Private Limited Company Registration

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  • Procedure for forming a company in India

  • Procedure for forming a private limited company in India

  • Procedure for incorporating a company in India

  • How to incorporate a company in India

  • How to start a company in India

  • Company Registration in India

  • Online Company Registration in India

  • How do I start a business in India

Overview

A private limited company is the most successful business type in India. The business owners hold all shares of the company privately. Shareholders may operate the business themselves or engage directors to manage the company on their behalf. Forming a private limited company results in protection of personal assets, access to more resources, financial assistance and greater tax cuts. Private limited company registration usually takes 15-20 days.

A private limited company is a blend of corporate form of business structure and partnership. The most attractive feature of a private limited company is the limited liability of its members. It has the flexibility of a partnership firm and the advantages of a company such as greater stability, better creditworthiness and separate legal entity. Private limited companies are an ideal way of starting and structuring startups with a higher scope of expansion as compared to partnerships as it is easy to raise capital from financial institutions due to its higher stability and reliability.

Advantages of a Private Limited Company

Legal Entity – A company is a legal entity and a juristic person. It has wide legal capacity and can own propertyLimited Liability – The directors or shareholders of the company have no personal liabilitiesEasy Funding – Banks and VC’s prefer to render large financial assistance to a companyBusiness Continuity – Private limited companies enjoy perpetual succession because the company is a separate legal entity
Tax Advantages – A company opens the door to more tax-deductible costs and allowances redeemable against profitsEasy Transferability – Shares of a company are easily and freely transferableDual Relationship – A person can at the same time be a shareholder, director, creditor and employee of the companyCapacity to sue and be sued – A company in India being an independent legal entity can sue and also be sued in its own name

Private Limited Company Registration Process

It usually takes 15-20 days to register a private limited company through SPICe INC-32 (a single application for reservation of name, incorporation of company and allotment of Director Identification Number), subject to ROC processing time. Pioneer One makes private limited company registration easy for you.

Documents required for Private Limited Company Registration

For Directors / Shareholders

  • Copy of PAN

  • Copy of Address proof – Aadhaar Card / Driving License / Passport / Voter ID

  • One Photograph

  • Copy of Bank Statement / Electricity Bill / Mobile Bill / Landline Telephone Bill

For Company Address

  • Proof of Registered Address – Sale Deed / Rental Agreement

  • Copy of Utility bill – (EB, Telephone Bill, Property Tax Receipt, Water Tax Bill) for proposed company address not older than 2 months

  • NOC from owner / occupier of the property to use the premises as registered office

Choosing a Name for your Private Limited Company

Certain important points should be kept in mind when choosing a name for private limited company registration:

  • Make sure that the company name is unique and does not resemble the name of any other existing Company or LLP

  • It is easier to obtain a name if it depicts the objects of your company

  • The name should not include any word which is a registered trademark or has been applied for trademark registration

Incorporation of Private Company: Overview

  • Check availability of name / registered trademark for incorporation of company
    Reserve name of the proposed company through online service RUN on MCA website. Name can also be applied through SPICe.

  • Obtain Digital Signature Certificate(DSC) for at-least one proposed Directors of the Company. DIN for proposed Directors can only be applied for through form SPICe.

  • Form INC 32 (SPICe) to be duly filled and submitted to RoC for incorporation of company. PAN and TAN are shall be auto generated based on details filed in the SPICe form

  • Filing of electronic Memorandum of Association (eMoA -INC 33) & Articles of Association (eAoA-INC 34) in SPICe. For foreign subscribers physical MoA and AoA to be executed and attached.

  • SPICe & AGILE upload and fee payment is confirmed by MCA. The application (SPICe) for incorporation of a company shall be accompanied by a linked e-form INC-35 (AGILE)

  • Central Registration Centre (CRC) verifies / scrutinizes all the documents and forms and may suggest few changes to be made in the attachments or form itself. One needs to make necessary changes accordingly.

  • Obtain certificate of incorporation, PAN & TAN numbers are allotted at the time of registration

  • A company having share capital is required to file a declaration of receipt of subscription amount and verification of registered office within 180 days of incorporation and prior to commencement of business

Inclusions

  • Class 2 Digital Signatures – Two Nos

  • Director Identification Number – Two Nos

  • Reserve Unique Name (RUN) Approval – One Nos

  • Authorized Capital – Up to Rs 15 lakhs

  • Incorporation Fee

  • Stamp Duty

  • Drafting of Memorandum of Association (MOA) & Articles of Association (AOA)

  • Drafting of other relevant documents for the purpose of incorporation

  • Issue of Certificate of Incorporation

  • Income Tax – PAN & TAN

  • Share Certificates

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