Private Limited Company Registration
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Private Limited Company Registration Online: Process, Documents Required, Fees
What Is a Private Limited Company?
- In India, a Private Limited Company stands out as a popular business structure regulated by the Companies Act, 2013. More than 95% of registered companies in India are private limited companies. To register a Company under the Companies Act, 2013, it needs to be registered with ROC (Registrar of Companies) as per the guidelines & norms laid down by the MCA (Ministry of Corporate Affairs).
Features of a Private Limited Company
- Membership: A minimum of two members (shareholders) and two directors are required. At least one director must be a resident of India. There can be a maximum of 200 members in a Pvt Ltd company.
- Limited Liability Structure: This is a major advantage. Shareholders’ liability is limited to their investment in the company’s shares. Their personal assets are protected if the company faces debts or losses. Therefore, even in the case of loss under any circumstances, the personal and individual assets of the shareholders are not required to sell.
- Separate Legal Entity: A Pvt Ltd is distinct from its owners. It can own property, enter contracts, and sue or be sued in its own name. This means that even if all the members die, or the company becomes insolvent or bankrupt, the company still exists.
- Private Ownership: Shares are not offered to the public. Ownership is restricted to a defined group of shareholders.
Benefits of a Private Limited Company Registration
- Fund Raising Opportunities: Access a wider pool of investors through private equity or venture capital funding. The corporate structure facilitates investment by providing clear ownership and valuation.
- Tax Advantages: Enjoy various tax benefits tailored for companies, such as deductions, exemptions, and lower tax rates.
- Liability Protection: Safeguard your personal assets from business-related risks. A Private Limited Company acts as a shield, protecting shareholders’ personal belongings from creditors in case of financial difficulties.
- Enhanced Credibility and Trust: A separate legal entity instills trust and confidence among customers, suppliers, and investors. It signifies a formal business structure committed to long-term operations.
- Scalability and Growth: Position your business for expansion and growth. The Private Limited Company structure offers flexibility in management, fundraising, and strategic planning, enabling you to adapt to changing market conditions.
Documents required for registration
List of documents related to Directors of the Company
- Aadhar and PAN Card of the Directors;
- Latest passport-sized photos of all Directors;
- Copy of bank statement or utility bill (not older than three months)
- Copy of passport (in case of foreign national or NRI)
List of documents related to the Company’s Registered Office
- Latest copy of electricity bill and utility bill
- Rental Agreement (if place is rented)
- Non Objection Certificate (NOC) from owner of the property (if place is consent)
Registration Fees
The Total Fees for register Private Limited Company is Rs. 8499 Only!
Contact Us today and GET FREE CONSULTATION through our Expert Team about Private Limited Company registration and how we can assist your business.
How can we Help You Establish Your Company ?
Setting up a Private Limited involves various legal and financial procedures. Our team of professionals at Ease Compliance can guide you through every step, including:
- Company Name Approval
- Digital Signature Certificate (DSC) Procurement
- Director Identification Number (DIN) Application
- Drafting of Memorandum of Association (MOA) and Articles of Association (AOA)
- Company Incorporation
- Compliance with the Companies Act, 2013
Registration FAQs
Can the private company be incorporated with a residential address?
Yes. The Private Limited company can be registered on residential address. Company needs to provide address proof for registration.
Is GST registration compulsory for Private Limited Companies?
No, GST Registration is not complusory. Company needs to take GST only if it's turnover exceeds Rs.40 lacs.
When is the statutory auditor required to be appointed?
Directors are required to appoint auditor within 30 days of registration of company.
What is minimum capital requirement for private limited company ?
There is no minimum capital requirement for private limited company. one can start with share capital of Rs.10. Ideally, Rs.100,000 is recommended.