Business Formation Services
Private Limited Company Registration is suitable for STARTUPS looking for Funding and Long term Growth.
A private limited company is a type of privately held small business entity which limits owner liability to the amount of share capital, limits the number of shareholders to 200.
With registration, MyCorporation.in offers real-time updates, Compliance Support, FREE Accounting and Invoicing Software with FREE Legal Consultation.
Separate Legal Entity
There are several reasons why more individuals choose to register private ltd companies.The advantages of a private limited company include: A Private Limited Company is a legal entity. the company's finances are separate from its owner's finances. Protection from personal liability to Limited company owners.
One advantage of owning a private limited company is that the financial liability of shareholders is limited to their shares. Therefore, if a private limited company will be in financial trouble and need to close the Company then shareholders will not risk losing their personal assets.
Disadvantages of owning a private limited company are: Shares cannot be sold on a public stock exchange. Limited growth and restricted number of shareholders.
|Private Limited||Limited Liability Partnership||One Person Company||Partnership Firm||Sole Proprietorship|
|Recommended For||Start-ups and growing||Professional services firms||Sole promoters||Home businesses||Small traders|
|Ease of Accommodating||Very easy to accommodate||Possible, but unlikely||Possible, but severely||Almost impossible||Impossible|
|Limited Liability Protection||Yes||Yes||Yes||No||No|
|Tax Advantages||Few benefits||Most efficient||Few benefits||Minimal||Minimal|
NO, Private Limited company cannot be converted int Section 8 company.
To incorporate a private limited company, a minimum of 2 people are required. A private limited company must have a minimum of two Directors and can have upto a maximum of fifteen Directors. A minimum of two shareholders and a maximum of upto 200 shareholders are allowed.
The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Private Limited Company.
You can start a Private Limited Company with any amount of capital. As per latest circular, MCA has removed the 1 Lakh Capital Clause. Now a private limited company can be incorporated with less than 1 Lakh Rupees also.
Yes you can register a company in any part of India, Residential Commercial or Industrial.
You will not have to be present at our office or appear at any office for the registration of a Private Limited Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
PAN Card and Address proof is mandatory for all the proposed Directors of the Company. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
We have a record on Incorporating a company in 2 Hours, The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
Company has perpetual succession, that means company can never die. It will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
A private limited company must hold a Board Meeting atleast once in every 3 months. In addition to the Board Meetings, an Annual General Meeting must be conducted by the Private Limited Company, atleast once every year.
Yes, a NRI or Foreign National can be a Director in a Private Limited Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India. Share Holding is subject to Foreign Direct Investment (FDI) Guidelines.
Foreign National resident a) In a country in any part of the Commonwealth, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized by a Notary (Public) in that part of the Commonwealth. b) In a country which is a party to the Hague Apostille Convention, 1961, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized before the Notary (Public) of the country of his origin and be duly apostillised in accordance with the said Hague Convention. c) Other than above - shall be attested by Indian Embasy in that country; d) Foreign subscriber can visit India on Business Visa
1. Copy of Passport 2. Copy of Address proof (Bank Statement or Driving License)
AOA refers to articles of association which defines the internal constitution of the company, and MOA defines mission, vision, business objectives of the company in the log run
No. you need not hire a full-time CA or CS. We will offer your annual compliance package through you will get the right advice from our team.
As Per companies act 2013, company Name should be unique, and business objectives should reflect in its name. Also, do care that business name and legal name should be different. Like Snapdeal is registered as Jasper Infotech Private Limited.
As per Section 165 of the Companies Act, 2013, a person can be director in maximum 20 companies.