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Private Limited Company Registration

We Corpstore Business Solutions is one of the prestigious company offering private limited company registration in Madurai and Karur. We first understand our client’s requirements and provide guidance according to it. Private limited company is the most popular kind of business organization prevailing in India. It is a business entity run by a small group of people. The startups and businesses with higher goals popularly chose private limited company as their suitable business structure. Section 2(68) of the companies act, 2013 defines a private limited company.

Simply, private limited company is a company having minimum 2 members (except for one person Company) and maximum of 200 members. The company has the right to restrict the share transfers and also prohibits any invitation to the public to subscribe for any securities of the company. Foreign nationals or foreign corporate entities or NRIs are allowed to be Directors or Shareholders of a Company with Foreign Direct Investment.

Types of Private limited company

Based on Capital:

A private limited company can be registered with or without share capital. The capital of the company is provided in the capital clause of the MOA of the company.

Based on Liability:

The liabilities of the members can be limited or unlimited. Usually, private companies are registered with Limited Liability in India. In case of companies with shareholding, member’s liability is limited to unpaid capital on subscribed shares.

One Person Company:

A One Person Company, popularly known as OPC is a type of Private Limited Company. It is a company registered with only one shareholder. This structure benefits such promoter, who does not want to share the ownership rights.

Unique Name of LLP

The proposed name of an LLP should not resemble to any existing company or LLP Name. Further you should also check the trademark registry to ensure that the name does not match with any registered or trademark applied.

Document required for PVT Company

Proposed Director and Shareholder - Indian Citizen:
  • Scanned copy of Pan card and Aadhaar card of directors
  • ID proof copy (Voter ID, Passport, and Driving License) any one is required.
  • Proof for Address any one copy from Bank statement, Electricity bill, and telephone bill, mobile is required
  • Passport size photographs of directors.
Proposed Director and Shareholder - foreign nations:
  • A copy of passport, certified from their home country.
  • A scanned copy of address proof registered officially in home town.
  • A copy of nationality proof (officially certified from a home country). (Note: For further clarification this proof will considerable which depends upon the peculiar country).
  • Two photo copies.
Register Office documents:
  • Verification documents such as Telephone Bill, Gas Bill, Electricity Bill, etc.
  • Documents described under the name of Applicant and should not older than two months.
  • If the Office is rental, then rental agreement is inevitable.
  • If the office is self-owned, a copy of No Objection Certificate (NOC), Scanned copy of property papers, any utility bill and also Scanned copy of Sale Deed/Property Deed.

Features of Private Company:

  • Non Transfer ability of Shares- Companies Act restricts the rights of the Private Limited Company with respect to the transfer of shares.
  • Minimum and Maximum Members- Private Limited Company Registration can be incorporated with 2 Members but not exceeding more than 200 in number.
  • Minimum Director- Such a Company can be incorporated with a minimum of 2 Directors.
  • Separate Legal Entity - The Company is a separate Legal entity and is considered separate from its members which means in any situation even if members are not in a position to continue the business the business can be carried on with new members.
  • Limited Liability - The Liability of the members is limited to the extent of the shares held in the Company and hence the members can’t be held responsible for further liabilities.

FAQ'S

  • Q. How many directors are mandatory for a private limited company?
    A private limited company must have a minimum of two Directors and can have up to a maximum of twenty Directors.
  • Q. How long does it take to incorporate a private Company in India?
    It generally takes 10-15 working days to register Private Limited Company in India. The time is taken for registration depends on submission of relevant documents by the client and speed of Government Approvals.
  • Q. Can a Foreign National or an NRI be a Director of a Private Limited Company?
    Yes, a Foreign National or an NRI can become a Director of a Private Limited Company in India after obtaining Director Identification Number (DIN).
  • Q. Can a Foreign nation Company incorporate a Subsidiary in India?
    Yes, Foreign or holding Companies can incorporate a wholly owned subsidiary in India, as a 100% owned Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.