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Private Limited Company

Setting a Private Limited Company is one of the highly recommended ways to start a business in India

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Setting a Private Limited Company is one of the highly recommended ways to start a business in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. An LLP has partners, who own and manage the business. Whereas in private limited company registration, directors may be different from shareholders.

We take care of all legal formalities and fulfill the compliances, as defined by the Ministry of Corporate Affairs. Post-approval of the company registration process, you receive a Certificate of Incorporation (CoI), along with PAN and TAN. Now, you can open a current bank account and begin your business operations.

Private Limited Company, the most famous legitimate structure for organizations, ought to be picked by anybody hoping to assemble an adaptable business. Private limited company can have a minimum of two members and a maximum of fifty members. As these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend also to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership. In a case of default, banks / creditors can only sell company’s assets but not personal assets of directors.

  • It is flexible and has limited liability.
  • Greater capital contribution and greater stability
  • Possibility to grow big and expand

Checklist for Registering a Company in India

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Two Directors

A private limited company must have at least two directors and at most, there can be 15 directors. Among all the directors in the business, at least one must be a resident of India.

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Unique Name

The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.

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Registered Office

The registered office of a 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.

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An Asset

The trademark can be a valuable asset in case your brand creates a name and succeeds. It can be commercially contracted, sold and franchised.

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drop us a mail at support@filingduniya.com & or call us at +91-44-42691489 | +91-9940043113

How to Register Company Online - A detailed registration process

 

Company Registration in India will boost the progress of startups and provide an additional edge over those who have not registered. The Ministry of Corporate Affairs governs the company registration process with rules and regulations framed following the law.

 

  • Step 1: Application for DSC (Digital Signature Certificate).
  • Step 2: Apply for the DIN (Director Identification Number)
  • Step 3: Application for the name availability.
  • Step 4: Filing of the EMoa and eAoA to register a private limited company
  • Step 5: Apply for the PAN and TAN of the company
  • Step 6: Issued certificate of incorporation by RoC with PAN and TAN
  • Step 7: Opening a current bank account on the company name

Search a company before Company Registration

 

One of the primary steps in Company Registration is to ensure that the company name has not already been taken by another legal entity. We can run a company name search to check the availability of the particular name in India against the MCA and trademark database.
 
We recommend the businesses to come up with three to four alternative names during the approval stage of Private Limited Company Registration. The Ministry of Corporate Affairs will be the final authority to approve the name based on the availability rules and regulations.
 
If you are disappointed that a preferred name is taken, do remember that the name of your company doesn't have to be your brand name. However, if you're going to trademark your brand name, also check if it has already been trademarked or not.

Documents required for Online Company Registration

In India, Private Limited company registration cannot be done without proper identity and address proof. These documents will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.  

Identity And Address Proof

  1. Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
  2. Scanned copy of Voter’s ID/Passport/Driver’s License
  3. Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
  4. Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
For the foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.  

Registered Office Proof

For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of an 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 office as a registered office of the company should be submitted.

  1. Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
  2. Scanned copy of Notarized rental agreement in English
  3. Scanned copy of No-objection certificate from the property owner
  4. Scanned copy of sale deed/property deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence too.

Process

01

Trademark Search

We conduct a thorough search of the TM directory

01

Trademark Search

We conduct a thorough search of the TM directory

01

Trademark Search

We conduct a thorough search of the TM directory

Proprietorship vs Partnership vs LLP vs Company

Features
Proprietorship
Partnership
LLP
Company
Definition

Unregistered type of business entity managed by one single person

A formal agreement between two or more parties to manage and operate a business

A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company.

Registered type of entity with limited liability to the owners and shareholders

Ownership

◾️ Sole Ownership

◾️Min 2 Partners
◾️Max 50 Partners

◾️Designated Partners

◾️Min 2 Directors
◾️Min 2 Shareholders
◾️Max 15 Directors
◾️Max 200 Shareholders

For One Person Company
◾️1 Director
◾️1 Nominee Director

Ownership
Registration Time
Promoter Liability
Unlimited Liability
Limited Liability
Documentation

◾️MSME
◾️GST Registration

◾Partnership Deed

◾LLP Deed
◾️Incorporation Certificate

◾MOA
◾️AOA
◾Incorporation Certificate

Transferability
Non Transferable
Transferable if registered under ROF
Transferable
Governance
Under Partnership Act
LLP Act, 2008
Under Companies Act, 2013
Compliance Requirements

◾️Income tax filing if turnover is more than Rs.2.5 lakhs

◾️ITR 5

◾️ Form 11
◾️ Form 8
◾️ ITR 5

◾️ ITR 6
◾️ MCA filing
◾️ Auditor’s Appointment

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Private Limited Company

Bestseller

Basic

Private Limited Company

₹ 7899

Private limited company registration with DIN, incorporation fee, PAN, TAN, share certificates. Inclusive of government fee and GST.

Bestseller

True

Private Limited Company

₹ 9899

Private limited company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, and 10 lakh authorised capital. Inclusive of government fee and GST.

Enterprise

Super

Private Limited Company

₹ 14899

Private limited company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, and 10 lakh authorised capital, Trademark registration. Inclusive of government fee and GST.

On receipt of the documents we at Filing Duniya can get the trademark registration process commence in less than a day’s time. As our availability has never been an issue you can feel free to contact us over text messages, emails or call in case of any queries.

Frequently Asked Questions

Do I need to be physically present during this process?

No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.

How much time is needed for setting up a private limited company in India?

If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.

What are the rules for picking a name for a private limited company?

The Registrar of Companies (RoC) across India expect applicant to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.

What documents are required to complete the process?

All directors must provide identity and address proof, as well as a copy of the PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.

What is a DSC?

The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. As all documents needed are electronic, partners need a DSC.

Does a private limited company have continuous existence?

Yes, so long as the annual compliances are met, the private limited company will continue to exist. If you do not comply with the requirements, it will go dormant, until it is struck off the register altogether.

How much does it cost to run a private limited company?

The can be divided into four categories: cost of setting a private limited company, cost of accounting and auditing, cost of compliance and miscellaneous expenses. At the very minimum, you can expect to spend Rs. 40,000 on all of these.

Is it necessary to have a company’s books audited?

Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs of rupees and even lead to the blacklisting of directors.

What are articles of association and memorandum of association?

These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.

Are two directors necessary for a Private Limited Company Registration?

Yes, a minimum of two directors are needed for a private limited company. The maximum members can be 200. You can register as a One Person Company,, if you are the sole owner of the company.

Who can be the in a Private Limited Company?

Any individual/organization can become a member of a private limited company including NRI/foreigners. Nonetheless, the individual must be 18+ above in terms of age and should hold a valid PAN card.

What is the minimum capital needed to form a Private Limited Company?

There is no minimum minimum required for starting a private limited company.

Can the director of a private limited company also be a salaried person?

Yes, a salaried person can become the director in private limited, LLP or OPC private limited company. One needs to check the employment agreement if that allows for such provisions. In a lot of cases, the employers are quite comfortable with the fact that their employee is a director in another company.

Can the limited liability partnership (LLP) be converted to a Private Limited Company?

No, one cannot convert an LLP into a Private Limited Company as it is not a MCA. The LLP Act, 2008 and the Companies Act, 2013, both don’t have any provisions on conversion of the LLP in a private limited company. However, if one wants to expand their business they can register a new Private Limited Company with the same name. The LLP Company needs to just issue a no objection certificate.

What is the time taken by Filing Duniya in forming a Private Limited company?

Filing Duniya can integrate a Private Limited Company in 15-25 days. The time taken also depends on the relevant documents provided by the applicant and the speed of approvals from the government. To ensure a speedy registration, kindly pick a unique name as the proposed Company name and also ensure that you have all the required documents prior to the starting of the registration process.

Does one have to be present in person for the incorporation of a Private limited Company?

The entire procedure is done online and one does not have to be present at our office or any other place for the incorporation. A scanned copy of the documents have to be sent via mail. They get the company incorporation certificate from the MCA via courier at the business address.

A Private Limited Company called a separate legal entity. Why?

A company is a legal entity and like a different person established under the Act. It is treated as a different person which can own a property and have debts or creditors. The members (Directors/Shareholders) of a company have no liability to creditors of a company in a case company is unable to pay the debts.

Can one register a Private limited company on their home address?

Yes, one can register the company at their residential address. One requires to submit the utility bill copy of the same.

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