Private Limited Company Registration
A private limited company is a type of business structure that is privately owned and has limited liability. This means that the owners or shareholders are only responsible for the debts of the company up to the amount of their investment.
Easy Process and Documentation
Required Paperwork
- Pan card photocopy of all Directors (self-Signed).
- Aadhar Photocopy of all Directors (Self Signed).
- Two photographs of each Directors.
- Mobile Number & Email ID of both Directors.
- Company Name and their nature of business.
- Percentage of Shareholding is also required.
- Address proof of company like Electricity Bill
- Rent Agreement with NOC from Landlord with their Aadhaar
Process, Service Charges, Time duration
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WHAT'S INCLUDED IN THE PACKAGE:
- Free Consultation, as well as a Search for Your Company Name
- Assistance with Opening a Business Account Regarding PAN, TAN, Digital Signature Certificates, and Name Reservation
- Along with a Director’s Identification Number, Digital Signature
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WHAT IS A PVT LTD (PRIVATE LIMITED COMPANY)?
A small business that is privately owned and operated is referred to as a Private Limited Company. In a private limited company, the amount of a member’s personal liability is capped at the number of shares that member owns in the company. Companies Act, 2013 is the legislation that governs a private limited company. According to the Companies Act of 2013, the lowest number of shareholders necessary to launch a private limited company is two, while the maximum number of members that can be included in the company is 200.
The shareholders of a private limited company have limited liability, which means that they are not required to sell any of their personal assets if the company runs into financial difficulties. A private limited company can have a maximum of 15 directors and a minimum of two directors, and each director must be at least 18 years old. A minimum of two directors is required. It is possible for a non-Indian citizen to work for an Indian private limited company as a director.
In India, the phrase “private limited” (pvt ltd) must always be appended to the end of the name of a private limited company. The minimum amount of paid-in capital that is required for a private limited company is one lakh rupees. Even in the event that one of its Members passes away or declares bankruptcy, a private limited company will continue to operate.
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The Steps You Must Take
In order to submit documents to LegalDocs, you must complete the draught, make payment, and submit it.
Legaldocs takes action
The step-by-step incorporation process will begin after the documents have been uploaded.
Digital Signature Certificate
Digital Signature Certificate, or DSC, is used to sign a document digitally instead of with a standard signature. For establishment, DSC is required. You can get an e-kyc DSC with a set of papers or by using your Aadhar card. All company leaders should have a DSC.
Needs to be done by you
During DSC, you have to share the OTP for e-KYC.
What Legaldocs Does
Once the documents are posted, the step-by-step process of incorporation will begin.
Director Identification Number
Director Identification number or DIN is allocated to each and every director who has formed company. Without DIN, incorporation is not possible.
Action Required by you
You sit Back and Relax
Action By Legaldocs
We’ll take care of the whole process in swift manner.
Name Approval
Name Approval or Name Reservation is the process to reserve unique name through Submission of RUN form (Reserve Unique Name)
Action Required by you
You need to sit Back and Relax, In case of Rejection in the names given by you, you need to suggest alternate names.
Action By Legaldocs
we’ll take care of End-to-End Name Reservation Process
MOA, AOA and Incorporation
Memorandum of Association, Article of association and incorporation process will be initiated upon successful name reservation.
Action Required by you
Need to Sign few Drafts and affidavits as in when required.
Action By Legaldocs
Once the Name is approved we’ll do the incorporation, MOA and AOA process.
Company Incorporated
Congratulation, your company is incorporated Successfully.
Action Required by you
You can Start your Business, also you can start application for your business bank account.
Action By Legaldocs
We’ll Dispatch the Documents, DSC on your Given Address, Also we’ll for PAN and TAN
DOCUMENTS REQUIRED FOR THE REGISTRATION OF A PRIVATE LIMITED COMPANY
Documents needed You need to bring the following papers to register a Private Limited Company:
Share capital amount and suggested ratio for holding shares.
A short description of the company and its business.
The name of the city where the registered office of the company is based.
Ownership and sale deed (in case you own property).
Proof of identity for the Directors and Shareholders (PAN Card).
Proof of the listed office’s address (such as an electric bill, a telephone bill, etc.)
Address proof of the Director or Shareholder (Voter ID, Passport, Driving licence, etc.)
A copy of the most recent electricity bill, phone bill, or cell phone bill for directors.
The jobs of the board and shareholders.
Email addresses of the directors and owners.
The contact information of leaders and shareholders.
Passport-size photos of leaders and shareholders.
If the property is rented, you need to send a copy of the rental agreement along with a No Objection Certificate (NOC) from the landlord.
Affidavits of non-acceptance.
NOC for a change in the original members of MOA and the AoA.
PAN Card for the company.
If you are a foreign user, you need to show proof of nationality.
More to read: How to start a private limited company.
REQUEST FOR NEW ACCOUNT SETUP
A current account is a specific kind of deposit account that gives professionals and businessmen an easier time managing their companies. By using an online current account, businesspeople are able to take advantage of a variety of benefits, including the following:
Unrestricted business dealings
Adaptive properties and options
The provision of online banking services
Having a current account online eliminates a lot of the hassle and gives you the benefit of being able to finish the banking process whenever and wherever you want.
ARE YOU READY TO GROW YOUR COMPANY?
- In just 5 minutes
- you can get a current account with no balance
- Free Current Account Powered by ICICI Bank
ENTITY COMPARISON GUIDE
| TYPE | PROPRIETORSHIP | PARTNERSHIP | LLP | PVT | OPC |
|---|---|---|---|---|---|
| Members | Maximum 1 | 2-20 | 2- Unlimited | 2-200 | 1 |
| Legal Status of Entity | Not Considered as separate Legal entity | Not Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity | Considered as separate Legal entity |
| Members Liability | Unlimited Liability | Unlimited Liability | Liability of its members is limited | Limited to the extent of share capital | Limited to the extent of share capital |
| Registration | Not Compulsory | Optional/ Can be Registered under partnership Act 1932 | Registered Under MCA | Registered Under MCA | Registered Under MCA and Companies Act 2013 |
| Transferability Option | Not Allowed | Not Allowed | Can Be Transferred | Can Be Transferred | Allowed to only one person |
| Taxation | As in Individual | 30% of Company Profit | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable | 30% of Profit Plus CESS and Surcharges applicable |
| Annual Filings | Income Tax Returns with the Registrar of companies | Income Tax Returns with the Registrar of companies | Filed with the registrar of the company | Filed with the registrar of the company | Filed with the registrar of the company |
THE BENEFITS OF A PRIVATE LIMITED COMPANY
Liabilities are limited.
Because the private limited company is a separate legal entity, the members’ responsibility is restricted to their share only. Individuals with limited obligations do not have to spend their personal assets to meet the firm’s liabilities.
Legal entities are distinct.
One of the primary advantages of forming a private limited company is that the organisation is a separate legal entity under the law. Because of this distinction, persons from private limited companies are only liable for the activities undertaken by them and not by other individuals.
Simple to form
Forming or establishing a private limited company is a simple process. In comparison to the formation of public sectors, the process is fairly straightforward.
Funds
A private limited business can borrow money from both its debentures and its shareholders. Banking and other financial institutions offer assets on a larger scale than other public sectors.
Several Tax Benefits
A private limited firm receives more tax breaks than a public corporation. Here, the corporation pays corporation tax and avoids paying greater taxes.
Take advantage of various possibilities
In contrast to private limited businesses, you may not receive such a legal entity in the public sector.
Internationalise yourself
Other firms or industries require sufficient licencing and approval from the government for foreign investments, hence private limited companies are the only type of corporation that allows for foreign direct investment.
Existence
A private limited firm exists in perpetuity.
Tangibility
Private limited firms have a physical relationship with its shareholders.
REQUIREMENTS FOR STARTING A PRIVATE LIMITED COMPANY
Before beginning the process of establishing a private limited company in India, there are a few requirements that need to be familiarised with.
- A distinctive name for the Private Limited Company should be chosen for it, one that will not be similar in any way to any other registered trademark.
- When operating as a Private Limited Company, you are required to have a minimum of two directors at all times.
- Additionally, it is essential to keep in mind that the private limited company must have at least two shareholders. This is a requirement that must be met.
- It is required that every member of a Private Limited Company have a digital signature, which will be used during the registration process for a Private Limited Company.
- When starting a private limited company, you are required to have a minimum capital investment of one lakh of rupees.
- Make sure that you have a unique name for your company, as this will surely help you for quick registration. The process of registering a Private Limited Company is a straightforward and straightforward procedure.
- It is imperative that you steer clear of any names that could be considered offensive for your Private Limited Company.
CHARACTERSISTICS OF A PRIVATE LIMITED COMPANY
- A Private Limited Company has no dealings with the general public and is not permitted to request any kind of deposit from the general public or from any public sector.
- People are not permitted to transfer shares in a private limited company, which can assist prevent small private limited companies from being acquired by larger public enterprises.
- Each and every Private Limited Company must end its name with “pvt.ltd.”
- 200 people can be a part of a Private Limited Company at once.
- Private limited companies are relatively simple to work with.
- referencing everything in the memo.
- A private limited company was created legally under the 2013 Companies Act.
- A Private Limited Company’s perpetual existence means that it is unaffected by changes in partners, deaths, or other similar events.
- Corporate tax must be paid by a Private Limited Company.
PRIVATE LIMITED COMPANY REGISTRATION FAQS
It helps small businesses expand and qualify for loans at the same time. It is also helpful in obtaining a great deal of additional benefits for the company. Instructions for establishing a limited liability corporation A Private Limited Company can be established by at least two people working together. The company must have at least two shareholders and directors, and the directors of the firm can also serve as shareholders in the company. The minimum number of directors required is two.
It helps small businesses expand and qualify for loans at the same time. It is also helpful in obtaining a great deal of additional benefits for the company. Instructions for establishing a limited liability corporation A Private Limited Company can be established by at least two people working together. The company must have at least two shareholders and directors, and the directors of the firm can also serve as shareholders in the company. The minimum number of directors required is two.
It is possible for anyone to become a director or shareholder in the company, and being a director of the company does not require a particular qualification in order to do so.
A foreign company in India is not required to register for a DIN, but the company’s director must obtain a DSC.
Other registrations are required for a Private Limited Company, which are listed below:
Licence for a shop and an establishment.
Register for VAT with the Sales Tax Officer of the ward in which the company is located.
Employees Provident Fund Organisation Medical Insurance (ESIC) Professional Tax Register
Obtaining authorisation from the RBI/FIPB.
- The company is limited by shares.
- Infinite corporation.
- Company with a guarantee.
Here is the statement and what it says:
- Name Clause
- Registered Office Clause
- Object Clause
- Association Clause
- Capital Clause
- Liability Clause
The registered office of a firm in the same state can be changed simply by giving notification within 30 days. Yes, the company’s registered office can be moved from one state to another by following the required procedure.
It is dependent on the documents required, the authenticity of the documents supplied by the director/shareholder, the processing time required for submitting forms, and the time taken by the relevant government bodies, which can range from one to two weeks.
A Digital Signature is the sophisticated code used to affix them to computerised documents while demonstrating the same validity with a specialist as a handwritten signature. DSC verifies the authenticity of the signature.
