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More than 90% of registered companies in India are Private Limited Companies. It is the easiest and most authentic way of company incorporation in India. It offers limited liability to its shareholders and directors while also providing credibility and taxation benefits.
Private limited Company is a type of business entity which is privately and collectively held by a small group of people. It is registered under the Ministry of Corporate Affairs. This type of business entity offers limited liability for its shareholders and shares can only be traded privately. It has a minimum of 2 members and a maximum of 200 members. Shareholders are considered as the owners of the company whereas directors are considered to be the key managerial persons (KMP) of company; while in an LLP, partners are the owners as well as KMPs of the company.
Incorporating a Private Limited Company is the right choice, as it facilitates taxation benefits, credibility, business expansion and quicker sanction of business loans. It promotes the easy way for capital formation and pooling of funds through members.
Let’s take a closer look at the advantages of Private Company Registration in India:
SPICe e-MoA and e-AoA are the linked forms which have to be drafted at the time of application for company registration.
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
The process of registering your company as a Private Limited Company is complicated and involves various compliances. Our experts at Professional Utilities can simplify the whole registration process for you. Register your company online in 3 easy steps:
Fill our simple form and receive a callback from our team of experts
Provide all the required documents for registration of the company and make 50% payment in advance.
Your incorporation certificate including other documents will be delivered to you and you’ll have to make the balance payment.
As per the Companies Act 2013, there are minimum requirements that need to be met for company incorporation online.
Minimum 2 directors
Unique business name
At least one director should be the resident of India
Registered office address
In order to register your private limited company in India, you need to provide proper identity and address proof. These documents are required for directors and shareholders of the company which will be submitted to the Ministry of Corporate Affairs (MCA) portal.
Note: It is not mandatory to own a commercial business premise for incorporation. One can use their home address proof for registration of the company.
Post incorporation of private limited company, you’ll receive the following documents:
The total cost of registering a private limited company depends upon the no. of directors, members and authorized share capital. The starting fees for company registration is Rs. 4,999 including government + professional fees for two directors and authorized share capital of 1 Lakh rupees.
On average, it takes around 7-10 working days to register a private limited company in India subject to document verification by MCA.
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