Private Limited Company

[vc_row full_width=”stretch_row” bg_type=”image” parallax_style=”vcpb-vz-jquery” bg_image_new=”id^8379|url^http://localhost/bthawk/wp-content/uploads/2017/05/2-1.jpg|caption^null|alt^null|title^2-1|description^null” enable_overlay=”enable_overlay_value” overlay_color=”rgba(255,255,255,0.99)” el_class=”section38″ css=”.vc_custom_1496391664219{padding-top: 4% !important;}”][vc_column width=”2/3″][vc_column_text css=”.vc_custom_1554901614909{padding-right: 10% !important;}”]Find out how to register a private limited company, the most popular way of starting a business in India. Get to know the private limited company registration procedure.[/vc_column_text][ultimate_spacer height=”10″][vc_row_inner][vc_column_inner width=”1/2″][bsf-info-box icon=”Defaults-group users” icon_size=”” icon_color=”” title=”Registry of DIN” hover_effect=”style_3″ pos=”left”]We will help you register your directors with the MCA (Ministry of Corporate Affairs).[/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/2″][bsf-info-box icon=”Defaults-dollar usd” icon_size=”” icon_color=”” title=”Pick Company Name” hover_effect=”style_3″ pos=”left”]We will help you pick the right company name
[/bsf-info-box][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/2″][bsf-info-box icon=”Defaults-thumbs-o-up” icon_size=”” icon_color=”” title=”MoA & AoA” hover_effect=”style_3″ pos=”left”]We will draft your company’s constitution (MoA and AoA)
[/bsf-info-box][/vc_column_inner][vc_column_inner width=”1/2″][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=”1/3″][ultimate_pricing design_style=”design05″ color_scheme=”custom” color_bg_main=”#54e7b3″ color_bg_highlight=”#54e7b3″ sub_heading_tag=”h2″ package_price=”₹2000″][/ultimate_pricing][contact-form-7 id=”8441″][/vc_column][/vc_row][vc_row full_width=”stretch_row_content_no_spaces” equal_height=”yes” content_placement=”top” el_class=”dt-sc-dark-bg” css=”.vc_custom_1554802605034{padding-top: 5% !important;}”][vc_column width=”1/2″ el_class=”rs_col-sm-12 dt-sc-dark-bg left-right-space” css=”.vc_custom_1496141359781{padding-top: 70px !important;padding-bottom: 60px !important;background-color: #202020 !important;}”][vc_custom_heading text=”Frequently Asked Questions” font_container=”tag:h2|font_size:40px|text_align:left” use_theme_fonts=”yes” el_class=”vcr_float_right”][dt_sc_accordion style=”frame” framed_accordion_type=”type3″][dt_sc_accordion_tab title=”1. Do I need to be physically present during this process?”][vc_column_text css=”.vc_custom_1554901848822{margin-bottom: 0px !important;}”]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.[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”2. How much time is needed for setting up a private limited company in India?”][vc_column_text css=”.vc_custom_1554901871029{margin-bottom: 0px !important;}”]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.[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”3. What are the rules for picking a name for a private limited company?”][vc_column_text css=”.vc_custom_1554901893293{margin-bottom: 0px !important;}”]The Registrar of Companies (RoC) across India expect applicant 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.[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”4. What documents are required to complete the process?”][vc_column_text]All directors must provide identity and address proof, as well as a copy of the PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”5. What is a DSC?”][vc_column_text]The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. As all documents needed are electronic, partners need a DSC.[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”6. Does a private limited company have continuous existence?”][vc_column_text]Yes, so long as the annual compliances are met, the private limited company will continue to exist. If you do not comply with the requirements, it will go dormant, until it is struck off the register altogether.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”7. How much does it cost to run a private limited company?”][vc_column_text]The can be divided into four categories: cost of setting a private limited company, cost of accounting and auditing, cost of compliance and miscellaneous expenses. At the very minimum, you can expect to spend Rs. 40,000 on all of these.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”8. Is it necessary to have a company’s books audited?”][vc_column_text]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 or rupees and even lead to the blacklisting of directors.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”9. What are articles of association and memorandum of association?”][vc_column_text]

These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.

[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”10. Are two directors necessary for a Private Limited Company Registration?”][vc_column_text]Yes, a minimum of two directors are needed for a private limited company. The maximum members can be 200. You can register as a One Person Company, if you are the sole owner of the company.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”11. Who can be the in a Private Limited Company?”][vc_column_text]Any individual/organization can become a member of a private limited company including NRI/foreigners. Nonetheless, the individual must be 18+ above in terms of age and should hold a valid PAN card.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”12. What is the minimum capital needed to form a Private Limited Company?”][vc_column_text]There is no minimum minimum required for starting a private limited company.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”13. Can the director of a private limited company also be a salaried person?”][vc_column_text]Yes, a salaried person can become the director in private limited, LLP or OPC private limited company. One needs to check the employment agreement if that allows for such provisions. In a lot of cases, the employers are quite comfortable with the fact that their employee is a director in another company.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”14. Can the limited liability partnership (LLP) be converted to a Private Limited Company?”][vc_column_text]No, one cannot convert an LLP into a Private Limited Company as it is not a MCA. The LLP Act, 2008 and the Companies Act, 2013, both don’t have any provisions on conversion of the LLP in a private limited company. However, if one wants to expand their business they can register a new Private Limited Company with the same name. The LLP Company needs to just issue a no objection certificate.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”15. What is the time taken by bthawk.com in forming a Private Limited company?”][vc_column_text]We can integrate a Private Limited Company in 15-25 days. The time taken also depends on the relevant documents provided by the applicant and the speed of approvals from the government. To ensure a speedy registration, kindly pick a unique name as the proposed Company name and also ensure that you have all the required documents prior to the starting of the registration process.[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”16. Can NRIs/Foreign Nationals become Director in a Private limited Company?”][vc_column_text]Yes, a NRIs and Foreign National can become Directors in a Private Limited Company. They need to get a DIN from the Indian ROC. They can also be a majority shareholder in the company. Provided at least one Director on the Board of Directors should be an Indian Resident.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”17. Does one have to be present in person for the incorporation of a Private limited Company?”][vc_column_text]The entire procedure is done online and one does not have to be present at our office or any other place for the incorporation. A scanned copy of the documents have to be sent via mail. They get the company incorporation certificate from the MCA via courier at the business address.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”18. A Private Limited Company called a separate legal entity. Why?”][vc_column_text]A company is a legal entity and like a different person established under the Act. It is treated as a different person which can own a property and have debts or creditors. The members (Directors/Shareholders/) of a company have no liability to creditors of a company in a case company is unable to pay the debts.
[/vc_column_text][/dt_sc_accordion_tab][dt_sc_accordion_tab title=”19. Can one register a Private limited company on their home address?”][vc_column_text]Yes, one can register the company at their residential address. One requires to submit the utility bill copy of the same.
[/vc_column_text][/dt_sc_accordion_tab][/dt_sc_accordion][/vc_column][vc_column el_align=”left” width=”1/2″ el_class=”rs_col-sm-12 aligncenter fullwidth-cover left-right-space” css=”.vc_custom_1554800772219{padding-top: 70px !important;padding-bottom: 60px !important;background: rgba(0,0,0,0.9) url(http://localhost/bthawk/wp-content/uploads/2017/05/auditingparallax1.png?id=7994) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;*background-color: rgb(0,0,0) !important;}” addstyles=”background-attachment:fixed !important;”][vc_custom_heading text=”What is a Private Limited Company?” font_container=”tag:h2|font_size:40|text_align:center” use_theme_fonts=”yes” text_transform=”uppercase” css=”.vc_custom_1554901787584{margin-bottom: 0px !important;}”][dt_sc_separator class=”aligncenter”][vc_column_text]

Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.

[/vc_column_text][vc_custom_heading text=”Steps to register company in India” font_container=”tag:h2|font_size:40px|text_align:left” use_theme_fonts=”yes” el_class=”vcr_float_right”][vc_custom_heading text=”Step 1:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Application for DSC (Digital Signature Certificate).[/vc_column_text][vc_custom_heading text=”Step 2:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Apply for the DIN (Director Identification Number)[/vc_column_text][vc_custom_heading text=”Step 3:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Application for the name availability.[/vc_column_text][vc_custom_heading text=”Step 4:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Filing of the EMoa and EAOA to register private limited company[/vc_column_text][vc_custom_heading text=”Step 5:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Apply for the PAN and TAN of the company[/vc_column_text][vc_custom_heading text=”Step 6:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Issued certificate of incorporation by RoC with PAN and TAN[/vc_column_text][vc_custom_heading text=”Step 7:” font_container=”tag:h5|font_size:24px|text_align:left|color:%2354e7b3″ use_theme_fonts=”yes” el_class=”vcr_heading-right”][vc_column_text]Opening a current bank account on company name[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1554801859051{padding-top: 5% !important;}”][vc_column][vc_row_inner][vc_column_inner width=”1/4″][/vc_column_inner][vc_column_inner width=”1/2″][/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][ultimate_spacer height=”30″][vc_row_inner][vc_column_inner width=”1/3″][dt_sc_iconbox type=”type3″ icon_type=”css_class” icon_css_class=”pe-icon pe-diamond” title=”Minimum Compliance” class=”with-shadow”]Greater capital contribution and greater stability
[/dt_sc_iconbox][/vc_column_inner][vc_column_inner width=”1/3″][dt_sc_iconbox type=”type3″ icon_type=”css_class” icon_css_class=”pe-icon pe-graph1″ title=”Simple to Begin” class=”with-shadow center”]Offers liability protection to protect your company’s assets
[/dt_sc_iconbox][/vc_column_inner][vc_column_inner width=”1/3″][dt_sc_iconbox type=”type3″ icon_type=”css_class” icon_css_class=”pe-icon pe-rocket” title=”Economical” class=”with-shadow”]Shields from personal liability and protects from other risks and losses.
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