Private Limited Company is the most common and famous kind of corporate legitimate substance in India. The Ministry of Corporate Affairs administers private restricted organization enlistment in India. Organizations are consolidated and controlled under the Companies Act, 2013 and the Companies Incorporation Rules, 2014. Finacbooks can assist you with organization enlistment crosswise over India at a truly moderate value point.
Eligibility and Requirements of Documents
To private limited company registration, at least two people to go about as Directors and investors are required. The investors of a private restricted organization can be a corporate substance or a characteristic individual. An executive must be a living individual with one Director being an occupant and Indian Citizen. An individual is assigned as an occupant on the off chance that he/she goes through more than 186 days in India.
There are no confinements on outside organizations or remote nationals being Directors or investors of a private constrained organization. As, outside nationals, remote corporate elements or NRIs are permitted to be Directors and Shareholders of a Company with Foreign Direct Investment, consolidating an organization is the favored decision of passage to India for outside advertisers.
Advantages of registering a private limited company
Registering a private limited company has different advantages compared to a partnership firm or LLP as under:
Raise of Equity: An organization can raise value capital from people or substances keen on turning into an investor. Subsequently, a private constrained organization is an absolute necessity for Entrepreneurs hoping to fund-raise from blessed messenger financial specialists, investment firms, private value firms and speculative stock investments.
Protection of Limited Liability: A private constrained organization gives restricted obligation assurance to its investors. If there should be an occurrence of any unexpected liabilities are made, it is constrained to the organization and would not affect the investors.
Legal Entity of Separate: A private limited company is lawfully perceived as a different element. Thus, an organization can have its PAN, ledgers, licenses, endorsements, agreements, resources and liabilities in its interesting name.
Existence of Perpetual: An organization has interminable presence and never finishes without reason. For an organization to lose its reality, it must be ended up by the Promoters or be ended up by the Government. Thus, an organization must be ended up for reasons like resistance or inability to agree to rules and guidelines.
Transferability of Easy: As the responsibility for the organization is spoken to by shares – the responsibility for company can be moved to some other legitimate element or individual in India or abroad effectively – to a limited extent or entirety. Further, since the investors control the Board of Directors, the Directors can likewise be supplanted effectively by investors to guarantee business progression effectively consistently.
Documents Required for Company Registration
The documents required for company registration can be grouped under three heads:
Documents for Directors:
You need two identity proof documents.
1 Aadhaar,
- PAN
- Passport
- Drivers License
- Government-issued identity document would be required.
Documents for Registered Office:
Companies Registered in India need mandatorily manage a registered office in India. In the case of leased property, lease deed copy for the registered office propositions along with, with a NOC from Landlord and property tax/EB bill receipt/water bill copy of the registered profession assets. In case of own property, sale deed copy along with the property tax/EB bill receipt or water bill copy of the registered office property.
Documents for Corporate Entities: In case one of the subscriber or shareholder to the AOA and MOA is a Corporate Entity (LLP, Company etc.,) then Incorporation Certificate of the Body Corporate must be added along with the declaration passed by the Body Corporate to contribute to the shares of the company under incorporation.
Company Registration Process for Private Limited Company
Finacbooks can formation a company in less than ten days – subject to Government times of processing and all documents availability. On managing the important report and documents digitally, the process for company registration begins with getting digital signatures for the intended Directors and Shareholders. Your Finacbooks Manager of Engagement will submit the digital signature certificate and generate a link to complete video eKYC verification. The applicant would then have to complete a short selfie video and verify OTP to confirm the application. Upon approval of the petition, the digital signature will be declared on the same day.
Parallel to the process of digital signature, your Engagement Manager will also submit a name approval request to the Ministry of Corporate Affairs for permission. Please assure that you provide multiple options for the company name that is in line with the Regulations of Companies Naming in India to ensure quick approval. The Government typically gives name permission within 48 hours in India.
On getting name approval, we will make all the legal documents that must be confirmed by the Directors and Shareholders on the same day. Once you have verified the documents and confirmed off, we will apply for formation with the MCA on the same day. The MCA will give incorporation approval in about 48 to 72 hours during days of business. If the incorporation approval is approved, the Government will issue the certificate of incorporation, PAN for the company and the TAN.
Source:
How to Get Private Limited Company Registration in India
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