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PVT LTD COMPANY REGISTRATION: A STEP BY STEP GUIDE
In India, registering a private limited company is a popular choice for startups and growing businesses due to its legal flexibility, limited liability protection to founders, high market credibility and flexible structure. This comprehensive guide walks you through the process of registering a Pvt Ltd company in India, covering key steps, required documents, costs, benefits, and addressing frequently asked questions.
DIFFERENT TYPES OF COMPANY REGISTRATION IN INDIA
In India, apart from a private limited company, there are other types of company registrations, however Pvt Ltd company incorporation holds the highest trust score in the minds of your customers, vendors, employees, investors and bankers. Each type has distinct features, benefits, and compliance requirements. You can watch a detailed video after submitting the above
- One Person Company (OPC): One person company registration is ideal for single entrepreneurs. OPC allows a sole individual to own all the shares in the company and manage the business.
- Limited Liability Partnership (LLP): LLP registration combines the flexibility of a partnership with the benefits of limited liability for its partners.
- Public Limited Company: Suitable for large-scale businesses, it allows the company to sell shares to the public.
- Section 8 Company (Non-Profit Company): Suitable for non profit NGO organisations. By incorporating a Section 8 Company
There are other types of businesses like proprietorship and partnership firms that are not a Company and have a low trust score in the market.
HOW TO REGISTER A COMPANY IN INDIA?
Company Registration Process & Steps: You can also watch a detailed video by submitting the above
Registering a Pvt Ltd company in India involves a different legal process that can be broken down into the following steps:
- Filling a Questionnaire: Once you submit the above , you may need to fill a simple one page Questionnaire to start the Company incorporation process.
- Arranging of Founders or Directors Documents: The directors and shareholders need to arrange for simple proof documents as given below in detail to start the process
- Preparation of Signing Documents: The legal team will check the documents provided by the directors and shareholders and prepare the incorporation documents for signature of the directors and shareholders.
- Digital Signature Certificate (DSC): The first step is obtaining DSCs for the proposed Directors of the company. This is essential for electronically signing documents.
- Name Application & Approval: The company’s proposed name must be unique and suggestive of its business. It can be verified and applied for through the Ministry of Corporate Affairs (MCA) portal.
- Memorandum of Association (MoA) & Articles of Association (AoA): Drafting and submitting the MoA and AoA, which outline the company’s object and internal rules and byelaws, respectively.
- Incorporation Application: File the incorporation application (SPICe Form) along with the necessary documents to the MCA. This form also covers PAN and TAN applications for the company.
- Approval and Incorporation Certificate: After verification, the Registrar of Companies (RoC) will issue the Certificate of Incorporation, marking the formal existence of the company.
- Director Identification Number (DIN): Every Director must have a DIN. It can be obtained by filing an application online.
- PAN & TAN number: Along with the company incorporation certificate you will also be allotted a Company PAN and TAN/TDS number
- Bank Account: Open a bank account in the name of the company to start operations.
DOCUMENTS REQUIRED FOR COMPANY REGISTRATION
The following documents are needed for registering a Pvt Ltd company in India:
- Passport-sized Photographs of the directors.
- Identity Proof of Directors and Shareholders: PAN card for Indian nationals and passport for foreign nationals.
- Address Proof: Aadhar card, voter ID, passport, or driving license.
- Residential Proof: Recent utility bills or bank statements.
- Registered Office Proof: Rent agreement and NOC from the landlord if rented, or ownership documents if owned.
COMPANY REGISTRATION FEES, COST, & CHARGES
The cost of registering a Pvt Ltd company in India varies based on several factors such as the number of directors, share capital, and professional fees.
The basic government fees include:
- DSC Token: Fee per DSC application.
- Name Reservation: Fee for reserving the company name.
- Form Filing Fees: Fees for filing incorporation forms.
- Stamp Duty: Varies based on the state of incorporation.
Additional costs include professional fees for legal documentation.
BENEFITS OF COMPANY REGISTRATION
Registering a Pvt Ltd company offers many advantages:
Limited Liability Protection to Directors personal assets
Many times startups need to borrow money and take things on credit. In case of normal Partnerships, Partners personal savings and property would be at risk incase business is not able to repay its loans. In a private limited company, only investment in business is lost, personal assets of the directors are safe.
Better image and credibility in Market
Private limited company is popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship or normal partnerships.
Easy to raise funds and loans
Pvt. Ltd. company enjoys wide options to raise funds through bank loans, Angel Investors, Venture Capitalists, in comparison to LLPs and OPCs.
Favorite Business structure for Investors
Investors love to invest in Private Limited companies as it is well structured and less strings attached. Most important it is very easy to exit from a private limited company.
Easy to attract Employees
For startups putting together a team and keeping them for long time is a challenge, due to confidence attached to private limited structure, it is easy to hire people as well as motivate them with corporate designations and stock options.
Easy to Sell
Private Ltd. is easy to sell, very less documentation and cost is involved in selling a Pvt. Ltd. company.
MINIMUM REQUIREMENTS FOR PVT. LTD. REGISTRATION
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FAQ ON PRIVATE LIMITED COMPANY REGISTRATION
Company registration in India is a legal process where a business is officially recognized as a company under the Companies Act, 2013. It ensures legal protection, brand identity, and financial and legal advantages.
To register a company in India, you need to choose a company name, obtain a Digital Signature Certificate (DSC), Director Identification Number (DIN), file for incorporation, and submit relevant documents to the Ministry of Corporate Affairs (MCA). To get started, please fill the above quote form and speak with our Business consultant.
A Private Limited Company (Pvt Ltd) is a business entity held privately, with the owners holding limited liability. It restricts the transfer of shares and limits the number of shareholders to 200.
Pvt Ltd registration offers benefits like limited liability protection, separate legal entity status, ability to raise equity funds, and perpetual existence.
Key documents include proof of identity and address of directors, a registered office address proof, Memorandum of Association (MoA), and Articles of Association (AoA).
The cost varies based on several factors but generally ranges from INR 10,000 to INR 30,000.
CIN is a unique identifier assigned to a company registered in India, indicating its type, state of registration, and year of incorporation.
Yes, a foreign national can be a director of an Indian company, provided they obtain a Director Identification Number (DIN) and comply with relevant regulations.
There is no minimum capital requirement for Pvt Ltd registration in India as of 2020. However, it is suggested to have an authorized capital of at least Rs. 20,000 to cover up the incorporation expenses.
Share capital represents the amount invested by shareholders and is crucial for company operations and expansion.
You can check the registration status on the Ministry of Corporate Affairs (MCA) website using the company’s name or Corporate Identity Number (CIN).
A Pvt Ltd is a privately held business entity, while a Limited Liability Partnership (LLP) combines features of partnerships and private limited companies, offering flexibility and limited liability.
Having a company seal is not mandatory for Pvt Ltd companies in India as per the latest changes in laws.
No, a Private Limited Company requires a minimum of two directors and two members. Recently in India, you can go for a One person company registration , which is similar to private limited company, however, a single shareholder can own all the shares of the Company, unlike a private limited company.
Annual compliance includes filing annual returns, financial statements, income tax returns, and holding an Annual General Meeting (AGM).
No, a Pvt Ltd company cannot issue shares to the public as it is prohibited from doing so. Only a public limited company is allowed to issue shares to the public based on stock exchange listing requirements.
A Company Secretary (CS) ensures regulatory compliance, maintains records, and advises the board on governance.
Even a Chartered Accountant can be involved in the incorporation of a Company.
Auditors examine financial statements, ensuring accuracy and compliance with accounting standards and laws.
DIN is a unique identification number required for anyone who wants to be a director in an Indian company.
DIN can be obtained by filing an application online on the MCA portal along with identity and address proof.
A DSC is a secure digital key token for signing documents electronically, required for filing company registration forms.
Yes, a Pvt Ltd company can be converted to a public company by fulfilling certain requirements and procedures.
Directors are responsible for the company’s operations, compliance with laws, and fiduciary duties to shareholders.
Yes, a salaried person can become a director, but they should check their employment contract for any restrictions.
A company name can be reserved through the RUN (Reserve Unique Name) service on the MCA portal.
MoA is a legal document outlining the company’s objectives, and scope of operations. These are standard legal documents prepared by Company Secretaries during registration of the Company.
AoA defines the company’s internal management rules and procedures. These are the byelaws or rules based on which important matters of the company or meetings is decided
Modification requires passing a special resolution in the shareholder’s meeting and filing the appropriate forms with the MCA.
Yes, a Pvt Ltd company can own property in its name, separate from its directors.