Pvt Ltd Company

Overview of the Private Limited Company Registration procedure in India:

Starting a Private Limited Company is the recommended mode of business in India. As the name suggests, the shareholders of a Private Limited Company have to bear minor liability compared to other forms of companies. There are lesser conditions related to ownership of such a company as well.

If you want to register your very own Private Limited Company, you must be worried about the complications of the procedure. Eazy Startups are here to help you with your Private Limited Company Online Registration process. Eazy Startups can be your legal partner at a very economical price. We make the process easier by guiding you through all the steps. We adhere to the rules and regulations of the Ministry of Corporate Affairs.

Advantages of registering a Private Limited Company:

If you still can’t decide on the registration, then let’s see some benefits of registering a company:-

• Boost your credibility among customers
• Attracts customers to your business
• Boost your chances of credit and loan approvals from banks
• Protect from personal liabilities and be safe from the risk of losses
• Raise your potential for a business expansion
• A more significant contribution to capital and a more stable financial situation

Let’s see the advantages of Private Limited Company Registration in further detail:

• Easy Credit Availability
• A private limited company can raise funds from two primary sources: unsecured bonds and stockholders. This corporate entity attracts investors that support the company with more capital to help expand their business.
• It is a Separate Legal Entity
• As an artificial person, a private limited company can purchase any property or assets in its name. This is because it is considered a separate legal entity with all legal rights.
• Increased chance to Expand Globally
• It is easier for private limited companies to expand globally as they support Foreign Direct Investment. This gives them an advantage over other types of firms that require licensing from the administration for foreign investments.
• Limited Liability
• The private limited company is a separate legal entity; this reduces the risk of liability for its directors or members and limits it to their share only.
• Gain trust in the market
• The market comprises consumers and other elements – investors, suppliers, and vendors trust a registered company more than non-registered ones. The information about any registered private limited company is available to check on the Ministry of Corporate Affairs’ official website.
• It exists on its own
• A private limited company can exist lifelong. It cannot be dissolved under the following conditions – death, retirement or insanity of any of its directors/ members/ shareholders.
• It is simple to transfer ownership.
• It is effortless to transfer shares to new members and to issue new shares in a private limited company.

Requirements to fulfil while setting up a Private Limited Company:

There are specific requirements that must be met to own a Private Limited Company as per the Companies Act, 2013:

• Unique business name – Think of a unique name for your business. It should not match any other company or their trademark in the country.
• Minimum Capital – The authorized share capital of a company should be at least 1 lakh; else there are no rules for minimum capital as such.
• Two Directors in your company – The maximum number of directors in a company can be 15; there should be a minimum of two directors, among which one must be an Indian citizen.
• Registered Office Address – There are np as such restrictions regarding the ownership of the registered office. This creates an opportunity for those who want to rent an office space. They need a NOC from the landowner.

What are the documents required when registering your company?

The Ministry of Corporate Affairs in India demands the mandatory submission of some documents when registering a Private Company. These are the mentioned essential documents:-

• Government recognized identity proof of the shareholders and directors of the company. These can be either Aadhar Card, Driving License, Voter Card or Passport.
• Recent Passport size photographs of the Directors and Shareholders of the company.
• Address Proof of the Business such as Electricity Bill or Telephone Bill
• In the case of a rented Business Office, a No Objection Certificate and Rent Agreement is required from the landlord.
• PAN Card of the Shareholders and Directors

Step by Step guide to the Registration Process:

The process of a Private Company registration can be a demanding one. But as you looked at the benefits of registering a company earlier, you must accept that it can be worth it. There’s no need to worry as you have Eazy Startup specialists to guide you along the procedure. Here are the steps for the registration process:-

• Apply for a Digital Signature Certificate, popularly known as DSC.
• Apply for DIN of Director Identification Number
• Apply for the Name registration after cross-checking that name if available
• Draft the required documentation like AoA and MoA
• Apply for the TAN and PAN of the registering company
• Wait for the ROC with PAN and TAN to grant a Certificate of Incorporation
• Open a Company Current Account with better current options in your wish’s corporate bank.

Frequently Asked Questions