To incorporate a private limited company a minimum of two persons are required over the age of 18 years with atleast one person being an Indian citizen and resident.
Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.
Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.
IndiaFilings is the market leader for services relating to company registration in India. IndiaFilings can help you register a private limited company, one person company, nidhi company, section 8 company , producer company or Indian subsidiary. The average time taken to complete company formation is about 10 - 15 working days, subject to government processing time and client document submission. Get a free consultation for private limited company registration and business startup by scheduling an appointment with an IndiaFilings Advisor.
Process for company registration as announced by the MCA for the year 2018. The MCA has simplified the company incorporation process by introducing Reserve Unique Name (RUN) form for simplifying name approval process and reducing incorporation fee for private limited companies.
List of documents required for company registration in India. Documents required for Indian or Foreign Director, registered office and shareholder in company.
Difference between authorised capital vs paid up capital explained in detail with an illustration. Visit IndiaFilings to know more about authorised capital.
The Ministry of Corporate Affairs has re-introduced the concept of commencement of business certificate in 2019. All companies registered are now required to obtain commencement of business certificate before commencing any business or exercising any borrowing powers.
GST registration procedure, eligibility and documents required. Entities with an annual revenue of more than Rs.20 lakhs must obtain GST registration. Complete your GST registration online with expert help from IndiaFilings and obtain your GSTIN in less than a week from the comfort of your home.
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Open a new or link your existing ICICI bank current account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.
Opening a current account for a private limited company is easier when compared to opening of current account for a sole proprietorship firm as a company is a registered legal entity – recognized by law. Therefore, once a company is incorporated, a bank account can be opened in the name of a company with the incorporation certificate of the company and identity/address proof of the Directors.
Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a private limited company the liability of the shareholders in respect of the company’s liabilities is limited. In other words, the liability of the shareholders of a company is limited only to the value of shares taken up by them.
Authorised capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased after incorporation at anytime to issue additional shares to the shareholders.
To register a private limited company, a minimum of two people are required to act as directors and shareholders. The directors must be natural persons, while the shareholders can be natural persons or corporate entities. In addition, a registered office address in India is also required for company registration.
On average, private limited companies are registered by IndiaFilings in 10 to 15 days. The processing time would vary on a case to case basis based on the time taken by our clients to submit the necessary documents and government processing time.
Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to be a part of the company on the Board of Directors.
Any person over the age of 18 years can become a director in a company. Also, there are no conditions on residency or citizenship. Hence, NRIs and Foreign Nationals can easily start and manage a private limited company in India.
Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.
Use the IndiaFilings company name availability search functionality to search for available company names in India. It is important to note that IndiaFilings would just provide available choices, based on identical names already registered. However, the government could still reject a name based on test for similarity.
Company incorporation certificate is provided as a pdf document by the Ministry of Corporate Affairs (MCA). MCA does not provide hard or printed copy of incorporation certificate.
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