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OneClick Business Solutions

REGISTER A PRIVATE LIMITED

in just 8,000/- (inclusive of all taxes & fees)

Keynotes on Private Limited Registration

Private Limited Company in 10 to 15 days.
Completely online service - No physical presence required.
No minimum capital requirement.

PRIVATE LIMITED REGISTER

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HOW TO REGISTER PRIVATE LIMITED COMPANY / WHAT IS PRIVATE LIMITED COMPANY ?

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. We are providing services all over India thats Delhi, Kolkata, Up, Uttarpradesh, Agra, Uttarakhand, Punjab, Rajasthan, Himachal Pradesh, Lucknow, Rajasthan, Jaipur, Varanasi, Haryana, Udaipur, Jodhpur, Jharkhand, Assam, Gujarat, Vadodara, Noida, Jaipur, Chhattisgarh, Dehradun, Haryana and Kerala.

7 Reasons to Register a Private Limited Company

Documents Required For Private Limited Registration

Documents Required For Private Limited Registration

Process Of Private Limited Registration

Reserve Unique Name (RUN) Form -

Incorporation of a company can be done with prior name approval or using SPICe form, wherein incorporation certificate is provided if name is acceptable to the MCA. Entrepreneurs who wish to incorporate a company with a unique name can directly file for incorporation using SPICE form, saving time and money. On the other hand, if an Entrepreneur wants to incorporate a company with a name that could be similar to an existing company or LLP or trademark, then prior approval can be obtained from the MCA for use of name.

Before RUN Web-Form -

Before the introduction of RUN web-form, application for reservation of name was to be made in Form INC-1 with upto 6 choices of name. Further, to apply for reservation of company name, a minimum of 2 Director Identification Number and 1 Digital Signature were required.

After RUN Web-Form -

With the introduction of RUN web-form, a company name can be reserved quickly and easily even before obtaining a digital signature. However, only one name choice can be provided at a time. The fee for name reservation using RUN web-form is Rs.1000 per form submission – irrespective of whether the name is approved or not.

To apply for name using RUN web-form, the Entrepreneur must first create a free MCA account. After logging into the MCA account, the Entrepreneur can choose the type of company to be registered and provide one name choice and check against the MCA database of company and LLP names.

Its very important to note that the MCA RUN system only checks for identical LLP and Company names. However, Companies Incorporation Rules, 2014 states that a company or LLP cannot be registered with an identical or similar name to that of an existing company, LLP or trademark. Hence, the quick check system, even if it shows a name is available does not guarantee name approval.

On submission of the RUN form with a Rs.1000 fee, the requested name would be checked by MCA personnel at the Central Registration Centre (CRC) against company, LLP and trademarks for tests of similarity. If the name is unique and conforms to the Companies Act 2013, name approval would be provided by the MCA and the applicant would be intimated through the email address mentioned on the MCA account.

Director Identification Number for Incorporation -

All Director in a Company must have a valid Director Identification Number (DIN). Earlier, DIN could be obtained by any person by filing Form-DIR3 or through the SPICE form while incorporating a company. From 2018, the process for generating DIN has been divided into the following two categories :

  DIN Application with SPICE -

Any person who wishes to incorporate a new company can now apply for DIN only through the SPICE form. Hence, the details of Directors for whom DIN is to be allotted on incorporation must be filled into the SPICE form along with their PAN or Passport details. On incorporation of a company, DIN would be allotted for each of the Directors who did not have DIN.

In case a person having DIN is incorporating a new company, SPICE form must still be used and DIN can be entered where ever applicable.

  DIN Application using Form DIR-3 -

From the 26th of January 2018, DIR-3 form can be used only by existing companies for adding a Director. The new DIR-3 form has provisions requesting the CIN of the Company to which the Director would be added and a declaration that the DIN is being obtained for adding the person as a Director to the company mentioned. Hence, care must be taken by Professionals to ensure that DIN is not wrongly obtained for a proposed Director of a new company.

Zero Fee for Incorporation -

The MCA in an effort to simplify the company incorporation process and spur new Startups has announced zero fee for incorporation. Hence, Entrepreneurs would be able to save a few thousand rupees on incorporation fee. Though zero fees has been announced for the SPICE form, eMOA and eAOA – stamp duty would still be applicable for incorporation as before depending on the state of incorporation.

Advantages & Disadvantages of Private Company Registration

ADVANTAGES OF PVT CO. REGISTRATION

No minimum capitalNo minimum capital

Secure personal assetsSecure personal assets

Best way to start business in IndiaBest way to start business in India

Raise funding whenever neededRaise funding whenever needed

DISADVANTAGES OF PVT CO. REGISTRATION

Cannot accept depositsCannot accept deposits

Strict compliancesStrict compliances

Yearly compliance costYearly compliance cost

Bank finance not availableBank finance not available before 2 years

Frequently Asked Questions

Ques: Can I convert my existing business into Private Limited Company?

Yes, you can upgrade your existing business into a corporate identity. However, your business can be converted into the private limited company which is a complex procedure. You can contact our executive for further knowledge on this procedure.

Ques: I am currently working in a Company and earning the salary income, can I register a Company in India? Or Can I be a director in that Company?

Yes, you can register a company in India however; you cannot be the director in the company. You can only be the shareholder in the company. Further, you can be appointed as director only if your employment contract allows you to.

In case of your employment contract is silent, you can ask your HR department in this behalf.

Ques: What is a yearly maintenance cost for Private Limited Company in India?

The average cost of yearly maintenance of Private Limited Company is between 10,000 to 15,000 depends upon your turnover. However, in case you are zero turnover company, you average maintenance cost would be around 8000 to 10,000/-.

Ques: Can NRI's/Foreign register Company in India without actually coming to India?

Yes, as per the existing provisions of law, it is possible to register company in India without even visiting to India. In this case, all the documents of the NRI or the foreign national is notarized at notary public or at Indian embassy as per the respective requirement.

Ques: Can NRI's/Foreign national become a director in Private Ltd Company?

Yes, a NRI or a foreign national can become the director in the private limited company, subject to the condition that out of all the directors' atleast one director should be resident in India for more than 182 days.

Apart from one condition above, there is no other condition attached to it.

Ques: How to Select Name for Private Limited Company? with examples

The company name selection should be done on the basis of company name structure. The Company name should start with your brand name e.g One Click is our brand name (Trademark filed) and hence we have registered One Click Business Solutions Private Limited. Likewise, in case of SHYAM Steel limited, SHYAM is the brand name.

The second part of the Company name denotes its objective. Like in case of SHYAM Steel Limited, steel denotes its steel business. The last part of the Company name ends up with Private Limited. No company can be registered without having Private Limited or limited at the end.

Ques: What is the minimum capital amount required to register a company in India?

After Amendment of Companies Act 2013, the requirement of minimum capital to form a private limited company in India has vanished. Now,There is no requirement of minimum capital, as the government has done away with the requirement of having the minimum share capital. Now any person can form a company with any amount as per his choice.

Ques: What is a difference between directors and shareholders?

Shareholders are the person who holds the shares of the company and are considered as the ultimate owner of the company. The more the number of shares you hold, the more you have control over the business.

Directors, on the other hand, are the employees of the company who runs the company on behalf of the shareholders. Directors and Shareholders can be common person too.

Ques: How many people are required to register Private Limited Company in India?

The minimum requirement to start a private limited company is two person which can be increased to a maximum of 200 people. Further, in case you are a sole person and wants to start a private limited company, then you can choose to register a One Person Company (OPC). OPC is a type of private limited company which can be formed with only one director/shareholder/member.

Ques: Why should startup register Private Limited Company in India?

Startup are the innovative category of business man who wants to grow very fast within a short span of time like the previous startups did like Flipkart, Ola, PayTM, etc. They could only become so big because they were able to raise the capital in a timely manner.

Private Limited company is the ideal form which supports funding requirement of the business with a corporate identity. Hence, in case you have plans to raise funding and wants an organised and best form of business, choose Private Limited Company in India.

Ques: What do you mean by incorporation of Private company under Companies Act, 2013?

Incorporation is another word for Private Company registration in India. The word incorporation is generally used in connection with company registration in India.




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