Private Limited Company Formation
Establishing a private limited company provides the most control and strongest presence to any business.
Incorporating a private limited company is the simplest and quickest way to set up a business in India for an Indian as well as Foreign venture. Moreover, numerous exemptions are available to a private company with lesser restrictions as compared to public limited company. Thus, most of the businesses prefer to form a private limited company.
As per Section 2(68) Private limited company means a company having a minimum paid-up share capital as may be prescribed (as such no minimum paid-up capital is prescribed), and which by its articles-
(i) Restricts the right to transfer its shares;
(ii) Limits the number of its members to two hundred.
ENERGY PROGRESS
Features
- Company can have minimum 2 and maximum 200 members.
- It is mandatory for all private limited companies to include the words “Private Limited” in their names.
- The shares of private company cannot be transferred freely to the public.
- Atleast one director must be an Indian resident
ENERGY PROGRESS
Benefits
Currently there is no minimum paid-up share capital.
- It is a separate legal entity from its members.
- It enjoys perpetual succession which means it continue to exist until it is legally dissolved.
Checklist of documents
- Copy of PAN card, Passport/ Voter-ID/Driving license of Director(s)
- Bank Statement of directors(s)/ Electricity bill
- Passport size photo of director(s)
- NOC from owner of registered office and rent agreement or sale deed (if any)
- Signature specimen of director(s)
Process of Pvt Ltd Company Registration
Registering your own company can be quite a complicated task, as it involves a lot of procedures that need to be undertaken. Better to have proper knowledge about the process of private limited company registration and also the assistance of experts at Aplite Advisors. The entire process is stated below:
Most of the private limited company registration process is done online only. So, all the approvals need to be done online. For setting Online Pvt Ltd Company Registration in India it is important to obtain a Digital Signature Certificate.This is one of the most important steps without which the registration process can never be completed. It is mandatory for all the subscribers and witnesses in MOA and AOA to have DSC. This certificate can be obtained from government-recognized authorities. Mostly the cost of getting this certificate depends upon the certifying authorities.
If any person wants to be the director of the company, he/ she needs to have their Director Identification Number (DIN). There are two ways to obtain DIN. The first one is through the filing of the DIR 3 form in which the person needs to fill in basic details like PAN card, Aadhar card, etc, and get everything approved by the authorities. The next way is through the SPICe+ form, in which a maximum of three directors can apply for DIN. This will play a very important role to register or starting a private limited company in India.
If you want to open up a private limited company, it is very important to get your name approved. The person needs to fill up the SPICe+ form, in which two unique names of the company can be stated. The form is submitted online; the authorities will either approve or reject the names. If the name gets approved, that is good. If there are rejections, after 15 days of rejection, the person needs to apply with two other proposed unique names.
The Ministry of Corporate Affairs has introduced form SPICe+ for the registration of all the new companies from 23rd February 2020. Both Part-A and Part-B have web-based processing that needs to be done online. Once the name of the company is approved, the applicant needs to fill up the Part-B of SPICe+ for web-based incorporation of the company. Nowadays, web-based processing has helped a lot of people to experience a seamless and quick process of incorporation.
e-MOA refers to the Electronic Memorandum of Association, and e-AOA is an Electronic Article of Association that needs to be submitted during the registration process of the company. MOA represents all the internal rules and regulations of the company that needs to be followed. Now both e-MOA and e-AOA are submitted on the online platform of MCA and linked to form SPICe+ (INC-32) ; both these documents need the digital signatures of the subscribers of MOA and AOA.
The person also needs to get the company’s PAN and Tan. The system itself will generate these forms after the submission of the SPICE+ form. The certificate of incorporation of a Private limited company is issued with the PAN, which is allotted by the Income-tax department of India. All this will be mailed to the person who is sent by MCA.
For corporate payroll accounting services, contact Aplite Advisors!!
So, if you are planning to register a Pvt ltd company in India, you need to thoroughly follow all the steps.For corporate payroll accounting services, contact Aplite Advisors!!
So, if you are planning to register a Pvt ltd company in India, you need to thoroughly follow all the steps.
How do Aplite Advisors help with Private Company Registration?
Book your appointment:
First, the person needs to book an appointment with us. This can be done easily by sending a query on the platform. The team of experts from one of the top financial consulting firms will make sure to get in touch with the clients as soon as possible.’
Upload your documents on the website:
The experts can only guide the person if they get access to all the documents that are required in the process. For this, the person needs to upload all the documents on the website and let the experts go through them once. This includes passport photographs of directors, address proofs of directors, specimen signature, self-declaration about directorship in other companies, rental agreement of the registered office, Aadhar card, PAN card, and No objection certificate.
Document verification by experts:
Before sending the documents with the application form, our experts make sure to verify the documents were properly uploaded by the client.
Our experts will help to fill out forms on the MCA portal:
Getting the assistance of the experts makes the overall process quite easy for the person. Once you get in touch with Aplite Advisors, most of the work is done by the experts on behalf of clients.
Outsource accounting & outsource bookkeeping services are considered the best and most seamless option for the companies. For world-class assistance and affordable Accounting Services, get in touch with the expert team of Aplite Advisors which is a renowned financial accounting firm. This platform has a specialist for every process. This way, the Pvt ltd company registration online becomes quite easy and a smooth process. Our company has good experience in working with different companies across industry sizes and verticals and provides our clients with the best financial accounting advisory services.