Online Company Registration | Process to register Private Limited Company

Online Company Registration

A Private Limited Company is the most accepted business structure in India. It is governed by the Articles of Association (AOA) and Memorandum of Association (MOA).

Package Inclusions –

DSC and DIN for 2 Directors.
Company Name Reservation.
MOA & AOA.
Corporate Identification Number (CIN).
PAN & TAN.
Bank Account Opening Template.

Overview on Private Limited Company

The Private Company is defined under Section 2 (68) of the Companies Act 2013, as a company which has the minimum paid-up capital of Rs 1 Lakh. A Private Limited Company is owned by the members, which must be a minimum 2 in number and may extend up to 200 in number. However, acts of members of the Private company are governed by the Articles of Association (AOA) and Memorandum of Association (MOA).

What is a Private Limited Company Registration?

The Private Ltd. Company registration, first of all, requires a minimum composition of 2 members and 2 directors. However, the maximum number of members can be 200, and maximum directors can extend up to 15 for the registration of a private limited company. The Private Ltd. Co. also has limited liabilities for its members and does not issue its shares to the general public.

Private Ltd. Co. registration in India initially requires the Digital Signature Certificate and Director Identification Number in favor of one director for the purpose of incorporation. One has to apply to the concerned RoC to ascertain the availability of name in eForm1. A fee of Rs. 500/- has to be paid and the digital signature of the applicant proposing the company has to be attached in the form.

Thereafter, the company needs to obtain approval for the name and to identify that no company with a similar name is existent at the time of incorporation of such a new company. Once the approval is obtained, one has to file required forms that will be Form 1, 18 and 32 within 60 days of name approval and the necessary documents. Finally, after a full verification regarding the registration process, file a declaration in eForm 19 and eForm20. Lastly, MCA will issue a certificate for commencement of business of the Private Limited Company.

Process of Company Registration in India

Benefits of a Company Registration

The Pvt Ltd. company is governed by the Companies Act 2013
At least two members are required to set up a Private Limited Company
The Private Limited has a separate legal entity than of its members
Private Co. has perpetual succession, which means that any changes in members such as death, bankruptcy, exit, transfer, etc. do not affect the existence of the company.
In the Pvt Ltd Company, a member is liable for his actions only to the extent of his liability in the form of a contribution to the capital.
In the Private Ltd. Company, the capital is raised privately from the shareholders and cannot be raised or borrowed money from the general public.
The Private Ltd. company has the capacity to sue and can be sued.
The Pvt. Ltd. company can borrow funds in the form of loans from the financial institutions.
The Co. can own the property in its own name.

Essential Requirements for Company Registration

Minimum 2 members required and Maximum 200 members
Minimum Paid-up capital required is Rs 1 lakh
Minimum 2 directors required and a maximum of 15 directors
DSC (Digital Signature Certificate) is required
DIN (Director Identification Number) is required in favour of the one main director

Documents for Company Registration

PAN card details of all the directors and shareholders
DIN or Directors Identification Number of all the designated directors
DSC or Digital Signature Certificate of the designated directors
Memorandum of Association (MOA) and Article of Association (AOA)
A NOC or No Objection Certificate from the landlord of the business place
Address Proof of all the proposed directors and shareholders of the company.
Identity Proof such as Aadhaar card, PAN card, Driving License, Voter Id of all the designated directors and shareholders.
Other utility bills such as telephone, water, gas, or electricity bill as residential proof of the registered office. It should not be older than 2 months.

Particulars	Private limited Company	Limited Liability Partnership	One Person Company
Recommended For	Early-stage entrepreneurs /Growing businesses	Professional service firms	Small business and owned by a single promoter
Credibility	High	Moderate	Low
Raising Capital	Easy	Moderate	Difficult
Employee stock option	Yes	No	No
Business growth	High	Moderate	Low
Liability	Limited	Limited	Limited
Dividend Tax	Yes	No	No

How Enterslice helps you to get Private Limited Company Registration

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Frequently Asked Questions about Private Limited Company Registration in India

1. Do I need to be present during the Company Registration process?

Company registration is a 100% online process. No need to present physically to our office or ministry of corporate affairs. We will send our personnel to your home or office for document signature.

2. What is the Articles of Association (AOA) and Memorandum of Association (MOA)?

AOA refers to articles of association which defines the internal constitution of the company, and MOA defines mission, vision, and business object of the company in the long run business.

3. Can I register a Company at the residential address?

Yes. You can use the residential premises for Company registration as well for GST Registration.

4. Do I need to hire a full-time CA/CS?

No. You don't need to hire a full-time CA or CS. We can do all the formalities required for annual compliance on your behalf as we are backed by a team of professionals.

5. How much time is required for registering a private limited company in India?

Usually, we register a company within 7-20 business days.

6. What are the rules for picking a name for a private limited company?

As per the Companies Act 2013, the company name should be unique, and the name should reflect the business object.

7. What documents are required for Private Limited Company Registration in India?

All proposed directors should provide identity proof (like Aadhar/Passport/DL/any other government-issued ID, Utility bills as address proof, a copy, PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.

8. What is a DSC & DIN?

The DSC is a digital signature certificate which is issued by the certifying authority to sign the electronic documents. DIN is a director identification number. DIN is allocated along with Certificate of Incorporation through SPICe Form.

9. What is the validity of the Private Limited Company Registration?

A Private Limited Company Registration certificate issued by the registrar of the company shall be valid throughout the life of the company.

10. Can an NRI become a Director in a Company?

NRI can become a director in a Pvt. Ltd. company and there is no requirement of obtaining the prior approval of the government or RBI however at least one director must be a resident of India.

11. What is the minimum investment required to set up a Private Limited Company in India?

For Private Limited Company Registration in India, there is no requirement of minimum Paid-up Share capital or contribution.

12. What if I don't have any partner? Can I Register my Private Limited Company with my family members?

Yes. You can register your Private Limited Company with your family members and later you can transfer shares if you want.

13. Is GST Registration mandatory for the private limited company?

GST Registration is not mandatory until the turnover of your company reaches 20 lakh rupees or 10 lakh rupees in case of the northeastern state.

14. Can I apply for Startup India registration?

Yes, startup India registration is possible with the private limited company registration. For this, you just need to register with the startup India portal. No worries, we will do this on your behalf.

15. Am I eligible to do multiple businesses under one private limited company registration?

Yes, you are eligible for multiple businesses under one private limited company. However, you are required to mention the detail of all the businesses in the MOA of the company while going for registration.

16. How can I protect my company name or logo in India?

For this, trademark registration application should be filed to the authority after company registration.

17. What are the prescribed minimum requirements to become a director of a Private Limited company?

1. Any individual or company can become a director in a company.

2. An Individual must 18+ years Age.

18. Can I become a director in a company if I am already working somewhere or doing a full-time Job?

If there is no employment contract then you can become a director in a company. But usually, you should avoid this. As your Employer will not allow you to float a company with the employment.

19. Is FDI allowed in a private limited company?

Yes, Venture capitalist firms or angel investors can make an investment in the private limited company.

20. What are the mandatory Annual Compliances for Private Limited Company?

Following are under the mandatory annual compliances-
1. Auditor Appointment.
2. Convene AGM.
3. Income Tax Return filing.
4. Filing of Annual Return and financial statements etc.

21. Can a private limited company be converted into any other type of entity such as LLP or OPC?

Yes, a Private limited company can be converted into the LLP or OPC at any time by filing the appropriate forms with the prescribed government authority.

22. What is the meaning of limited liability in the Private Limited Company?

Limited liability means that the liability in a private limited company is limited up to the contribution made by the members of the company.

24. What is the Private Limited Company Registration Fees?

The government fees for Company registration is approximate Rs. 3500 and you can hire a CA/CS their fees may be in the range of Rs 5000 to 10,000 depending on their expertise and quality of work. The experienced CA/CS is able to give you error free MOA & AOA Draft as a well right selection of company business activity in Spice form. Always avoid fresher or Non-CA/CS firm in case you are hiring a company registration consultant in your city.

25. Can I convert my existing One Person Company to Private Limited Company?

OPC can be converted to Private limited subjectively you have a paid-up capital above Rs. 50 lac or annual turnover is more Rs 2 Cr. The conversion of OPC to Private limited company may take time between 15 to 25 days.