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Overview
Incorporating a company marks the crucial initial step towards launching your business in India. For startups with ambitious growth plans, opting for a Private Limited Company is a strategic move. A Private Limited Company offers several advantages, including the ability to easily secure external funding, limiting shareholders’ liabilities, and providing founders with the flexibility to offer employee stock options to attract top talent.
A Pvt Ltd company is formally established in accordance with the Companies Act of 2013 and falls under the jurisdiction of the Ministry of Corporate Affairs (MCA). It’s noteworthy that a Private Limited Company can be formed with a minimum of two members and can extend up to two hundred members. Importantly, the directors of a private limited company enjoy limited liability, safeguarding their personal assets in case of any defaults. In such situations, banks or creditors can only liquidate the company’s assets without encroaching on the personal assets of the directors. This legal framework adds an extra layer of protection for entrepreneurs venturing into the Indian business landscape.
How Registration Can
Benefit You Company
Registering a Private Limited Company offers many benefits.
- Separate Legal Existence
- Management and Ownership Separation
- Limited Liability of Shareholders
- Easy Fund Raising
- Transferability of Shares
- Improves Credibility and Trust and attracts good talent
Process of Company Registration
The Ministry of Corporate Affairs governs the company registration process. The below registration process is basis the governing laws of MCA:
- Step 1: Application for DSC (Digital Signature Certificate)
- Step 2: Apply for DIN (Director Identification Number)
- Step 3: Application filing for Nameavailability
- Step 4: Drafting and Filing of eMoa and eAoA
- Step 5: Apply for PAN and TAN of the company
- Step 6: Certificate of Incorporation issued by RoCalong with PAN and TAN
- Step 7: Open a Current Bank account on the company name
Details Required for Comapny Registration
Registering a Private Limited Company will require the following.
Minimum Two Directors:
A Private Limited Company must have at least two directors. However, maximum 200 people can become shareholders in the private limited company.
One Resident Director:
Among two directors, at least one director must be a resident Indian for Private Limited Company Registration. Resident Indian means a person who has spent at least 182 days or more in a financial year in India.
No Minimum Capital:
There is no minimum capital required for Private Limited Company Registration. However, a Private Limited Company should have minimum authorized share capital of Rs. 1 lakh.
Unique Name:
The suggested name of the private limited company should be unique and should not be similar to any already existing company name or trademark.
Documents Required for Company Registration
In India, Private Limited Company registration cannot be done without proper identity and address proof. Prescribed documents will be needed for all the directors and the shareholders for the company incorporation. Listed below are the documents that are accepted by MCA for private Limited Company registration
Identity & Address Proof:
- Copy of Pan Card of Directors (mandatory)
- Voter Id card or Driving License or Passport
- Limited Liability of Shareholders
- Any one of: Bank Statementor Electricity Bill or Mobile Bill (not older than 2 months)
- Passport Size Photograph of Directors
Identity & Address Proof:
- Conveyance/ Lease deed/Rent Agreement etc. along with rent receipts (any one)
- Copy of the utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
- NOC from Landlord
Deliverables
- DSC & DIN for 2 Directors
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- Company PAN Card
- Company TAN Number
- Bank Account Opening Document Support
Frequently Asked Question
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
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