Private Limited Company
Get your business incorporated as a private limited company registration in India and get assistance for company name availability check, DIN, DSC, MOA, AOA, free support and consultation with Filecrat experts.
Private Limited Company
The word 'Private' denotes that a Private Limited Company cannot invite the Public to purchase its Shares and the word 'Limited' denotes that the Liability of the Shareholders and Directors is Limited. It is the most popular corporate entity among small, medium and large businesses in India.
Requirements of Private Limited Company
- Minimum 2 shareholders
- Minimum 2 Directors
- One director being Indian Citizen and Resident
- No Minimum Capital Requirement
- A unique Name
Advantages and Benefits
- Raise Funds: A Pvt Ltd company is more trusted than a sole trader or a Partnership. Easily raise funds from Investors.
- Separate Property: A pvt ltd company as a legal entity is capable of owning its funds and other properties.
- Build a Great Team: Only pvt ltd companies and limited companies can offer stock ownership and ESOP plans. Employees who have stock ownership or ESOPs feel they are a part of the business, and it helps improve morale, retention and profits.
- Taxation: A pvt ltd companies Are Often Taxed at A Lower Rate and Are Provided with Better Taxable Benefits as Compared to other Forms of Business Organization.
- Easy Transferable Ownership:The shares and other interest of any member in the pvt ltd company can be transferable in the manner so provided by the Articles of such company.
- Perpetual Succession: Changes within the management does not bring any affect onto the identity of the pvt ltd company, the Company will remain the same with same privileges, immunizes, estates and possessions.
Procedure of Private Limited Company Registration
STEP 1: Digital Signature Certificate (DSC) and Director Identification Number (DIN) for all the proposed Directors of the Company must be obtained.
STEP 2: As DIN and DSC are received the application for name approval shall be made in RUN (reserved unique name) containing 2 names on priority basis.
STEP 3: After obtaining name approval, the draft Constitutional Documents of proposed Company i.e. Memorandum of Association (‘MOA’) and Articles of Association (‘AOA’) of the company is to be drafted.
STEP 4: File SPICe (Form-32) with the RoC along with e-MoA(Form-33), e- AoA ( Form-34) .
STEP 5: As the application for registration of pvt ltd company is approved the certificate of the Incorporation will be granted by the ministry.
Video on Private Limited Company Registration
- What is Private Limited Company
- Requirements of Private Limited Company
- Process of Registration to form a private ltd company
- Documents Required
- Name approval in RUN (Reserve your unique Name)
- 2 Directors DIN
- 2 Directors DSC
- Filing of E-forms with the Registrar of Companies (ROC)
- MOA + AOA
- Company PAN Card
- Company TAN/TDS Number
- Issue of Incorporation Certificate
- GST Certificate
- PAN Card of all directors
- Passport Size Photograph of directors
- ID Proof: Voter ID/ Passport/ Driving License
- Address Proof of Director: Bank Statement/ Utility Bill
- Registered Office Address proof: Copy of Rent agreement (If rented property), Electricity Bill Copy with the NOC or Sale Deed (anyone)
It provides creditability to business in the eyes of financial institutions, suppliers and potential clients. As it makes easier for companies to get loans at favorable terms from banks or convincing potential clients while entering into deals.
Any individual can become a shareholder in a private limited company. For becoming a director in a company, no professional or educational qualification is required.
As per latest regulation, there is no minimum capital required for the company
Yes, immensely suitable! The private limited companies have been a hugely popular form of business entity amid foreign investors for making the direct foreign investment (subject to FDI Guidelines) in any country, by means of a wholly-owned subsidiary, a joint venture, etc.
It is a tax that is demanded on documents. The stamp duty includes majorly the legal documents such as cheques, military commissions, marriage license, receipts and land transactions. When a physical stamp is attached to the document, it is denoted that, the stamp duty had been paid for particular document which was effective legally.
You don't need a proper office address to incorporate a company. You can register your residential address as a registered office address of your business with MCA (Ministry of Corporate Affairs) for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form. However, commercial activity should not be prohibited on that address by local authorities.
NRIs are only allowed to incorporate limited companies in India and the private limited company is ideal for NRIs. Also, there is no requirement to obtain the prior approval from the government or RBI. But, in order to register a private company at least one director must be a resident of India.
This is a certificate issued by the Registrar of Companies House to document the incorporation of the company. The certificate will record the company name, number and the date the company is incorporated.
To set up a limited company using the Company Incorporation Wizard you will need the following information:
- A unique name for your Company
- A Registered Office addresses
- At least one Director willing to accept the duties and the responsibilities that go with the post
- At least one Shareholder willing to buy a single £1 share in the company. They can also be a director or secretary.
- One Secretary (optional)
- Key information for each director, secretary and shareholder: town of birth, eye color and Mothers maiden name.
- Credit card details to make payment
After obtaining the DSCs and DINs, the next task is to ensure the availability of the proposed name of the private limited company through filing the Form INC-1. Then, drafting appropriate Memorandum of Association (MOA) and Articles of Association (AOA) of the company will be made. And, finally, Form INC-29 will be filed with the concerned ROC for incorporation of the proposed company, together will all have required documents.
Capital means investment made by shareholders into the company. Authorized capital is an amount up to which company can issue shares. This capital is mentioned during incorporation of the company based on which ROC registration fees and stamp duty is paid. Paid up capital is an actual investment which goes from shareholders into company bank account, against which share certificate is issue by the company.
HOW FILECRAT WORKS
With over 100+ offerings, we are here for all your filing needs
PREPARE AND REVIEW
We collect information from you and draft documents
Finalized document within the agreed turnaround time and you’re done.
Contact With Us