You can start your business by registering a business entity like Proprietorship concern, Partnership Firm, Limited Liability Partnership Firm, Private Limited Company or Limited Company. All these business entities having advantages and disadvantages, one should select business entity by considering various factors like type of ownership, decision making process, investment required in business and availability of funds, taxation etc
In this article we will discuss brief procedure to register a private limited in India. Registration process is similar in all the state of India but the cost of registration of private limited company may vary due to change in stamp duty cost of registration of MOA. Companies Act 2013 governed registration of company through ROC portal and Ministry of Corporate Affairs.
Registration of private limited company in 2022 is become easier as compared to earlier year as ROC launched SPICe+ form for registration of private limited company. This form allows various registration along with company registration like PAN, TAN, ESIC, EPFO etc. Let me share in details about the steps for Company Registration in India.
Why you should choose private limited company?
- Perpetual Succession allows to add or remove shareholder without any impact on business of company.
- Limited Liability Protection provides immunity to owners personal property in case of any damages, losses or bankruptcy.
- Investor prefers to invest in private limited company.
- Foreign Direct Investment allowed to private limited company.
- Shareholders and directors are usually same for private limited company, this allows control over management of company.
List of documents required for Company registration
- PAN Card promoters
- Passport size photograph of promoters
- Aadhaar Card of promoters
- Rent agreement, if rented or
- Property Paper, if owned
- Electricity/ Water bill (registered place of business)
- Landlord NOC (No Objection Certificate)
Checklist for registration of private limited company in India?
- Two director must be required which can be maximum up to fifteen. At least one director must be resident of India.
- Registered place of business
- There is no requirement of minimum capital but private limited company should have at least 1 lakh authorised capital.
Step by step guide on registration of private limited company
Step 1: Acquire Digital Signature Certificate of Director
The first is to register a private limited company is to acquire the DSC of the Directors and Subscribers to MOA. DSC stands for Digital Signature Certificate. Any e-form is filed with the Ministry after affixing the DSC of the Authorised Signatory for Company Incorporation. Also, it is required for the application of the DIN of the directors. Further, the DSC of the subscriber is needed to file MOA and AOA.
Step 2: Reserve Unique Name Form
The next step in company registration involves making an application for a reservation of name for the proposed company. We need to keep in mind that the names applied are not identical or nearly resembling any existing Company or LLP or Registered Trademark.
Step 3: Submission of SPICe+ form to incorporate the company
Once the name is reserved for the proposed company, one shall proceed with making the Application of Certificate of Incorporation in SPICe+ form accompanied with SPICe MOA and SPICe AOA. The application is submitted by paying the requisite Stamp Duty as applicable in the case of the concerned state on MCA. Once the application is submitted, form for application of PAN and TAN of the company is generated online.
Step 4: Successful grant of the Certificate of Incorporation
After due verification of the application and documents provided, MCA may grant the Certificate of Incorporation (COI). It is proof of the existence of the company, wherein the date of Incorporation, Company Identification Number (CIN), and Permanent Account Number (PAN) are mentioned with the sign and seal of the Registrar. Once, the Certificate of Incorporation is granted, the company may commence the Business Activity as the Incorporation procedure is completed.
How much time required to get company register?
Normally EAdvisors team required 10-15 day to get company registration but processing time may vary on case to case basis depending upon availability of documents and processing of file at ROC.
For more information about Company Registration, Fee Structure of Company registration, Drafting of application, name approval, or any matter related contact our expert team