WHAT IS PRIVATE COMPANY REGISTRATION?

A Private Limited Company is the most popular business entity for businesses in India. It requires a minimum of two members & two directors and it is most appropriate for small and medium-sized businesses. It's a privately-owned company that has a limited liability and allows 100% foreign direct investment with government approval. Setting up a company only takes around two weeks. It also allows significant distinction between the business entity and management.

Private limited companies enable outside funding to be raised easily, offer the benefits of limited liability, and enable companies to offer employee stock options.

PRIVATE COMPANY REGISTRATION PROCESS IN INDIA

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STEP 1 : SELECT A COMPANY NAME

The first step is to finalize a brand name and company legal name. Consult with a professional so you can make sure the company name is available on the Ministry of Corporate Affairs (MCA) website.

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STEP 2 : DIGITAL SIGNATURE CERTIFICATE (DSC)

All proposed directors of the Private Limited Company must have a digital signature that will be used to file the online company registration application. One can also use the same DSC for signing documents.

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STEP 3 : DIRECTOR IDENTIFICATION NUMBER (DIN)

Director Identification Number (DIN) is a unique Identification Number which is allotted to every person who intends to become a director in a company. Applications for the allotment of DIN can be made in the Spice+ form at the time of company's registration.

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STEP 4 : NAME APPROVAL

For name approval, an application is filed in the prescribed Form SPICE+ Part A with the Ministry of Corporate Affairs.

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STEP 5 : SUBMISSION OF FINAL INCORPORATION FORM (SPICE) ALONG WITH MOA & AOA

After name approval, one needs KYC and other prescribed documents of Directors & Shareholders. After submission of Spice+ form to MCA one will get Certificate of registration along with PAN & TAN.

As per the recent amendment, a new form has been introduced named as AGILE Submission of this form will provide registration of EPFO, ESIC & GST of the Company

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STEP 6 : BANK ACCOUNT

Open your bank account for your business and take the necessary steps to launch it.

Benefits

1. SEPARATE LEGAL ENTITY
One of the benefits of registering a private company is that it's a separate legal entity. This means that the company will have its own rights and obligations, which are not dependent on those of the members. The identity of a private limited company is distinct from that of its members.
The benefit of Private Limited Company registration is that the liability of the person who invests money into the business (also known as shareholders) will be limited. This means that if something goes wrong with the company, people have less exposure.
A Private Limited Company has the flexibility to easily raise loans and investments from Angel Investors, Venture Capitalists NRIs and foreigners. Unlike a Public Limited Company, it is not required to have an elaborate formal process of funding.
A Private Limited Company can be incorporated with minimum 2 directors by filing online E-form Spice+ Once the documents are verified, Certificate of Incorporation (COI), Pan Card & TAN is issued to them.
A registered private limited company enjoys many tax benefits as well. As a result, the business owner can save money on taxes, which can be used to reinvest in the company and either grow it or distribute it among other shareholders.
Private Company are easy to sell and do not require many documents for the sale to be completed. They also cost less than other types of companies because there is no need for a public share issue.

Get a free consultation for Private Limited Company registration by scheduling an appointment with FINLAWCITY.

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WHY CHOOSE US

1. EXPERT PROFESSIONALS
FINLAWCITY, has a team of qualified and experienced Chartered Accountants and Company Secretaries, our team of Chartered Accountants and Company Secretaries has the experience to make your company registration process hassle-free.
FINLAWCITY provides you online company registration service that offers you free advice and reliable assistance to complete your company registration in India. We also offer an online payment service to make the process easy, simple and convenient.
We know that start-ups often have a limited budget and we work hard to keep costs low. We offer competitive pricing with no hidden fees and our service is streamlined from start to finish.
Our 100 % technology driven platform will save you time and money as we have a team of professionals who are well versed with their job.
We at FINLAWCITY ensure start-ups to focus on their project and leave all the legalities and documentations to us. From our technology driven platform and on time delivery start-ups prefer us to do Company registration for them. FINLAWCITY offers a free consultation for Private Limited Company registration in India. To schedule an appointment, call 09711717331 or fill out the online form.

Requirements

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Minimum two directors

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Minimum two shareholders

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At least one director should be from India

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Maximum 200 shareholders.

Documents Required

Pan Card

Pan Card

Pan Card of Shareholders & Directors. Foreign Directors must provide a valid Passport.

Photograph

Photograph

Latest Passport size photograph of Shareholders & Directors.

Identity Proof

Identity Proof

Aadhar Card/ Voter ID/Passport/ Driving Licence of Shareholders & Directors.

Address Proof

Address Proof

Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.

For Registered Office

For Registered Office

Rent agreement Utility bills-telephone, electricity, and municipal (Not older than 2 Months) NOC From Owner.

NOTE

In case of NRI or Foreign National, documents of director (s) must be notarized or apostilled

Frequently Asked Questions

What is a Private Limited Company?
A private limited company is the most popular legal structure option in India. It is governed by the Ministry of Corporate Affairs (MCA) under Companies Act 2013 and must comply with certain regulations. For example, it must have at least two directors and 2 shareholders and a maximum of 200 shareholders. It also cannot offer shares to the public.
A private limited company in India requires a minimum of 2 directors and 2 shareholders. One director must be a resident of India. The company must also have a registered office in India.
A digital signature certificate (DSC) is an encrypted signature that is saved on a pen drive. It makes the online registration process easy by signing ROC form or PDF.
A Director Identification Number (DIN) is a unique number assigned by the Ministry of Corporate Affairs to individuals on whose name the application is made. This allows an individual to be a director in any company.
Anyone over the age of 18 can be a director, provided they have a DIN (Director Identification Number).
When a company is formed, it has to specify the maximum amount of money that it can raise by issuing shares. This is known as the authorised capital. The actual amount of money that the company has raised by issuing shares is known as the paid-up capital. Paid-up capital is always less than or equal to authorised capital.
Yes, a Private Company can carry multiple businesses if it is mentioned in the company’s MOA and approved by a registrar. The company can mention more than one business operating within the same field. For e.g. - A private company can be registered as an e-commerce platform that sells clothes, shoes, and accessories. However, the business activities must be inter-related, and the nature of business should be similar.
Yes, you can register a Private Limited Company at a commercial or residential place by providing the sufficient proof. A registered office is a place where the business receives communication, if any. The company must have an address to which all communications and notices may be addressed.
All directors must provide identity and address proof, as well as a copy of the PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate must be submitted by the Owner of the registered office premises.
It is safe to register your company online with a trusted company like FINLAWCITY. You will be able to complete the registration process quickly and easily, and you will be able to access your account securely. You will also be able to manage your account and view your company's information online.