What is Private Limited Company Registration?
A Private limited company or PLC is the most popular corporate entity among small, medium and large businesses in India due to various advantages.
- Ideal for Startups & Growing Business
- Easy to Get Funding, Raise Venture Capital Fund
- Has Limited Liability
- Tax Advantage
Private Limited Companies are the most preferred option for any startup that is looking at scaling up by external funding as it is very easy in Private Limited Company to issue fresh equity shares in lieu of funding received.
Ministry of Corporate Affairs or MCA is the governing body in India which regulates all Private Limited Companies in India. The Companies Act of India is now called as Companies Act, 2013.
All you need to do is register the directors with Ministry of Corporate Affairs (MCA), register the name of the company and submit the company incorporation documents, such as Memorandum of Association (MoA) and Articles of Association (AoA). A private limited company has a minimum of two members and a maximum of 200 members. There is no requirement of any minimum subscription amount or share capital. The entire process takes 1-2 weeks, depending on the document readiness.
Minimum Requirements for Private Limited Company Registration
Directors:
A private limited company needs to have atleast 2 directors out of which one must be a resident of India.
Capital Contribution:
There is no minimum amount of capital requirements for a company, while authorised capital should be minimum of Rs 1 Lakh.
Registered Office
The company needs an address for communication. That may or may not be a commercial space.
Documents check List for Private Limited Company Registration
A. From Members and Directors (Self-attested)
- PAN Card of Members and Directors.
- Aadhar card.
- Election ID Card / Passport.
- Scan copy of Photographs.
- Latest Bank statement not older than 30 days.
B. For Registered office
- Scanned copy of Latest Bank Statement/Telephone /Electricity or Gas Bill
- Bill Scanned copy of Notarized Rental Agreement in English
- Scanned copy of No-objection Certificate from property owner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
