Private Limited Company Registration
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Advantages Of Private Limited Company?
- Preferred by banks, VCs & investors.
- Easy to allocate and redistribute shares to investors or other directors.
- Separate legal entity which limits your liability.
- Offers the flexibility of a partnership firm and the advantages of a Public Ltd Company.
- Easy to register, manage & run.
- Easy to dissolve or wind-up.
Private Limited Company Benefits
- It is flexible and has limited liability
- Greater capital contribution and greater stability
- Possibility to grow big and expand
What is Private limited company?Private Limited Company registration is the most popular legal structure option for businesses in India. A private limited company can have a minimum of two members and a maximum of fifty members. The directors of a private limited company have limited liability to creditors. In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors. If you want to start a company in India then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company as a registered company have multiple advantages from easy to register to easy to dissolve. Start-ups and growing companies prefer private limited company as it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to pull in top talent.
Private Limited Company Registration can be done through Indian BLI(company registration agent) in Hyderabad, and other Indian cities. If you want to register your own company then you can totally rely Indian BLI(company registration services provider). We will help you with company formation procedure and new company formations procedure. All the company registration information will be given to you by our experts.
What Is Included In Our Company Registration Package?
DIN for 2 Directors
DSC for 2 Directors
ROC Fees & Pan card
Name search & approval
Free Accounting Software & GST filing
Procedure For Company Registration
Complete our Simple Form
Obtain DSC and DPIN from us
Verification and Name Approval
Your work is completed
Documents Required For Company Registration
Copy of PAN Card of directors
Electricity/ Water bill (Business Place)
Passport size photograph of directors
Copy of Property papers(If owned property)
Copy of Aadhaar Card/ Voter identity card of directors
Landlord NOC (Format will be provided)
Copy of Rent agreement (If rented property)
5 Steps For Company Registration
- Application of DSC & DPIN : First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.
- Name approval : You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.
- MOA & AOA submission :Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and
- Get incorporation certificate :It typically takes 15- 25 days to form a Private limited company and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.
- Apply for PAN, TAN and Bank account : Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.
Minimum Requirements For Company Registration
- Minimum 2 Shareholders
- Minimum 2 Directors are required
- Minimum 1 Lac Share Capital
- DPIN for all the Directors
- At-least one Designated partner should be an Indian Resident
Frequently Asked Questions
1Is it necessary to have 2 directors for Private Limited Company Registration?
Yes, you need a minimum of two directors for a private limited company. The maximum members can be 200. If you are the sole owner, you can register as a One Person Company.
2Who can be a member in Private Limited Company?
Any individual/organization can become the member of the private limited company including foreigners/NRI. However, the individual must 18+ above in terms of age and should have a valid PAN card.
3For incorporation of private limited company do i have to be present in person?
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail. They get the company incorporation certificate from MCA via courier at their business address.
4Are there any other payments to be made for incorporation certificate in addition to fee paid at the time of registration?
There is absolutely no other payment. Our charges are inclusive of everything. We will send you an invoice with no hidden charges. Our team provides you support till you get your bank account.
5What is the time taken by Indian BLI in forming a Private Limited Company?
BLI can incorporate a Private Limited Company within 15-25 days. The time took also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents prior to starting the registration process.
6Can NRIs/Foreign National become a Director in Private Limited Company?
Yes, an NRI or Foreign National can become a Director in a Private Limited Company. They can get a DPIN from Indian ROC. Also, they can be a majority shareholder in the company. But, at least one Director on the Board of Directors must be an Indian Resident.
7What is the minimum capital required for forming private limited company?
You need to start the company with a minimum capital of Rs. 100,000. However, you neednot pay this amount to the bank. You can also show that the capital has been utilised as the pre-incorporation expenses of the startups e.g, private limited registration expenses. You can also show this capital has been infused in form of assets such as computers etc.
8Do i need a proper office address to start a company?
No, you don’t need a proper office. You can even register your company at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office.
9What if i have only one director for my Private limited company?
Well, you can get someone from your family or friend circle as the second direction and give them marginal share, e.g, 0.01%. You also have the option to register a One person company, but it will not be possible to add directors in OPC later.
10Why a Private limited company is called separate Legal Entity?
A company is a legal entity and a different person established under the Act. A company is treated as a different person which can own property and have creditors or debts. The members (Shareholders/Directors) of a company will have no liability to creditors of a company in case the company is unable to pay the debts.
11Can a Salaried working person also become a director of a Private Limited Company?
Yes, you as a salaried person can become the director in private limited, LLP or OPC private limited company. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.
12Can i convert my Limited Liability Partnership (LLP) in a Private Limited Company?
No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008 and the Companies Act, 2013 don’t have any provisions on conversion of LLP in a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP Company just needs to issue a no objection certificate.