Private Limited Company

A private limited company(PLC) is one of the most common types of legal entities in India. It is a separate legal entity that becomes an artificial legal person and acquires legal independence on incorporation. It requires a minimum of 2 Directors and 2 Shareholders with one of the Directors being an Indian Resident and Indian Citizen as per the Companies Act,2013. Shares held by a private limited company cannot be publicly traded. A PLC can have up to 200 shareholders and appoint up to 15 directors. It can be registered in a span of 10 days at a minimal cost of Rs.7999 onward.

 

●     No of members

●     Limited Liability

●     Perpetual succession

●     Independent legal entity

●     Tax efficiency.

●     More trustworthy when raising capital.

●     Well-organized and hence easy to maintain.

●     Better in the long run.

 

●     Startups looking to raise capital

●     Business in the service industry

●     Tech-related business

●     A company dealing with a global clientele.

 

 

The following papers are essential for the registration of a  private limited company:

●     PAN cards and passports, for Indian and foreign directors, respectively, for identification.

●     Identity verification documents (a Driving license, voter ID card, or Passport or Aadhar Card).

●     Address verification documents (Bank statements or the property's utility bill or Phone Bill for location credentials).

●     A rental agreement that is registered or notarized.

●     The property owner's NOC irrespective of the property owner.

●     A duplicate of the property deed or sale deed (for an owned property).

 

Once you've decided on a name for the business, take the following actions:

1.    Request the name's availability.

2.    Apply for DSC first (Digital Signature Certificate).

3.    Register the private limited corporation by filing the EMoa and EAOA in step.

4.    Request the company's PAN and TAN.

5.    RoC will issue certificates of incorporation with PAN and TAN.

6.    Establish a current bank account for the business.

 

 

●     For two Directors, a DIN and DSC

●     Creating the MoA and AoA

●     Company incorporation certificate, registration costs, and stamp duties

●     Company PAN and TAN