Overview of Company Registration in Delhi
Delhi has now become the start-up capital of India. It is quite surprising that even after the outbreak of COVID 19;over 5000 recognised start-ups were added between April 2019 – December 2021 in Delhi, according to the Economic Survey 2021-22. The industry department of Delhi coordinates with 30 different Delhi agencies to give approvals to new business. Around460 compliance have been modified or amended in the past five years.
Delhi is one of the major commercial centres in northern India because of the existence of various industries such as telecommunications, information technology tourism, banking media etc, which is a reason for the rapid increase in the entrepreneurial spirit in Delhi. Apart from this, the city has the largest spice market in Asia.
Benefits of Private Company Registration in Delhi
Private Limited Company Registration in Delhi provides the following benefits
- Provides Wide Legal Capacity: A company is an artificial person that has a separate legal entity. This helps in proving a wide legal capacity to the company.
- Enhanced Credibility: When a company is registered in Delhi, it can function better and more efficiently, improving its reputation in the market and helping it enhance its credibility.
- Customer Retention: When a company can maintain its consistency in terms of the quality of the services and products, it leads to a better relationship with its customers, resulting in customer Retention.
- Perpetual Succession: When a private company is registered in Delhi, it attains perpetual succession, which means that the company will remain active forever and won’t be affected by the death of any company member.
- Limited Liability toward Debts: The liability of a shareholder is just limited to his share in the company, so if there is a situation of paying off debts, the shareholder liability is only limited to the face value of the shares he purchased.
- Easy Transfer of shares: A shareholder of a company registered in Delhi can easily transfer his shares from one legal entity to another.
- Ease in raising funds: A company registered in Haryana can raise its equity funds from angel investors, which makes registering a company extremely beneficial.
Requirements for Private Limited Company Registration in Delhi
The eligibility criteria for registering a Private Limited Company in Delhi is as follows-
Members: The Companies Act, 2013 states that a minimum of 2 shareholders are required to start a Private Company; however, the maximum limit of members in a Private Company is 200. If a private limited company confronts financial risk, the shareholders should have limited liability as they are not subject to selling their personal assets for the cause.
Directors: A minimum of two directors and a maximum of 15 directors can be appointed in a company for company registration online. Moreover, the proposed director must have attained a minimum age of 18 years. Any foreign person can also become a director of a private limited company in Delhi.
Minimum Paid Up Capital: The minimum paid-up capital is not essential for registering a Private Limited Company in Delhi However; every Private Limited Company should use "Pvt. Ltd" after their Company’s name.
Unique Name: The private limited company should have a unique name that isn’t similar to any other registered company and trademark. It is better to avoid any offensive name for your proposed company before registration.
Essential Documents Needed for Company Registration in Delhi
The following documents are essential for the registration of a private limited company in Delhi
- Documents for Private Company Registration ThroughSPICe+ Form:
- Articles of Association
- Memorandum of Association
- Declaration by the Subscribers
- Declaration by the Directors
- Confirmation of Office Address
- Copy of 2 months Utility Bills
- Copy of Proof of incorporation of a foreign body corporate [If applicable]
- Recommendation declared by the "Promotional Company" [If applicable]
- Copy of a Passed Resolution by the International Company [If applicable
- Proof of interest of the directors from other Legal/Political body [If applicable]
- Nominee’s assent in prescribed Format
- Residential address proof & Identity proof and of the nominees and the subscribers
- Identity proof and residential address of Applicants
- The Resolution/Declaration of the Unregistered Company/ies
- Any other document [If required]
- Documents for Company Registration in Delhi through AGILE-PRO:-
- Copy of Proof of Principal Place of business operation
- Proof of appointment of Authorized Signatory for Goods and Services Tax Identification Number
- Either of the documents–Copy of Resolution passed by BOD/Letter of Authorization
- Proof of resolution passed by the Managing Committee and Acceptance Letter
- Identity Proof of Authorized Signatory for the opening of a bank account
- Address proof of Authorized Signatory for the opening of a bank account
- Specimen Signature of Authorized Signatory for EPFO
- Documents Company Registration in Delhi for Declaration in form 'INC-9':-
The declaration of the directors and the subscribers are presented electronically in auto-generated in PDF format. The applicants for Company Registration have to provide the recommendation and a certification authorized by a professional, such as Chartered Accountant, Company Secretary, and Cost Accountant.
Private Limited Company Registration in Delhi : Procedure
The process for Private Limited Company Registration in Delhi is given below:
- Apply for DSC, DIN & Name Approval: Firstly it is essential to obtain Digital Signature Certificate (DSC) for all the directors, along with Digital Identification Number (DIN) & Name Approval. DSC can be easily obtained from the nearest Certifying Authorities or CAs with self-attested copies of their identity proof. DIN is applied in the SPICe Form along with the details of the Director. The Name Approval can be obtained through filing Form INC -32.
- File the Application for Registration with the Ministry of Corporate Affairs (MCA): After obtaining the Digital Signature Certificate (DSC) for all the directors, along with Digital Identification Number (DIN) & Name Approval, the applicant must file the registration application with MCA and the essential documents.
- Issue of the Incorporation Certificate: After filing the application along with the necessary documents, the Registrar of Companies (ROC) shall inspect and verify the application and issue the Certificate of Incorporation; after the verification
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