PVT LTD Company
Want to register your private limited company?
Not finding the appropriate service provider?
We Help You Register In Three Simple Steps:
SS Auditors & Tax Consultants offer you best services and the most popular ways by which you can easily set up your business in India. In addition to it, you will also get to learn about all the tax and regulatory advantages in relation to private limited company.
Firstly, we register the Directors of the company with the Ministry of Corporate Affairs (MCA)
Secondly, we help you in choosing the most appropriate company name
Lastly, we help you in drafting your company’s constitution. (Memorandum of association & articles of association)
A Private Limited Company (PLC) is considered as the most common and accepted corporate legal entity in India. The registration of a Private Limited Company is governed by the Companies Act, 2013 and Companies Incorporation Rules, 2014. No less than two shareholders and two directors are required to register a Private Limited Company. A natural person can be a director and shareholder both, while a company legal entity can only be a shareholder.
If we take the current scenario, Start-ups and small businesses are increasingly choosing Private Limited Companies for doing businesses as it becomes easy for them to raise the funds from outside and at the same time it also limits the liabilities of its shareholders. It enables owners to provide employees with the option to own shares while reserves the right to hire and retain the best talent. Foreign nationals, foreign corporate entities or even NRIs can be Directors as well as Shareholders of a Private Limited Company via Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.
A Private Limited Company has many unique features that make it an ideal business for countless small and medium sized businesses that are professionally managed or family owned. Some of the unique features of a Private Limited Company are as follows –
Limited liability protection to shareholders,
Separate legal entity status
Ability to raise funds
Perpetual existence.
Let us take a look at few immediate advantages of a Private Limited Company:
Greater freedom with limited liability
Increased capital contribution and greater stability
The prospects for future business scalability
Documents Required For Pvt Ltd Company Registration In India
Identity And Address Proof:
For the Indian nationals, it is necessary to submit identity proof and address proof of all the shareholders and directors. Permanent Account Number (PAN) card copy of all the directors is also a mandatory requirement for company registration.
If you are submitting bank statements or electricity bills as a proof of address, it should not be less than 2 months old at the time of submission.
For foreign nationals, Submission of apostilled or notarized (attested to/by a notary) copy of your passport is a mandatory requirement. In case the document is in foreign language, it should be translated into English and notarized or apostilled. The address proof submitted by the director should have his name mentioned in the passport with the current address. The document submitted by a foreign national as an identity or address proof should not be older than 1 year.
Registered Office Proof:
To validate the registered office address of the company, the following documents must be submitted during company registration process or within 30 days of incorporation of the company –
The registered document containing the name of the company and its address of the registered office.
Or
Notarized copy of lease/Rent agreement in the name of the company plus rent paid receipt copy not older than 1 month.
Following additional documents may be provided as a proof of registered office –
If it is rented, the NOC from the landlord is required.
Proof of utility bills such as Telephone, electricity, gas, water showing the address of the premises in the name of owner.
Identity Proof Of Directors And Shareholder
PAN for Indian Nationals Notarized Passport Copy for Foreign Nationals
Proof Of Registered Office In India Rental Agreement or Sale Deed / Copy of electricity Bill or Electricity Bill NOC letter from Landlord for Use of Address Proof Of Directors And Shareholders Passport, Drivers License, Aadhar card and Bank Statement Signed Incorporation Documents Signed Digital Signature Application Documents in Hard Copy Other Incorporation Documents Signed and Uploaded Advantages Of A Private Limited Company Separate Legal Entity
A Private Limited Company is a legal entity and a juristic individual established under the Companies Act. Thus, a company has a range of legal capacities, such as opening of a bank account, hiring of employees, taking on equity, obtaining licenses and much more. The members (Shareholders/Directors) of an enterprise have no personal liability towards the creditors of the enterprise for company's debts.
Uninterrupted Existence
A Private limited company has an advantage of perpetual succession. It means that it has an uninterrupted existence until it is legally dissolved. A company is a distinct legal entity and is unaffected by the departure or the death of any of its Directors or shareholders. It continues to exist regardless of any changes in the ownership.
Easy Transferability
The ownership of a business can easily be transferred to a company by transferring shares. The signing, transfer and filing of the share transfer form along with the share certificates are sufficient documents for transferring the ownership of a company. In a private limited company, the consent of other shareholders may be required for the transfer of shares.
Borrowing Capacity
Private limited company has the ability to raise funds in India. With the RBI permission, a company can issue equity shares, preference shares, debentures and accept deposits too. Banks and financial institutions are more willing to provide funds to a company rather than partnership firms or proprietary firms.
Owning Property
A private limited company is an artificial person who can acquire, own and also isolate property in its name. The property owned could be machinery, building, factory, residential property, land, intangible assets etc. No shareholder can claim the property of a company as long as the business is a going concern.
Minimum Requirements For Private Limited Company Registration
A unique name
A minimum of two shareholders
A minimum of two directors
Any amount of capital
Requisite documents
MOA & AOA
Concerns Related To A Private Limited Company
The statutory compliances are high.
The directors have to be involved in decision making.
Transfer of shares to others cannot be made without an agreement.
Things To Be Considered While Choosing A Name For Your Private Limited Company
Selecting the name of the business is an important aspect. It is the very first impression for the vendors, the stakeholders and the buyers. Therefore, it needs to be in relation of the nature of the business. It must be relevant and attractive. Here are some of the following aspects which we should keep in mind while naming the business -
The name of the company should be concise and short. People should be able to pronounce it easily and recollect the name as early as they read it or hear it.
It needs to be the face of the company.
The company name should be unique. It should not be identical or similar to an already existing business or a trademark.
It is best to avoid the name of a person (be the owner or a shareholder) to be used in the company’s name. This avoids the need to rename the company in the event of his or her exit.
The company name needs to be ended with the suffix "Private Ltd". The company name should not be contradictory to the law. It should not be abusive and against the practices, beliefs and values of any particular group of people.
How SS Auditors & Tax Consultants Help In Private Limited Company Registration?
SS Auditors & Tax Consultants is a leading Indian portal providing accounting, finance & taxation services to small businesses. We are having more than 10 years of experience in helping individuals providing Private Limited Company registration at a least possible price. We will guide you through the entire process of Pvt Ltd Company registration. To avail the best deals on Private Limited company registration, kindly call us at +91 9379657976 / 9916832841
or you can also e-mail us at services@ssauditor.com
What Is Included In Our Package?
Eligibility Consultation
Document Preparation
Application Drafting
Government Fees