Private Limited Incorporation
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What do you get on Incorporation?
Certificate of Incorporation
DSC for two directors
DIN for two directors
Authorized capital of Rs.1,00,000/
PAN for the company
TAN for the company
PF and ESI registration for the company
GST registration for the company.
The process of Private Limited Incorporation
Preliminary - Documents Required for Private Limited
Passport Size Photo of proposed Directors
Photo identity proof of proposed directors
Address proof of Directors
Specimen signature for EPFO registration
Proof of Business premises
Self declaration from Directors about their interest in other entities.
RoC forms governing Private Limited Incorporation
SPICe+ Part B represents the section wherein all remaining details required for incorporation of a company has to be entered. Note: SPICe+ Part A can either be submitted individually ONLY for name reservation or can be submitted together with SPICe+ Part B for both name reservation as well as incorporation
A Memorandum of Association (MoA) represents the charter of the company. It is a legal document prepared during the formation and registration process of a company to define its relationship with shareholders and it specifies the objectives for which the company has been formed.
- The objects to be pursued by the company on its incorporation are
- Matters which are necessary for furtherance of the objects specified as main objects
- Share capital of the company.
- Registered office of the company
- Capital of the company
Form INC-34 or SPICe AOA is an eAOA or electronic Articles of Association that is newly introduced by the MCA to simplify company registration in India. Articles of Association of a Company is subordinate to the Memorandum of Association of Company which lays down the rules and regulations for the company’s internal management. The AOA provides for powers to the Company for tis management by the Board and authority of the members to regulate the conduct of the company. Hence, articles of association are regulations of the company binding on the company and on its shareholders.
Form INC-9 is the declaration that the subscribers and directors will have to submit to memorandum of company to show that they are non-convicted under any act and non-guilty of any offence. Also, all of them have been complying with the norms related to document submission with RoC (Registrar of companies).
The AGILE – PRO form is designed to let the promoter get several registrations related with a company’s incorporation in one go. The principal registrations covered by this form are as follows:
- GST registration
- ESI and PF registration
- Professional Tax Registration (mandatory only in some states of India)
- Prospect of opening a bank account.
This form requires the following as attachments:
- Rental agreement , utility bills, NOC for proof of principal place of business.
- Proof of appointment of Authorized Signatory for GSTN
- Proof of Identity of Authorized Signatory for opening bank account – Aadhaar and bank statement.
- Specimen Signature of Authorized Signatory for EPFO
The advantages of a private limited incorporation
Yes, perfectly appropriate! Foreign investors frequently use private limited businesses to make direct foreign investments (subject to FDI Guidelines) in any country, whether through a wholly-owned subsidiary, a joint venture, or other means.
The registrar of companies (RoC) in India requires applicants to meet a few name standards. Some are subjective, which means that admission may be dependent upon the review of your application. However, the more closely you adhere to the following rules, the more likely you will be authorised. However, you must first ensure that the name you wish to use is available.
Provided that you have all of your documents together, it should take no longer than 15 days. This, however, is dependent on the queue of applications before the concerned registrar.
No, the entire process of incorporating a new business is conducted online. You wouldn’t have to show up in person because all documents are filed electronically. All relevant documents and paperwork must be digitised and submitted to us.
Each director must provide identification and proof of address, as well as a copy of their PAN card and passport (if they are Indian nationals) (for foreign nationals).The registered office premises’ owner must produce a certificate of no objection.
Yes, as long as the annual compliance criteria are completed, the private limited company will survive. If you do not satisfy the standards, your registration will lapse until it is completely deleted from the register.
Yes, regardless of revenue, a private limited company must hire an auditor.Indeed, an auditor must be retained within 30 days of incorporation. Compliance is crucial for a private limited business, as penalties for non-compliance can reach lakhs of rupees and result in directors being blacklisted.
These documents detail your company’s rules, vision, and mission, as well as the specific business and the duties and obligations of the shareholders and directors.
Yes, a private limited company must have at least two directors. The maximum number of members is 200. If you are the sole proprietor of the company, you can register as a one-person corporation.
There is no minimum capital required for forming a private limited company.
Yes, a salaried individual may be appointed to the board of directors of a private limited, limited liability partnership, or open-ended private limited company. An examination of the employment agreement is important to determine whether such limits are authorised. Employers are frequently quite not content with their employee serving as a director of another company.
Yes, the director’s / member’s residence address may be used to register the business. It is necessary for you to submit a copy of your most recent utility bill.
Yes, it is an excellent idea to register a family member as a member / shareholder. This can be changed at any time, or the directors’ shares transferred.
Yes, NRIs, foreign citizens, and foreign firms are permitted to establish enterprises and invest in India providing they follow the RBI’s Foreign Direct Investment guidelines. However, Indian incorporation laws require that the company’s Board of Directors include at least one Indian national.
A foreign national or a non-resident Indian (NRI) can be a director of a private limited company. He or she will need to apply to the Indian RoC for a DIN. Additionally, they can hold a majority stake in the business. As long as the board of directors includes at least one Indian resident.
The Terminology Glossary
The act of adding, removing, or modifying existing terms in the articles of incorporation of a domestic corporation.
The shareholders elect the corporation’s governing board. The board of directors is responsible for the appointment of officials as well as the management and control of the corporation.
The name of the paperwork that must be filed in many states in order to incorporate a business. Articles of incorporation are another term for incorporation articles.
-A corporation’s shareholder, limited partner, or member is frequently immune from the company’s duties and liabilities.
The DSC (Digital Signature Certificate) is a tool that certifying bodies provide that enables electronic document signing. Because all required documentation is electronic.
Director’s Identification Number
The act of establishing or establishing a corporation under the laws of a given jurisdiction.
A process by which a company can gain exclusive use of a company name for a set period of time.
The statutory address of a corporation. In states that mandate the appointment of a registered agent, this is often the registered agent’s address.