Private Limited Registration - Overview
A Private Limited Company is a small business which is maintained privately, it is one of the highly recommended businesses in India especially for startups. The registration of the private limited company is governed by The Companies Act 2013 in India
According to the Companies Act, 2013, a minimum of 2 shareholders is needed to begin a private company, while a maximum of 200 members. In case a private limited company undergoes any financial risk, the personal assets of members or shareholders are not subject to sell, i.e. they ought to have limited liability. There must be a minimum of 2 directors and a maximum of 15 directors are required for online company registration. The suggested director must be 18 or crossed 18 years of age. The proposed director of a private limited company in India can also be a foreign national No minimum paid-up capital investment is required for the registration of the private limited company. And importantly every private limited company must include "pvt.ltd." after their company name
This type of company does not have any relationship with the public are not allowed to ask for any validatory from the public or from any of the public sectors. People are not ennobled to transfer shares in a private limited company, as it protects takeovers of private limited companies from big companies
Documents Required For Registration
- PAN Card of shareholders and Directors A valid passport is a must for foreign nationals .
- Identity Proof of Shareholders and Directors, such as aadhar card and Voter ID/ Passport/ Driving License.
- Director’s Address Proof of Shareholders and Directors, such as the latest Telephone Bill /Electricity Bill/ Bank Account Statement.
- Passport size photograph of Shareholders and Directors of updated.
- Business Address Proofs such as latest Electricity Bill/ Telephone Bill of the registered office address
- NOC or No Objection Certificate to be obtained from the owner(s) of registered office
- Rent Agreement is needed if the registered office is a rented place.
Process To Register
- Applying for Digital Signature Certificate or DSC.
- Applying for the Director Identification Number or DIN
- Checking name availability and Applying for the name availability.
- Drafting of MoA, AoA & other required documents and Filing of the EMoa and EAOA to register a private limited company
- Applying for the PAN and TAN of the registering company
- Certificate of incorporation will be granted by RoC with PAN and TAN
- Opening a current account on the company name in an authorized bank
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