The Private Limited Company Registration provides you with some of the benefits: which include...
What is a private limited company? In India, Pvt Ltd Company registration is a very popular legal structure for setting up of the most of the business forms. A private limited company is a form of privately held business in which the shares of the company are prohibited from being publicly traded. In this article, we will tell the procedure for opening a current bank account for Private Limited Company?
According to the provisions of Companies Act, 2013, a Private Limited Company should be having a minimum of 2 members, and the number of members can go up to 200. For the registration of a Pvt. Ltd company, it must have directors with limited liability to their shares. A private limited company gets registered within ten working days. In the case of death, insolvency or bankruptcy, a private limited company will keep on existing in the eyes of the law, also referred to as perpetual succession.
After overcoming a lot of challenges, your Private Limited is finally incorporated. The second step is to open a Bank Account of the Company. A company is in a position to open more than one account, but it should have a basic account after it has been incorporated.
All the enterprises have to open a bank account necessarily in the name of the business after starting the private limited company. This account establishes your reliability in the marketplace. It is not compulsory. In this article, we get to know about the procedure for opening private limited company bank or current account with the documents required.
The board resolution for opening a bank account can be used for opening the bank account of a Private Limited Company or a One Person Company, as the case may be. After the generation of the board resolution for the purpose of opening bank account can be printed on the business letterhead and provided to the Bank in which the account is to be opened.