Overview
Download Guide
Overseas Incorporation
Benefits of Company Incorporation
How to Register a Company
Company Registrations in India 2023
Characteristics of Private Limited Company
Checklist for Pvt Ltd company registration
Online Company Registration in India - An Overview
There are numerous advantages to registering a company. By doing so, you enhance the credibility of your business, which can lead to increased consumer trust. Additionally, company registration online can provide various benefits that can help your business to grow and succeed.
One of the most highly recommended methods for starting a business in India is to establish a private limited company, which provides its shareholders with limited liability while imposing certain ownership restrictions. When it is LLP, the partners will manage it. On the other hand, a private limited company registration allows for directors and shareholders to be separate entities.
As your dependable legal advisor, Vakilsearch offers a cost-efficient service for registering your company in India. We handle all legal procedures and ensure compliance with the regulations set forth by the Ministry of Corporate Affairs (MCA). Upon successful completion of the pvt Ltd company registration process, we provide you with an Incorporation certificate (CoI), as well as PAN and TAN documents. With these in hand, you can easily establish a current bank account and commence your business operations.
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Benefits of Pvt Ltd Company Registration
There are numerous advantages to registering a company. By doing so, you enhance the credibility of your business, which can lead to increased consumer trust. Additionally, company registration online can provide various benefits that can help your business to grow and succeed.
1. Shield from personal liability and protects from other risks and losses
2. Attract more customers
3. Procure bank credits and good investment from reliable investors with ease
4. Offers liability protection to protect your company’s assets
5. Greater capital contribution and greater stability
6. Increases the potential to grow big and expand
How to Register a Company?
Registering a company in India has become incredibly convenient and accessible. At Vakilsearch, we have simplified the process to ensure a seamless experience, whether you want to register a private limited company or any other business structure. You can gain comprehensive insights into the registration procedure with few essential steps. The online registration system has made the entire process user-friendly and streamlined, eliminating any hassles.
Steps For Company Registration Process in India
Step 1: Collecting Initial Documents
Gather the necessary documents and get them verified for the incorporation process.
Step 2: DSC and Name Approval
Apply for Digital Signature Certificate (DSC) and seek approval for your company name from MCA.
Step 3: Collecting Additional Documents
Acquire the second set of required documents and ensure their verification.
Step 4: Drafting MOA and AOA
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) for your company.
Step 5: Final Form Upload
Upload the completed documents and forms for the final stage of company incorporation.
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Characteristics of Private Limited Company
Members
According to the applicable Act, a private limited company must have a minimum of two members, with a maximum limit of 200 shareholders.
Number of directors
As per the Act, a private limited company is required to have a minimum of two directors, while the maximum number of directors allowed is 15.
Limited liability
In a private limited company, the liability of its members or shareholders is limited. This means that in the event of company losses, shareholders are not personally liable to sell their personal assets for repayment. They are only responsible for the amount of shares subscribed or the guaranteed amount agreed upon.
Perpetual succession
Perpetual succession ensures that a private limited company continues to exist legally, regardless of factors such as insolvency, bankruptcy, or the death of any of its members. The company's existence is perpetual.
Authorized and paid-up share capital
A private limited company must have an authorized share capital of at least ₹1 lakh. The amendment to the Companies Act removed the requirement for a minimum paid-up share capital.
Name
The name of a private limited company should include the words 'private limited' at the end. For example, if the company name is ABC, it should be written as 'ABC Pvt. Ltd' in official communications and registration forms.
Prospectus
A prospectus provides a detailed statement about the company's status and affairs. However, a private limited company cannot issue a prospectus since it is not permitted to invite the public to subscribe to its shares.
Index of members
A private limited company is not obligated to maintain an index of its members according to the Act. Conversely, a public company is required to maintain such an index.
Checklist for Private Limited Company Registration in India
As defined by the Companies Act, 2013 one must guarantee to meet the checklist requirements without fail for Private Limited Company Registration in India.
Two Directors:
A private limited company must have at least two directors, with a maximum of fifteen. A minimum of one of the company's directors must be a resident of India.
Unique Name
The name of your pvt ltd company must be unique. The suggested name should not match with any existing companies or trademarks in India.
Minimum Capital Contribution:
There is no minimum capital amount for a Pvt ltd company. A Pvt limited company should have an authorised capital of at least ₹1 lakh.
Registered Office:
The registered office of a pvt ltd company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NOC is obtained from the landlord.
