The private limited company registration is done online within 14 working days. At Clickntax, we are available to make you understand the registration process of private limited company. We are providing you an overview of all information related to it. However, if you still have queries related to it, you may contact us at firstname.lastname@example.org and our representative will get back to you as soon as possible.
Class-2 Digital Signature Certificate (DSC) of a single director is required to sign electronic documents. In order to get it, you require self-attested copy of the director's PAN card and address proof. It is a 2 days procedure.
You have to make sure the uniqueness of your company name. It can be verified by running a company name search. If your preferred name is already taken, you can also register a company name different from your brand name.However, if you're going to register the brand name, you need to verify whether it has been trademarked already. It can be verified at http://www.ipindia.gov.in/. If it has been trademarked, you will require a no-objection certificate from its owner to make it as your company's name. You also need to fulfil MCA guidelines by ensuring that the name has a unique and descriptive component.
Once you get name for your company, the Memorandum and Articles of Association need to be approved. The following documents will be required for it:
After getting these documents in order, you can submit the company registration form INC-32 (also known as Spice).
Once your company is incorporated, you should apply for a PAN and TAN with NSDL. It will cost around Rs. 200 and will take a time period of three weeks.
A private limited company must have at least two directors. There can be 15 directors at maximum. Out of all directors, at least one must be a resident of India.
MINIMUM CAPITAL CONTRIBUTION:
There is no minimum capital requirement for a company. A company should have an authorised capital of at least Rs. 1 lakh.
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office as long as NoC is obtained from the landlord.
Identity and the address proof will be needed for all the directors and the shareholders. In case of an Indian national, PAN card is mandatory. For the foreign nationals, apostilled or notarised copy of the passport need to be submitted. The residence proof documents like the bank statement or the electricity bill must not be more than 2 months old.
All companies should have a registered office in India. To prove admittance to the registered office, a recent copy of electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/ his consent to use the space as a registered office of the company should be submitted.
On growing businesses need to lend money frequently. Partners have the personal liability for all this debt in a general partnership. So, in case of non-payment of debt by the business, the partners made to pay this debt by selling their personal assets. In a private limited company, personal assets of the partners are safe and only the amount invested in starting the business will be lost under any circumstances.
Private limited companies can easily gain equity funding because it has a very clear distinction between shareholders, directors and limited liability. Moreover, venture capitalists and private equity funds are most unlikely to invest in any other kind of structure. Because, LLPs will definitely involve them as partners in the business whereas an OPC can have just one shareholder.
For a private limited company, bank loans are quite easy to obtain. They also have the option of issuing debentures and convertible debentures with them.