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Private Limited Company Registration

Not tomorrow, but today, register your private limited company just with CorpBiz specialized professionals, through 100% online process quick and affordable service.

  • Analysis of documents and information provided
  • Applying for Digital Signature Certificate
  • Checking Name availability
  • Drafting of MoA, AoA & other expected documents
  • Name reservation application under SPICe +
  • Filing company registration application
  • DIN allotment application
  • Application for PAN and TAN of company
  • Government processing time
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Overview of Online Private Limited Company Registration in India

A Private Limited Company is a privately maintained small business existence, which is one of the highly recommended means to start a business in India. The Companies Act 2013 governs private limited company registration in India.

While, minimum 2 shareholders are required to start a private company, while the higher limit of members are 200 as per the Companies Act, 2013. If a private limited company faces financial risk, its shareholders are not subject to sell their personal assets, i.e. they ought to have limited liability.

For online company registration, there must be a least of 2 directors while maximum 15 directors can be appointed in a company. Proposed director must have attained age of 18 years. A foreign national can also become a director of private limited company in India.

There is no minimum paid-up capital required for a private limited company registration. Every private limited company must use "pvt.ltd." after their name.

A private limited company has never-ending existence. A private limited company holds on existing even in the case of death or bankruptcy of its Members.

A private limited company does not have any relationship with the public; they aren't permitted to ask for any collateral from the public or public sectors. In a private limited company, people are not entitled to transfer shares, which protect takeovers of private limited companies from big enterprises.

Company Registration

Benefits - Why one should go for Private Limited Company Registration in India?

Starting a private limited company offers many advantages. Some of them are as follows:

  • A registered private limited company increases the credibility of your business.
  • Help owners from personal liability and protects from other risks and losses.
  • Draws more customers
  • Ease in obtaining bank credits
  • Offers limited liability to preserve your company’s assets
  • Greater funds supplement and more attractive stability
  • Enhance the potential to grow big and expand
Private Limited Company Registration benefits

Now, let’s discuss some of the benefits in detail;

  • Limited Liability

    The responsibility of the members of a private limited company is restricted to their share only as the private limited company is a separate legal entity.

  • Separate Legal entity

    A private limited company is a separate legal entity which posses all the rights to sue or to be sued. It acts an artificial person which can buy a property on its own name.

  • Credit Availability

    A private limited company can obtain funds from the debentures as well as the stockholders. Registered Private limited company is considered as a corporate entity that attracts various angel investors and venture capitalists that helps them to expand and raise their funds for the growth of their business.

  • Perform International

    The private limited companies supports Foreign Direct Investment which other type of firms require appropriate licensing/Liaising and approval from the administration for foreign investments.

  • Perpetual Existence

    A private limited company has a lifelong existence. Private limited companies are considered as separate legal entities and are separate from the existence of their owners which means they cannot be dissolved or end because of the death, retirement or insanity of any of their member/ director/ shareholder.

  • Enhanced Value in Market

    A registered private limited company is considered more trustworthy as compared to the non-registered ones. Information regarding the registration of private limited company can easily be obtained from the website of Ministry of Corporate Affairs. Vendors, suppliers and investors trust them over the other business structures. As a result, it enhances the brand value of the company amongst the customers and other investors and suppliers.

  • Ease in Transfer of Ownership

    It is quite easy to transfer equity to new members and issue fresh shares in private company.

What are the basic requirements of Online Private Limited Company Registration in India?

There are few requirements to be known before initiating a Private Limited Company in India;

  • The private limited company must have a unique name which should not be same as any other registered company and trademark.
  • It is mandatory for a private limited company to have a minimum two directors.
  • As well as it is necessary to keep in mind that the private limited company should have minimum two shareholders.
  • All directors & members of private limited company should have digital signature certificate which will be used to register a private limited company.
  • There is no minimum capital required for initiating a private limited company.
  • The process of online company registration is quite simple; make sure that you have a unique name for your company which will surely help you with quick company registration.
  • You must avoid any offensive name for your private limited company registration.

Company Registration Filing Form - Manual to New Web-based SPICe + Form

SPICe Plus serves many requirements like name reservation, incorporation, DIN allotment, issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra) and Opening of Bank Account and one can also acquire the GSTIN via SPICe + form.

Part A:

Name Reservation (Applicable to New Companies only)

Part B:
  • Company Incorporation
  • Application for DIN
  • PAN Application
  • TAN Application
  • GSTIN Application
  • EPFO Registration
  • ESIC Registration
  • Opening of Bank Account for the Company
  • Profession Tax Registration (only for Maharashtra)

Documents required for Online Company Registration in India through submitting the SPICe+ form

  • The Articles of Association
  • Memorandum of Association
  • Declaration by the subscribers and by the directors
  • A confirmation for the address of the office
  • Two months utility bills copy
  • Certificate of incorporation of the Outer Country body corporate [If applicable]
  • A resolution passed by the global Company [If applicable]
  • A recommendation declared by the promotional Company [If applicable]
  • The interest of the directors from other entities [If applicable]
  • Nominee’s assent
  • Identity proof and residential address of the subscribers and the nominees
  • Identity proof and residential address of Applicants
  • The Declaration/Resolution of the unregistered companies
  • Any other document [If required]

For AGILE-PRO:

  • Proof of principal place of business
  • Evidence of appointment of Authorized Signatory for GSTIN
  • Either of the documents– Letter of Authorization/Copy of Resolution passed by BOD
  • Managing Committee and Acceptance Letter
  • Proof of identity of Authorized Signatory for the opening of a bank account
  • Proof of address of Authorized Signatory for the opening of a bank account
  • Specimen Signature of Authorized Signatory for EPFO

Declaration

The declaration in form 'INC-9' of the subscribers and the directors obligatorily be auto-generated in PDF format and presented electronically. The aspirant has to provide the recommendation along with a certification recommended by a professional, such as Company Secretary, Chartered Accountant and Cost Accountant. Although, if the total number of directors or subscribers is more than 20 or do not possess the above said obligation.

Documents that can be used as address proof

Documents required for Company Registration

Documents that can be used as a residential proof

Documents required for Online Company Registration

List of assistance which will be offered by the Online Company Incorporation Form i.e SPICe+ form:

  • Reservation of Name (Run discontinued for Company Registration)
  • Director Identification Number (DIN) Allotment
  • Incorporation of Company
  • PAN Issuance for the Company
  • Issue of TAN
  • Registration of Company as an Employer with EPFO
  • ESIC Registration for the Company
  • Profession Tax Registration for the State of Maharashtra
  • Bank Account Opening.
  • Company Registration as Tax Payer in GST

What is Private Limited Company Registration Process in India? - Company Registration Online

SPICe+ form is said to dedicate ten services via three central govt ministries and departments which are Ministry of Labour & Department of Revenue, Ministry of Finance and Ministry of Corporate Affairs. The new SPICe Plus form is said to save time and has been incorporated for all the new companies from February 23. The other forms that need to be filed along with SPICe+ are AGILE-PRO, SPICe+AoA and SPICe+MoA.

  • Click ‘SPICe+’ placed under ‘MCA Services’.
  • After that Choose ‘New Application;
  • Existing application, you can prefer ‘Existing Application’, fill in the application number with the proposed or approved name. Click ‘Type of Company’
  • Click ‘Class of Company’, and the ‘Category of Company’'
  • Click ‘Sub-Category of Company’
  • Next, you have to specify the ‘Main division of industrial activity of the Company’
  • Next, you have to mention the ‘Main division of industrial activity of the Company’
  • Next you have to provide details of the ‘proposed or approved name’. Click the ‘Auto-check’ to in accordance with the rules administering the name. Submit the ‘Part A’ for reservation of name or proceed with the incorporation.
  • Part B has different sections for ‘check form’ for each section. The details required for registration are as follows:

    1. Location of the registered office of the company

    2. Proposed directors and subscribers

    3. Resources of the company

    4. Apply for tax registrations such as PAN and TAN

  • Carry out a ‘pre-scrutiny’ check. A confirmation is presented upon successful submission of the form.
  • Download the PDF of Part B proposed for affixing the DSC and for filling up any linked forms along with Part B. The forms linked to SPICe+ are AGILE-PRO, SPICe+MoA and SPICe+AoA, URC-1 and INC-9. Part B of SPICe+ and linked forms can then be uploaded on the MCA portal. A Service Request Number is generated for making a payment towards private limited company incorporation. Once the payment is made successfully, the forms would be processed.
  • In a case where the forms need resubmission for any errors being flagged upon processing, the SPICe+ form has to be resubmitted in the same manner.

How we can help you with Private Limited Company Registration?

How we can help you with Private Limited Company Registration

Post Private Limited Company Incorporation Formalities

Post Private Limited Company Incorporation Formalities
  • Corporate Stationery

    The Company must obtain the corporate stuff to use in company compliance matters.

  • Name Board

    Companies are required to affix the name of the Company and location of its registered office outside each office.

  • Letterhead

    Companies must publish the name and registered office address of the Company on all letterhead, receipts, announcements and other official records of the Company.

  • Share Certificates

    Companies must address share certificates to all the contributors within two months from the date of establishment.

  • Statutory Register

    All companies need to maintain a statutory register for the Company containing information like a register of members, list of directors, charges, debentures and other matters about the shareholders and administration of the Company.

  • Appointment of Auditor

    Subsequent to company incorporation, it requires the Board of Directors to designate the first auditor of the Company, a Chartered Accountant within 30 days of incorporation.

Business Entities Comparison Guide

Proprietorship

  • A maximum of 1 member is needed;
  • The entity is not considered as a separate legal entity;
  • The liability of members is unlimited;
  • The Registration of entity is not compulsory;
  • The transferability option is only as an individual;
  • The profit and losses of the business should be reported in the personal income tax return of the sole proprietor. The business itself is not taxed.
  • The Income Tax Return is filed with the Registrar of Companies.

Partnership Firm

  • A minimum of 2 and maximum of 20 members are needed;
  • The entity is not considered as a separate legal entity;
  • The liability of members is unlimited;
  • The Registration of entity is optional. The entity can be registered under the Partnership Act, 1932
  • The transferability option is available only up to 30% of the Company profit only.
  • The Partnership Firm is liable to pay income tax at the rate of 30% of Company profit.
  • The Income Tax Return is filed with the Registrar of Companies.

LLP

  • A minimum of 2 members are needed. There is no limit on the maximum number of members;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited;
  • The Registration of entity is done under MCA;
  • The transferability option of LLP is 30% of Profit Plus CESS and Surcharges applicable;
  • The LLP is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable;
  • The Income Tax Return is filed with the Registrar of Companies.

Private Company

  • A minimum of 2 and maximum of 200 members are needed;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited to the extent of share capital;
  • The Registration of entity is done under MCA.
  • The transferability option of Private Company LLP is 30% of Profit Plus CESS and Surcharges applicable;
  • A Private Company is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable.
  • The Income Tax Return is filed with the Registrar of Companies.

OPC

  • Only 1 member is needed;
  • The entity is considered as a separate legal entity;
  • The liability of members is limited to the extent of share capital;
  • The Registration of entity is under MCA and Companies Act, 2013;
  • The transfer of OPC is allowed to only one person;
  • An OPC is liable to pay income tax at the rate of 30% of Profit Plus CESS and Surcharges applicable.
  • The Income Tax Return is filed with the Registrar of Companies.

Frequently Asked Questions

SPICe is an e-form and SPICe+ is an integrated Web form providing ten services by 3 Central Govt. Ministries & Departments.

Application Number refers to a system-generated number given to an applicant for Name reservation/Company Incorporation.

Yes. However, a fee of INR 1000 becomes payable if applied separately.

Yes. Registration for EPFO and ESIC will be necessary for all new companies incorporated w.e.f 23rd February 2020 and no EPFO & ESIC certification will be separately issued by the respective centers.

Presently ICICI bank has been integrated with SPICe+ for opening a Bank account.

To ensure that the size of the copied PDF document is within the permissible size limits, it is advised that scanning should be done in 'black-white' mode at 200 dpi resolutions.

Use of Debit Cards/ Credit cards and Internet Banking is the most prevalent. It is an entirely secure process.

The process of e-Filing is entirely secure. Online Inspection of documents is allowed strictly by the provisions of the Companies Act, 2013 on payment of a prescribed fee.

Once filed, the e-Form cannot be rectified. You may, however, re-submit the e-Form, if the concerned MCA office has marked the status of your SRN as 'Re-submission'.

A Private Limited Company cannot float shares to the general public.

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