Register a Private Company "Venture-Care"
The default option for start-ups and growing businesses as only private limited companies can raise venture capital.
Private limited company is the most popular corporate entity in India due to various advantages.
Private Limited Company
Private Limited Companies are those types of companies where minimum number of members is two and maximum number is two hundred. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name; number of members, shares, formation, management, directors and meetings, etc., the maximum number of directors shall have to be mentioned in the Articles of Association. In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
What Venture-Care can do to make your
Private Limited Company Successful
- Write and structure your company's objective, purpose, constitution, vision and mission statement, which will appeal to all stakeholders
- Help in selecting a very catchy name of your company and do the registration, and complete all the government procedures and compliance
- Do INC-29 Filing and File for PAN & TAN
ADVANTAGES OF PRIVATE LIMITED COMPANY
Separate Legal Entity
A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts. The members (Shareholders/Directors) of a company have no liability to the creditors of a company for such debts.
A company has 'perpetual succession', that 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.
A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.
Shares of a company limited by shares are transferable by a shareholder to any other person. Filing and signing a share transfer form and handing over the buyer of the shares along with share certificate can easily transfer shares.
A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern.
Limited Liability means the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a limited liability company the liability of the members in respect of the company's debts is limited.
SIMPLE & TRANSPARENT PRICING
No questions asked"
All inclusive fees
Private limited company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates and company kit.
All inclusive fees
Private limited company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, company kit and Logo Designing.
All inclusive fees
Private limited company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, company kit, Logo Designing and trademark registration.
PRIVATE LIMITED COMPANY REGISTRATION PROCESS
Private Limited Company Registration
Venture-Care can incorporate a Private Limited Company in 14 to 20 days, subject to ROC processing time.
Obtaining DSC & DIN
Digital Signature Certificate (DSC) and Director Identification Number (DIN) are required for the proposed Directors of the Private Limited Company. DIN and DSC can be obtained for the proposed Directors within 5 to 7 days.
A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 to 7 working days.
Registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.
DOCUMENTS REQUIRED FOR THE PROCESS
How long does it take to register a company?
With New form INC 29 the total time to register a Private Limited company is 8-15 working days. During the incorporation process the most crucial thing is to get the name approved from ROC. The ROC gives us only two attempts for name approval.
We can help to speed up the process systematically
What are the documents required to open a Private Limited Company?
The documents requirements are as follows
1. Pan Card
2. ID proof- Any one (Voter ID / Aadhar Card/Driving License / Passport)
3. Address Proof- Any one (Electricity Bill / Telephone Bill / Mobile Bill / Bank Statement)
For Registered Office Address
1. Rent agreement along with latest rent receipt (in case the premises are rented)
2. House tax receipts (in case premises are owned)
3. Electricity bill
4. NOC from the Owner (Format will be shared once your company name approved)
What is INC 29?
INC-29 is a form recently introduced by the Indian Govenrment to streamline and shorten the Company Incorporation Process. It is the fastest way to file a company in India
What does ROC do?
ROC is the registration certificate of the Company / LLP which is issued and digitally signed by the ROC. It mentions unique the CIN (Company Identification Number)
How long is the company valid for?
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
What is Director Identification Number (DIN)?
It is a unique identification number for an existing director or a person intending to become one. A person can have only one DIN, no matter how many companies or LLPs he / she holds the position of director in.
What is DSC - Digital Signature Certificate?
A Digital Signature Certificate (DSC) is a USB drive which contains a secure digital key that certifies the identity of the holder. DSC is used as an Electronic signature of the holder to sign MCA / Income Tax forms.
What is MOA / AOA?
Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a company to define its relationship with shareholders and contains the aims and objectives of the company. MOA has to be drafted very carefully as the company cannot go against anything that is mentioned in it. Articles of Association (AOA) are by-laws of the company. According to which directors and other officers are required to perform their function as regard the management of the company, its accounts and audit. It regulates domestic management of a company and creates certain rights and obligations between the members and the company.
What are the requirements to be a Director?
The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Private Limited Company.
Is an office required to open a company?
No, you can open a company on your residential address there is no requirement to have a commercial place to open up a company.
Can another company be a shareholder in Private Limited?
Yes, however a person needs to appoint an alternative director on behalf of that investing company.
How to choose the name of the company?
First ensure that company name is not similar to any other Private Limited, OPC, LLP or Public limited company. Also, do check if your first is not a registered trademark taken by anybody under the IP act. Also, make sure the name is not too generic to be accepted by the ROC and do not use abbreviations, adjectives. While choosing the name make sure that name should contain the objective of the business like if the objective is IT then word is technology, IT consultancy.
Can an NRI / Foreign National be a director in a Private limited Company?
Yes, a NRI or Foreign National can be a Director in a Private Limited Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India.
Can a Salaried person become the director in Private Limited Company?
Yes, a salaried person become 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.
What is Tax Account Number?
TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha-numeric number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government.
How many people are required to incorporate a private limited company?
To incorporate a private limited company, a minimum of two people are required. A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. A minimum of two shareholders and a maximum of up to 200 shareholders are allowed in a private limited company.
What is the capital required to start a private limited company?
You can start a Private Limited Company with any amount of capital. However, fee must be paid to the Government for issuing a minimum of shares worth Rs.1 lakh [Authorized Capital Fee] during the registration of the Company. There is no requirement to show proof of capital invested during the registration process.
Do I have to be present in person to incorporate a Private Limited Company?
No, you will not have to be present at our office or appear at any office for the registration of a Private Limited Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
What do I need to quickly incorporate my Company?
To incorporate a Company quickly, make sure the proposed name of the Private Limited Company is very unique. Names that are similar to an existing private limited company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.
How long is the registration of the Company valid for?
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
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