According to companies Act 2013, you can register a Private company in India. A company is formed when few people get connected to achieve one goal, and they are also interested in using the identical resources to achieve the goal. The private limited company never takes capital from the public means that it does not even raise the shares for the public subscription.
There are many company legal service providers, which offers the firm registration in India, register a private, public company in India, and takes charge of registering different sorts of companies in India.
In this article, we will discuss in details about the register a private company in India. Let's start the discussion from knowing the attributes of the private limited company.
Attributes of Private Limited Company
The following are the attributes of the private limited company:-
1. Less liability
2. Minimum two members
3. Limited rights for transferring the shares
4. At least two directors
5. The whole team should not be more than 200 members
6. There is no fixed amount of capital required
7. The word’private limited should be used
8. All the above points should be mentioned in the Memorandum
Advantages of Private Limited company
1. There are no unlimited liabilities for the directors and head employees.
2. The resources are pooled through which there lots of the resources.
3. Members can join or leave according to their wishes, and this will never affect the continuation of the business.
4. The risk is fragmented between the groups of individuals.
5. Increased creditability of the business.
6. Investors prefer it.
How to register a private company in India
To register the private company, the following steps should be followed:-
1. The name of the company has to be approved by the MCA
2. Get the DIN (Director Identification Number), and the DSC(Digital Signature Certificate) for directors.
3. Company incorporation
4. Fill AoA and MoA
5. Register TAN & PAN
Documents required for the register a private company in India
If you desire to register your company successfully in less time than you should be ready with the documents which are mentioned below:-
1. Provide three names for your company, through which one name can be selected
2. The total amount of the share Capital, and mention the percentage of shares which each of the directors holds.
3. Describe the nature of the business in a paragraph.
4. Mention the city in which the office has to be registered.
5. If the premises is in your name then you have to deposit the sale deed or ownership deed.
6. Deposit the PAN card photocopies of the directories.
7. Proof of the registered office such as the electricity bill, telephone bill or any latest utility bill photocopies.
8. Address proofs of the directors, and shareholders- voter ID, Driving License or Passport.
9. Directors have to submit the latest telephone or electric bill
10. Disclose the occupation of the shareholders and directors.
11. Email ids of each, and every director, and the shareholders.
12. Phone numbers/contact numbers of all the shareholders, and the directors.
13. Recent photographs of all the shareholders, and directors.
14. NOC/No Objection Certificate with the rent agreement photocopy if the property is on rent.
15. All the non –acceptances should be an affidavit.
16.PAN Card of the company.
17. Non-Objection Certificate/NOC have to be submitted if their the primary MOA have changed.
18. Subscriber sheets – AoA, and MoA.
19. If the subscriber is a foreigner then Proof of his/her nationality is required.
Cost for register a private company in India
Rs7,500 is the starting government fee, and Rs5500 is the starting of the professional fees.
The duration required for register a private company in India
It takes around 20-25 working days for the registration of the company. This time frame can be further changed according to the approval duration, and the government processing.
