A Private Limited Company is a Company having a paid-up capital of RS.1Lac.Registration of a Private Limited Company requires minimum two members and maximum number of shareholders can be 50 in the company. It is one of the most common and preferred type of company to be created in India as it gives credibility and confidence on the promoters of the Company.
In addition, it is much easier to avail loans, or any venture capital investments if the company is a private limited as opposed to proprietorship or partnership firm.
A private limited company can have characteristics of both as a public limited company in case of limited liability and at the same time of ease and privacy of a partnership firm. Shares can be easily transferred and an agreement among all existing shareholders a must before inducting any new shareholder.
A private limited company has all the advantages of partnership firm such as flexibility, greater capital combination of different and diversified abilities, and also limited liability, firmness and 100% distinct legal entity.
Processing steps for Registration
JS Tax Consultant can help you to incorporate a Private Limited Company in 14 to 20 working days, subject to ROC processing time.
- Registration of a Company
- Obtaining Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN)
- Certificate of Incorporation
Documents needed for Private Limited Company
- Minimum two Person and 2 color photo of all the persons
- Minimum Capital shall be Rs. 1 Lac.
- Digital Signature Certificate (DSC) for all the directors
- Copy of Pan Card /Voter ID / Passport/Aadhaar card/Driving License(any ID proof) of the all the proposed directors
- Address Proof of all the proposed directors
- Registered Office Address Proof
- Director Identification Number for the directors
- No Objection Certificate from the owner of premises
- Rental agreement is required (in case of premises rented)
- House tax receipt is required (in case of premises owned)
- At least One Director Should is resident in India. PAN is not required in case of Foreign Residents.
Avantages of a Private Limited Company
- Limited Liability
- Perpetual Existence
- Capacity to Sue and to be Sued
- Can borrow more money
- Distinct Legal Identity
- Dual Relationship
- Owning Property
- Easy Transferability
JS Tax Consultant Expert will collect the necessary information and documents for preparation of your Private Limited Company registration requirements.