Documents Required For Incorporating a Private Limited Company


A private limited company is the most sought after form of corporate legal Registration in India. The MCA (Ministry of corporate affairs) governs the company registration as per the companies act 2013 as well as the companies incorporation rules 2014. Also, for the company registration process, 2 directors and 2 shareholders are required. Remember, both shareholders and directors may or may not be the same person.

In India, private limited company registration is preferred over other forms of business Registration. It ensures limited liability and gives a separate legal entity to the business. Also, company formation results in clear ownership of the business entity which is defined by share capital of the company. The formation of a business entity is the first step in scaling your business and paves the way for outside funding while letting you attract top talent by providing stock options.

But, you need to take into consideration mandatory audits with higher compliance that could be tough to maintain. Also, higher compliance will lend better credibility to your business than any other firm of incorporation of a company in the country. 

What are the benefits of registering a private limited company in India?

Some of the key benefits of registering a private limited company are:

·        Limited liability of shareholders

·        Separate legal existence

·        Transferability of shares

·        Easy fund raising

·        Management and ownership separation

·        Improves credibility and trust

What are the basic         requirements for registering a private limited company?

·         Minimum two directors:

A private limited company should have at least two directors but maximum 200 people can become shareholders in the company. 

·         One resident director:

At least one director should be a resident Indian for private limited company registration. Also, resident Indian means an individual who has spent at least 182 days or more in a financial year in the country. No minimum capital: There is no minimum capital needed for private limited company registration. But, a private limited company must have a minimum authorized share capital of Rs. 1 lakh.

·         Unique Company Name:

The name of your private limited company must be unique and should not be similar to and already existing company name or even trademark. 

Let's Know about the Private Limited Company Registration Process!

The ministry of corporate affairs governs the company registration process. We have mentioned complete Registration below. 

Step 1: Application for DSC (digital signature certificate)

Step 2: Apply for DIN of director identification number

Step 3: Application filing for name availability

Step 4: Drafting and filing of eMoA and eAoA.

Step 5: Apply for PAN and TAN of the company

Step 6: Certificate of incorporation issued by ROC along with pan and tan. 

Step 7: Open a current bank account on your company name. 

What documents are required for private limited company registration in India?

Required Documents for Registration of Private Limited Company is of very importance as a small mistake in documents can result in the waste of efforts in the entire process. Private limited company under company act 2013 provides flexibility in incorporating a variety of different companies with varying extent of liability according to the need and Business needs.

Therefore, a promoter can decide whether to form a one person company, public limited company or Limited Liability Partnership and can choose the type of private limited company to be formed. Also, there are a few set of documents needed for private limited company registration in India. The complete procedure of incorporating a company is managed by the registrar of the companies.

The documents required for the private limited company registration:

 

Stage 1:

     ·         Apply for DIN (Director identification number) for each director

·         Passport size photographs of directors

·         Copy of PAN card of directors

·         Copy of latest bank statement or mobile bill, Electricity bill or gas bill.

·         Copy of aadhaar card, voter ID card of directors

·         Directors email ID and phone number

·         Specimen of digital signature of the directors.

 

Stage 2:

     ·         Proof or registered office address

·         If the property is rented, copy of lease deed or rent agreement, copy of Electricity bill,. Copy of NOC from the property owner, copy of Pan and aadhaar card of landlord.

·         If the property is self owned, then, copy of property papers, copy of any utility bill, copy of NOC, copy of sale deed or property deed.

 

Remember, all these required documents for Private Limited Company registration must not be older than 2 months. The landlord of the registered office must provide a NOC for holding the registered office in your office premises and should submit your identity proof and address proof. 

 

State 3:

·         Once the company name is approved by the ministry of corporate affairs, now you can apply for the Certificate of incorporation. The three forms are needed-1) INC-7, 2) INC-22 and 3) DIR- 12.

 

Stage 4:

Now you need to apply for a certificate to commence business. It is also essential for a public limited company and private limited company as per section 11 of the companies act 2013. It is important to file INC -21 within 180 days of receiving a Certificate of incorporation. 

 

You must choose the right company structure for your business prior to issuing the documents needed for company registration in India. You must pick the company structure wisely because it will let your company operate efficiently and meet the desired targets of profitability. For starting a company, you can choose business structures like one personcompany, LLP, Sole Proprietorship, public limited company and private limited company.

 

For any help, you can contact ExpertBells. Just tell them a few details about your business and submit the documents and they will start the process. You will be ready to operate as a private limited company within 3 weeks. They make your interaction with the government as smooth as possible by doing all the paperwork for you. They will give you absolute clarity on the process to set realistic expectations. Their Online Company Registration team is a phone call away if you have any questions or queries about the process. They ensure that your doubts are cleared or your issues are solved before they arise.

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