Solubilis provide Private limited company registration in Chennai, Bangalore, Hyderabad, Cochin and anywhere in India. Private limited company is a common form of business organisation prevalent in India. Section 2 (68) of the Companies Act 2013 defines the private limited company. Simply private limited company is a company incorporated under the Indian Companies Act 2013, having minimum 2 members (except for one person Company) and maximum of 200 members. Normally such private company shares are not freely transferable and such companies cannot invite public to subscribe in their securities.
It is a legal entity different from its members. It can hold property, borrow money etc. as a natural person.
Less legal complexities in forming, running and managing the company. It is enough to have two persons to form a private limited Company.
Private Limited companies can have a 200 members as maximum number of shareholders, which is a manageable shareholder group to any management team.
The shareholders personal money cannot be attached for the company Debt. Shareholders’ liability is limited to the extent of their unpaid share capital. In partnership and Sole proprietorship, the partner and Sole proprietor are personally responsible to their creditors.
It is an owner friendly organisation type used by most of the business community.
Company form of entity will have a perpetual succession, the entity will continue for ever.
Company will be managed by the Board of directors, which should be minimum 2 members.
There is no restriction on the capital requirement for forming the private limited company (As amended by the act) investors can form a private limited company with minimum capital requirement.
Name of the company should carry the words “Private Limited” in order to identify the entity.
Proposed Director & Shareholder - Indian Citizen:
Submission PAN Card
ID proof copy (Voter ID, Passport, Driving License) any one is required.
Proof for Address any one copy from Bank statement, Electricity bill, telephone bill, mobile is required.
Proposed Director & Shareholder from foreign national:
A copy of passport, certified from home country.
A copy of address proof registered officially in home town.
A copy of nationality proof (officially certified from a home country).
(Note: For further clarification this proof will considerable which depends upon the peculiar country.)
Two photo copies.
Register Office documents:
Verification documents Telephone Bill, Gas Bill, Electricity Bill, etc.
Documents describe under the name of Applicant and not older than two months.
Supposed to be if it lacks, the authorized owner or occupant need to provide No Objection Certificate.
If the Office is rental, a copy of rental agreement is inevitable.
Private Limited Company is a separate legal entity. Private limited companies have perpetual succession with limited liability i.e. the liability of the shareholders /Members of the company is limited only to the value of shares paid up by them.
Solubilis is the best service provider; we take 5-7 days to register the private limited company.
1. Certificate of Incorporation along with PAN and TAN Number
2. Memorandum of Association
3. Articles of Associations
Foreign nationals and Non Residential Indians (NRI’s) can register Private limited Company. Subject to foreign direct investment norms (Approval or Automatic route) set by RBI
No, LLP cannot be converted to a Private Limited Company as it is not permissible by the government of India. Both the LLP Act, 2008 and the Companies Act,2013 are silent about the matter and haven't done any amendments on the same. However, if you want to expand your business you can register a Private Limited Company with INC-29 which has simplified the process of registration.
Yes, a salaried person becomes the director in private limited company, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
Authorised capital is the maximum amount of equity shares that can be issued by a company. Paid up capital is the amount of shares issued by the company to shareholders / Members. There is no prescribed minimum limit of authorised and paid up capital required in order to start a private limited company. Authorised capital can be increased to any limit even after incorporation of company and Paid up capital is the value of shares allotted to the shareholders / members.
Normally registration of private limited takes 7-10 working days. But the processing time varies subject to the provision of documents by client and the time taken by government for approval.
There are two types of a private limited company:
Private company limited by guarantee, which is a company without shares but is guaranteed by the members who agree to pay a fixed amount of capital in the event of the company liquidation.
Private company limited by shares, herein the company has shareholders with limited liability and its shares are not generally offered to Private.
GST is not mandatory for private limited provided the turnover in a year should be within 40 lakhs in case of manufacturers and traders, 20 Lakhs in case of service providers and No existence of interstate sale i.e. Sale between state to state.