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Private Limited Company to be Incorporated under Companies Act, 2013
Private Limited Company is a suitable device for starting up a buisness of family or small scale concerns. It’s a company with zero minimum paid up share capital.
Incorporation gives you a professional status and also Registering the Trademark of your company will help you to safeguard your identity and restrict others from using it.
Benefits of Incorporation of Private Limited Company
Separate Legal Entity
Private Limited company will be considered as a separate legal entity where the assets & liabilities of the business and directors are not same. Company will be considered to be a legal person and also holds the Right to Sue a third party incase of any dispute or default arises.
Limited Liability
The liability of the company is limited.The personal assets of the members will not be used even for unpaid debts. If the company is facing financial crisis, only the profit earned, shareholding, and assets of the company will be used to pay back their loans.
Easy Fundraising and Loans
Easy accessible procedures for loans and fundraising through bank, venture capital and Angel investors for Private Limited Company.
No Minimum Capital
You can start up your Private Limited Company with zero paid up capital. Now capital can not stop you from starting your business.
Documents required for Incorporation of Private Limited Company.
The following documents and requirements to register your Private Limited Company,
Aadhar / Voter ID / Driving licence / Passport of Directors and Shareholders
The Address proof of the Directors, shareholders along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
A photo Copy of the respective Directors and shareholders.
The PAN card of the respective Directors, shareholders and designated authorities of the company.
Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing with the Register of Companies.
No objection certificate by the owner / landlord must be enclosed.
In case of any Non Resident Indian (NRI) or Foreign National Directors the relevant documents must be notarized and apostilled for certifying documents.
Process of Incorporation of Private Limited Company
Frequently Asked Questions
Yes , there is no requirement for minimum capital to start up Private Limited Company. Now capital money cannot restrict you from registration of your company.
Minimum of 2 directors are enough to start your private company and maximum upto 15 directors can be appointed.
No, the personal assets of the members will not be used even for unpaid debts; only the profit earned and shareholding will be used to pay back debts.
Yes, any Non Resident Indian (NRI) or Foreign National can become Directors but there should be at least one Indian resident on the Board of directors.
If you have any further queries, get our experts’ opinion. For free consultation Contact our Taxteam to resolve all your queries.
