Private Limited Companies are a small business individual and body which can be included or incorporated with a smallest or least amount of two directors and shareholders. Each is looked upon and considered as the member of staff of the Company or commerce with the benefit of limited liability. A private limited company registration is basically one of the highly recommended means to start a business in India. The company’s act 2013 governs private limited company registration in the India
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A private limited company registration can be only registered with the minimum two of the directors or the subscribers and not the director’s maximum exceed to 15 directors also. One of the Directors of a private limited company has to be an Indian Citizen and Indian inhabitant.
Features and advantages of private limited company
There are some features and the advantages of private limited company registration which are been listed below-
- Separate legal existence: In the judgment and eye of law and as officially permitted a private limited company registration is has a separate legal identity which it means that the assets and liabilities of the business are not same as or as according to the assets and liabilities of shareholders and the directors they both are completely different and also been considering as different too.
- Limited liability: If the private limited company experiences and go through the financial suffering or anguish of the personal and individual assets of members/shareholders and it cannot be used for paying the debts and amount overdue of the Company.
- FUNDING: A Private Limited Company is able to move up and raise the impartiality or equity share capital as well as preference share capital from persons, individuals or thing or entities paying attention or interested in becoming and fetching a shareholder. Private Limited Company can move up capital without difficulty from the Banks, Financial Institutions, Angel Investors, venture capital firms, private equity firms etc.
- MANAGEMENT AND OWNERSHIP SEPARATION: The directors and shareholders consign and transfer accountability and answerability to function, activate and run the company with no and devoid of losing control in the form of determination or the voting.
Minimum requirement to register private limited company
- UNIQUE NAME OF COMPANY: The planned name of the company or corporation should be only one of its kinds, exceptional or unique one and must not be alike, parallel or be similar with an a lived companies, corporations or LLP or Registered Trademark or Trademark applied for.
- CAPITAL REQUIREMENT: in a private limited company registration there is no necessity and requisite of least amount and minimum Paid remunerated up capital to register a Private Limited Company and also investment can be completed or made as per requirements or needs of the business.
- MINIMUM TWO PERSONS: A Private Limited Company can be registered by at smallest amount of two persons, who shall do something as the shareholders and Directors of the company and out of which at Least One Director must be inhabitant or occupant in India.
- MAIN OBJECTS OF THE COMPANY: To illustrate or explain business or commerce performance of the business, most important objects or substance of the company ought to and should be specified before formation of company.
DOCUMENTS REQUIRED TO REGISTER A PRIVATE LIMITED COMPANY
- PAN Card of Shareholders and Directors.
- Aadhar Card And Voter ID/ Passport/ Driving License of Shareholders And Directors.
- Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
- Latest Passport Size Photograph of Shareholders and Directors.
- Latest Electricity Bill/ Telephone Bill of The Registered Office Address
- No Objection Certificate To Be Obtained From The Owner(S) of Registered Office
- Rent Agreement of The Registered Office Should Be Provided If Any.
