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A private company is a company which is owned by non-governmental organisations or a relatively small number of shareholders or members of a company. Usually, a private company does not offer or trade its shares to the general public on the stock exchanges, but rather the private stock of the company is owned and traded.
A private limited company in India is governed under the Ministry of corporate affairs (MCA). Registering a private limited company in India is easy, and it can be done completely online with Filemydoc.com. To start a private limited company in India a minimum of two people are required to act as directors and shareholders.
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No minimum capital is required to form a Private Limited Company.
A Private Limited Company is a separate legal identity in the court of the law, meaning assets and liabilities of the business are not the same as the assets and liabilities of the Directors. Both are counted as different. A Private Limited Company separates Management and Ownership and thus, managers are responsible for the company's success and are also answerable for the company's loss.
If the company undergoes financial distress because of whatsoever reasons, the personal assets of members will not be used to pay the debts of the Company as the liability of the person is limited.
A Private Limited Company in India is the only form of business except for Public Limited Companies that can raise funds from Venture Capitalists or Angel investors.
Shares of a company limited by shares are transferable by a shareholder to any other person. The transfer is easy as compared to the transfer of an interest in a business run as a proprietary concern or a partnership. Filing and signing a share transfer form and handing over the buyer of the shares along with a share certificate can easily transfer shares.
A Private Limited Company has 'Perpetual Succession', which is continued or uninterrupted existence until it is legally dissolved. A company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.
In a Private Limited Company, 100% Foreign Direct Investment is allowed that means any foreign entity or foreign person can directly invest in a Private Limited Company.
The particulars of the company are available on a public database. This improves the credibility of the company as it makes it easy to authenticate the details.
As defined by the Companies Act 2013, we must guarantee that the checklist requirements are met.
A private limited company must have at least two directors, with a maximum of fifteen. A minimum of one of the company's directors must be a resident of India.
The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.
There is no minimum capital amount for a company.
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NOC is obtained from the landlord.
Listed below are the documents accepted by the MCA for the online company registration process.
Identity and Address Proof
Registered Office Proof
Company registration in India benefits startups since it offers them an advantage over those who have not registered. The process of registering your company is complex and involves many compliances. However, with Filemydoc.com it is easy to incorporate a company as our professionals can help you with every step of private limited company registration process.
The private limited company registration process is easy and completely online, so you don't even have to leave your home to get your entity registered.
At Filemydoc.com, we complete the registration process within 14 days.
Our company registration package includes:
We have helped over more than 12000+ start-ups to form their entities and build their businesses, with our technology oriented and hassle-free process while sitting at home. We are rated as 4.8 out of 5.0 on Google for our superior services and support.
With Filemydoc.com, get your private limited company registered in no more than 14 days at affordable cost of ₹ 4999/- (exclusive Govt. Fees and Taxes).
The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
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.
No, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs of rupees and even lead to the blacklisting of directors.
Authorized capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorized capital can be increased any time after incorporation to issue additional shares to the shareholders.
Yes, NRIs, foreign nationals, and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.
You can use the our company name search tab to search for available names in India.
GST registration is mandatory for certain businesses. Companies dealing with e-commerce operations or any other interstate activity and companies with turnover of more than Rs. 40 Lakhs are required to obtain the same. GST registration takes just 2-5 working days with Filemydoc.com.
The Private Limited Companies that are registered in India have to file the ITR returns each year in Form ITR 6.
The companies registered in India are required to file the MCA annual return each year informs AOC 4 and MGT 7.
Minimum 2 number of members are required to start a Private Limited Company which can be extended to 200 members.
Private Limited Companies are taxed at 30% plus the surcharge and cess as applicable.
The ownership of a Private Limited Company can be transferred by the way of shares.
There are various of registering as a Private Limited Company like Limited Liability, Access to funding, borrowing capacity, greater capacity, easy exit, and scope of multiple opportunities.
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.
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