,000/-.
The Companies Act and registrar of companies (RoC) mandates an applicants to follow few naming guidelines. Initially, please ensure that the name you have chosen is unique and available on the MCA Portal. Further the proposed name should be unique and not be undesirable or resemble too nearly or be identical with the name of an existing registered company. However, the approval of the name by the Ministry of Corporate Affairs (MCA) is subjective, implying that the decision can be influenced by the officer's (handling your application) individual perspective while reviewing your application. Hence, the more closely you follow the name selection guidelines, the better your chances of approval.
No, new company registration or incorporation is a fully online process. As all documents are filed electronically, you would not need to be physically present. You would need to send us scanned copies of all the required documents & forms. You will get the company incorporation certificate from the MCA via courier at the business address.
All proposed directors must provide their identity and address proof, as well as a copy of their PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate (NOC) must be submitted by the owner of the registered office premises.
Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs of rupees and even lead to the blacklisting of directors.
Memorandum of Association (MoA) is a document which contain details of the main, ancillary, subsidiary & other objects of the company with the rules, vision and mission of the organisation. Articles of Associate (AoA) is a document which contains details of the rules, authorized share capital, names of the first or permanent directors & promoters, clauses, and procedures for the company's routine business and organizational conduct.
Yes, a private company can carry owns multiple businesses. Although, the Memorandum of Association (MoA) should contain such provisions and same should be approved by the registrar of the company (ROC).
A Directors Identification Number (DIN) is a requirement for individuals who are to be appointed as directors in a registered company. It is mandatory for a person to have a DIN before they can be appointed as a director.
A private limited company should have minimum of 1 Lac rupees as Share Capital.
No, one cannot convert an LLP into a private limited company as it is not a MCA. The LLP Act, 2008 and the Companies Act, 2013, both don’t have any provisions on conversion of the LLP in a private limited company. However, if someone wishes to grow their business, they have the option to register a new private limited company with the same name. The limited liability partnership (LLP) company simply needs to issue a no objection certificate.
Yes, It is possible to register the company at the owner's home address, but a copy of the utility bill must be provided during the registration process.
Authorized Capital refers to the highest permissible amount of capital that a company is allowed to offer to its shareholders. The authorized share capital will always be greater than or equal to the paid-up share capital.
Yes, you can become the director of any type of company provided your employer organization and the employment rules allow you to do so.
Yes, it is possible for a Non-Resident Indian (NRI) or a foreign national to serve as a director of a private limited company. In order to do so, they are required to acquire a Director Identification Number (DIN) from the Indian Registrar of Companies (RoC). Additionally, they are allowed to possess a majority shareholding and have controlling power within the company. However, it is necessary to have at least one director on the board who is a resident of India.
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