Online Private Limited Company Registration in India
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Online Pvt Ltd Company Registration in India
Private Limited Company – Overview
In India, the process for registering a private limited company is governed by the Companies Act of 2013 and administered by the Ministry of Corporate Affairs (MCA).
A private limited company is a type of business entity that is commonly used in India. It is a form of incorporated business that offers its owners limited liability protection, meaning that their personal assets are generally not at risk if the company incurs debts or is sued.
Pvt Ltd Company Registration Process
The process for registering a private limited company in India generally involves the following steps:
- Choose a company name: It is necessary to choose a unique company name that is not already in use and that meets the requirements set out in the Companies Act.
- Prepare the necessary documents: This includes the memorandum of association (MoA) and articles of association (AoA). These documents outline the rules and regulations for the company and its management.
- File the necessary forms with the MCA: This includes the INC-29 form, which is used to apply for company registration. Other forms may also be required, depending on the specific circumstances of the company.
- Obtain the necessary approvals and licenses: Depending on the nature of the business, it may be necessary to obtain approvals or licenses from other regulatory agencies, such as the Ministry of Environment and Forests or the Food Safety and Standards Authority of India.
- Register the company: Once all necessary approvals and licenses have been obtained, the company can be registered with the MCA.
It is important to carefully follow the necessary steps and meet all requirements in order to successfully register a private limited company in India. It may also be helpful to seek the advice of a legal professional or other expert to ensure that the process goes smoothly.
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Documents Required for Online Pvt Ltd Company Registration
- ID Proof of all the Directors – Passport/Voter ID/Adhaar
- Passport size photogragh of all the directors
- Address Proof of all the Directors – Electricity Bill/Latest Bank Statement/Mobile Bill) (not older than 2 months)
- Pan Card of all the Directors
- Address proof of the Registered Office – Rent Agreement (duly Notarized)/Bank Statement/Electricity Bill/Gas Bill on the name of Company /sale deed/property deed (in case of owned property)
- No-Objection Certificate from the property owner (in case of Rented Property)
Benefits of Pvt Ltd Company Registration
There are several benefits to registering a private limited company in India, including:
- Limited liability: The liability of shareholders is limited to their share capital. This means that shareholders are not personally responsible for the debts and obligations of the company.
- Separate legal entity: A private limited company is a separate legal entity from its shareholders and directors. This means that the company can enter into contracts, own assets, and incur debts in its own name.
- Improved credibility: Registering a private limited company can improve the credibility of a business and make it more attractive to potential customers, suppliers, and investors.
- Easier to raise capital: Private limited companies can raise capital through the sale of shares to investors. This can be a more attractive option than borrowing money from banks or other financial institutions.
- Perpetual succession: A private limited company has perpetual succession, which means it continues to exist even if the shareholders or directors change. This can provide stability and continuity for the business.
- Ease of transfer of ownership: The ownership of a private limited company can be easily transferred by transferring shares. This can be a more straightforward process than transferring ownership of a sole proprietorship or partnership.
Private Limited Company Registration with Advisource
Advisource, your trusted legal service provider, offers an affordable company registration process in India. The process includes handling all legal requirements and complying with the Ministry of Corporate Affairs, after which a Certificate of Incorporation, PAN, and TAN are issued. With these documents, a current bank account can be opened and the business can begin operations.