What is Private limited company?
Private Limited Company registration is one of the most Common option for doing any Business in India. A private limited company can have a minimum of two members and Directors and a maximum of fifty members. If an Entrepreneur wants to start any Business in India then Registering a Company on Ministry of Corporate Affairs Should be his First Priority.
A private limited company is one of the best way to do any business in India as it secures the Personal assets of Directors as compared to any other Form of Business. It is most recommended form for start-up in India to raise funding, ESOPs etc.
Who can start a Private Company in India?
This is one of the most common question that is being asked by every person who is willing to start any company in India. Though there is no restriction on anybody to form a company in India, but still there are some Confusion in the minds of entrepreneurs which are as Follows:
1. Students: Students over and above the age of 18 can form any type of company in India.
2. Employees: Employees are generally not allowed by their employers to form a company and be a director. They may hold shares but cannot take position as director. If they wants to open any company, then they need to check their employment agreement and may also seek permission from the respective employer.
3. Person with criminal Background: Though they are not barred to form a company, however, they need to give various declarations to the ROC.
Advantages of Private Company
1. No Minimum Capital Requirement.
2. Secure Personal Assets of Director.
3. Best Way to Start any Business in India.
4. Raise funding whenever needed.
5. Greater capital contribution and greater stability.
6. Possibility to grow big and expand.
7. Easy to register, manage & run.
8. Easy to dissolve or wind-up.
Rietway Consultants Private Limited Package
The Services which are included in our package are as Follows:
✅ Digital Signatures
✅ DIN of Directors
✅Filing of Spice form
✅Issue of Incorporation Certificate along with PAN and TAN
✅Memorandum of Association
✅Articles of Association
✅Provisional PF ESI Registration
✅GST Registration
✅MSME Registration
Private Limited Company Incorporation Procedure
Step -1 Arrange all Required Documents: The first step is to arrange all the documents and send the same over the email / WhatsApp to us. Once all the Documents are Received, we will Start the Further Process.
Step -2 DSC and Name Availability: The Next Step is to Start the Further Process of Digital Signature and Checking the Name availability.
Step-3: Preparation of Documents: The Next Step is Preparation of Documents to be Submitted at Department.
Step-4: Filing of Spice Form: The Next Step is Submission of Spice 32 Form at Department.
Documents Required for Private Company Incorporation
1. Pan Card of all Directors and Subscribers
2. Identity Proof i.e. Voter Id Card/ Driving License/ Aadhar Card/ Passport of all Directors and Subscribers
3. Address Proof i.e. Bank Statement, Mobile bill, Telephone bill of all Directors and Subscribers
4. Passport Size Photographs of all Directors and Subscribers
5. Current Electric Bill/ Utility Bill as Registered Office Proof
6. Rent Agreement if Applicable
Private limited company is considered as one of the most popular legal form of Business in India. Pvt Ltd. is incorporated under the Companies Act 2013 and it is governed by the Ministry of Corporate Affairs (MCA) which can be formed with two members and liability is limited up to the amount of Capital invested in Business.
Yes, you can upgrade your existing business into a corporate identity as per Provisions of Companies act, 2013.
Yes, you can register a company in India however; you cannot be the director in the company. You can only be the shareholder in the company. Further, you can be appointed as director only if your employment contract allows you to.
Yes, as Per Provisions of Companies Act, 2013, It is possible to register company in India without even visiting to India. In this case, all the documents of the NRI or the foreign national is notarized at notary public or at Indian embassy as per the respective requirement
Practically, there is no term like Start-up Company. Private Limited Company is popularly known as Start-up Company in India because it is the only form of business which can raise funding from the investors and can also be registered under start-up India scheme initiated by PM Narendra Modi (NAMO).
The Procedure to register a start-up company is similar to the Private Limited Company registration where the minimum of two people can start a company with no minimum capital amount.
As Per the Provisions of Companies Act 2013, Now the requirement of minimum capital amount to form a private limited company in India has vanished.. Now any person can form a company with any amount as per his choice
Shareholders are the person who holds the shares of the company and are considered as the ultimate owner of the company. The more the number of shares you hold, the more you have control over the business.
Directors, on the other hand, are the employees of the company who runs the company on behalf of the shareholders. Directors and Shareholders can be common person too.
No, Whole Process is online a person needn’t go anywhere to register it.
Authorized capital is the maximum value of the shares that a company is legally authorized to issue to the shareholders. Whereas, paid-up capital is the amount that is actually paid by the shareholders to the company. At any point, the paid-up capital of a company can never be more than its authorized capital.
Business Registration
