Private Limited Company

A Private Limited Company is a legal entity formed by shareholders, with limited liability and restrictions on share transfers, ideal for small to medium-sized businesses.

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    A private limited company is a firm that is privately owned by a small number of owners. The owners benefit from limited liability for the company's obligations under this arrangement, protecting their personal assets from possible losses in the case of business collapse or bankruptcy. This type of organisation is typically used by small and medium-sized businesses, which are easily recognised by the abbreviation "Ltd." after their names. Private limited businesses are subject to particular legal requirements and restrictions, encompassing restrictions on the number of shareholders and rules governing ownership transfers.

    Under company law, a Private Limited company is a business entity that offers limited liability and requires a minimum of two and a maximum of 200 members. Despite being a separate legal entity, a Private Limited company enjoys the benefits typically associated with partnerships, such as flexibility and the ability to pool capital from diverse sources with varied skills.

    These are the necessary conditions in order to start a business in India:

    • Two Directors: A resident and Indian national is required to serve as at least one of the directors.
    • Two Shareholders: In addition to being shareholders, directors may also be shareholders.
    • India-based registered office: The company must have a registered office there.
    • Foreign Direct Investment (FDI): In India, most industries permit 100% FDI, and foreign shareholding in private limited companies is not subject to any restrictions. As a result, a lot of foreign subsidiaries decide to establish private limited corporations in India.

    Required Documents

    For Board Members and Shareholders

    A copy of a self-attested PAN card

    A self-attested copy of one of the following: a voter ID, a passport, or a driver's licence

    A self-attested copy of an address proof bearing the director's name (such as a recent bank statement or utility bill, such as a cell bill, water or electricity bill).

    A passport-size picture

    For Registered Office

    Rent Agreement (Notarized: For Rented Property) for Registered Office

    In the event of owned property, a sale deed or property deed in English

    The property owner's certificate of no objection

    The most recent electricity, phone, cell phone, bank, and gas bills.

    Registration Process

    Step 1: Getting DSC and DIN

    The suggested directors must get a Digital Signature Certificate (DSC) and Director Identification Number (DIN) in order to start the Private Limited Company's registration process. These are required in order to file the paperwork for company registration. Only a few scanned papers and the necessary information are needed for the straightforward procedure. The form will be filled out and submitted online with assistance from one of our professionals. Usually, it takes one to two days to get DIN and DSC for the suggested directors.

    Step 2: Name Approval

    The Ministry of Corporate Affairs (MCA) must receive a minimum of one and a maximum of six proposed names for the firm during the second step. The acceptance of the selected name is contingent upon its availability, compliance with the naming conventions, and the speed at which the MCA is processed. Given these considerations, Name Approval can typically be acquired in 2 to 3 business days.

    Step 3: Electronically drafting the MOA and AOA

    The third phase involves electronically drafting the Memorandum of Association (MOA) and Articles of Association (AOA) using the Spice MOA (INC-33) and Spice AOA (INC-34) forms. This procedure usually takes two to three days to finish.

    Step 4: Registering your company

    The incorporation procedure is continued by sending the Spice Form INC-32 along with the associated forms Spice MOA (INC-33) and Spice AOA (INC-34) to the Ministry of Corporate Affairs (MCA) after the e-MOA and e-AOA drafting is complete. Depending on how quickly they process the paperwork, the MCA normally approves the incorporation request in 5 to 7 days. It's vital to remember that SPICe must be filed along with the required papers 49A and 49B. The application will be termed "Invalid" if these forms are not submitted within two days of filing SPICe (INC-32).

    Opening of a Bank Account

    After registering the company, it is essential to open a bank current account in its name and deposit the subscription money within 180 days. Failure to comply with these instructions may result in penalties and a delay in obtaining the commencement of business certificate.

    To create a bank account for a private limited corporation, the following documents are required:

    • Certificate of Incorporation of the Company
    • Directors KYC Records
    • Board Resolution Authorising the Directors to Open a Bank Account
    • Address Verification of the Company

    Private Limited Company Registration Costs
    Private Limited Company

    ₹ 2,999 / Only

    Plus Government Fees, Stamp Duty Extra.

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      Why Choose FilingMan

      For Private Limited Company Registration?

      Choosing FilingMan for your Private Limited Company (PLC) registration offers a comprehensive and strategic approach to establishing a robust legal entity. With a deep understanding of the intricacies involved, FilingMan guides you through the entire registration process, from drafting the memorandum and articles of association to coordinating necessary documentation and liaising with regulatory authorities. By partnering with FilingMan, you ensure that your PLC registration adheres to legal norms, maximizing your business's credibility and potential for growth.

      FilingMan's expertise extends beyond paperwork; they become your dedicated partner in structuring your PLC for success. Their experienced team ensures compliance with legal requirements, helping you navigate complex regulatory landscapes and minimizing potential hurdles. By choosing FilingMan, you gain a reliable ally that not only simplifies the registration process but also positions your PLC for future opportunities, empowering you to focus on your business's core operations and strategic objectives

      Benefits of Private Limited Company Registration

      Liability Limitation

      Owners of a private limited company are shielded from the possibility of losing their personal assets in the case of financial difficulties and collapse.

      Helpful for Registering Start-ups in India

      Number of advantages are provided by the Start-up India scheme, such as chances to collect money and financial aid for trademark registration.

      No minimum capital requirement

      A minimum amount of paid-up capital is not necessary to start a Private Limited Company.

      Easy Ownership Transfer

      A private limited company makes it easier to subscribe to or cancel membership in a corporation and transfer ownership.

      Sale of the business

      A business corporation's value is primarily determined by its operations and assets rather than by its individual owners. As a result of its inherent transferability, selling a private limited corporation becomes relatively simpler.

      Continuous Existence

      The Company will continue to exist until it is properly dissolved in accordance with the applicable laws.

      Getting Funds

      In contrast to other business forms, a company may choose to offer shares to the public and take deposits from the public under the 2013 Companies Act, which makes it simpler to raise capital.

      Independent Property

      A firm has the legal right to independently own its funds and other assets because it is a separate legal entity. It is crucial to understand that a company's assets do not belong to its shareholders.

      Superior Governing

      Companies must follow by a number of different regulatory procedures throughout their governance, in addition to the rules established in the Companies Act of 2013.

      Taxation

      In comparison to other types of business organisations, companies usually benefit from reduced tax rates and suitable tax incentives.

      The Ability to Sue

      A firm has the ability to file lawsuits in its own name and may also be the target of litigation brought by third parties because it is a recognised legal entity.

      Integrity and credibility

      A Private Limited Company gains from greater openness because its data is available through a publicly searchable database. This aids in gaining the public's trust and raising the company's credibility.

      Private Limited Company Registration FAQ'S
      What is a Private Limited Company (PLC) and why should I consider registering one with FilingMan?
      A PLC is a business structure that provides limited liability protection to its shareholders while allowing for flexible operations. Registering a PLC with FilingMan ensures expert guidance throughout the process, from documentation and compliance to strategic structuring, setting a solid foundation for your business's growth.
      How does FilingMan assist in the Private Limited Company registration process?
      FilingMan offers end-to-end support, helping you draft the necessary documents, such as the memorandum and articles of association, and guiding you through regulatory filings. Their experienced team ensures accurate documentation, smooth submission, and adherence to legal requirements.
      What documents are typically required for Private Limited Company registration, and how does FilingMan manage the documentation process?
      Required documents include identity and address proofs, PAN cards, and incorporation forms. FilingMan's experts assist in compiling, verifying, and organizing these documents, ensuring accuracy and compliance with regulatory standards.
      How does FilingMan's expertise in Private Limited Company registration benefit me in the long run?
      FilingMan's proficiency ensures your PLC is registered correctly and efficiently, setting the stage for long-term success. Their knowledge of legal nuances and compliance matters prevents potential delays or errors, positioning your company for credibility, growth, and potential funding opportunities.
      Why should I choose FilingMan for my Private Limited Company registration?
      FilingMan's comprehensive support goes beyond the registration process. By choosing FilingMan, you gain access to a partner that simplifies complex procedures, maximizes documentation accuracy, and empowers your PLC to navigate the business landscape with confidence, ensuring your company's legal foundation is strong and secure.