What is a Private Limited Company Registration
A private limited company, a privately held entity with limited liability, holds a prominent position among the nation’s preferred business structures. Its popularity can be attributed to the array of advantages it offers, including limited liability protection, ease of formation and maintenance, and its status as a distinct legal entity.
Various types of private limited companies
- Company with Limited Guarantee: The amount of guarantee specified in the Memorandum of Association limits the liability of members, invoked solely during winding up.
- Firm Limited by Shares: Shareholders' liability is capped at the nominal share amount detailed in the Memorandum of Association.
- Unlimited Companies: In unlimited companies, members assume unlimited personal liability for the company’s debts and liabilities, but retain distinct legal existence protecting them from being sued personally.
Prerequisites for Registering a Company
- Board of Directors and Members: The Companies Act of 2013 stipulates a minimum of two directors and 200 members. Directors must hold a Director Identification Number (DIN) issued by MCA, and at least one must be an Indian resident (182 days minimum in previous year).
- Firm Name: The company name must clearly indicate its principal activity and comply with naming guidelines.
- Address for the Registered Office: After registration, the company must provide a permanent registered office address for official communication and document storage.
Registering a Company: A Step-by-Step Guide
- Obtain a DSC (Digital Signature Certificate): Directors and shareholders must obtain a DSC by submitting documents such as passport-sized photo, PAN, Aadhaar, phone number, and email address. Foreign nationals must provide notarized and apostilled copies.
- Director Identification Number (DIN): Each director must have a DIN before registration can proceed.
- Company Name Reservation (SPICe+ Part A): Submit SPICe+ Part A form to reserve the company name, suggesting two options.
- Company Details Submission (SPICe+ Part B): Fill Part B with registered office address, directors’ details, stamp duty, PAN, TAN, and attachments.
- Prepare and Submit Incorporation Forms (SPICe+ MOA and AOA): Include MOA and AOA with digital signatures, plus AGILE-PRO-S form for GST, EPFO, ESIC, and bank account.
Certificate of Incorporation
Once the document authentication procedure is complete, the MCA will grant the Certificate of Incorporation (COI) along with the Company Identification Number (CIN), visage, and TAN.
Documentation Requirements:
- Indian citizens: PAN card (self-attested), passport-size photo, Aadhaar Card, and proof of identity and address.
- International citizens: Legalized passport photo, current passport, and address verification.
Documentation for the Registered Office:
Provide necessary documents such as proof of business address, copy of rent agreement (if applicable), and the owner’s No Objection Certificate (NOC).
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FAQ’s for Private Limited Company Registration
What conditions must be met in order to form a Private Limited Company?
To form a private limited company, the following prerequisites must be fulfilled:
- All directors must have a Director Identification Number (DIN).
- Minimum two directors and two shareholders required.
- Membership count between 2 and 200.
- Directors/shareholders must attach a PAN copy; NRIs must include a passport copy.
