Private Limited (Pvt Ltd) Company Registration

Startups and businesses with higher growth aspiration popularly choose Private Company as suitable business structure.

One of the highly advised ways to launch a business in India is to establish a private limited company. This kind of business offers its shareholders limited liability along with some ownership restriction.

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The quickest and hassle-free way of acquiring Private Limited Company Registration is through StartupYo.

Private Limited Company Registration has become an easier step for all businesses. However, it demands a lot of time and effort if done individually, and hence StartupYo eases the process by helping you with Private Limited Company registration.

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What is a Private Limited Company?

A privately held company for small businesses is called a private limited company. This kind of business entity restricts shareholders from publicly trading shares, caps the number of shareholders at 200, and limits owner liability to their shareholdings.

Types of Private Limited Companies

Private limited companies can be any of the following, depending on the liabilities of their members:

Limited by Shares: In this instance, the members’ liability is capped at the outstanding balance owed to the company in relation to the shares they own.
Liability is constrained by the amount that the members have agreed to guarantee paying in the event that the company is wound up.
Members are subject to unlimited liability, which permits the sale of their personal assets in the event of a company wind-up.

Private Limited Company Compliances

A company must consistently maintain a number of compliances after registering in India in order to avoid penalties and legal action.
A company must, among other things, abide by the following rule after registering as a business.

Director DIN KYC:Every director who has a Director Identification Number (DIN), which is provided during the incorporation process and confirms the contact information on file with the MCA, must complete DIN KYC every year.

MCA Annual Filings:

Every fiscal year, every company with an Indian registration must send a copy of its financial statements to the MCA.The first MCA annual return may be submitted with the annual filing for the following fiscal year by a corporation that is formed between January and March. The MCA annual return is made up of Forms MGT-7 and AOC-4. Both of these documents shall be digitally signed by the Directors and a Worker. .

Commencement of Business:

The shareholders of the Company shall deposit the subscription sum specified in the MOA within 180 days of the date of incorporation and the Company shall open a bank current account. In order to obtain a business incorporation certificate, the shareholders of a company that will be established with a paid-up capital of 1 lakh must deposit 1 lakh into the company’s bank account and submit a copy of the bank statement to the MCA.

Auditor Appointment:

Within 30 days of incorporation, every Indian company is required to appoint a practicing, authorized, and registered Chartered Accountant (CA).

Advantages of Having a Private Limited Company

The process of registering a business has many benefits. If your company is registered, it will appear more trustworthy. Your company gains from it.

Simple access to bank loans and profitable investments from reliable investors.
Entice more clients
Greater stability and capital contribution increase the possibility of expanding and growing large.
In addition to providing liability protection to protect your assets, doing so also protects you from other risks and losses.

Documents Required for Private Limited Company

It is impossible to register a private limited company without valid identification and address documentation.The list of acceptable documents for the MCA’s online company registration process is as follows:

Identity and Address Proof:

Voter ID, passport, or driver’s license scan
Sample signature from a scanned passport-sized photograph (directors only; blank document)
A scanned copy of the most recent electricity, phone, or mobile bill, or bank statement
PAN Card or passport scan (for NRIs and foreign nationals)

Registered Office Proof:

- scanned copy of the property owner’s no-objection statement
- A scanned copy of the most recent electricity, phone, or mobile bill, or bank statement
- English-language notarized copies of the rental agreement and the sale or property deed, respectively, if the property is owned.

Why StartupYo?

Here are a few reasons why you should choose StartupYo for acquiring Private Limited Company

A. We assist you with all the pile of documents that are necessary for Private Limited Company

B. StartupYo’s professional services will ensure that your registration sooner than usual.

C. You would be given regular updates on the status of your registration

D. As compared to the services provided in the market by other brands, we offer the most affordable and competitive price with a good support team.

Do I need to be physically present during this process?

No, company formation is a fully online process

Can the director of a private limited company be a salaried person?

Yes, a salaried person can become the director in a private limited, LLP or OPC private limited company

If there are no partners available, then can one register their family members in the company?

Yes, it is good to register a family member as a partner

Is it necessary to have a company’s books audited?

Yes, a private limited company must hire an auditor, no matter what its revenues are

How much time is needed for setting up a private limited company ?

If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.

What documents are required to complete the process?

All directors must provide identity and address proof, as well as a copy of the PAN card (for Indian nationals) and passport (for foreign nationals). No-objection certificate must be submitted by the owner of the registered office premises.

What is the minimum capital needed to do company incorporation?

There is no minimum capital required for starting a private limited company.

Can one register a private limited company on their home address?

Yes, the company can be registered at the owner’s home address. A copy of the utility bill is required to be submitted.

If there are no partners available, then can one register their family members in the company?

Yes, it is good to register a family member as a partner. At a later stage one can change this or transfer shares of the directors

Are two directors necessary for registration of a company?

Yes, a minimum of two directors are needed for a private limited company.