Private Limited Company Registration
Starting a business is the toughest decision one can take but it gives you the maximum fulfillment of your dreams and desires. Your decision to begin your entrepreneurial journey starts with the decision of selecting the right business structure to follow. Anyone can choose a private limited company to build a scalable business. It’s the most famous legal structure for the business with multiple benefits such as limited liability, separate legal entity, ease in share transfer etc.
Private limited company is governed by MCA (Ministry of corporate affairs) under Companies Act, 2013. Private limited company can be registered with minimum of 2 directors and 2 shareholders, where shareholders and directors can be same person. The maximum number of directors can be 15 and the maximum members can be 200.
The shares division depends on the percentage of the capital amount invested in a company. The profit is also divided as per the shareholding of the shareholders.
Consulting WP – we help companies assess their skills and choose a new direction which utilizes the talents of the team and resources most productively.
Key Highlights of Private Limited Company
- Limited Liability – The limited liability shields the shareholders from personal liability and protects from other risks and losses.
- Attracts more vendors as well as employees Procures good investment from reliable investors.
- Increases the potential to grow and expand
Eligibility Criteria for Private Limited Company Registration
Our clients are often surprised by the possibilities we present to them; by thinking outside the box we present exciting new ventures:
- The company can be incorporated with have minimum of 2 directors and maximum 15 directors.
- The number of members cannot be more then 200.
- In case of foreign shareholders or directors, at least one director should be the citizen of India.
- Minimum share capital required to form up Private Limited Company is Rs1 lakh.
- However, there is no minimum cap on paid up share capital
Docs Required for Private Limited Company Incorporation
Our clients are often surprised by the possibilities we present to them; by thinking outside the box we present exciting new ventures:
- Identity proof of all Directors (Aadhar card, Driving License, PAN card, Passport)
- Address Proof all directors (Voter ID card, Passport)
- Address proof of company registered office (Rent agreement, Possession letter etc.)
- Electricity Bill of the registered office building Bank statement/ passbook of the directors
- Trademark registration Certificate (if any)
- Key Highlights of Private Limited Company.
- Limited Liability – The limited liability shields the share holders from personal liability and protects from other risks and losses.
- Attracts more vendors as well as employees Procures good investment from reliable investors.
- Increases the potential to grow and expand.
Steps to Incorporate a Private Limited Company in India?
It’s necessary to apply for a Digital signature of the designated partners before starting the private limited company registration.
The DSC is important as all the documents before submission are required to be digitally signed.
The application for DIN is mandatory for each director.
The DIN application has to make in Form DIR-3.
The private limited company name approval is an important step to establish a company.
RUN (Reserve Unique Name) form is filled for the reservation of the name given by Private Limited Company.
The name provided must be as per the rule 8 of Company Registration Act, 2013
This step involves the drafting of MOA and AOA. These are drafted under INC 33 and INC 34 respectively.
If required we can file for ESI, EPF, GST at the same time under the form names AGILE
For the Incorporation of private limited company, the incorporation forms (INC 33, INC 32, AGILE) are uploaded with SPICe form INC 32. These are
to be filled with Registrar of companies of the respective state in which the registered office of the company is located.
Once the SPICe form INC– 32 is approved, the registrar provides the company identification number (CIN) along with PAN and TAN of the company
Advantages of Private Limited Company Registration
A strong business plan requires going beyond intuition and experience, and supporting your idea with fact-based market research. Investors need to have confidence in your understanding of the market, so don’t let yourself down by skimping on research. We have access to fee-based, subscriber-only resources such as:
- Limited Liability of shareholder
Separate Legal Entity: Company legal entity are separate than its shareholders/promoters.
Perpetual Existence
Capacity to Sue and to be Sued
A Private limited company can sale, purchase and own the property like individual on its own name.
Private limited companies can easily avail financial assistance/borrowing from banks and financial institution compared to another form of entity.
Easy funding from investors
Continuity of existence
Benefits of a Private Limited Company
- Shields personal assets from business liability, limits liabilities of Directors.
The Private Limited Company (Pvt. Ltd) continues to exist even after the death of the Shareholders
Open doors to raise capital from a venture capitalist, angel investor, financial institutions etc.
Creates brand value as private limited structure is more transparent compared to other business structures.
Ownership gets transferred by just transferring shares.
Private Limited Company is a unique identity, can own/acquire and alienate, property in its name. Property owned could be anything like copyrights,
patents, machinery, building, intangible assets, land, residential property, factory etc.
Funding or Borrowing Capital
It’s easy for a private limited company to get funding or borrow capital from angel investors/venture capitalists/banks/ financial Institutes
in comparison to other company types.
- Limited Liability of shareholder
Separate Legal Entity: Company legal entity are separate than its shareholders/promoters.
Perpetual Existence
Capacity to Sue and to be Sued
A Private limited company can sale, purchase and own the property like individual on its own name.
Private limited companies can easily avail financial assistance/borrowing from banks and financial institution compared to another form of entity.
Easy funding from investors
Continuity of existence
Liabilities of a Private Limited Company
It’s easy for a private limited company to get funding or borrow capital from angel investors/venture capitalists/banks/ financial Institutes
in comparison to other company types.
- A private limited company must hold a board meeting annually
File annual returns with MCA (Ministry of Corporate Affairs)
Annual account audit by a CA is mandatory
Private limited company requires filing the annual return with the Income Tax Department
FAQ`s
It’s necessary to apply for a Digital signature of the designated partners before starting the private limited company registration.
The DSC is important as all the documents before submission are required to be digitally signed.
The application for DIN is mandatory for each director.
The DIN application has to make in Form DIR-3.
The private limited company name approval is an important step to establish a company.
RUN (Reserve Unique Name) form is filled for the reservation of the name given by Private Limited Company.
The name provided must be as per the rule 8 of Company Registration Act, 2013
This step involves the drafting of MOA and AOA. These are drafted under INC 33 and INC 34 respectively.
If required we can file for ESI, EPF, GST at the same time under the form names AGILE
For the Incorporation of private limited company, the incorporation forms (INC 33, INC 32, AGILE) are uploaded with SPICe form INC 32. These are
to be filled with Registrar of companies of the respective state in which the registered office of the company is located.
Once the SPICe form INC– 32 is approved, the registrar provides the company identification number (CIN) along with PAN and TAN of the company
Once the SPICe form INC– 32 is approved, the registrar provides the company identification number (CIN) along with PAN and TAN of the company
Contact us at the Consulting WP office nearest to you or submit a business inquiry online.
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