Company Registration in India
Incorporation of Pvt Ltd Company
Private Limited Company Registration was never so easy and fast. All our Packages include Name Approval, DIN, DSC, MOA, AOA and Company Registration Certificate along with PAN and TAN Numbers. Start your journey with by getting your company registered!
The first and foremost step before getting Company Registered in India is to understand in simple terms what exactly a Private Limited company is. In India, A Privated Limted Company is a type of company that is privately held and has limited liability. A private company must have minimum of 2 share holders and maximum of 200 shareholders. A company comes into existence as a legal entity after its registration with the ROC under the Companies Act of 2013. To clear any of your doubts you may contact us and get your company registration at the most reasonable prices.
Our Company Registration Package INCLUSIONS:
- Digital Signature (DSC)
- Director Identification Number (DIN)
- Name Availability Search
- Name Approval (RUN)
- Drafting of MOA & AOA
- Certificate of Incorporation
- e-PAN for Company
- Filing of SPICe Plus Form
- Tan Number for Company
- GST Registration
- EPFO & ESIC Registration
- Professional Tax Enrollment (PTEC)
MINIMUM REQUIREMENTS for Company Registration in India
There are certain minimum requirements to be fulfilled for Incorporation of Company in India which are being mentioned here in order to help you check your eligibilty.
Picking the right name is crucial as it creates an image of the brand in the eyes of potential customers. It shares the idea of what the company or services are all about and its the most important keyword for internet searches. Furthermore, certain guidelines have been issued by relevant laws viz The Names & Emblems Act 1950, The Companies Act of 2013, The Trademark Act 1999 which have to be adhered to while choosing the name. E.g A private company can not use the word “State”. Including names such as Union/ Federal/ National/ Republic etc. require the approval of the Central Govt.
Shareholders are the co-owners of the company but they do not run the company. There must be minimum 2 shareholders in a company. They can be natural persons or companies including foreign in origin. Directors are natural persons appointed by the shareholders who control the management of the company. Minimum no of directors in a company is also 2. A director can be of Indian origin or foreign with one condition that out of all the directors, at least one should be a resident Indian.
The maximum limit of shareholders in a Private Limited Company is 200 whereas maximum number of Directors in a company can be 15. The Registrar of Companies has been empowered to increase the strength of Directors if required so.
There should be an existing and valid office address on which the company is supposed to be registered. That is named as registered address of the Company on which all communication of company shall be made.
Benefits of Private Limited Company Registration
A Private Limited Company is the most common vehicle to carry on business for an entity intending to make a profit and enjoy the benefits of an incorporated entity, particularly limited liability. Besides, limited liability and minimal statutory compliances, Pvt Ltd companies offer the following advantages:
- Separate Legal Entity:
An entity means something which has a real existence; a thing with distinct existence. A pvt ltd company is a legal entity separate from that of its members. - Uninterrupted existence:
A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. - Limited Liability:
The liability of the members of a company is limited only to the extent of the face value of shares taken up by them. Where a company is limited by shares, the liability of the members on a winding-up is limited to the amount unpaid on their shares. - Free & Easy transferability of shares:
The transfer of shares in a pvt ltd company is easy as compared to the transfer of interest in business run as a proprietary concern or a partnership. - Borrowing Capacity:
A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public. - Dual Relationship:
In the company form of organization it is possible for a company to make a valid and effective contract with any of its members.
Documents Required for Company Registration in India
The Registrar of Companies is very specific about submitted documents for Registration of Private Limited Company. For example, if an applicant sends voter ID and passport as identity proofs and if there are any discrepancies in the names between both, then there are chances that the application may get rejected or requires re-submission which may delay the process for a couple of days. Even a small mistake in document submission is not accepted.
Documents to be submitted in case of Indian Nationals:
- PAN card (Mandatory)
- Id Proof: (Passport, Voter ID, Driving License, Aadhar)
- Address Proof: (Bank Statement or any utility bill like electricity, water or telephone bill. The address proof should not be older than 2 months)
- Passport size photograph
- Specimen signature – Specimen signature on AGILE PRO S format prescribed for the purpose
Documents to be submitted in case of NRI:
- PAN card (If any)
- Id Proof: (Passport, Driving License)
- Address proof of the country of which he is resident
- Passport size photograph
- Specimen signature – Specimen signature on AGILE PRO S format prescribed for the purpose
DOCUMENTS TO BE SUBMITTED FOR REGISTERED ADDRESS
- Latest Gas bill or electricity bill or telephone bill (not older than 2 months)
- Notarized rental agreement
- Receipt of the latest rent
- In case of owned property – Sale deed or property deed
- NOC from the property owner
Compliances for a Private Limited Company
The term compliance describes the ability to comply with orders, set of rules, or requests. A private limited company that has been incorporated in India must ensure that the compliances concerning the Companies Act, 2013 are adequately met. The Companies Act, 2013 regulates the appointment, qualification, remuneration, and retirement of the Company’s Directors and other aspects such as conducting board meetings and shareholder meetings.
The ROC compliance for registered Private Limited Companies is necessary. Irrespective of the total turnover or the capital amount, the company must comply with the annual compliance requirement. All companies registered in India like a private limited company, one person company, limited company, and section 8 company need to maintain the annual compliances like annual returns and income tax return each year. Though Company Registration happens to be the most popular form of starting a business, various compliances need to be followed once the business is Incorporated.
Compliances for a Private Limited Company
Managing the business’s everyday operations while complying with the difficult corporate laws can be a task for the entrepreneur. So, it is always better to take the professionals’ help and understand the legal requirement to ensure timely fulfillment of these compliances to waive off the penalties or fines.
Under the Companies Act, 2013
S.No
1.
2.
3.
4.
Name of Compliance
Appointment of First Auditor
Issue of Share Certificate
Stamp Duty Payment on Share Certificate
Filing of INC-20A (Declaration for Business Commencement) A company can not start its operations unless and until this declaration is filed to the ROC in the prescribed form INC-20A within 180 days of incorporation. You have to ensure the following before filing INC-20A
- The Company is maintaining a Registered Address
- The details of the Registered office are filed with ROC.
- The current Bank Account for the Company is opened
- Entire Subscribed Capital is received from all the shareholders
Due Date
Within 30 Days of Incorporation
Within 60 Days of Incorporation
Within 30 Days of Certificate Issue
Within 30 Days of Certificate Issue
Local/State Level Compliance: There are few state-level or municipality-level registration or enrollment which may be applicable to any company starting a business in a specific state or within the jurisdiction of a particular municipal corporation. While we strongly recommend you contact us for a detailed overview of the applicable compliance, an indicative list is as under.
S.No
1.
2.
3.
4.
5.
Registration/Enrolment Name
Shops & Establishment Act (With Labour Department)
Deposit of Professional Tax (Applicable in some states)
Stamp Duty Payment on Share Certificate
Registration under Labour Welfare Fund (LWF)
- FSSAI Registration
- FSSAI License
- Drug License
- PSARA License
- APEDA (RCMC)
Due Date
Within 30 Days of Incorporation
Within 30 days of Incorporation
Within 30 days of Incorporation
Varies from State to State
Within 30 Days of Certificate Issue
How to close a Private Limited Company?
As mentioned earlier, a company is the creation of law and has perpetual succession, meaning that it exists beyond the lives of its promoters. In case the company has to be closed for any reason, we have to first ascertain whether the company is an “Active Company” or an “Inactive/Defunct Company”. The approach to closing the company shall vary based on the above determination. Following is the brief method of closing a company based on its type.