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Online Registration of Private Limited (Private Limited) Company in India, ✔Certificate of Incorporation of Private Limited Company, ✔Benefits of Pvt Ltd Company Registration, ✔Types of Private Limited Company

Online Company Enlistment in India - An Outline

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A private limited company is a business entity that provides limited owner liability. It is suitable for a small number of shareholders and allows up to 200 members along with flexibility in shares and shareholding.

One of the most recommended ways to start a business in India is to set up a private limited company, which provides limited liability to its shareholders while imposing certain ownership restrictions. When it is an LLP, the partners will manage it. On the other hand, a private limited company registration allows directors and shareholders to form separate entities.

As your trusted legal advisor, Legalcy Pvt. Ltd. provides a cost-effective service to register your company in India. We handle all the legal processes and ensure compliance with the rules laid down by the Ministry of Corporate Affairs (MCA). Upon successful completion of the Private Limited Company Registration process, we provide you with a Certificate of Incorporation (COI), as well as PAN and TAN documents. With these in hand, you can easily set up a current bank account and begin your business operations.

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    Characteristics of Private Limited Company are:

    members

    As per the applicable Act, a private limited company must have a minimum of two members and a maximum of 200 shareholders.

    number of directors

    According to 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 the members or shareholders of the company is limited. This means that in the event of company losses, shareholders are not personally liable to sell their assets for repayment. They are only responsible for the quantity of shares subscribed or the agreed guaranteed amount.

    perpetual succession

    Perpetual succession ensures that a private limited company continues to exist legally regardless of factors such as insolvency, bankruptcy, or death of any of its members. The existence of the company is eternal.

    Authorized and paid-up share capital

    A confidential restricted organization should have an approved offer capital of no less than ₹1 lakh. Amendments to the Companies Act removed the requirement of minimum paid-up share capital.

    Name

    The name of a private limited company must include the words ‘Private Limited’ at the end. For example, if the company name is ABC, it should be written ‘ABC Pvt.’ Ltd.’ in official communications and registration forms.

    List

    A prospectus provides a detailed description of the company’s position and affairs. However, a private limited company cannot issue a prospectus as it is not allowed to invite the public to subscribe to its shares.

    index of members

    As per the Act, a private limited company is not bound to maintain an index of its members. In contrast, a public company is required to maintain such an index.

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    Frequently Asked Questions

    What are the compliances after a company is registered?

    Once a company is registered, it must undertake several responsibilities. These include filing taxes, submitting annual reports, maintaining precise accounting records, and complying with both employment and safety standards.

    What are the steps after the company registration is complete?
    1. Put into action your organization’s paperwork.
    2. Set up a business banking account.
    3. Establish a registered office and acquire a Corporate Identity Number (CIN).
    4. Hire an accountant and auditors.
    5. Develop a website and devise marketing strategies.
    6. Attain startup recognition.
    7. Register your trademark and apply for GST.
    What is the cost of registration of a Private Limited Company in India?

    The cost of private limited company registration in India can vary depending on various factors, such as the authorized capital of the company and the professional fees charged by the consultants or chartered accountants involved in the company registration process. It is prescribed to counsel an expert to get a precise gauge of the expenses in question.

    Can I register a company myself in India and Who is eligible for a Private Limited Company?

    Yes, you can register a company in India yourself by following the prescribed procedures and guidelines provided by the Ministry of Corporate Affairs (MCA). However, the company registration process can be complex and time-consuming, so it is recommended to seek professional help or consult a chartered accountant to ensure accurate and efficient registration. ‘Talk to CA’ today

    To understand the eligibility for Private Limited Company Registration, one should know that any individual or group of individuals including foreigners can be eligible to form a Private Limited Company in India. However, certain criteria are required to be met, such as having at least two directors and two shareholders. Shareholders can be individuals or corporate entities.

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    Additional reasons for the importance of certification

    Company Registration Certificate is also required for the following purposes:
    • Business Bank Account: This enables the company to open a dedicated business bank account for financial transactions.
    • Share distribution: The certificate allows the company to issue and distribute shares to investors or shareholders.
    • Business Loan: To secure a loan for a business, the certificate serves as an important document required by lenders.
    • Business Sale: In the case of selling the company to a third party, the certificate is necessary for a smooth and legal transfer of ownership.
    Certificate of Incorporation of a Private Limited Company

    Company Name: The registered name of the private limited company.

    Company Identification Number (CIN): A unique identification number assigned to the company by the RoC.

    Registered Office Address: The address of the registered office of the company.

    Registered Office Address: The address of the registered office of the company.

    Authorized Capital: The maximum amount of share capital that the company is authorized to issue.

    Directors’ Details: Names and addresses of the directors appointed at the time of incorporation.

    Documents Required for Online Company Registration

    MCA in India requires proper identity and address proof for private limited company registration. The following documents are required to register a company in India:

    Proof of identity and address

    Scanned copy of PAN Card or Passport (Foreign Nationals and NRIs)

    Scanned copy of Voter ID Card/Passport/Driving License

    Scanned copy of latest bank statement/phone or electricity/mobile bill or gas bill

    Scanned passport size photograph Specimen Signature (blank document with signature [Directors only)

    Registered Office Certificate

    Scanned copy of latest bank statement/phone or electricity/mobile bill or gas bill

    Scanned copy of the notarized rental agreement in English

    A scanned copy of the No Objection Certificate from the property owner

    Scanned copy of sale deed/property deed in English (in the event of self-named property)

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