Need Help with Company Registration?
Overview
A private limited company is a business entity held by private stakeholders. In this case, the liability arrangement is limited liability, while the liability of a shareholder depends on the number of shares held by them. A private limited company is considered a separate legal entity from its owners and must have at least two members and two directors.
- Eligibility to form Private Limited Company
- A Private Limited company must have minimum 2 and Maximum 15 Directors. However, a person person can hold the office of director simultaneously in 20 companies.
- A Private Limited Company can have Min. 2 and Max. 200. Shareholders. However, a person can act both as director and shareholder simultaneously.
- At least one board member must be an Indian national to incorporate a company in India.
Documents Required
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Passport Size Photograph
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PAN Card
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Registered Office Address
Copy of Electricity Bill / Water Bill / Gass Bill
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Adhaar Card/ID Proof
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Address Proof
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No Objection Certificate
Advantages of Becoming Private Limited Company
Limited Liability
Under the Startup India scheme you can avail lot of the benefits like raise the funds, subsidy for the trademark registration etc.
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Mandatory Compliance for a Private Limited Company
There are various statutory compliances which Private Company need to follow. There are certain aspects that need to be kept in mind. Some of the elements are:
4 board meetings in a calendar year with 1/3rd of the total number of directors or a minimum of 2 directors. The minutes are to be recorded.
An AGM is required to be conducted every year and there should not be a gap of 15 months between each of the two AGMs.
Appointment of the Auditor within 30 days of the incorporation of the company through Form ADT-1 to the RoC.
Apart from these there are other requirements too, which are:
Process of Registering Private Limited Company
Fill the form and upload the documents for the application.
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Post-application our experts will call back and proceed accordingly.
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A draft MOA and AOA Bsuiness Objective, Porposed company name will be further discussed.
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Will help in application of DSC process.
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All documents are then filed to the Registrar Of Companies (ROC) of the concerned state for registration and incorporation.
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Form SPice-B, e-MOA. e-AOA, Form Agile and Form Inc-9 will be filed for approval.
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Once all the process is done it is just a matter of time before one gets to register a company.
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FAQ
How can I Register My Private Limited Company?
Ministry of Corporate Affairs offers e-Services on the MCA Portal, for which individuals are required to register. Government of India reduced the fee for registering a private limited company, but you cannot register your business for free. The charges are minimal but yet not free.
What are the Documents required for Registration of Private Limited Company?
The documents that are required for private company registration are-
Owner/Director’s Documents.:
- Directors PAN
- Directors ID proofs (Aadhar Card, Voter ID Card, Passports, Driving License)
- Directors Address proof (Electricity Bill, Telephone Bill, Mobile Bill, Bank Statement.)
- Passport size Photograph
- Unique E-mail Id for all Directors.
- Unique Mobile Number for all Directores.
- If, Foreign Director International passport mandatory.
Companies Documents:
- Registered office address
- Lease or Leave and licence agreement if the land is rented or taken on leased.
- NOC from the landlord.
How to Convert OPC into a Private Limited Company?
The One Person Company (OPC) may be transformed right into a Private Limited Company (PLC) as per Section 18 of the Companies Act, 2013 and the provisions of Companies (Incorporation) Rules of 2014. The conversion of OPC right into a Private Limited company will now no longer have an effect on the prevailing debts, liabilities, duties or contracts of the OPC. The necessities which are important for the conversion of OPC are changes withinside the Memorandum of Association (MOA) and Articles of Association (AOA) of the OPC (As consistent with the provisions supplied in phase 18 of the Companies Act, 2013, alongside phase 122 of the Act). For incorporating a personal constrained organisation there desires to be no less than contributors and directors. To follow for conversion of OPC to a personally constrained organisation, you want to fill the shape INC-6, to the Ministry of Corporate Affairs, Govt. of India.
How to avoid rejection of Registration of the Company by ROC?
The registration of a company is a scrutinizing process and thus there are few companies that get rejected under certain rules. Some of the rules are:
- The name does not align with the principles or objectives of the company.
- A translated name of a reputed brand name.
- Phonetic resemblance to an existing company.
- Includes words that are offensive to any community.
These are some of the major points out of many other points of rejection.
What is Digital Signature Certificate?
A Digital Signature Certificate(DSC) is an electronic and legal alternative of traditional signature. It can be presented electronically to obtain services or information on the internet or else to sign documents digitally. Also, users can utilize a digital signature certificate to send encrypted emails.
What is Director Identification Number (DIN)?
DIN stands for Director Identification Number. It is a unique eight-digit identifier issued by the Ministry of Corporate Affairs in India to individuals who are appointed as directors of companies. The DIN Once allotted valid for lifetime. The DIN helps the government keep track of all the directors. It is used on all official documents that requires the signature of the Director. Introduction of yearly KYC is a part of updating the unique Mobile Number and Email ID of all the DIN holders under the MCA System.
What are the types of Company can I register in India?
There are various types of company registrations that are available in India that one can register for: They are:
- One Person Company (OPC)
- Private Limited Company
- Public Limited Company
- Limited Liability Partnership (LLP)
- Non-Profit Organizations (Section 8 Company)
Whats is Authorized Capital and Paid Up Capital?
Authorized Capital and Paid-up Capital? Answer: The Capital of a company is the money given by the shareholders to conduct the business activities. It is mandatory under the Capital clause of the Memorandum of Association (MOA). The main differences between the authorized capital and the paid-up capital of a company are described below.
Authorized Capital
- The Authorized Capital is the maximum amount that a company can legally authorize for the issue to the shareholders.
- The amount should be more than or equal to that of the paid-up share.
- Authorized capital can be altered anytime with the prior permission of the shareholders.
Paid-up Capital
- The Paid-up Capital is the amount of money actually paid by the shareholders.
- Under the Companies Amendment Act of 2015, the requirement of having a minimum prescribed paid-up share capital has been removed.
What is MOA and AOA?
MOA stands for Memorandum of Association whereas AOA stands for Articles of Association. Both documents are important sources of information for shareholders and other stakeholders of a Company.
MOA is used in providing information regarding:
- Name
- Business Objectives
- Objectives Incidental to business
- Registered office address
- The clause regarding limited liability
- Share capital of the Company.
It helps understand the relationship of a Company with others.
AOAs on the other hand helps provide the necessary documents when the company is incorporated with the Registrar of Companies (ROC). AOA and MOA jointly become the laws and bylaws of the Company