Private Limited Company (Pvt Ltd) Registration
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Private Company
Almost 95 percent of the companies registered in Bangalore are registered as Private Limited Companies.
There are multiple benefits from a private company, resulting in higher registration of private companies.
The main benefits of a private limited company are:-
- 1. Separate legal business,
- 2. It provides immunity to the owner’s personal property or assets in case of business loss or closure of the company due to unforeseen events.
- 3. And also it can raise equity funds
Team IN Filings has been a top Company Secretary and expert in Private Company Registration in Bangalore for the last 15 years.
Register Your Pvt Ltd Company
As we highlighted, One of the most preferred start-up companies is a Private Limited Company; it offers its shareholders limited liability and legal protection. A Private Limited Company in India lies between a partnership firm and a widely owned public company. It can be registered with a minimum of two people. A person can be a director and shareholder in a Private Limited Company.
Private Limited Company incorporation & registration is easy, cheap, and quick at TeamIN Filings also provides Partnership Registration, HUF, LLP Incorporation, Person Company registration, and Secretarial Compliance Services. You may contact our compliance manager by phone or email at support@teamindia.co.in for a free consultation.
PVT LTD Features
1. No Minimum Capital
No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered with a mere sum of Rs. 1000 as total Authorized Share capital.
2. Separate Legal Entity
A Pvt Ltd Co. is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not same as the assets and liabilities of the directors. Both are counted as different.
3. Limited Liability
If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the Liability of the person is limited.
4. Fund Raising
A Private Limited Company in India is the only form of business except Public Limited Companies that can raise funds from the Venture Capitalists or Angel investors.
5. FDI Allowed
In private Limited Company, 100% Foreign Direct Investment is allowed that means any foreign entity or foreign person can directly invest in a Private Limited Company.
6. Builds Credibility
The particulars of the company are available on a public database. Which improves the credibility of the company as it makes it easy to authenticate the details
Process of Registration
1. Documentation – A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
2. OPC Name Approval – Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently will apply for the approval of name for your One Person Company. You may suggest up to two names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your One Person Company in Part A of SPICe Plus form.
3. OPC Registration – We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
Document Required
- Photograph of all the Directors and shareholders
- PAN Card of all the Directors and shareholders
- ID Proof of all the Directors (Driving License/Passport/Voter ID)
- Electricity Bill or any other utility bill for the address proof of the Registered Office
- No Objection Letter (NOC) from the landlord to use the office as a registered office.
Frequently Asked Questions
A Private Limited Company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate an OPC as well.
Pvt. Ltd. Co. and LLP have a lot of similarities yet they both are different in many of its characteristics and structures. When you wish to start your business, there are many factors that one needs to think upon before selecting any business structures. However, before selecting any business structure, you may refer LLP vs Pvt Ltd- A comparison between two important forms of organisation in India
It generally takes 8-10 working days to register Private Limited Company in India. The time taken for registration totally depends on the submission of relevant documents by the client and the speed of Government Approvals. To ensure quick and speedy registration, choose a unique name for your Company. The registration fees for the incorporation is inclusive in the package offered to you.
There exists no bar on turnover or capital in private Limited Company unlike One person Company.
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe plus), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
Minimum two directors are required to incorporate a private limited company. Companies Act, 2013, has introduced the concept of One Person Company (OPC) private limited, in which a single individual can start a private limited company. Thus, if you plan to incorporate OPC, you can incorporate it with only one director.
The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of the proposed Company. Digital Signature application is to be filed to get a DSC.
Yes, a Foreign National or an NRI can become a Director of a Private Limited Company in India after obtaining Director Identification Number (DIN). However, it may be noted that at least one Director on the Board of Directors must be a Resident India.
TeamIndia.co.in provides Private Limited Company incorporation services online across India.
Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at support@teamindia.co.in or call us
