If you are thinking of registering a private limited company then we can help you and it is a great idea for any start-up to start their new business with a private limited company.
Private limited company registration can prove to be a better option to take any start-up to a big level so lets know some of its benefits to private limited company.
A Private Limited Company is the most popular legal framework option for new start-up businesses. By which partnership firm can be grow and family business can be run easily and the arrangement of limited liability can be availed so it has the quality of both partnership and company in private limited company.
A Private Limited Company is formed as per the companies Act 2013. Private limited company refers to a company which paid-up capital of at least 1 Lakh or more, as determined. According to the Indian company act 2013 a private limited company prevents the transfer of its shares. Except single person company limits its number of members to 200.
The following are not included in this limit:-
- Person who is an employee of the company and also member of the company.
- People who were earlier employee of the company and were also members of the company while in service and even after leaving the job, remain members of the company.
- When two or more persons jointly take one or more shares of the company, then they are considered to be the same member.
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In a private limited company, the minimum number of members is 2 and maximum is 200. It is legally mandatory for a private limited company to use the word “Private Limited” at the end of its name.
If you want to register your own Private Limited Company, you can completely trust Dial on Financial Services. We will register your company with the company process and the new company building process.
Procedure for Private Limited Company Registration
1. Complete our Simple Form
You need to fill our simple company registration form and submit document for formation of a company.
2. Verification & Name Approval
Details provided by you will be verified and then we shall apply for name approval.
3. Document Submission
We will create all the required documents and file them with ROC on your behalf.
4. Obtain DSC & DIN from Us
After submitting your documents we will provide you with DSC & DIN.
5. Your Work Is Completed
Once your company is incorporated, we shall send you all the documents and DSCs.
Documents Required for Company Registration
- Copy of pan card of directors
- Electricity /Water bill (Business Place)
- Passport size photograph of directors
- Copy of property paper (if owner property)
- Copy of Aadhar card/ voter identity card of directors
- Landlord NOC (format will be provided)
- Copy of rent agreement (if rented property)
- Past six month current bank statement of members
Minimum Requirement of Company Registration
- Minimum 2 Shareholders
- Minimum 2 directors
- Minimum 1 Lakh capital
- DIN for all the directors
- At least one designated partner should be an Indian resident.
Steps For Company Registration :
1. Application of DSC & DIN
First of all, the partners have to apply for digital signature and DIN. Digital signature is an online signature used for filling and DIN refers to directors DIN number issued by MCA. If the director already has DSC and DIN then this step can be skipped.
2. Name Approval
You need to provide 3 different options for your company name to MCA of which one will be selected. Name provided should ideally be unique and suggestive of company business.
3. MOC & AOA Submission
Once name is approved, one need to draft memorandum of association and articles of associate, MOA & AOA are filed with the MCA with the subscription statement.
4. Get Incorporation Certificate
It typically takes 15-25 days to from a private limited company and get the Incorporation certificate. Incorporation Certification is a proof that company has been created.
5. Apply for PAN, TAN, and bank account
Then you need to apply for PAN and TAN, PAN and TAN are received in 7 working days. Post this, you can submit the incorporation certificate, MOA, AOA, and PAN, with a bank to open your account.
Advantage Of Private Limited Company :
A company can raise capital from persons or entities interested in becoming a shareholder.
Limited Liability Protection:-
A private limited company provides limited liability protection to its shareholders. In case of any unforeseen liabilities are create it would be limited to the company and would not impact the shareholders.
Separate Legal Entity:-
A private Limited company is legally recognized as a separate entity. Hence a company can have its PAN, Bank accounts, Approvals, Contracts, Assets and liabilities in its unique name.
Restricted Trade of Shares:-
This is an advantage to some shareholders because shareholders who want to sell their share cannot sell them to outside buyers. Shareholders must also agree to the sale or transfer of shares. The risk of hostile takeovers is low.
Another advantage of a private limited company is its continued existence, even after the owners die or leave the company. A private limited company differs from a sole proprietorship in that the latter is owned by a single individual who is personally responsible for the business debts and essential to its continued existence.
How Can Dial On Financial Services Help You?
Dial on financial services provides you with the best company registration. We help in preparing all the documents of company registrations and in the company formation. We are provides all the facilities from company registration to company management. We will register your company with the company process and the new company building process.
We are here for your happiness guaranteed DOFS is your happiness, which means we stand by our product and services 100%. No matter what, no question asked, no hold barred, No ifs, No end, we will solve it.