PRIVATE LIMITED COMPANY
Incorporating a Private Limited Company is like giving birth to a child, as it requires to take utmost care on time. Private limited Company is the Most Preferred and common type of Entity in India. Two persons come together to incorporate Private Limited Company to do lawful business Transactions with limited liability. There are various exemptions as Compared to Pubic Limited Company. Private limited Company is incorporate with the motto to raised fund. In this globalised world private limited company grows more faster. As 100% FDI is allowed without any approval. In Private Limited Company, liability is limited, it is extended upto to the share capital/Guarantee given by its Promoters.
Most of the startup and growing Company goes for the private company as it allows to raise capital very easily, 100% FDI , limits the liability of the director and shareholder, allows employees stock option.
If you want to Register your Private Limited Company than HMJG LEGAL E-SERVICE INDIA PVT LTD will help you in Company formation and in all the Compliance after Company registration.
ADVANTAGES OF PRIVATE LIMITED COMPANY
LEGAL SEPARATE ENTITY
Private Limited Company is an artificial distint Entity so it is separated by law from its owner. In case of Sole Proprietorship business comes to wound up in case of death of the owner .
The liability of the shareholder is limited upto unpaid subscription money in his name and the personal Asset does not get affected by it unlike Sole proprietor or Partnership Firm.
EASY AND LESSER COMPLIANCE
Compliance Requirement as Compare to the Public Company is much lesser. As Private Company has got many exemption under Companies Act 2013
Death and insolvency of any of the member does not affect the continuity of the company. Thus the life of its members does not affect the company. Person can become member or even can leave the organization. Transfer of share can not affect the company.
Effective Decision making can be made as more brain are introduce to think about a problem.
Document Required for Private Company Registration
Identity and Address Proof
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarised copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
Registered Office Proof
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
*Stamp duty Extra for States: Punjab, Kerala, Madhya Pradesh, Sikkim *Charges extra for NRI/Foreign Directors
Frequently Ask Questions on Private Company:
How many person are required to start Private Limited Company?
Maximum Number of person can be in a Private Limited Company?
Is an office required for starting a Private Limited Company?
- Agreement Copy of Office Premises (Sale/Purchase Agreement or Lease Agreement).
- Address proof of office address (latest electricity bill or latestGas bill or Mobile bill).(Latest electricity bill in case of rented accommodate Indian National).
- PAN Card of the Individual.
- Address Proof of the Individual (Electricity Bill, Telephone Bill, Bank statement or passbook or rent agreement and latest electricity bill in case of rented accommodation).
- Photo ID Proof of the Individual (Passport, Driving License, Voter ID or Aadhaar Card) Foreign National.
- Minimum two directors.
- Minimum two shareholders.
- TWO(2) Proposed Name.
- Object of the Company.
- Capital contribution.
- Subscriber to the Memorandum and Article if different.
- Din No. of the Directors (if any).
Thinks you will get?
- Certificate of Incorporation (COI)
- Permanent Account Number (PAN)
- Tax Deduction and Collection Account Number (TAN)
- Digital Signature Certificate (DSC)
- Corporate Identity Number (CIN)
- Board Resolution for Bank Account Opening