Private Limited Company Registration In India

In India, company registration is mandatory with the Ministry of Corporate Affairs. Before setting up company in India there are various factors which must be considered by the entrepreneur. 

Advantages of Private Limited Company Registration in India

Here are the following benefits of Private Limited Company Registration:

• Limited Liability
• Shares can be transferred
• Separate Legal Entity
• Perpetual Succession

Basic Requirements of Private Limited Company in India

• Here are the following requirements of Private Limited Company Registration in India: 
•  Minimum two people are required to form a Private Limited Company in India.
• There must be at least two directors and two shareholders at the time of incorporation of private limited Company.
• Maximum fifteen directors can be appointed in a private limited company and maximum 200 shareholders.
• There is no such requirement of minimum share capital to setup a Private Limited Company in India.

Director eligibility in a Private Limited Company in India

• A person must have completed 18 years.
• Only a natural person can become director in a Private Limited Company in India.
• A foreign national can become director in a Company.

Private Limited Company Registration Validity
 

Once a Private Limited Company registration is done, it shall be valid for the lifetime, however Company must have fulfilled the legal compliances such as filing of annual return and other mandatory forms.

Foreign National Appointment in Directors

Yes, a foreign national can be appointed as a director in a Private Limited Company if he has obtained Director Identification Number but at least one director must be an Indian resident.

Documents for Private Limited Company Registration in India

For Private Limited Company registration in India, below mentioned documents are required:

At the time of Name Reservation (RUN):

·         Proposed Company Name

·         Object of the Company

At the time of Company Incorporation Form (SPICE):

·         DSC for all the proposed directors;

·         DIN of all the proposed directors (If there are more than 3 directors)

·         Details of capital structure of the Company

·         Details of subscribers of the company

If Individual

1.      Personal details of directors;

2.      PAN

3.      ID Proof

4.      Address Proof

5.      No of shares prescribed

If Company

1.      CIN of the Company

2.      PAN of Company

3.      No of shares subscribed

4.      Email id of the Company

5.      Phone No of the Company

6.      Registered Office Details

7.      Details of interest in other entities

·         Details of directors in a Company

1.      Personal details of directors;

2.      PAN

3.      ID Proof

4.      Address Proof

5.      Interest in other entities and amount of shareholding (DIR 2)

·         Registered Office Details

1.      Ownership proof in case of owned office;

2.      Rent agreement if office is on rent;

3.      If office is owned by director then NOC from director.

4.      Registered office address proof (Not older than two months)

·         Affidavit by the subscribers in form INC-9.

·         Declaration by professional in form INC-10.

After filing of incorporation form with required documents, Registrar of Companies verify the application and issue Certificate of Incorporation.

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