Private Limited Company Registration

Private Limited Company is the most preferred format of company registration by most of the entrepreneurs in India. Because of the flexibility in decision making, easy access to the banks for loans and approach towards investors to raise funds without much restrictions, made Private Limited Company a most successful business structure in India.

Requirements For Private Limited Companys

Members

A Private Limited Company required at least two members in order to register, both the members can be a Director cum Shareholder of the company. A Private Limited Company can have upto 200 person as members as per the Companies Act, 2013.

01.

Directors

In a Private Limited Company there should be minimum two(2) Directors required. To become a Director, DIN (Director Identification Number) has to be obtained. Any one of the Directors must be a Resident of India, who has stayed atleast 182 days in the previous calender year.

02.

Name of your Company

Naming your company is the crucial part, a company name has two parts Prefix and a Suffix. Prefix must be unique and different, while Suffix should reflect the business nature of your company. To find your name availability, kindly check with Ministry of Corporate Affairs time.

03.

Registered Office Proof

When registering a company, should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This Pvt. Ltd. Company registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

04.

Documents Required For The Process

PAN card copy with Self attestation.
Voter Id copy or Passport copy or Aadhar card copy or Driving license copy with self attestation.
Latest Bank account statement or Mobile /Telephone bill or Electricity Bill (not older than two months)- no need for self attestation.
Latest passport size photo in jpg.
For the registered office proof of the company, if the property is rented/ leased, then copy or rental agreement or lease agreement.
Copy of Electricity bill or Property Tax receipt or Water Tax receipt not older than two months.
Copy of No objection cert ificate from the owner of the property.
If owned property, copy of Sale Deed and Electricity bill is sufficient.
In case of NRI or Foreign national, Passport copy has to be notarized at the Indian Embassy of the particular country.
Utility bill has to be provided of the particular country where the NRI or Foreign national resides and it should be notarized.

Advantages of Private Limited Company

Separate Legal Entity

An entity means something which has a real existence; a thing with distinct existence. A company is a legal entity and a juristic person established under the Act. A juristic person is a person who is not anatural person or human being. Therefore a company form of organization has wide legal capacity andcan own property and also incur debts.

Easy Transferability

Where it is proposed to sell the business as a going concern, all that is required is to transfer the entire shareholding to the purchaser and thus facilitate easy change in management and ownership. This will save time and money of the Promoters. Huge amount of stamp duty is saved.

Perpetual Succession

Another important characteristic of a private limited company is perpetual succession. It is a popular saying that the directors may come and go the members may come and go, but the existence of a company remains forever. A company once incorporated remains alive unless and until it is wound up by complying with the provisions of Law.