Registration is highly preferred by startups and businesses with higher growth aspirations.
Accotax is backed with an expert team of professionals and qualified professional company secretaries and chartered accountants and ensures highest customer satisfaction and timely delivery of services. Entire process is managed online followed by regular communication and assistance available throughout the process.
For a private limited company registration, it is mandatory to have roles defined for positions of two Directors and two Shareholders,while maximum 15 directors can be appointed in a company. Proposed director must have attained the age of 18 years. A foreign national can also become a director of a private limited company in India.
The owner can act as both the shareholder and one of the directors. The primary reason to register a private company is the status of separate legal entity i.e. the incorporation of company would be of limited liability company and the shareholders are only accountable for the unpaid amount held by them and. The overall procedure for Private limited company registration is cost effective and less complex.
Now a Private Limited Company can be incorporated with ZERO capital. Almost 90% of the companies incorporated in India are registered as private limited companies. It can also be converted into a Public Limited Company in case of expansion OR can be converted into Limited Liability Partnership to reduce burden of ROC compliances.
Documents required for Incorporating a Private Limited Company
Documents required for Name Approval
1. Copy of Income Tax PAN (Permanent Account Number) of all directors / Promoters.
2. Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all Directors / ShareHolders.
3. Latest passport size Photographs of all directors / Promoters.
Benefits of Private Limited Company Registration
Easy Fund Raising
Greater funds supplement and more attractive stability
Separate Legal Entity
A private limited company is a separate legal entity which possesses all the rights to sue or to be sued.
Owners’ Limited Liability
The company’s obligations or debts do not affect the owner's personal assets. Their liability stays limited only to the capital subscribed and unpaid by them.
Management and Ownership Separation
The separate ownership and management help both – the company and the management to focus on their potential works. The shareholders assign responsibility to operate and run the company without losing control in the form of voting.
In a private limited company registration, there must be a minimum of 2 people involved who would share the roles of both shareholders & directors and to a maximum of 200 members.
Registered Private limited company is considered as a separate corporate and legal entity that attracts various angel investors,stockholders and venture capitalists that helps them to expand and raise their funds for the growth of their business.
Ease In Transfer Of Ownership
It is quite easy to transfer equity to new members and issue fresh shares in private company.
Documents required to register a Private Limited Company
PAN Card of shareholders and Directors.
Foreign nationals must provide a valid passport.
Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
Director’s Address Proof
Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
Latest Passport size photograph of Shareholders and Directors.
Business Address Proof
Latest Electricity Bill/ Telephone Bill of the registered office address
NOC from owner
No Objection Certificate to be obtained from the owner(s) of registered office
Rent Agreement of the registered office should be provided if any