Eligibility for Pvt Ltd Company Registration

Are you looking for Private Limited Company Registration, but various legal compliances associated with it daunts you?

In this article we will try to cover each aspect of the Private Limited Company Registration and matters related thereto:

Key take aways of this article:

•  Meaning of Private limited company
•  Private limited company registration under Companies Act, 2013
•  Eligibility for Pvt Ltd Company Registration
• Private limited company registration process
•  Documents for Private limited company registration
•  Private limited registration fees in India

What is a Private Limited Company?

In general sense, a Private Limited Company is a form of Company Registration in which entire shareholding is held by small number of people (Maximum 200) and restricts shareholders from trading shares publicly.

Private Limited Company Registration under Companies Act, 2013

Company registration including “Private Limited Company Registration” is governed by the Companies Act, 2013. Registrar of Companies (ROC) is the authority under Ministry of Corporate Affairs (MCA) which regulated the procedure for Pvt Ltd Registration Online.

Eligibility for Pvt Ltd Company Registration

The following are the eligibility requirements for Online Company Registration in India including Pvt Ltd Company Registration

• Minimum 2 members and maximum 200 members
•  Non residents and foreigners are allowed for Private Limited Company Registration in India.
• It should have unique name
• There should be minimum 2 and maximum 15 directors. More than 15 directors are allowed subject share holders approval through special resolution.
• Requirement of DSC of all the subscribers and first directors.

Private Limited Company Registration Process

Private Limited Company Registration Process consists of:

·       Obtaining Digital Signature Certificate (DSC) of Directors and Subscribers

·       DIN application for Directors

(Note: DIN up to 3 directors can be applied for in Pvt Ltd company registration application form (SPICe Plus form)

·       Checking Private Limited Company Registration Name Availability on MCA portal and public search of trademark portal i.e. https://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx and applying for Private Limited Company name reservation application.

·       Application for “Private Company Registration Online” along with all attachments.

·       Payment of Private Company Registration Fees

·       Obtaining Certificate of Incorporation (COI)

Documents for Private Limited Company Registration

As of now you are aware of Private Limited Company Registration Process the next is to know about the private limited company registration documents, these are listed below:

·       Self-attested copy of PAN card and Aadhar Card of Subscribers to MOA and Directors.

·       Self-Attested copy of Bank Statement or Utility Bill (should not be older than 2 months) as present address proof of Subscribers and Directors.

·       Self-Attested copy of Voter ID/ Driving License/ Passport as permanent address proof of subscribers and directors.

·       Consent Letter in form DIR-2 and declaration as to non-disqualification and interest in other entities in form DIR-8 for first directors.

·       Rent agreement/ NOC from owner and utility bill for Private Limited Company Registered Office address.

·       Details regarding the share capital of the company including the authorised share capital and paid-up share capital of the company.

·       Details about the business activity and NIC code of business activity of the company.

Private Limited Registration Fees in India

The Cost of Private Limited Company Registration consists of following:

·       Cost of DSCs of Subscriber and first directors: It may cost around1000 per DSC. Rest it depends upon the discretion of DSC issuing agency and location of the agency.

·       Fees For Name Reservation: Rs 1000 per Application, however this cost can be saved if application is filed in integrated form SPICe plus along with incorporation application.

·       Stamp Duty Fees: It depends upon the Authorized Share Capital of the company and the state where Private Limited Company Registered Office is proposed to be situated.

·       Payment For PAN And TAN: Government fees for Rs. 65.00 and Rs. 66.00 for allotment of PAN and TAN.

·       Fees for Company Registration Consultant: For incorporation of OPC consultation and professional certification of CA/CS/CMA in practice is required, the professional charges for which are subject to their discretion.

FAQs on Private Limited Company Registration in India

1.    How to register a private limited company?

Ans. Private limited company registration can be done by filing online application along with all the attachments on MCA portal after login i.e. https://www.mca.gov.in/content/mca/global/en/foportal/fologin.html. After due verification application for registration of private limited company either gets approved or asked for re-submission or get rejected.

On approval of application Certificate of incorporation gets generated.

2.    What are the private limited company registration requirements?

Ans: The requirements for Private Company Registration in India:

·       Proposed Name: Private limited company shall have a name duly approved by CRC a wing of Registrar of Companies.

·       Members: Minimum two (2) and maximum two hundreds (200) members can be shareholders of a private limited company.

·       Directors: There shall be at least 2 and a maximum of 15 directors for Private Company Registration in India. However, after passing Special Resolution more than 15 directors can be appointed.

·       Registered office: Private Limited Company Registered Office shall be situated in India and shall be intimated to ROC within 30 days of incorporation in form INC-22.

·       Share capital: Private Company Registration can be done with any amount of share capital. The minimum capital requirement of one lac rupees has been done away.

·       Object: Private Limited Company should have a valid object and objects ancillary to it for which company has got incorporated. It will be appropriate to select the correct NIC at the time of filing name reservation or company incorporation.

·       Professional certification: To incorporate a private limited company, Certification of Company Registration Consultant such as CS/CA/CMA in Practice is mandatory.

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