Private Limited Company Registration in India | Get Easy Access To Loan
Incorporation of a private limited company comes with several questions, out of all, the most essential is - How to complete private limited company registration in India or whether you should register a private limited company - questions which still raise a big doubt when it comes to registration of a private limited company.
To make it clear, let’s understand it numerically, in 2020, India had a total of 122 thousand private limited companies with a sum capital authorization of over rupees 2.2 trillion. Surprisingly, out of 122 thousand private limited companies, 120 thousand companies were registered.
A large number of registered private limited companies signifies that the registration of private limited companies is essential for growth and diversification. One of the prompt reasons behind Private Limited Company Registration could be easy access to loans from banks and financial institutions.
Now, let’s come to the questions mentioned right on the top, and before discussing how to do private limited company registration in India, let’s see, whether registration of the private limited company is essential or not.
Well, the answer to the question is - YES. As mentioned, a registered private limited company enjoys varied benefits like building credibility, trustworthiness, filing government tenders, and more. The mentioned benefits make registration worthwhile, thus, making registration essential.
Hope you are aware of why you should register your private limited company - now, let’s see some of its features it.
What Are the Features of a Private Limited Company?
- A minimum of two members are required to form a private limited company, which could extend up to 200.
- Earlier paid-up capital to establish a private limited company was Rs 1 lakh, however, now it is abolished.
- At the end of the name of the private limited, add “private company,” and Pvt Ltd.” as a suffix.
- Transfer of shares in a private limited company can be done freely.
The above-mentioned basic features which a person must know before establishing a private limited company. Let’s see, what are the requirements to complete before its incorporation.
What Are the Requirements to Establish a Private Limited Company?
- Require at least two members and two directors to establish a private limited company.
- The directors and members in a private limited company can be the same.
- To establish a private limited company, at least one director must be an Indian resident.
- No obligation has been imposed on the required minimum capital.
- For two promoters, you need a Digital Signature Certificate (DSC) with a witness.
- For each director, you need a Director Identification Pin (DIN).
These requirements are the basic steps toward private limited company registration in India. Once these requirements are fulfilled, you need documents for submission during registration. To know what are the documents required for incorporation of a private limited company, click here.
Here, let’s finally check how to do private limited company registration in India -
Private Limited Company Registration in India | Pvt Ltd Registration India
Step 1 - Check the availability of the name of the company.
Step 2 - Once the company’s name is finalized, an application will be duly filed for DSC and DIN.
Step 3 - Thereafter, an application will be filed for a Memorandum of Association (MoA) and Article of Association (AoA).
Step 4 - Then, a company’s PAN and TAN need to be obtained.
Step 5 - Along with PAN and TAN, a certificate for incorporation will be issued.
Step 6 - The company’s bank account will be opened.
Step 7 - At last, submit the application form with the required documents.
NOTE - Depending on the activities a company is engaged in, you might require to obtain an EPR approval and DPCC approval.
As we can see, the private limited company registration in India includes obtaining several documents like DSC, DIN, TAN, PAN, and any other requirements there would be. Well, no doubt, it could be quite challenging, especially for a layman.
No worries, we have got you covered. Let’s see, how we can make private limited company registration in India seamless for you -
How We Will Help in Private Limited Company Incorporation?
- We are equipped with all the necessary resources to handle each aspect of private limited company registration.
- Our consultants will provide you with complete assistance with the documentation.
- Our expert team of professionals will guide you through the registration process.
- If required, we will provide you with technical support in opening a bank account.
- We will invest our time and efforts and guarantee to provide you with DIN and DSC which plays an important role in private limited company registration.
- We directly coordinate with officials to meet their startled requirements and to ensure proper follow-ups.
- We will be available 24*7 to solve any query you may have.
As mentioned, private limited company incorporation is essential, considering easy access to loans, filing government tenders, and more. However, it is also true that it is quite challenging and perplexing. Therefore, requires a professional approach to understand how to do private limited company registration in India and move forward with a process possessing complete knowledge of the same.
We are here for you!
JR Compliance - an award-winning corporate compliance service provider emphasizes keeping everything on track by ensuring that our clients possess all the documents required, including coordinating with the Corporate ministry to ensure compliance with standards. Above all, we have completed 5000+ private limited company registrations and definitely, our experience says it all.
For us, your success is our success, that’s why we invest our time and resources to meet the client’s expectations. Get in touch with our PVT Limited Company consultants.