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Company Registration

Private Limited Company registration is the most popular form of a “legal structure” for all businesses in India. A private limited company can have a minimum of two members and a maximum of fifty members. The directors of a private limited company have limited liability to their creditors and Banks/Creditors are allowed to sell only the assets of the company (when there is a scenario of default). The creditors do not have the authority to sell the personal assets of directors. Do ensure that your company is registered, for starting a company in India.

Requirement to Start a Private Limited Company

Minimum Two Person

Register your company with at least two persons to act as the initial shareholder & director. The company can have up to 200 shareholders & 15 directors. The same person can become a director as well as shareholders.

Resident Director

One director of the company should be resident in India. A Person is known as a Resident Indian when he/she stays in India for over 120 days during the previous financial year. Citizenship is immaterial for this purpose.

Registered Address

For registration of the company, you need to submit the proof of Registered Office & NOC from the owner. You may register a company on a communication address in case of difficulty; however, within 60 days, the company must have registered address.

Capital Requirement

Invest as per the business's requirement, & as such, there is no prescribed minimum or maximum capital. However, the ROC Fee and the Stamp Duty is calculated on the authorized capital and the location of the registered office is also required.

Benefits of Company Registration

Limited Liability

Shareholders Can Be Held Responsible For Business Losses. The Liability Is Limited To The Unpaid Capital As Subscribed.

Separate Legal Entity

Being creation of law, the company is a juristic and separate legal person, different from its shareholder or director.

Perpetual Succession

The Company Remains In Existence Beyond The Life Of Shareholders. As It Is A Creation Of Law, It Can Be Closed By Law.

Easy Funding

The Private Limited Company Structure Is The Most Suitable For Raising Finance Or Funding From The Angel Investors.

Tax Advantage

Income Tax On Companies Is The Lowest In India; It Is 15% For Manufacturing Units And 22% On All Other Companies.

FDI is allowed

In Most Of The Sectors, The Fdi Is Allowed Under The Automatic Approval Route. A Company Is Ideal To Receive Fdi In India.

Advantages of Company Registration

Settlement of Claims

A registered firm can file suit against third parties. So the rights of registered firms are safeguarded by law. But an unregistered firm or its partner cannot enforce its claim against the third parties or its co-partner.

Protection of Rights

The rights and privileges of new partners are also protected in registered firms. But if any partner fails to register himself, he will incur great risk, because he will not be in a position to file suit for his dues against his firms or his co-partners.

Protection of Property

The property of the retired or deceased partner continues to be liable for the acts firm does after his death or retirement until public notice is served for the change to a registrar, so there is a strong inducement for partners.

Company Registration Details

Good documentation for registration of company plays a vital role & results in faster incorporation of the company. There are three kinds of documents that are used to incorporate a private limited company.:-

Documents for Director/Shareholder

Passport Size Colour Photograph
Self attested Pan Card
Self attested Aadhaar Card

Documents for Address Proof

Telephone
Gas Bill
Electricity Bill
Bank Statement

Documents For Registered Address

NOC From Owner
Download NOC Format.

Proof of Premises

Telephone
Water Bill
Electricity Bill

Legal Forms and Declaration

Consent of Directors in Form DIR-2
Specimen Signature of Directors
Signed Subscriber Sheet