WHAT IS PRIVATE LIMITED COMPANY?
Private company is the most preferred form of business. Private company can be form by two persons. Private Limited Companies are those companies which are privately held by the people. Minimum of 2 and maximum 200 members are required in Private Limited Company a private limited company has very benefit of a partnership like flexibility, greater capital contribution etc combined with limited liability, greater stability and legal entity.
ADVANTAGES
- It can be started with minimum paid-up capital of Rs. 0
- The minimum two directors is required to incorporate
- Transfer of share can be restricted as per Articles of the company.
- It can take loan from shareholders, directors and relatives of directors but not from the public.
- The company has a separate legal entity
- 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.
DOCUMENTS REQUIRED TO REGISTER PRIVATE LIMITED COMPANY
- Self attested copy of PAN Card (Foreign Nationals & NRIs)
2. Self attested copy of Voter’s ID/Passport/Driver’s License
3. Self attested copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
4. Scanned passport-sized photograph
5. Sale Agreement, if owned or Rent Agreement, if rented
6. Scanned copy of No-objection Certificate from property owner
MINIMUM REQUIREMENTS FOR PRIVATE LIMITED COMPANY
- Minimum 2 Shareholders
- Minimum 2 Directors
3. Minimum 1 Lac Share Capital
4. DPIN for all Directors
5. Atleast one Designated partner should be an Indian Resident.
FAQ
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 not more then a 15 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 an 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], 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 the company. A proper Invoice will be generated which is inclusive of all the charges.
How do I need to make payment?
Payment will be made online through secured payment gateway. A proper invoice will be sent to 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.
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