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The package includes:

  1.  Free Incorporation Advisory by expert Chartered Accountant

  2.  Digital Signature & DIN for 2 Directors

  3.  Company Name Reservation at MCA

  4.  Memorandum & Article of Association

  5.  Filing of Form INC-32, 33 & 34

  6. Corporate Identification Number (CIN)

  7.  PAN & TAN of the Company

  8.  Bank Account Opening Template

  9. Complimentary Legal documents

₹ Start the best structure of business in India online and Fastest with ComplyKart professional

  • Complete solution for starting a Nidhi Company, including incorporation of limited company, issue of shares and obtaining Nidhi status.

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Overview

The most popular type of corporate legal entity, a Private Limited Company is a company handled privately by small and medium sized businesses. With a minimum requirement of two directors and two shareholders for registration, Companies Act 2013 provides to a Private Limited Company limited liability protection for shareholders, perpetual succession, ability to raise equity funds and separate legal status. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014.

The minimum number of members is 2 and can go up to a maximum of 200, the upper limit raised from 50 to 200 in the Companies Act, 2013 which has replaced the Companies Act, 1956. Unlike a public company, a private limited company is not required to keep an index of its members.

The directors of the company must be individuals, whereas a corporate legal entity can be a shareholder. Additionally, foreign nationals, foreign corporate entities and NRIs are also allowed to be the directors and/or shareholders of a Company with Foreign Direct Investment.

Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.

The liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded. One who is opting for Private Limited Company can be more flexible in the short term and long term business decisions and also the complex procedures relating to management and decision making are eliminated.

Complykart is the Industry leader and trusted Company in Registration and managing huge numbers of Companies across India. With a team of expert professionals, we offer exceptional services in minimum time. Get a free consultation for Company Registration and business setup in India by scheduling an appointment with our expert professionals.

Advantages of the Private Limited Company

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Separate Legal Entity

A Private Company carries a range of legal capacities including opening of a bank account, hiring of employees, taking on equity or obtaining licenses and more as an independent corporate entity. It is recognized by the MCA as a legal entity established under the Companies Act.

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Ownership

The shares of a private limited company do not have to be sold on open market, unlike a public company. They are owned by founders, management, or a group of private investors, and can be sold or transferred upon owners’ discretion. Also, Private Limited Company being an artificial person, can acquire, own, enjoy and alienate, property in its name.

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Less Financial Liability

The liability of members of a Private Company is limited to the extent of shares of Company they own. In case the company is not able to pay its debt, the shareholders are not personally liable.

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Venture Capital Funding

Private Limited Company is a wise choice for start-ups, as it is easier to raise venture capital funding and to offer the employees stock options. Banks and other lenders would also much rather lend to private limited companies, as compared to sole proprietors.

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Confidentiality

The regulatory requirements placed on PLCs are fewer than those on public companies. They are not required to disclose information such as executive compensation, book of accounts, legal settlements. .

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Easy Transferability

Transferring shares can easily transfer ownership of a business in a company, though, the consent of other shareholders maybe required to effect share transfers.

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Easy to close

A Private Limited Company is easy to close as compared to other type of business. As a business is not guaranteed to succeed, choosing private limited company as a Structure saves the cost in shutting down.

Registration Procedure

  • 1

    The documents, as listed in the next section should be readied before starting the registration process. This includes a registered office address with documentary proof.

  • 2

    All document submissions are done electronically and hence every company must obtain a Digital Signature Certificate (or DSC), which is used to verify the authenticity of the documents. It usually takes two days to get the DSC from the time of submission of documents.

  • 3

    It is mandatory for every private limited company to use the suffix “Private Limited” at the end of its name. A minimum of one and a maximum of two proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, name approval can be obtained in 2 to 3 working days. The name for approval should not resemble with any other company’s name. It is to be noted that the company name need not be the same as the brand name.

  • 4

    Registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.

Documents Required for Registration

Sub Heading

  • PAN (mandatory) for Indian Nationals.
  • Notarized copy of Passport for Foreign Nationals.
  • A copy of Passport or Driving License.
  • Aadhar Card AND Bank statement.
  • Copy of the rental agreement or sale deed.
  • Signed Digital Signature Application in hard copy.
  • Passport size Photograph of Directors & Shareholders.
  • Recent copy of electricity bill/ property tax receipt/ water bill, not less than 2 months old.

Frequently asked Questions for the registration

What are the limits to register in a private limited company?

Every company with shareholders of maximum 50 can register for the private limited company.

How are the liabilities divided in a private limited company?

There are limited liabilities in a private limited company which somehow keeps every shareholder liable for its own shares

Compare your Options

Comparison of Popular Company Registration Options

All Features

Price

  • Recommended for
  • Venture Capital Funding
  • Limited Liability Protection
  • Dividend Tax
  • Deposits from public
  • Share Listing in Stock Exchange
  • Credibility

Public Limited

₹37899

  • Growth Stage and also for early stage with broad business vision
  • 10/10

Private Limited

₹12999

  • Early-stage entrepreneurs with broad business vision
  • 7/10

Limited Liability Partnership

₹7999

  • Professional service firms
  • 5/10

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Learning Center

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Most important clauses of a Shareholders Agreement
11-09-2020 03:44

A Shareholders Agreement (SHA) is vital for the long-term growth of company because it not only contains the relation between shareholders but also the necessary obligations. In general, having a Shareholders Agreement seem not necessary but once difference of

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Everything about Employee Stock Option (ESOP)
11-17-2020 12:35

Employees are the most essential factor who are responsible for success of a business. To retain the best professionals has become cumbersome for companies & specially startups due to many reasons including cash crunch. One of the best ways to

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Dematerialisation
11-17-2020 12:28

In a major step to keep track of transactions of Corporates and making the things easier and transparent for the Shareholders, the Ministry of Corporate Affairs (MCA) has notified

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