Register a Private limited Company on my
Home Address ?Yes, you can register your company at your residential address. there is no issue, you need only the utility bill copy of the same.
Can i Register my family members in the company, if have no partner ?
Yeah, it's a good idea to register on your family member on the Paper. even on later stage you can change this or transfer the shares of the directors.
How many days takes to register a private limited company ?
Its take minimum 10 to 15 days avg. to register a private limited company in India.
How
much cost for the private limited company ?
Its cost nearby 14999/- INR except in some state like Punjab, Kerala and MP State due to Stamp Duty.
What is meant by the authorised capital in case of private limited company i.e is 1 lakh rupees ?
It's a just a maximum share value which you can issued in your company so its not mean that you have to invest the 1 lakh rupees. you can start your own private limited company with any amount of capital.
GST Registration is required for private limited company ?
GST Registration is optional till the 20 lakh rupees turnover and for north east state 10 lakh rupees turnover. it's a complete separate registration apart from private limited company registration.
Its cost nearby 14999/- INR except in some state like Punjab, Kerala and MP State due to Stamp Duty.
What is meant by the authorised capital in case of private limited company i.e is 1 lakh rupees ?
It's a just a maximum share value which you can issued in your company so its not mean that you have to invest the 1 lakh rupees. you can start your own private limited company with any amount of capital.
GST Registration is required for private limited company ?
GST Registration is optional till the 20 lakh rupees turnover and for north east state 10 lakh rupees turnover. it's a complete separate registration apart from private limited company registration.
Private
Limited Company is the most prevalent and popular type of corporate legal
entity in India. Private limited company registration is governed by the
Ministry of Corporate Affairs, Companies Act, 2013 and the Companies
Incorporation Rules, 2014. To register a private limited company, a minimum of
two shareholders and two directors are required. A natural person can be both a
director and shareholder, while a corporate legal entity can only be a
shareholder. Further, foreign nationals, foreign corporate entities or NRIs are
allowed to be Directors and/or Shareholders of a Company with Foreign Direct
Investment, making it the preferred choice of entity for foreign promoters.
Unique features of a private
limited company like limited liability protection to shareholders, ability to
raise equity funds, separate legal entity status and perpetual existence make
it the most recommended type of business entity for millions of small and
medium sized businesses that are family owned or professionally managed.
Separate Legal Entity
Private Limited Company is a
legal entity and a juristic person established under the Companies Act. Hence,
a company has a range of legal capacities including opening of a bank account,
hiring of employees, taking on equity or obtaining licenses and more as an
independent corporate entity. The members (Shareholders/Directors) of a company
have no personal liability to the creditors of a company for company's debts.
Uninterrupted Existence
Private
Limited Company has 'perpetual succession', meaning uninterrupted existence
until it is legally dissolved. A company being a separate legal person, is
unaffected by the death or other departure of any member and continues to be in
existence irrespective of the changes in ownership.
Borrowing Capacity
Private
Limited Companies can raise equity funds in India. Companies can also issue
equity shares, preference shares, debentures and accept deposits with RBI
permission. Banks and Financial Institutions prefer to provide funding to a
company rather than partnership firms or proprietary concerns.
Easy Transferability
Ownership
of a business can be easily transferred in a company by transferring shares.
The signing, filing and transfer of share transfer form and share certificates
is sufficient to transfer ownership of a company. In a private limited company,
the consent of other shareholders maybe required to effect share transfers.
Owning Property
Private
Limited Company being an artificial person, can acquire, own, enjoy and
alienate, property in its name. The property owned by a company could be
machinery, building, intangible assets, land, residential property, factory,
etc., No shareholder can make a claim upon the property of the company - as
long as the company is a going concern.
Identity and Address Proof
Identity
and address proof will be required for all directors and shareholders of the
company to be incorporated. In case of Indian nationals, PAN is mandatory. For
foreign nationals, apostilled or notarised copy of passport must be submitted
mandatorily. All documents submitted must be valid. Residence proof documents
like bank statement or electricity bill must be less than 2 months old.
Registered Office Proof
All
companies must have a registered office in India. To prove access to the
registered office, a recent copy of the electricity bill or property tax
receipt or water bill must be submitted. Along with the utility bill, rental
agreement or sale deed and a letter from the landlord with his/her consent to
use the office as a registered office of a company must be submitted.
Important other thing that i (sandip) think you will be dealing with while registering as private limited company in india are as given below >
DSC, DIN NAME APPROVAL, INCORPORATION FEE, PAN, TAN, SHARE
CERTIFICATES, COMPANY KIT, AUTHORISED SHARE CAPITAL OF RS 10LAC, TRADEMARK FILING, MOA, AOA.
ANOTHER WAYS TO MAKE YOU UNDERSTAND : -
Private Limited Company registration is the
most popular legal structure option for businesses in India. Private limited
company can have a minimum of 2 members
(shareholders) and a maximum of two hundred members. It can be
incorporated with minimum 2 directors. The
directors/shareholders of a private limited company have limited liability to
creditors. In a case of default, banks / creditors can only sell company’s
assets but not personal assets of directors.
Start-ups
and growing companies prefer private limited company as it allows outside
funding to be raised easily, limits the liabilities of its shareholders and
enables them to offer employee stock options to pull in top talent.
Advantages
of Registering Private Limited Company in India:
MINIMUM REQUIREMENT OF SHAREHOLDERS AND MEMBERS: ONLY TWO MEMBERS AND TWO SHAREHOLDERS
ARE REQUIRED TO INCORPORATE A PRIVATE LIMITED COMPANY. THIS GIVES MANY
ENTREPRENEURS AN OPPORTUNITY TO SET UP THEIR OWN COMPANY.
·
LIMITED
LIABILITY: LIMITED
LIABILITY MEANS THE STATUS OF BEING LEGALLY RESPONSIBLE ONLY TO A LIMITED
AMOUNT FOR DEBTS OF A COMPANY. UNLIKE PROPRIETORSHIPS AND PARTNERSHIPS, IN A
LIMITED LIABILITY COMPANY THE LIABILITY OF THE MEMBERS IN RESPECT OF THE
COMPANY’S DEBTS IS LIMITED. IN OTHER WORDS, THE LIABILITY OF THE MEMBERS OF A
COMPANY IS LIMITED ONLY TO THE EXTENT OF THE FACE VALUE OF SHARES TAKEN UP BY
THEM. THEREFORE, WHERE A COMPANY IS LIMITED BY SHARES, THE LIABILITY OF THE
MEMBERS ON A WINDING-UP IS LIMITED TO THE AMOUNT UNPAID ON THEIR SHARES.
·
FREE
& EASY TRANSFERABILITY OF SHARES OR CHANGE IN OWNERSHIP: SHARES OF A COMPANY LIMITED BY SHARES
ARE TRANSFERABLE BY A SHAREHOLDER TO ANY OTHER PERSON. THE TRANSFER IS EASY AS
COMPARED TO THE TRANSFER OF INTEREST IN BUSINESS RUN AS A PROPRIETARY CONCERN
OR A PARTNERSHIP. FILING AND SIGNING A SHARE TRANSFER FORM AND HANDING OVER THE
BUYER OF THE SHARES ALONG WITH SHARE CERTIFICATE CAN EASILY TRANSFER SHARES.
·
·
NO
MINIMUM CAPITAL CONTRIBUTION: NO MINIMUM CAPITAL REQUIREMENT. YOU CAN START IT WITH
ANY AMOUNT NOT LESS RE.1 PER SHAREHOLDER.
·
EASE
OF RAISING FUNDS: SHAREHOLDERS
ALLOWED ARE UP TO TWO HUNDRED AND ANOTHER TWO HUNDRED MEMBERS ARE ALLOWED, THIS
MANY NUMBERS AND THE REPUTATION OF THE PRIVATE LIMITED COMPANY MAKES IT EASIER
TO RAISE CAPITAL FUNDS IN COMPARISON TO OTHER FORMS OF COMPANIES. THEREFORE, WE
CAN SAY THE SCOPE OF EXPANSION IS GREATER WHEN A PRIVATE LIMITED COMPANY IS
INCORPORATED. TAKING DEBTS FROM BANKS AND OTHER FINANCIAL VENTURES ARE QUITE
EASY TOO. RAISING MONEY AS A SMALL BUSINESS AND A SOLE PROPRIETORSHIP OR
PARTNERSHIP CAN BE DIFFICULT. BUT AS PER COMPANIES ACT 2013 A COMPANY CAN SELL
SHARES TO THE PUBLIC OR CAN ACCEPT DEPOSITS FROM PUBLIC AND CAN THEREFORE RAISE
MONEY EASIER THAN OTHER BUSINESS STRUCTURE TYPES. THE MODES OF FINANCING BUSINESS
CARRIED ON BY COMPANY ARE NUMEROUS. MOREOVER, SINCE THE COMPANIES ARE GOVERNED
BY PARTICULAR LAW AND HAVE TO COMPLY WITH STRINGENT DISCLOSURE NORMS, THEREFORE
THEY ENJOY GOOD CREDIT WORTHINESS WITH VARIOUS FINANCIAL INSTITUTIONS.
·
TAX
ADVANTAGES: THEY
PAY TAX ON TAXABLE PROFITS AND ARE EXEMPTED FROM HIGHER PERSONAL INCOME TAX
RATES.
O FLEXIBLE RELATIONS: A PERSON CAN ACT AS A SHAREHOLDER, A
DIRECTOR AND AN EMPLOYEE AT THE SAME TIME WHEN THE PRIVATE LIMITED COMPANY IS
TAKEN INTO CONSIDERATION. THEY ARE CONSIDERED RELIABLE TOO.
IDERATION. THEY ARE CONSIDERED RELIABLE TOO.
