Online Private Limited Company Registration in Visakhapatnam

Online Private Limited Company Registration in Visakhapatnam

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company registration in Visakhapatnam
company registration in Visakhapatnam

Online Private Limited Company Registration in Visakhapatnam

If you want to raise fund for your venture, want to get liability protection, safety maintenance and also the easy acquire of loan from banks for the business expansion, then you should register your company as Private Limited Company. Private Limited Company Registration in Visakhapatnam is the best form of company for a startup, especially one which is growth-oriented due to following reasons:-

  • The companies which are registered find it easy to raise funds, as they appear to be authentic and not fraudulent.
  • Employee stock ownership plan (ESOP) in Private Company enables employees hold a stake in the startup.
  • Moreover, a minimum share capital requirement of Rs. 1 Lakh for incorporation has been removed.

How to register Company Registration in Visakhapatanam?

Visakhapatnam is known as the historical domain of King Shivaji. The city has the famous monuments of the king and a large park named after his name. The city with a population of 5.3 million, owns one of the largest ports in India.

Here in this article we shall discuss about the formation of a private limited company in Visakhapatnam along with relevant following points:-

Key Points:-

  1. Minimum 2 and maximum 200 members are required in Private Limited Company.
  2. There is no requirement for minimum capital.
  3. It shall have minimum two directors.
  4. Transfer of share can be restricted as per articles of the company.
  5. It can take loan from shareholders, directors and relatives of directors but not from the public. Here. Shares cannot be issued to public.
  6. Reduced compliance burden as per company law.
Public Limited Company
1 Min. no. of members 02
2 Max. no. of members 200
3 Min. no. of directors 02
  1. The words ‘Private Limited’ should be suffix or must come after the name of company. Many of the restrictive provisions of Companies Act are not applicable to Private Limited Company allowing flexibility and convenience unlike Public Limited Company.

Advantages:-

  1. It can be started with minimum paid-up capital of Rs. 0.
  2. The minimum two directors is required to incorporate
  3. Transfer of share can be restricted as per Articles of the company.
  4. It can take loan from shareholders, directors and relatives of directors but not from the public.
  5. The company has a separate legal entity
  6. Private limited companies enjoy tax advantages. These companies pay corporation tax on their taxable profits and tend to be exempt from higher personal income tax rates.

NOW YOU CAN INCORPORATE YOUR COMPANY WITH ZERO FEE

On the eve of 69th Republic Day in the country, the Ministry of Corporate Affairs has taken a big step towards making the incorporation of a Company and LLP easier and simple. This new initiative will help the Company for its Registration and for the process for incorporation of the company in India.

For doing Ease of Business, MCA has introduced various revolutionary changes in setting of a Private Limited Company. Most importantly, a Company can now be registered at zero cost up to an Authorized cost of INR 10 lakh. Also, Digital Signature will not be required for Company Name Approval as Reserve Unique Name (RUN) is a new service introduced by the MCA.

Documents Required to Register Private Limited Company

FOR DSC

  1. Photo (Sign across the photograph by blue pen)
  2. Address Proof (Voter Id/Aadhar Card/Driving Licence/ Passport) of Applicant – Self attested with blue pen
  3. Id proof (Pan Card) of Applicant
  4. E-mail id and mobile number (different for both directors)

 FOR COMPANY INCORPORATION

  • Name of the Company
  • Capital of the Company
  • Shareholding ration of both directors
  • Object of the Company (short summary)
  • Proof of identity- any one of the following document
  • Passport
  • Aadhar card
  • Driving licence
  • Voter id card
  • Residence proof – any one of the following document
    • Telephone bill
    • Bank statement
    • Electricity bill
    • Mobile bill (not older than 2 months)
  • Consent (DIR-2) of each director (prepared by us)
  • INC-9 (Affidavit) (Prepared by us)
  • Address proof of registered office –any one of the following document
    • Gas bill
    • Telephone bill
    • Electricity bill
    • Mobile bill (not older than 2 months)
  • Lease deed / rent agreement/copy of property papers
  • NOC from the owner of the property
  • Declaration of DIN holders (Prepared by us)

Process of Registration of Private Limited Company

  1. Obtain Digital Signature Certificate (DSC)The first and the foremost step is to obtain ‘Digital Signature’. The Companies Act, 2013 requires filing of certain documents along with the digital signature of Managing Director/ Director. Therefore, it has become necessary to obtain digital signature certificate (DSC) from an authorized authority.
  1. Name ApprovalSecondly, name of the company has to be decided. It should not be similar to any other company in the market and should not be of such a character so as to deceive customers. The name should not include words like ‘Bharat’, ‘Hindustan’ etc. as they represent government entity or a public entity. After deciding the name of the Company, the same should be approved by the Registrar of Company (ROC). If the ROC does not approve, then other name is to be decided; and if it is approved then, further move on to make Articles of Association.
  1. Draft Memorandum of Understanding and Articles of AssociationThird Fourth step is to prepare Memorandum of Association and Article of Association. They form the constitution and by-laws of the Company respectively. They are the most important documents required during registration of the Company. They are the Charter and the internal rules and regulations of the Company. It must be drafted with utmost care and with the advice of the experts.
  1. Filing of SPICe – INC-32 – After complying with the above four requirements, there is need to file SPICe – INC-32 for getting Certificate of Incorporation.

Frequently Asked Questions:-

  • How many directors should be there to start a Private Limited Company?

There should be at least a minimum of 2 directors to start a Private Limited Company.

  • How much time it takes to incorporate a Private Limited Company?

It takes around 7-10 days to incorporate a company subject to timely submission of documents by the client. However, it also depends upon the workload of the ministry.

  • Do I need to physically appear before the registrar for processing my application?

No, you do not have to make any appearance or visit before the registrar. It is a complete online process regardless of your location of business. You simply have to send us all the scanned copies of the required documents.

  • What are the documents required for incorporating a Private Limited Company?

Self attested PAN Card, identity and address proof of the directors, copy of Passport [for foreign nationals or NRI], Address Proof of business place, NOC from the owner for doing business will be required.

  • How much will it cost to incorporate a Private Limited Company? Do I need to pay any additional cost after incorporation?

No, you do not have pay any additional cost beyond the incorporation fees to be charged for the company.

  • How do I need to make payment?

Payment will be made online through Net Banking, RTGS, Debit Card, Credit Card or secured payment gateway you with complete bank details and payment gateway option.

  • Can Foreign Nationals / NRI’s can become director in a Private Limited Company?

Yes, Foreign Nationals/NRI’s can become director in a Private Limited Company subject to a minimum Indian director.

  • I want to incorporate a Private Limited Company in Visakhapatnam, what should I do?

Kindly contact the professionals of Aapka Consultant and they will register your company in Visakhapatnam in best price in hassle free and speedy manner.

If you want to register your Private Limited Company in Visakhapatnam then kindly contact HERE.

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