The Definitive Guide on Private Limited Company in India by Lawgical India

 

Launching a business in India is thrilling and it is crucial to pick the proper structure to be able to achieve long-term success. Private Limited Company Registration is one of the popular forms of business in India, which is chosen by entrepreneurs and startups. It lends credibility, a limit to liability and enhanced growth potential. Incorporation of Pvt Ltd Company Registration is an easy, quick and economical process at Lawgical India.

This guide would clarify the following about a private limited company in India and its characteristics, advantages, eligibility conditions, the documents essential and the process involved therein.

What is the Private Limited Company?

Private Limited Company is the kind of business which is owned privately by a few individuals. It falls under the Companies Act, 2013, and affects the Ministry of Corporate Affairs (MCA). In comparison to a sole proprietorship or partnership, a Pvt Ltd company is an independent legal entity, so the liability of a company and its assets are not attributed to its owners.

Salient characteristics of a Private Limited Company:

• A company must have at least two directors and two shareholders.

• Is made up to 200 members.

• Stocks are not tradeable.

• Protection of shareholders on a limited liability basis.

• Registration is compulsory within the rules of MCA and ROC (Registrar of Companies).

The Reason to go with Pvt Ltd Company Registration?

Many benefits come with selecting private limited company registration as a form of business registration as compared to the other types of businesses:

1. Protection of Limited Liability

Liability of the shareholders is subjected to the extent or amount invested in a company. The risk posed to business does not affect personal assets.

2. The Separate Legal Identity

The company is also assumed to be an independent legal entity and this adds credibility and trust to the clients and investors.

3. Liquidity of Funds

Venture capitalists, angel investors and financial organizations are possible sources of equity funds to be raised by private limited companies.

4. Perpetual Existence

Even when the ownership or management changes, the company does not dissolve provided that it lives on since the card is not owned by an individual.

5. Better Branding

Registration confers a professional identity to a business and this makes it easier to establish partnerships and gain customers.

Eligibility Criteria to apply to start a Private Limited Company

These are the conditions you are to be met before Pvt Ltd Company Registration:

• At least 2 directors (one of them must be resident in India).

• At least 2 shareholders (who can also be the same as the directors).

• Uniqueness of the company name that has been approved by MCA.

• Indian address of registered office.

Requirements of Pvt Ltd Company Registration

In order to incorporate your own business as a private limited company, you require:

• Identification proof of directors and shareholders (need of PAN Card).

• Address Proof(Passport, Aadhar, Voter ID, driving license)

• Utility Bill of the registered address of the company (recent).

• Director photographs of the passport size.

• All directors will have Digital Signature Certificate (DSC).

• All the directors will have a Director Identification Number (DIN).

The Step-Wise Procedure in the Registration of Private Limited Company

At Lawgical India, we have a cost effective method of Pvt Ltd Company Registration:

1. Applying to Digital Signature Certificate (DSC)

The DSC is required by all directors who need to sign electronic documents.

2. Getting Director Identification Number (DIN)

It is required that every director must submit DIN prior to registration of the company.

3. Name Reservation (RUN Service)

Suggest two to three original names of your company. The available one will be accepted by the MCA.

4. Writing of MOA and AOA

Articles of Association (AOA) and Memorandum of Association (MOA) are made and filed.

5. Use of SPICe+ Form MCA

This is done by applying a registration form together with all other requirements online via MCA portal.

6. Certificate of Incorporation

After such consent the company is given its Certificate of Incorporation and a Corporate Identification Number (CIN).

The Assistance Lawgical India Provides to Set up a Pvt Ltd Company

Lawgical India wants to ensure that Private Limited Company Registration becomes a simple and affordable process. The professionals here deal with:

• Recording of names.

•  DSC and use applications.

• handling of MOA&AOA drafting.

• Registering and registering with the MCA and getting its approval.

Using our services, you will be able to establish your company in no time and grow your business without any legal affair.

The price of registering a Private Limited Company in India

Pvt Ltd Company  Registration fee varies since it is based on government fees, DSC fees and professional service fees. At Lawgical India we provide low cost packages and there are no hidden expenses.

Conclusion

The best choice of the business of entrepreneurs who want to create a scalable and reliable business in India is Private Limited Company Registration. It gives it legal safeguard, improved access to funds, and an effective brand image. At Lawgical India, there will be no trouble of registering online and at the end of the process, the form is completed.

So in case you wish to begin your dream business, call Lawgical India today and start your business with Pvt Ltd company in a span of few days.