Private Limited Company
Private Limited Company
- Application for DSC (Digital Signature Certificate).
- Apply for the DIN (Director Identification Number)
- Application for the name availability.
- Filing of the EMOA and EAOA to register Private Limited Company
- Apply for the PAN and TAN of the company
- GST Registration
- Application for Digital Signature Certificate.
- Apply for the DIN
- Application for the name availability.
- Filing of the EMOA and EAOA to register Private Limited Company
- Apply for the PAN and TAN of the company
- GST Registration
Private Limited Company Registration - An Overview
If you are looking for a closely held and well-organized form of existence for your business, then Private Limited is the most appropriate option available. Easily incorporated, a Private Limited is registered within a quick span of time, with minimum documentation and minimal number of promoters.
Documents Required
Director's Document
- PAN Card or Passport (Foreign Nationals & NRIs)
- Voter’s ID/ Passport/Driver’s License
- Latest Bank Statement / Telephone Bill / Electricity or Gas Bill
- Passport-sized photograph and specimen signature
Registered Office Document
- Latest Bank Statement / Telephone Bill / Electricity or Gas Bill
- Notarized lease agreement in English
- No-Objection Certificate from the property owner
- Sale Deed/ property deed in English (if owned property)
PROCESS
- Application for DSC (Digital Signature Certificate).
- Apply for the DIN (Director Identification Number)
- Application for the Name Availability.
- Filing of the EMOA and EAOA to register Private Limited Company
- Apply for the PAN and TAN of the company
- Issued certificate of incorporation by RoC with PAN and TAN
POST REGISTRATION
- Open Bank Account within 30 Days
- Deposit Share Capital money within 30 days
- File commencement certificate within 180 days
- Issue Share certificates – within 60 days
- Appoint Auditor within 30 days
- GST Registration for Company
Benefits of Private Limited Company Registration
As an entrepreneur interested in raising money from a venture capitalist, angel investors, hedge funds, or private equity funds you should opt for a private limited company. Such a company has the option of raising equity capital from anybody or any entity willing to become a shareholder.
When a private limited company is incorporated it is seen as an artificial judicial person. It is a separate judicial body. As a separate judicial body, a company has the power to buy its assets and even borrow its own funds. On the other hand, the shareholders of the company are liable for its debts only to the extent of shares they own.
In a private limited company, your liability as a shareholder is limited to the extent to the amount unpaid, if any, on the shares held. If the company commits a default, your personal assets cannot be liquidated.
A private limited company being taken as an artificial judicial person, it is protected from any effect due to the retirement, departure, or even death of any of its directors. Your private limited company will continue to exist until you wind it up through legal procedures.
Once you own a private limited company, you acquire a professional image before your vendors and customers, boosting your business valuation. It further gives you a unique identity, increases your trust quotient, opens up new opportunities, and builds a good market for you.
With BizOkay India, registration of a private limited company is quick, easy, and completely hassle-free. Within 10 days you can register your company and start a business.
Once you get a private limited company registration, you can save a significant amount of money on taxes. Dividends have lesser tax deductions as compared to salary, which is why shareholders hold a higher value.
A private limited company opens up better opportunities for growth and expansion. It can raise funds and pay high salaries to attract experts and professionals for the growth and expansion of the company.
Why BizOkay India?
Frequently Asked Questions
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.
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.
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.
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.
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.
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 or rupees and even lead to the blacklisting of directors.
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.
Bizokay India 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.
A minimum of two directors and shareholders are needed for the process of private company registration. Moreover, the same individuals can act as Directors as well as Shareholders of the company.
The minimum capital of Rs 1,00,000 is required for incorporating a private limited company in India.
DIN is the acronym for Director Identification Number. It is a unique number allotted by the MCA to every director. Further, a DIN is issued only once by the MCA (Ministry of Corporate Affairs) during the lifetime of the director. Therefore, no Director can ever be allocated two DINs. This also means a person can be a director in more than one companies with the same DIN.