Private Limited Company Incorporation

Private Limited Company (PLC) Incorporation

Introduction

Private Limited Company is the most popular form of business entity among investors, a joint venture or 100% owned company in India.

For the startups to have a strong foundation and raise the funds in future Private Limited Company is a viable option. These are the companies which are privately held by the people. They are mostly preferred as a common business organization in India. Shareholders may operate the business themselves, or hire directors to manage the company on their behalf. Government Provides various Incentives to Private Limited Company. 

There must be a minimum two directors required to a private limited company and a director must be 18 years above in age. There is no minimum requirement of capital. Private limited company can be started with any amount even you can start with 1000 or 10000 or any amount.

  • Separate Legal Identity
  • Potential to Grow Big
  • Easy Business Expansion & Diversification
  • Fast Procurement of Funds
  • Free to allot new shares to outsider
  • Easy Loan from Director, Relative & Shareholder
  • Attracting Investment Opportunities
  • Easy Ownership Transfer – in Part or Whole

Service Includes

  • Name reserve through RUN (Reserve Unique name)
  • DSC (2 Nos) 
  • Includes Govt Fees & Stamp duty for Authorized Capital upto 1 Lakh except for the states of Punjab, Madhya Pradesh and Kerala
  • Includes Government Fees & stamp duty Upto 3500/-
  • Filing of SPICe+ (Spice Plus) form 
  • Drafting & filing of  e-MoA (Memorandum of Association) & e-AoA (Article of Association)
  • Director Identification No. (DIN) – 2
  • PAN & TAN
  • Issue of Incorporation Certificate
  • GST Registration (as per business need)
  • Includes Fees for DSC (2 No.)
  • Business Hours CA Support – Email, Phone, WhatsApp

Required Documents

1) For each Director/Promoter : 

 

a) Passport Size Photos

b) PAN Card

c) Aadhaar Card

d) For Identity Proof –  Passport/Driving License/voter ID (any one)

e) For Residential Proof – Bank Statement/Electricity bill/Landline Bill/Mobile bill/Gas pipeline bill not older than two months (any one)

f) Passport is mandatory for Foreign Nationals

g) Specimen signature

 

2) For Registered Office Address – Electricity bill / Landline Bill / Mobile bill  / Gas bill, but not older than two months (any one)

3) Rent agreement of your registered office

4)No Objection Certificate from owner of property

Frequently ask questions

Private Limited company is the most Popular Business structure. It give as separate legal existence to the business apart from its directors and shareholders. In a Private Limited Company, the shareholders are considered to be the owners of the company and the directors are responsible for the day to day operations of the business.

Taxfolios Team usually takes 4-5 working days to Incorporate a company subject to approval from MCA.

Following Number/Certificate you will get after Private Limited company Registered:
(i) Certificate of Incorporation
(ii) DIN allotment
(iii) Mandatory issue of PAN
(iv) Mandatory issue of TAN
(v) Mandatory issue of EPFO registration
(vi) Mandatory issue of ESIC registration
(vii) Mandatory issue of Profession Tax registration(for Maharashtra state only)
(viii) Mandatory Opening of Bank Account for the Company and
(ix) Allotment of GSTIN (if so applied for).

No, GST service is add on Service with company registration, so price of Package will remain same.

No, as all the forms are filed on the web portal and are digitally signed. Also, the required documents are not required in hard copy, it can be sent through e-mail or uploaded on our portal for filing

No, Registration for Profession Tax shall be mandatory through SPICe+ only in respect of new companies incorporated in the State of Maharashtra w.e.f 23rd February 2020. For other states it is not mandatory.

A minimum of two directors and a minimum of two shareholders are required for legal registration of a Private Limited Company (PLC). Director can be shareholder.

No, a minimum of two shareholders is required for legal registration of a Private Limited Company (PLC). For One Person there is different business structure called as One Person Company (OPC).

No, professional or educational qualification is not required to become a shareholder in the private limited  company. Any individual in the capacity of the person, with the sound of mind, Major of age, Citizen or resident of India can start a company.

Yes, you can register the Company providing your home address as Registered office. There is no restriction or regulation that only Commercial places can be used as registered office company.

Director will get DIN when company got incorporated. Director Identification Number (DIN) is a unique identification number given to an existing or a potential Director of any company which is incorporated. Director will get DIN when company got incorporated.

Digital Signature Certificate is provided in the form of a token issued by Certified Authorities. Any form filed for online company registration in India shall be submitted after affixing the DSC of an Applicant. Also, the
directors will require DSC for DIN application and the subscribers to MOA shall possess DSC for submitting e-forms for incorporation.

There is no minimum capital requirement to Incorporate Private limited company.

To execute the Big idea into a successful long term business Private Limited Company is the best choice for start-ups.

Yes, a salaried person becomes the director in private limited company, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
Government employee cannot be a director.

Private Limited Company is preferred by Venture Capitalists because it provides much easier investment opportunities and hence capital can be raised in easier ways. PLC can get Foreign Direct Investment (FDI) of upto 100% through the automatic route, meaning, any foreign entity or foreign person can invest in a company without any prior government approval.

It is a written document which is signed on behalf of a company to serve as a legal proof of ownership of shares in that company. Company is required to issue share certificate within 60 days from the date of receipt of share capital amount.

Private Limited Company is costly. Meeting of shareholders must be conducted frequently.

Once, Company got Incorporated, should comply with below mentioned requirements on priority basis:

    • Appointment of Statutory Auditor
    • Depositing paid-up capital as mentioned while registration of company
    • File INC 20A before commencement of business or 180 days from the date of registration; whichever is earlier
    • Issue and allotment of shares

Reviews

We are happy to help you !!

 

₹ 8,599

If you have any query please fill the form and we will get in touch within 10 minutes

We are happy to help you !!

 

₹ 8,599

If you have any query please fill the form and we will get in touch within 10 minutes