Private Limited Company
Setting up a Private Limited Company in India requires a minimum of TWO Shareholders and TWO Directors. The Shareholders can be the directors of the company. One of the directors, however, should be a Resident Indian.
Choosing the name of the company is a bit tricky! While choosing the name, one has to ensure that the Name
- Does not Resemble the Name of any other already Registered Company.
- Does not Violate the Rrovisions of Emblems and Names (Prevention of Improper Use Act, 1950) by availing the services of checking name availability on the portal.
- Select, in order of Preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.
Once the name is chosen, then file an application for the incorporation with Registrar of Companies (ROC), along with Memorandum and Articles of Association, Particulars of Directors, etc.
Digital Signature – All the Directors have to mandatorily obtain the Digital Signature. Once the application is processed by the Registrar of Companies, they will issue Incorporation Certificate mentioning a Corporate Identity Number (CIN).
Documents Required for Private Limited Company Registration
- PAN (Permanent Account Number) of all Proposed Directors / Shareholders.
- Address Proof (Voter ID, Passport, Driving License, Aadhar Card) of all Proposed Directors / Shareholders.
- Latest Passport size Photographs of all Directors / Shareholders.
- Registered Office Address Proof – Electricity Bill along with Rent Agreement or Ownership Proof or NOC.
- Additional Address Proof all Directors / Promoters with Present Address, Mobile Bill or Telephone Bill or Electricity Bill or Bank Statement.
Frequently Asked Questions
What is Minimum requirement for Company Incorporation ?
- Minimum 2 Directors (One must be of Indian resident)
- Registered Address must be of India's.
How may days time it takes for Private Limited Company Registration?
Over all process of Company registration by Tax Assist takes approx 10 to 15 working days. The time varies on basis of approvals by MCA department.
Can NRI / Foreign Nationals become Director / Shareholders in Company?
Yes. NRI / Foreign Nationals can do Company registration in India. However there need to be 1 Resident of India as Director in Company.
Can a OCI Card Holder in India do Company Registration?
Yes. OCI Card holder can be Director in Company. However there need to be 1 Resident of India as Director in Company.
Who is Eligible to be come Director in Company?
18+ years above age any person can become Director in a company. Simply minors cannot become Director in company. Even NRI / OCI holder can become Director in company.
Can I start a Company with my Family Member?
Yes , you can start company with family member. On later stage, you can simply change Shareholding / Directorship as needed.
Can i Incorporate Private Limited at my Residential (Home) Address?
Yes. Most of the Entrepreneurs do Company Incorporation on Residential (Home) Address. Later on, as per need,address can be changed easily.
Do I get Physical copies of Certificate of Incorporation, AOA, MOA by MCA?
No. Company Documents of Certificate of Incorporation, AOA, MOA are provided by MCA in PDF format. There is no physical documents sent by MCA department.
Does GST Registration is Mandatory for Private Limited?
No. GST make GST Registration mandatory, if turnover crosses Rs. 20 lacs, for Service / Rs.40 lacs, for Goods Supply and Rs. 10 lacs, for North East State.
Does my Private Limited Company have Validity / Renewal?
No. Registration of Company in India is Lifetime. Hence there is no need for Renewal.