Private Limited Company

 Private Limited Company is a popular option to start a business in India by startups and businesses with higher growth aspirations. Pvt Ltd company is incorporated under the Companies Act  2013, and governed by the Ministry of Corporate Affairs (MCA). It is a registered corporate structure, that provides a business with a separate legal identity from its owners. Hence, providing key advantages like the ability to contract in its own name, and safeguard personal assets of the owners from business liabilities.

Process of Incorporation of Private Limited Company

1. Complete the Application Form
You are requested to first fill the simple questionnaire provided by our expert team.

2. Document Processing
At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.

3. Application for DSC
First of all DSC (Digital Signature Certificate consisting of the E-signatures) is required to be prepared. This step can be ignored if prepared already. It will approximately take 1-2 days.

4. Name Availability
The next step is to check the name availability. The name should be unique in nature and should not be similar to name of any other entity registered. It may take at least 1-2 days.

5. E-filing for incorporation of a Company
Once the name is approved, an online application is required to be filed through SPICE+ along with the requisite documents as obtained from the client with ROC. The MOA as well as AOA shall be filed online. This process again takes approximately 2-3 days.

6. Get Certificate of Incorporation
Once the Company gets incorporated we will share all the docs like Incorporation Certificate, MOA , AOA and Digital Signatures.

 

Advantages of Private Limited Company:-

• There is a Limited risk to personal assets in Private Limited Company.
• Pvt. Ltd. Co. is a  Separate Legal Entity.
• In the Private Limited Company there would Limited Liability for members.
• Shares of a company limited by shares are transferable by a shareholder to any other person. The transfer is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership
• Just as one person can bring a legal action in his/her own name against another in that person’s name, a company being an independent legal entity can sue and be sued in its own name.
• A company has ‘ perpetual succession ’, that is continued or uninterrupted existence until it is legally dissolved.
• For a private company, the earlier minimum number of the share capital was Rs. 1,00,000, but now there is no such minimum capital compulsion.
• Therefore there is no pressure of fund requirements.
• It is easy to fetch funding in a private limited company by transferring of share.

Documents Required For Private Company Registration

• Below all the documents are required
• PAN card of all directors.(In case of NRI or Foreign Nationals -Passport of director)
• Voter card / passport / driving licence of all directors.
• Photos of all director.
• Mobile bill / electricity bill / Updated bank passbook of all directors  not older than two months.
• Digital signature certificate of directors(class -3).
• Rent agreement / ownership proof with electricity bill / water bill / property tax receipt of office address proof.
• In case of NRI or Foreign Nationals, documents of Directors and Subscribers must be notarized .