Private Limited Company Registration

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Pvt Ltd Company Registration

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Private Limited Company Registration Online In India

Want to register your private limited company?

Not finding the appropriate service provider?

Finacbooks offers you best services and the most popular ways by which you can easily set up your business in India. In addition to it, you will also get to learn about all the tax and regulatory advantages in relation to private limited company.

We help you register in three simple steps:

Firstly, we register the Directors of the company with the Ministry of Corporate Affairs (MCA)
Secondly, we help you in choosing the most appropriate company name
Lastly, we help you in drafting your company’s constitution. (Memorandum of association & articles of association)

A Private Limited Company is the most common type of Company Registration in India, which is governed by the Companies Act 2013 under the Ministry of Corporate Affairs (MCA). It is mandatory to have a minimum of two directors and two shareholders. These directors and shareholders can either be the same or different individuals, with at least one director being an Indian Resident.

If we take the current scenario, Start-ups and small businesses are increasingly choosing Private Limited Companies for doing businesses as it becomes easy for them to raise the funds from outside and at the same time it also limits the liabilities of its shareholders. It enables owners to provide employees with the option to own shares while reserves the right to hire and retain the best talent. Foreign nationals, foreign corporate entities or even NRIs can be Directors as well as Shareholders of a Private Limited Company via Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.

A Private Limited Company has many unique features that make it an ideal business for countless small and medium sized businesses that are professionally managed or family owned. Some of the unique features of a Private Limited Company are as follows –

Limited liability protection to shareholders,
Separate legal entity status
Ability to raise funds
Perpetual existence.

Let us take a look at few immediate advantages of a Private Limited Company:

Greater freedom with limited liability
Increased capital contribution and greater stability
The prospects for future business scalability

What Is Included In Our Package?

Eligibility Consultation

Document Preparation

Application Drafting

Government Fees

Procedure for Online Private Limited Company Registration

Fill out Registration Form

You have to fill up our easy-to-use business registration form and submit the required documents to register your business.

Obtain DSC and DPIN

After issuing your documents, we provide you with Designated Partner Identification Number and a Digital Signature Certificate.

Verification and Name Approval

Your all details will be verified. Subsequently we move ahead with the name approval.

Document Submission

All the essential papers are created by us and then filed with ROC on your behalf.

Your work is done!

When your organization is registered, we hand over all the files and DSCs.

Documents Required for Private Limited Company Registration in India

Identity and Address Proof:

For the Indian nationals, it is necessary to submit identity proof and address proof of all the shareholders and directors. Permanent Account Number (PAN) card copy of all the directors is also a mandatory requirement for company registration.

If you are submitting bank statements or electricity bills as a proof of address, it should not be less than 2 months old at the time of submission.

For foreign nationals, Submission of apostilled or notarized (attested to/by a notary) copy of your passport is a mandatory requirement. In case the document is in foreign language, it should be translated into English and notarized or apostilled. The address proof submitted by the director should have his name mentioned in the passport with the current address. The document submitted by a foreign national as an identity or address proof should not be older than 1 year.

Registered Office Proof:

To validate the registered office address of the company, the following documents must be submitted during company registration online process or within 30 days of incorporation of the company –

The registered document containing the name of the company and its address of the registered office. Or
Notarized copy of lease/Rent agreement in the name of the company plus rent paid receipt copy not older than 1 month.

Following additional documents may be provided as a proof of registered office –

If it is rented, the NOC from the landlord is required.
Proof of utility bills such as Telephone, electricity, gas, water showing the address of the premises in the name of owner.

Identity proof of Directors and Shareholder

PAN for Indian Nationals Notarised Passport Copy for Foreign Nationals
Proof of Registered Office in India

Rental Agreement or Sale Deed / Copy of electricity Bill or Electricity Bill NOC letter from Landlord for Use of
Address Proof of Directors and Shareholders

Passport, Drivers Licence, Aadhar card and Bank Statement
Signed Incorporation Documents

Signed Digital Signature Application Documents in Hard Copy Other Incorporation Documents Signed and Uploaded

Advantages of a Private Limited Company

Separate Legal Entity

A Private Limited Company is a legal entity and a juristic individual established under the Companies Act. Thus, a company has a range of legal capacities, such as opening of a bank account, hiring of employees, taking on equity, obtaining licenses and much more. The members (Shareholders/Directors) of an enterprise have no personal liability towards the creditors of the enterprise for company's debts.

Uninterrupted Existence

A Private limited company has an advantage of perpetual succession. It means that it has an uninterrupted existence until it is legally dissolved. A company is a distinct legal entity and is unaffected by the departure or the death of any of its Directors or shareholders. It continues to exist regardless of any changes in the ownership.

Easy Transferability

The ownership of a business can easily be transferred to a company by transferring shares. The signing, transfer and filing of the share transfer form along with the share certificates are sufficient documents for transferring the ownership of a company. In a private limited company, the consent of other shareholders may be required for the transfer of shares.

Borrowing Capacity

Private limited company has the ability to raise funds in India. With the RBI permission, a company can issue equity shares, preference shares, debentures and accept deposits too. Banks and financial institutions are more willing to provide funds to a company rather than partnership firms or proprietary firms.

Owning Property

A private limited company is an artificial person who can acquire, own and also isolate property in its name. The property owned could be machinery, building, factory, residential property, land, intangible assets etc. No shareholder can claim the property of a company as long as the business is a going concern.

Registering a Private Limited Company is an Easy 3 Step Process

Obtaining DSC & DPIN

A Digital Signature Certificate (DSC) and a Designated Partner Identification Number (DPIN) both are necessary for the proposed Directors of the Private Limited Company. DSC and DPIN can be obtained within five to seven working days for the proposed directors.

Name Approval

A minimum of one and a maximum of six suggested company names must be submitted to the MCA. Subject to availability, naming standards as well as the MCA processing period, name approval can be obtained in 5 to 7 working days.

Company Registration

Registration documents along with an application for registration can be submitted to MCA. Subject to the application processing time, MCA will usually approve the application of company registration in 5 to 7 working days.

Things to be considered while Choosing a Name for your Private Limited Company

Selecting the name of the business is an important aspect. It is the very first impression for the vendors, the stakeholders and the buyers. Therefore, it needs to be in relation of the nature of the business. It must be relevant and attractive. Here are some of the following aspects which we should keep in mind while naming the business -

The name of the company should be concise and short. People should be able to pronounce it easily and recollect the name as early as they read it or hear it.
It needs to be the face of the company.
The company name should be unique. It should not be identical or similar to an already existing business or a trademark.
It is best to avoid the name of a person (be the owner or a shareholder) to be used in the company’s name. This avoids the need to rename the company in the event of his or her exit.
The company name needs to be ended with the suffix "Private Ltd".
The company name should not be contradictory to the law. It should not be abusive and against the practices, beliefs and values of any particular group of people.

How Finacbooks help in Private Limited Company Registration?

Finacbooks is a leading Indian portal providing accounting, finance & taxation services to small businesses. We are having more than 10 years of experience in helping individuals providing Private Limited Company registration at a least possible price. We will guide you through the entire process of Pvt Ltd Company registration. To avail the best deals on Private Limited company registration online, kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com

Pvt Ltd Company Registration FAQs

Do I have to be actually present during this procedure?

There is no need to present at all. A new business registration is a complete online process and all written documents are filed electronically. You have to send us scanned documents of your all necessary forms and documents.

How much time is needed to form a private limited company in India?

If your all files are in order, it is going to take no longer than fifteen days. Nevertheless, it depends on the work of the registrar.

What is a Director Identification Number (DIN)?

Director Identification Number is a unique number issued by the Ministry of Corporate Affairs to an existing or a proposed director of a company which is incorporated.

What documents are needed to complete the process?

All directors should provide a copy of identity proof and address proof. In addition to it, a copy of PAN Card is also required. No-objection Certificate (NOC) should also be submitted by the proprietor of the registered business premises.

Does a private limited company have a continued existence?

Yes, private limited company has a continued existence till they are achieving the annual compliances. When they don’t comply with the conditions, it is going to be dormant and lastly it struck out from the register altogether.

Is it necessary to get company’s book audited?

Yes, a private limited company must employ an auditor. An auditor should be appointed within thirty days of incorporation. Compliances are crucial and should be followed by private limited company as non-compliance may cause company a penalty of lakhs of rupees and sometimes may result in blacklisting of directors.

What are articles of association and memorandum of association?

Memorandum of association is a legal document which specifies the scope of business activities of the company and defines its relationship with the shareholders whereas articles of association is a document which specifies the company’s rules and regulations for its operations as well as defines the company purpose. The document also explains how the tasks will be accomplished in an organization including the appointment of directors and handling of financial records.

Who could be in a private limited company?

Any individual/organization can become a part of a private limited company including foreigners, NRI etc. The person should be 18+ above and must hold a valid PAN card.

Whether a salaried person can become a director in a private limited company?

Yes, a salaried person can become a director in private limited company, one person company (OPC) or limited liability partnership (LLP). In this case, one needs to look at the employment agreement, if it enables such provisions.

What if you want to transform an existing private limited company into a LLP?

An existing private limited company can be transformed into a LLP under following circumstances -

If the company have no security interest in its assets at the time of application.
When there are no partners of the LLP and the shareholders of the company are the only partners.

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