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Private Limited Company Registration

    Private Limited Company Registration

    A Private Limited Company offers limited liability and legal protection to its shareholders. A Private Limited Company in India lies somewhere between a partnership firm and a widely owned public company. It can be registered with a minimum of two people. A person can be both a director and shareholder in a Private Limited Company.

    The liability of the members of a Private Limited Company (PLC) is limited to the number of shares held by them. A Private Limited Company in India can begin with, operations after getting the Certificate of Incorporation. A PLC can be incorporated within 7 working days.

    Advantages of Private Limited Company

    No Minimum Capital
    No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered with a mere sum of Rs. 10,000 as total Authorized Share capital.

    Separate Legal Entity
    A Private Limited Company is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not the same as the assets and liabilities of the Directors. Both are counted as different. A Private Limited Company separates Management and Ownership and thus, managers are responsible for the company’s success and are also answerable for the company’s loss.

    Limited Liability
    If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the liability of the person is limited.
    For e.g. If a Private Limited Company takes any loan and is unable to pay off, the members are responsible to pay only that much how much they own towards their own shareholding i.e. The unpaid share value. Which means, if you have no balance payable towards the amount of shares you hold, you are not payable towards any debt payable by the company even if the debt/credit amount remains unpaid.

    Fund Raising
    A Private Limited Company in India is the only form of business except Public Limited Companies that can raise funds from the Venture Capitalists or Angel investors.

    Free & Easy transfer of shares
    Shares of a company limited by shares are transferable by a shareholder at any other person. The transfer is easy as compared to the transfer of an interest in a business run as a proprietary concern or a partnership. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.

    Uninterrupted existence
    A Private Limited Company has ‘Perpetual Succession’, that is, continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member, but continues to be in existence irrespective of the changes in membership. ‘Perpetual Succession’ is one of the most important characteristics of a company.

    FDI Allowed
    In Private Limited Company, 100% Foreign Direct Investment is allowed that means any foreign entity or foreign person can directly invest in a Private Limited Company.

    Builds Credibility
    The particulars of the company are available on a public database. Which improves the credibility of the company as it makes it easy to authenticate the details?


    Disadvantages of a Private Limited Company
    • One of the main disadvantages of a Private Limited Company is that it restricts the transfer ability of shares by its articles.
    • In a Private Limited Company the number of shareholders in any case cannot exceed 200.
    • Another disadvantage of Private Limited Company is that it cannot issue prospectus to public.
    • In stock exchange shares cannot be quoted.

    Private Limited Company Registration Process

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      Documents Required for Private Limited Company Registration in India

      Aadhar Card

      Aadhar Card of Director

      Photo

      Passport Size Photo

      Address Proof Of Directors

      Utility Bill [Electricity / Water / Gas] Or
      Bank Statement

      ID Proof of Directors

      Aadhar Card or
      Voter ID Card or
      Driving License or
      Passport

      Address Proof of Registered Office

      Utility Bill [Electricity / Water / Gas] and
      NOC from Property Owner

      What do you get

      DSC

      Digital signature for two directors to digitally sign the documents

      Memorandum of Association

      It outlines the company laws under which a company will work and function.

      Articles of Association

      Defines the rights and duties of the business

      Company PAN

      The PAN number of the organization to open a bank account

      Incorporation Certificate

      Certificate of incorporation bearing company's registration number and details

      Company TAN

      TAN number of the company

      FAQs for Private Limited Company Registration

      Yes, you can redesign your current business into a corporate character. Be that as it may, your business can be changed over into the private, restricted organization which is an intricate method. You can contact our leader for additional information on this strategy.

      Joining is another word for Private Company enrollment in India. The word fuse is commonly utilized regarding organization enrollment in India.

      Recorder of Companies (ROC) is the administration post who takes care about the organization’s record inside its purview. The ROC and territorial workplaces are shaped under the Companies Act, 2013 and rules made thereunder.

      Yes, an NRI or an unfamiliar public can turn into the chief in the private, restricted organization, subject to the condition that out of the apparent multitude of chiefs’ at least one chief should be inhabitant in India for over 169 days. Aside from one condition above, there is no other condition appended to it.