Private Company Registration
The private Company is a simple and popular choice for starting a new business in India.
Private Company controlled by the Companies Act, 2013, where the rules and regulations of the Company and the Directors must comply.
To start a new private limited company, two people must be 21 year and above and hold basic documents like Pan, Aadhar, and bank accounts.
A Private Company plays an important role as a vehicle to carry the ideas of the promoters in the form of a Company.
Before starting any business, you must be clear about the following:
Make the name choice which shall be unique, and catchy, and it should not violate the name guidelines as per MCA.
Then, collect the required basic documents from proposed company promoters.
You can approach Team IN Filings, Bangalore, to start the Company Registration.
Plus point of Private companies
01/ Risk is limited to their investment
promoter’s risk is limited to their investment in their shares only
- Can be registered with 2 people
- Can be registered within 3 days
- You can Play the role as a Director
02/ Easy Ownership Transfer
A private Company allows easy transfer the shares from one to another
- You can allot your shares to others easily
- Borrow fund from shareholders
- Expand your business seamlessly
03/ Easy to Raise Loan from Financials
Under private Company, you can raise a loan in the name of the Company
- Easy to operate the Business
- Easy to start the Company
- Play the dual role as Director and Promoter
Registration of Private Company always wins
When it comes to goodwill in the general public, other stake holders, registered companies obviously wins out.
If you’re ready to make a planned business with careful investment, check out our Company Registration Team today.
Steps to register your Private companies
Below are the steps to be taken to start a new private company with the help of Team IN Filings
· Selection of suitable name as per name guidelines by Mca
· Apply the name reservation with Mca
· Finalization of terms and conditions in the form of MoA and AoA
· Filing the e-forms with Roc central office for Registration.
The main types of companies are:
· Private Limited Company
· One Person Company (OPC)
· Limited Liability Firm (LLP)
· Nidhi Company Limited
· Chit fund company
· Finance Company
A company name check is the First step.
If you plan to start a new company in India, you must check the name available with MCA.gov.in and Trade Mark authority. If the name is available, submit your finalized name along with the objective to team@teamIndia.co.in for free, our Team IN filings can go ahead for name reservation application to the Ministry of Corporate Affairs (MCA). We have to make the name reservation application before registering the Company.
The procedure of Company Registration in India
After the name gets approved from Team IN filings, you can provide the documents below for further Registration of the Company.
· All the promoters, directors Pan, Aadhar, recent month Bank statement
· Email, mobile, photo of the director
· Rent agreement in the company name, Electric bill
· Noc from the building owner
Once you submit the above documents, our Team will process the Digital signature and then prepare the MoA and AoA and other documents for review with you.
Preparation of Memorandum of Association
After the name gets approved, Team IN filings helps you prepare the company documents. The Main documents in the Company are the Memorandum of association and Articles of association of the Company.
MoA – Memorandum of association
MoA talks about the Company’s business activities and other functions. The objectives of the Company have to be classified into main and associated objectives.
The Main objective is all about the Company’s main purpose, like retail, wholesale, etc.
The associated objective is related to the main business objective, for example, marketing, advertisement etc.
Clauses of Memorandum of association(MOA)
The MoA clauses must be arranged in the right structure keeping in mind the Company’s core business. Also, there won’t be prohibited business to be taken under this.
Fee for Registration of the Company in India
Most company’s Registration in Bangalore is completed with Team IN Filings.
The cost and time involved have been given on approx. Basis only.
For Private Limited company: fee is Rs.5000 plus Govt. fee, Time: 3 working days.
For One Person Company: fee is Rs.4000 plus Govt. fee, Time: 3 working days.
For Firm, LLP Company: fee is Rs.5000 plus Govt. fee, Time: 10 working days.
For Nidhi, chit fund Company: fee is Rs.15000 plus Govt. fee, Time: 10 working days.
For Proprietorship, Gst: fee is Rs.5000 plus Govt. fee, Time: 10 working days.
Company Registration Certificate, full set of certificates.
During the process of the company registration, you will get a complete set of Registration like;
· Registration Certificate
· Company Pan
· Company Tan
· Company PF
· Company ESI
· Company Gst
· Company Bank A/c
· Directors/ Promoters DSC
Benefits of Company Registration in India
A company is a vehicle; you carry your business without any limit.
The main benefits of Company registration are:
· It gives you legal status like Pvt. Ltd, LLP etc., to your business
· It has a perpetual succession of your business
· The promoters risk is limited to his investment amount only
· The company can sue and be sued
· Company promoters play a dual role, one as director and another as promoter
· The company has the power to borrow money in its name
· Capital raising is also easy
Team IN Filings is a Tax & Law house in Bengaluru specializing in company matters, income Tax Gst, Trademarks Startup India, etc.
Our expert company secretary, tax consultant, CA, and Trademark agent provide Taxation, Registration for Companies Accounts Audit, Legal compliance, etc.