Well, at this point, are you really ready to take it to the next level? The formation of Private Limited Companies in India is often considered to be a strategic alternative by most entrepreneurs since it provides credibility combined with a limited liability and a scope for future investments:
How would Diligence Certifications help you in the process on this count?
It establishes a Private Limited Company in India; an avenue most approach when government tenders and projects are concerned. Because it provides the authenticity and legal recognition that are often prerequisites to enter into contracts with government bodies; however, knowing the registration process will be specifically required to meet the agencies’ stringent demands.
It will furnish the advantages, each step to take, as well as other information that makes a difference for your company in the public sector. From eligibility checks to the fine art of going through the documentation maze, this guide will give you an overview to set you on your way to smoothly registering your Private Limited Company and unleashing the work of government business ahead of you.
A private limited company is one of the most common companies under Companies Act, 2013 in India. This is a privately held business entity. The shares in a Private Limited Company would typically be held by directors, their relatives, and close friends. This is somewhere in between having benefits of partnership and limited liability of a company. Hence, it is mainly preferred by new and growing businesses for funding and expansion.
The private limited company registration and compliance thereafter is looked after by the Ministry of Corporate Affairs under the Companies Act, 2013 and the regulations related to it. The authority regarding registration of companies and ensuring the law is followed is the Registrar of Companies (ROC).
The Certificate of Incorporation is the document that the Registrar of Companies (ROC) issues after the incorporation of the company is completed. It is a document for the legal proof that the company is registered and thus entitled to carry on its business in India.
Why choose a Private Limited Company? Here are some key advantages:
With regard to their structure, a Private Limited Company has different forms:
– Two members at minimum: A minimum of two shareholders and directors are required by law.
– The upper limit of 200 members: More than 200 members cannot be made.
– Limited Transferability of Shares: Share transfer is subject to restriction, barring unwanted stakeholders.
– Mandatory registration: Must be registered with the Registrar of Companies (ROC).
– Name clause: At the end of the name, “Private Limited” must be written.
– Paid-Up Capital Criteria: Though the requirement for minimum paid-up share capital of INR 1 lakh has been waived, it is good to be capitalized reasonably.
Smooth registration depends on preparing documents properly and other requirements. Here is what you require:
–Digital Signature Certificate (DSC)-Signing documents with this certificate is an electronic signing service.
–Director Identification Number (DIN)-Every director must obtain a DIN allotted by the MCA.
–Name Approval-A unique name should be picked for the company and apply for the approval of the same. Preferably have-2-3 options beforehand.
–Registered Office Address: The registered office must have a physical address.
–Memorandum of Association (MOA)-Defines the scope of activities the company may undertake.
-Articles of Association (AOA)-Internal regulations concerning the company management are laid down here.
-Identity and Address Proof-Directors and shareholders’ identity and address proofs are ideally provided from among PAN, Aadhar, driving license, and passport.
-Photographs-Passport-sized photographs of the directors and shareholders.
-Affidavit-Declaration from the applicant stating that all given information is correct.
Navigating the intricate legal and procedural requirements of private limited company registration can be intimidating. This is where expert consultants like Diligence Certifications come into play.
Assistance Offered By Diligence Certifications in Acquiring Your Certification:
-Expert Guidance: We offer in-depth guidance for registration at each stage of the process.
-Document Assistance: We assist you in preparing and putting together all relevant documents correctly.
-Check Name Availability: We help in choosing a name for the company that is unique and compliant and will check for availability.
-DIN and DSC Application: We apply for DIN and DSC for the directors.
-ROC Filings: We take care of all filings with the Registrar of Companies.
-Compliance assistance: Maintenance compliance support for a company with all the laws.
-Timely Registration: We will facilitate quick registration and save time and effort.
A private limited company, abbreviated as Pvt Ltd, means an entity or business activity that is legally registered and provides limited liability protection to its owners, independent of its legal status, and allows the very easy transferability of ownership.
- Limited Liability Protection - The shareholders do not have personal liability for the debts of the company.
- Legal Recognition - Increases credibility with investors, banks, and customers.
- Funding opportunities - Attracts investors and venture capital for Pvt Ltd companies.
- Perpetual Existence: The company continues despite transfer in ownership.
- Tax Benefits - Entitled for various provisions of tax exemptions and deductions.
✔ Minimum 2 Directors (At least one must be a resident of India).
✔ Minimum 2 Shareholders (Directors and shareholders can be the same).
✔ Registered Office Address in India.
Besides other requirements, such as:
✔ Authorized & Paid-up Capital details.
Obtain DSC- required to e-file documents.
Generally, registration takes around 7-10 working days, depending on the verification of the documents submitted and approval from the concerned departments.
An accurate estimate will vary according to government fees, professional charges, and documentation requirements. Diligence Certifications have affordable packages with clear-cut pricing.
No, at least two directors/shareholders are required for a Pvt Ltd company. However, if you would like to start the business alone, you can register it as a One Person Company (OPC).
Yes,a foreign national or NRI can also register a Pvt Ltd in India, but at least one director must be a resident Indian.
Diligence Certification provides:
✔ Expertise in business structures and legal compliance for consulting
✔ Assistance with registration processes and documentation, in an end-to-end manner
✔ Fastened approvals as a result of streamlined MCA process
✔ Advisory services for post-registration compliance and financial matters
Now register your Public Limited Company with ease! Contact Diligence Certification today for a free consultation!
The Diligence Certifications was created with the primary objective of providing compliance services in India and globally, by assisting in the implementation of business to ensure compliance requirements – all requirements in one place.
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