A Private Limited Company offers certain restrictions on the ownership and limited liability for its shareholders. In the Private Limited Company registration process, directors may be different from shareholders.

Registering a company offers many benefits and increases the authenticity of the business. It helps to shield the business from personal liability, attracts more customers, procures bank credits and investment from investors, offers liability protection against assets, capital contribution, stability, and increases the potential to expand.

Registration process

The registration process defined under the Companies Act 2013, has a requirement of a minimum of two Directors and a maximum of 15 directors and at least one must be a resident of India. The name of the business must be unique and should have an authorized capital of at least Rs. 1 lakh. The registered office of a company can be a rented home provided a NOC is obtained from the landlord.

Company Registration, governed by MCA, provides an edge over those who have not registered. The registration process involves applying for DSC (Digital Signature Certificate), DIN (Director Identification Number), and the company name availability. Filing of the MOA and AOA is also needed to register a private limited company. One has to apply for the PAN and TAN of the company and get the certificate of incorporation issued by the Registrar of Companies. Finally, one has to open a current bank account in the company’s name. Company registration ensures that the company name has not already been taken by another legal entity. 

Documents required for Company Registration

The documents accepted by MCA for the online company registration include identity/address proof, copy of PAN Card or Passport (Foreigners and NRIs), copy of Voter’s ID/Passport/Driver’s License, copy of the current bank statement or telephone or mobile bill or electricity or gas bill, passport-sized photograph and specimen signature on blank document with signature (for directors only).

For registration, the company must have a registered office in India. A recent copy of an electricity bill or the property tax receipt or water bill should be submitted for registration. If listing a rental home as a registered office, one has to submit the rental agreement, utility bill, and a letter from the landlord consenting to use the office as a registered office of the company. For foreign nationals, a notarized copy of the passport is mandatory. The residence proofs viz. the bank statement or the electricity bill must be current that is, less than 2 months old. All documents submitted should be valid. The Company Registration process generally takes 2 weeks.

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.