A private limited company is a highly popular corporate body in India. The private limited company registration in India is governed by the Ministry of Corporate Affairs (MCA). A private limited company is a form of privately owned small business entity that requires a minimum of two shareholders and directors.
To set up a company in India, make sure to register your company under the Company Act, 2013. A registered company can avail various benefits right from an effortless registration to hassle-free dissolving of the company whenever required.
Further, a private limited company offers limited liabilities for its shareholders, restricts its shareholders from openly trading shares, and allows easy fundraising from outside, making it a preferred option for startups and growing companies. Shareholders have the power to provide stock options to their employees thereby attracting top talent into their company
When a private limited company is incorporated it is seen as an artificial judicial person. It is a separate judicial body. As a separate judicial body, a company has the power to buy its assets and even borrow its own funds. On the other hand, the shareholders of the company are liable for its debts only to the extent of shares they own.
In a private limited company, your liability as a shareholder is limited to the extent to the amount unpaid, if any, on the shares held. If the company commits a default, your personal assets cannot be liquidated.
A private limited company being taken as an artificial judicial person, it is protected from any effect due to the retirement, departure, or even death of any of its directors. Your private limited company will continue to exist until you wind it up through legal procedures.
Once you own a private limited company, you acquire a professional image before your vendors and customers, boosting your business valuation. It further gives you a unique identity, increases your trust quotient, opens up new opportunities, and builds a good market for you.
With MyEfilings, registration of a private limited company is quick, easy, and completely hassle-free. Within 10 days you can register your company and start a business.
Once you get a private limited company registration, you can save a significant amount of money on taxes. Dividends have lesser tax deductions as compared to salary, which is why shareholders hold a higher value.
you can select your desired plan and fill an inquiry form for the same.
For Private Limited company registration you need to apply two different names in line with business with the MCA, from which one of the names is selected and approved. You can also use the free name search facility available on the MCA portal. This provides a list of names closely resembling existing companies.
All the promoters should acquire DSC (Digital Signature Certificate) for a Pvt. Ltd. Company Registration. You can get a DSC approval in two days. It is used to digitally sign the e-forms.
The form for the Incorporation of a company is filed online.
It will take you only 10-15 days to get a private limited company incorporated. Once you get it incorporated you will obtain a certificate as proof of your company formation.
Congratulations!!! As a private limited company, you are ready to work and take your business to great heights of excellence!
It is mandatory to maintain compliance under various regulations by all the LLPs registered in India.
Failure to adhere to the same may result in huge penalties and even disqualification of the designated partners.
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