Private Limited Company Registration
Private Limited Company is one of the corporate legal entity in India that can be easily incorporated with very few prerequisites. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. According to the rules by the ministry, to register a private limited company one should have a minimum of two shareholders and two directors. A person can be both a director and shareholder, while a registered corporate legal entity can only be a shareholder.
Still, Setting up a company to run your business can be a difficult prospect if you are doing it for the first time. SimplyBusiness has helped many individuals with company registrations. So if you choose use to form a company for you, we are with you at every step guiding you to the unfamiliar legal and financial terminologies and procedures.
SimplyBusiness is the web-based and technology-driven pioneer for legal and financial consultancy and services relating to company registration in India. SimplyBusiness can help you register a private limited company, one person company or section 8 company. The average time required for full procedure for company formation is about 10 – 15 working days. Get a free consultation for private limited company registration by filling the contact form to request a call from SimplyBusiness Advisor.
Procedure For Private Company Registration
Benefits Of Private Company Registration
- Minimum 2 Shareholders
- Minimum 2 Directors are required(Shareholders and Directors can be same persons)
- Minimum 1 Lac Share Capital
- At least one Designated partner should be an Indian Resident
Q. What is the minimum requirement of number to start a Private Company ?
A. Minimum two persons can promote a Private Limited Company. There can be maximum two hundred members of a Private Limited Company.
Q. I already have my digital signature certificate and DIN. Will the package value remain the same?
A. In case, you already have a DSC and DIN, our experts will offer you some concession accordingly on the above package.
Q. Do I need to have commercial space to start a company?
A. No, commercial office space is not required. one can also show their own residential or rented home address as the registered office address of the Company which can be changed at any time after incorporation of the company.
Q. What is authorised and paid up capital?
A. Capital of the Company means the investment made by the shareholders into the company. Authorised capital is an amount up to which company can issue shares. Paid up capital is an actual investment which goes from shareholders into company bank account, against which share certificate is issue by the company.
Q. How many days does it take to incorporate a Private Limited Company?
A. With the help of SimplyBusiness you can incorporate your company in 15 to 20 days time.
Q. Do I need to be physically present during this process?
A. No, your physical presence is not required during the process.
Q. Is registration required to be renewed every year?
A. Once the company is registered, it will be valid till it is closed down. No renewal or fees is required. However, every year companies have to file very basic returns with ROC office.
Q. What is MOA and AOA of the Company?
A. MOA is Memorandum of Association and AOA is Articles of Association. MOA is the chartered document of the Company which contains the important details about the company like what is the object of company, where is it situated etc., where as AOA is the document containing the bye-laws to govern the business of the Company.
Q. Do share capital needs to be deposited at the time of incorporation?
A. After the registration of the Company, Bank account of the company needs to be opened and within 2 months, capital amount needs to be deposited into it.