Private Limited Company Registration
A company is an association of persons who share a common goal. Moreover, they use a common pool of resources to achieve this goal. A private limited company is a company which does not raise capital from the public. This means that it does not issue shares for public subscription. In India, private limited company registration is done under the Companies Act, 2013.
PocketLawyer is India's leading platform for business registration services and we make the process of Private Limited Company Registration easy and hassle-free for you. In addition to Private Limited Company Registration, PocketLawyer can also help you with registration of One Person Company, Partnership Firm, Sole Proprietorship, Limited Liability Partnership (LLP), Section 8 Company, Nidhi Company, Producer Company and more.
Features of Private Limited Company
A private limited company has the following features:
- Limited liability.
- At least two members.
- Not more than two hundred members.
- Restricted rights to transfer shares.
- A minimum of two directors.
- No minimum capital requirement (earlier it was Rs. 1,00,000).
- Compulsory use of the words private limited.
- Mentioning the above words in the Memorandum is also compulsory.
Benefits of Private Limited Company
- No unlimited liability for members or directors.
- Pooling of resources means greater availability of resources.
- Perpetual succession means members may come and go but the business continues.
- Risk gets divided among a group of people.
- Greater credibility of the business.
- Preferred by Investors
Steps in Private Limited Company Registration
The following steps are involved in registration of Private Limited Company:
- Name approval by the MCA
- Obtaining Director Identification Number (DIN) as well as the Digital Signature Certificate (DSC) for the directors.
- Incorporation of the company.
- Filing MoA and AoA.
- Registering for PAN & TAN (if company deducts or collects tax at source).
Documents for Registration of Private Limited Company
For a seamless registration process that completes all the above steps, please keep the following documents and details ready:
- Proposed name of company of company - up to three names to be given in order of preference
- Amount of Share Capital and also the proposed ratio for holding the shares.
- A paragraph describing the major line of business of the company.
- City of Registered Office of the company.
- Copy of ownership deed or sale deed (if you own the premises)
- PAN Card copies for directors and also the shareholders (if any).
- Copy of latest utility bills, such as electricity bill or telephone bill as proof of registered office.
- Voter ID, Passport, or Driving License as address proof for directors and shareholders.
- Copy of latest electricity bill, telephone bill, or mobile bill for directors.
- Occupation of directors as well as shareholders.
- E-Mail IDs of all directors and shareholders.
- Phone Numbers of all directors and shareholders.
- Photographs of all directors and shareholders.
- Copy of rent agreement with No Objection Certificate (NOC) from the landlord (if office premise is rented).
- Affidavits for non- acceptance.
- No Objection Certificate (NOC), if there is a change in the original subscribers of MOA.
- Subscriber Sheets of MoA and the AoA.
- PAN Card of the company.
- Proof of Nationality which is needed if the subscriber is a foreign national.
Fee for Private Limited Company Registration
The government fee starts from Rs. 7, 500 and the professional fee starts from Rs. 5500. Please note that the government fee includes the official fee for all formalities such as DSC, DIN, Form Filing, Name Approval, as well as stamp duty charges. Please also keep in mind that stamp duty charges vary from one state to another. Therefore the government fee will change depending on the state you are in. It will also change as per the share capital of your company and also the number of directors you wish to appoint. This is because you will need separate DIN and DSC for each director.
Timeline for Registration of Private Limited Company
It may take anywhere between 20-25 business days for registering a private limited company. This timeline is further subject to government processing and approval time.
Why choose PocketLawyer for Company Registration?
- Experienced and qualified professionals with 12 years of average experience.
- Access to highly qualified professionals anytime, anywhere in India.
- Fixed price. No hidden fees or long-term commitment.
- 100% satisfaction guaranteed. Our money back guarantee makes sure that you get complete satisfaction, every time you choose our services.
What is more?
- Our dedicated support team is always there to help you with any query or issue that you may have.
- Choosing PocketLawyer means the best service, at the best price