How to Start a Private Limited Company Registration
Private Limited Company, the most popular legal frame for businesses, should be chosen by anyone planning to raise funds and with a long-term business view. A Pvt. Ltd company can be incorporated with a minimum of 2 directors (DIN) and a maximum of 200 directors (DIN) and has a minimum of two stockholders and a maximum of 200 stockholders. Owners of the company have limited liability to creditors. In case of a default, banks/creditors can sell only company property but not the personal assets of directors.
IT companies and startups usually prefer Pvt. Ltd. Company because it is easy to pick up funds from business capitalists. Also, funds can be raised through a safe contract. The tax rate for the Private Limited Company is also less compared to Other Company. Private Limited Company Registration Online in India can be done through Filing Buzz in all major cities including Delhi, Lucknow, Bangalore, Mumbai, Pune, etc.
FilingBuzz is Indias leading platform for legal services and we make the process of Private Limited Company Registration easy and hassle-free for you. In addition to Private Limited Company, FilingBuzz can also help you with the registration of Sole Proprietorship, Partnership Firm, One Person Company, Limited Liability Partnership (LLP), Section 8 Company, Nidhi Company, and more.
We provide the following services
Features of Pvt. Limited Company
- Unique and Meaningful Name: The name should not resemble to any of the existing entities and shall not contain any offensive words detrimental to the interest of the society at large. Also, the name should necessarily align with the objects of the company and must contain the word Private Limited;
- Minimum Capital: The minimum capital contribution requirement by the promoters in case of a Private Limited Company has been removed and the company can be set-up with any amount of capital. It shall be contributed by all the shareholders in the proportion of the shares held by them.
- Minimum Directors and Shareholders: There shall be present at least two Directors and Shareholders for the registration of a Private Limited. Both Directors and Shareholders can be similar person.
- Registered Office: There shall be present, at the time of Company registration and at all times thereafter, a registered office address for the communication of the important matters by the authorities or otherwise. The registered office can be an owned property or a rented one.
Reasons to choose a Private Limited Company
- Goodwill: As compared to a sole proprietorship or a Partnership firm, the Private Limited holds better goodwill in the system, because of their accountability towards the Ministry. This also helps the promoters to raise funds from Banks and other Financial Institutions.
- Better Credibility among customers: Due to their accountability towards the authorities, a Private Limited is more credible among their customers and hence contributes to create a larger customer base.
- Limited liability of the Promoters: The liability of the promoters is only limited to the amount of capital contributed by them. It gives greater sense of independence to run the business.
- Perpetual Succession: The life of the company is for indefinite period of time and shall not be affected by the life and death of its promoters.
- No capital constraint: Being a closely held entity, the anytime business requirement of funds can be satisfied by further capital contribution by the shareholders.
Advantages of Private Limited Company
- Easy to take funds from domestic as well as international funds
- Limited Liability
- Incorporated in 5 working days
- Less expensive to incorporate
- Minimum 1 lakh Share capital
- No unlimited liability for members or directors.
- Preferred by Investors
Procedure for Private Limited Company Registration
- Digital Signature Certificate (DSC) for the directors.
- Name approval by the MCA
- Drafting MoA and AoA.
- Drafting Spice-Part B
- Drafting Agile-Pro
- Drafting Spice-9
- Grant of Certificate of Incorporation
- Apply for PAN & TAN
- Self Attested Pan Card Soft Copy (All Directors)
- Self Attested Voter Id Soft Copy (All Directors)
- Self Attested Aadhaar Card Soft Copy (All Directors)
- Passport Size Photo Graph (All Directors)
- Latest Bank Statement (All Directors)
- Address Proof Like Electricity bill, Gas Bill, Land line Phone Bill or Postpaid Mobile bill
- In case office address is rented then required rent agreement
- NOC signed by landlord
- All directors Email id and Mobile number
- Company name and business details
Timeline for Private Ltd Company Registration
It may take anywhere between 8 to 10 working days for registering a private limited company. This timeline is ahead subject to government processing and approval time.
Why choose FilingBuzz for Company Registration?
- Qualified and Experienced professionals with 6 years of average experience.
- Admittance to highly qualified professionals (Chartered Accountant, Company Secretary) anytime, anywhere in India.
- No hidden fees Fixed price or long-term commitment.
- Our money-back guarantee makes sure that you get complete satisfaction, every time you choose our services 100% satisfaction guaranteed.
If you want Register Private Limited Company Online Please Call: 9999730333 OR Email Us: email@example.com
A minimum number of two directors is required for registering the private limited company.
Any ordinary legal person/organizations including foreigners/NRI can become a member/directors of private limited company.