Private Limited Company

Private limited company is regulated by The Companies Act 2013 and The Companies Incorporation Rules, 2014. Under which minimum of two shareholders and two directors can register a private limit company. Ministry of corporate affairs has put efforts to change overall process and came up with simple steps to incorporate a private limit company.

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Benefits of Private Limited Company Formation

Improve Credibility

Limited Liability

Attract Funding

Separate Legal Entity

Prerequisites for Private Limited Company Formation

Minimum 2 persons (Age : 18+) should act as director of the company [Maximum 15 directors].
At least one director should be resident of India.
Minimum 2 persons should act as shareholders of company.
Shareholder can be natural or artificial person.

Documents required for Private Limited Company Formation

For Company :

Proposed Name of Company
Address Proof of Company

For Directors :

Proof of Identity : Passport/ Driving License/ Voter ID
Proof of Address : Bank Statement / Electricity Bill / Phone Bill
Additional Documents : PAN and Aadhar

FAQs

Q. For small business, can we register as private limited company ?

Yes, you can get it registered as private limited company. It provides you credibility and separate legal existence in the eye of the financial institution, suppliers, government and clients.

Q. What qualification is required to become a director or shareholder in private limited company ?

No specific educational as well as professional qualification is required to become a shareholder or director. Any individual person, with the sound state of mind, can register and start business as a company.

Q. What is Director Identification Number (DIN) ?

Any individual who intends to become director must hold the Director Identification Number, no separate application is required to have the DIN. It can be obtained with the SPICe form at the time of incorporation. DIN once allotted to you can be used for the lifetime.