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Private Limited Company Registration In India

Register private limited company with India’s leading platform. At Laudable we provide quick and affordable service to register a private limited company in India through 100% online process. Our services are trusted by thousands of entrepreneurs in all major cities of India. Pvt Ltd Company Registration is highly preferred by startups.

 

What is Private Limited Company?

Private Limited Company is a most popular option to start a business in India by startups and businesses with higher growth aspirations. Private Limited Company is incorporated under the Companies Act, 2013 and governed by the Ministry of Corporate Affairs in India. It is a registered corporate structure that provides business a separate legal identity from its owners.

It can be registered with minimum of two directors and subscribers/shareholders. A person can be both a director and shareholder in a Private Limited Company.


Private Limited Co. Registration

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Advantages of Private Limited Company


  • Limited Liability: Limited liability means that the company owners are not personally liable to pay debts of the business. In case of business loss or failure, owners are only accountable for the unpaid shares of the company’s capital.
  • Separate Legal Entity: Private limited company is a separate legal entity.
  • Easy to Transfer: Shares of a company limited by shares are transferable by a shareholder to any other person. The transfer is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership
  • Continual Existence: A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. Private limited companies enjoy permanent succession because the company is its legal entity. Shareholders and employees act “as agents of the company,” and therefore, do not affect the company if they leave.
  • No Minimum Capital: For a private company, the earlier minimum number of the share capital was Rs. 1,00,000, but now there is no such minimum capital compulsion. Therefore there is no pressure of fund requirements.
  • Easy Funding: It is easy to fetch funding in a private limited company by transferring of shares.
  • Tax Advantages: Private limited companies enjoy tax advantages in addition to limited liability. These companies pay corporation tax on their taxable profits and tend to be exempt from higher personal income tax rates.

Disadvantages of Private Limited Company


  • Limited Liability: Limited liability means that the company owners are not personally liable to pay debts of the business. In case of business loss or failure, owners are only accountable for the unpaid shares of the company’s capital.
  • Separate Legal Entity: Private limited company is a separate legal entity.
  • Easy to Transfer: Shares of a company limited by shares are transferable by a shareholder to any other person. The transfer is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership
  • Continual Existence: A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. Private limited companies enjoy permanent succession because the company is its legal entity. Shareholders and employees act “as agents of the company,” and therefore, do not affect the company if they leave.
  • No Minimum Capital: For a private company, the earlier minimum number of the share capital was Rs. 1,00,000, but now there is no such minimum capital compulsion. Therefore there is no pressure of fund requirements.
  • Easy Funding: It is easy to fetch funding in a private limited company by transferring of shares.
  • Tax Advantages: Private limited companies enjoy tax advantages in addition to limited liability. These companies pay corporation tax on their taxable profits and tend to be exempt from higher personal income tax rates.

Documents Required



Passport Photo
Copy of PAN Card
Copy of Electricity Bill
Sale Deed (if owned)
Copy of Aadhar Card
Address Proof of Director/Partner (Bank Statement / Mobile / Telephone Bill)
Copy of Rent Agreement
No Objection Certificate

Minimum Requirement to register Private Limited Company

 

  • A minimum number of two Directors who are adults.
  • One of the Directors of a Private Limited Company has to be an Indian Citizen and Indian Resident.
  • The other Director(s) can be a Foreign National.
  • It is also required to have two Shareholders of a company.
  • The Shareholders and director can be same person.

Process For Incorporation Of Private Limited Company

Obtain Digital Signature

1
Apply for Director identification Number

2
Filling of Reserve Unique Name

3
Company Incorporation Form

4
Verification of Documents

5
Issuance of Certificate

6
Bank Account Opening

7

Choose Package

 

Basic Plan

₹ 2,499

  • Register your Private Limited Company at Ministry of Corporate Affairs
  • Drafting & Filing by CA/CS
  • Expert advice by CA/CS
  • MCA processing and CIN
  • Company PAN & TAN
  • MOA
  • AOA
  • Allotment of 2 DINs
  • ESI and PF registration
  • Board Resolution for current account opening.

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Standard

₹ 13,999

  • Register your Private Limited Company at Ministry of Corporate Affairs
  • Company PAN & TAN
  • MOA
  • AOA
  • Allotment of 2 DINs
  • ESI and PF registration
  • Current Account Opening in your nearest branch
  • MCA processing
  • GST registration
  • The 1st Board Resolution documentation
  • Consent Letter drafting
  • Appointment of the Auditor
  • INC-20A commencement of business
  • Financial statement preparation
  • Drafting of Board Report ( Annual Return)
  • MCA annual return filing and DIR-3 Director KYC.

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Premium

₹ 19,999

  • Register your Private Limited Company with the Ministry of Corporate Affairs
  • Company PAN & TAN
  • MOA
  • AOA
  • Allotment of 2 DINs
  • ESI and PF registration
  • Current Account Opening in your nearest branch
  • MCA processing
  • GST registration
  • The 1st Board Resolution documentation
  • Consent Letter drafting
  • Appointment of the Auditor
  • INC-20A commencement of business
  • Income Tax Return filing
  • Financial statements preparation
  • Drafting of Board Report ( Annual Return)
  • MCA annual return filing and DIR-3 Director KYC
  • GST Return filing for 12 months.

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Workflow at Laudable Legal

 

Step 1 :
Fill our registration form.
Step 2 :
Expert will call you & receive all the necessary documents.
Step 3 :
Our experts will start drafting the requirements.
Step 4 :
Your DSC will be created.
Step 5 :
Name approval will be taken from ROC.
Step 6 :
The documents will be filled and uploaded on ROC portal.
Step 7 :
Congratulations! Your company is incorporated.

Comparison


 

Particulars Private Limited Company LLP One Person Company
Ideal For Businesses having high turnover and enterpreneur who need external source of funding Service oriented business that have low investment needs Proprietor looking to limit liability and wants 100% control over the business
Minimum Share Capital No requirement for minimum share capital No requirement for minimum share capital No requirement for minimum share capital. If capital exceeds 50 lakhs, OPC gets converted to Pvt. Ltd.
Members Required Minimum 2 Minimum 2 Minimum 1
Maximum 200 Maximum No limit Minimum 1
Directors Required Minimum 2 Two designated partners Minimum 1
Maximum 15 Maximum not applicable Minimum 15
Statutory Audit Compulsory Not compulsory unless partner’s contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs Compulsory
Liability of Partners/Directors Limited Limited Limited
Foreign Direct Investment Eligible via automatic route Eligible via automatic route Not eligible for FDI
Income Tax Rate 22% 30% 22%
Statutory Compliance More Less Moderate
GST Registration In case of service if turnover exceeds 20 lacs Same Same

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FAQ

   What is limited liability?
Limited liability is a type of legal structure for an organization where a corporate loss will not exceed the amount invested in limited liability company (LLC). In other words, investors’ and owners’ private assets are not at risk if the company fail.
   Can NRIs and foreign nationals or foreign entities register a private limited company in India?
Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, it is mandatory to have atleast one Indian resident director to be a part of the company on the Board of Directors.
  Can small business get registration under the private limited company?
Yes, a small business can get its business registered under private limited company registration in India. It provides them with the credibility and an image of their business in the eye of the financial institution, suppliers and potential clients. It helps the company to get the loans at little compliance from banks or potential clients while entering into the deals.
  What is the minimum and maximum number of directors required in a private company?
The law requires that every private limited company must have at least 2 directors. A company can have a maximum of 15 directors.
  What is the minimum and maximum number of shareholders required in a private company?
You can start a private limited company with a minimum of only 2 members (and maximum of 200), as per the provisions of the Companies Act 2013?
  Who can become director in the company?
According to the Companies Act, only an individual can be appointed as a member of the board of directors. Usually, the appointment of directors is done by shareholders. A company, association, a legal firm with an artificial legal personality cannot be appointed as a director. It has to be a real person.
  What is the eligibility to become a director in the company?
The Companies Act does not prescribe any qualification for a person to become director in a company. However, director of a company may be required by the Articles of association of the company to hold certain shares in the company to be eligible to become director in the company.
  What is the educational qualification required to become a director?
As per Companies Act, 2013 there is no educational qualification required to become a director in the company.
  What is the disqualification of director?
According to Companies Act, 2013, a director can be disqualified for any of the following reasons:

  • A) He is of an unsound mind and is declared so by the court.
  • B) He is insolvent.
  • C) He is in the process of declaring insolvency and his application is pending.
  • D) He has been convicted by a court of any offence (whether or not involving moral turpitude) and has been imprisoned for at least six months. However, if a person has been convicted of any offence and has served a period of seven years or more, he shall not be eligible to be appointed as a director in any company.
  • E) If an order has been passed disqualifying him from being appointed as a director by a court or Tribunal.
  • F) He has not paid any calls with respect to any shares of the company held by him, whether alone or jointly with others, and a period of six months has elapsed from the last day fixed for the payment of the call.
  • G) He has been convicted of offences dealing with related party transactions at any time during the last preceding five years.
  • H) He has failed to acquire a Director Identification Number.
  What is DIN?
DIN is a unique Identification Number allotted to an individual who is appointed as a director of a company, upon making an application in form DIR-3 pursuant to section 153 & 154 of the Companies Act, 2013.12.Is an address required in India for starting a company?
Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.
  Can a company change the Registered Office of the Company?
Yes, a company can easily change the registered office of the company any time after the specified procedure is completed. The changed address can be situated within the same state or in a different state, depending upon the conditions.
  What is the minimum capital needed to form a Private Limited Company?
As per Companies Act, 2013, the minimum paid-up capital to form the Private Limited Company was Rs. 1 lakh but after the amendments in Companies Act (2013), Companies (Amendments) Act, 2015 states that there is no minimum limit of Paid-up capital to form Private Limited Company.
  Can sole proprietorship be converted in private company registration?
Yes, sole proprietorship can be converted into private company registration after following the companies act, 2013 procedures.
  What is the mandatory statutory requirement after company incorporation?
Company is required to maintain certain compliances once it is incorporated. An auditor needs to be appointed within 30 days and INC-20A needs to be filed within 180 days.