Private Company Registration

PRIVATE COMPANY REGISTRATION | ONLINE PRIVATE LIMITED COMPANY REGISTRATION | TRIJURIS

In this article, we will learn about private company registration or online private limited company registration in India, documents required for online company registration in India, and fees for PVT LTD company registration.

INDEX OF CONTENTS

  1. Introduction;
  2. Other forms of business in India;
  3. Advantage of private company registration;
  4. pvt ltd company registration documents;
  5. Process of online private limited company registration;
  6. FAQ.

INTRODUCTION

In order to start a new business, there are lots of forms to start with, however, a private limited company is the most popular form, if you are thinking to start your business. A private company is a legal entity registration of which is governed by the Companies Act, 2013 and rules as prescribed thereunder. The best advantage of registration of a private limited company is that it is easy to raise funds from the market, creditworthiness, flexibility and there are other advantages as well.

The definition of the word “private limited company” has been provided under Section 2 (68) of the Companies Act, 2013. Ministry of Corporate Affairs (hereinafter referred to as the MCA) has simplified the process of registration of the private limited company by introducing the SPICe+ form. The full form of SPICe+ is Simplified Proforma for Incorporating Company Electronically. This form is a web-based integrated form wherein Name reservation, allotment of DIN, PAN, TAN, ESI, EPF, and even GST registration can also be applied.  

For online private limited company registration or private company registration in India minimum of 2 persons are required. MCA has ease down the whole process after introducing SPICE+ and AGILE-PRO forms. Due to this initiative, the whole process of online registration of PVT LTD companies becomes very easy. The process is fully online and no needs to submit any documents in person.

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274

WHAT ARE THE OTHER FORMS OF BUSINESS IS THERE IN INDIA?

1. Public Limited Company

REGISTRATION OF PUBLIC LIMITED COMPANY is being governed by the Companies Act 2013 as amended from time to time. It contains a minimum of 3 directors and has a separate legal entity. The person interested in forming a public limited company needs to file the SPICE+ form. We help in incorporating a Public Company. Let’s Connect!

READ MORE AT: https://www.trijuris.com/public-company-registration/

2. Limited Liability Partnership (LLP)

LLP is different from a partnership firm as it is a registered form and the liabilities are limited to the capital as contributed by the partners. It is much advisable to form an LLP as compared to a partnership firm as the LLP can easily do such activities which a partnership firm cannot do. For Registration Process of Limited Liability Partnership (LLP) in India, go to the below link:

READ MORE AT: https://www.trijuris.com/llp-registration/

3. One Person Company (OPC)

OPC form is a very interesting form of doing business. In OPC one can start a business easily without the need of any second person although 1 nominee is required however, in this form all the decisions are being taken by one person only and not through mutual concern. One can connect us to register an OPC Company. For Online One Person Company (OPC) Registration, go to the below link:

READ MORE AT: https://www.trijuris.com/opc-registration/

Latest updates dated: 07/06/2021

The Companies (Incorporation) 4th Amendment Rules, 2021

A new AGILE-PRO-S Form- INC-35 has been launch by Ministry of Corporate affairs (“MCA”).

Registration of Shops and Establishment is now made mandatory.

Under Rule 38A of the Companies (Incorporation) Rules, 2014, – the aforesaid related changes are being made.

Here is the link to MCA: https://www.mca.gov.in/bin/dms/getdocument?mds=r2JGVOj52RJgsqksMI8Hqw%253D%253D&type=open  

FAQs ON SPICE+ https://www.mca.gov.in/bin/dms/getdocument?mds=X3cH6uXGzZNpF8Q%252F49dYAg%253D%253D&type=open

REQUIREMENTS FOR PRIVATE COMPANY REGISTRATION

Before Online Private Limited Company Registration or PVT LTD Company Registration, the following requirements need to be fulfilled:

  1. As already discussed there must be at least 2 persons who are required for registration of Private Limited Company;
  2. These persons shall be known as the directors of the company;
  3. The maximum number of members in a private limited company can be 15 directors;
  4. One out of 2 people who are acting as a director must of Indian national and Indian resident
  5. At least one registered office of the company must be there from where all the operation shall be in force
  6. DSC (Digital signature certificate) and DIN(Director identification number) are also the requirements for registration of a private limited company. Read more at https://www.trijuris.com/digital-signature-certificate/

ADVANTAGES FOR PRIVATE COMPANY REGISTRATION

Perpetual successionAs the private limited company has a separate image in the eyes of law the company enjoys perpetual succession.   Member may come or member may go however the company can be operational forever.
No minimum capital requirementA few times back it was a compulsion on a private limited company to have a minimum paid up capital of at least 1 lakh however now this requirement has been taken away and now it is optional.
Limited liability of the memberIn the case of a Private Limited Company, the liability of members is limited to the share introduced by them and no personal assets can be affected in case of any uncertainty.
Transferability of sharesIn a private limited company, there is no restriction on the transferability of shares. Hence, the same can easily transfer to anybody.
NameYes! It is mandatory for all private limited company to affix the word “Private Limited” at the end of its name e.g ABC Private limited, XYZ private limited, etc.,
Advantage of pvt ltd company registration

LIST OF DOCUMENTS REQUIRED FOR ONLINE PRIVATE LIMITED COMPANY REGISTRATION OR PVT LTD COMPANY REGISTRATION

Signed copies of the following documents are required for private company registration:

For ID proof of proposed directorsPAN card for Directors of the Indian nation Passport  for Foreign Nationals
For address proof of proposed directorsAadhaar card/Passport/Voter ID card/Driving license/Utility Bill/Rent agreement/bank statement 
Utility bill shall not be older than 2 months
Address proof of the registered office of the companyRent Agreement, NOC/Lease Deed/Sale deed (Owned property)
  Passport size photos of all proposed directors
PVT LTD company registration documents
FOLLOWING STEPS NEEDS TO BE TAKEN FOR PRIVATE COMPANY REGISTRATION

Here are the steps, in brief, to be ensured for the registration of the private limited company

Step 1: Obtaining of Digital signature certificate (DSC)

Step 2: Obtaining of Director Identification Number (DIN)

Step 3: Checking of name availability

Step 4: Preparation of MOA, AOA, and other documents

Step 5: Filing of form for registration of a private limited company

Step 6: Liaisoning with the Registrar of Companies for getting the incorporation certificate 

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274

Let’s understand these steps in a detailed manner:  

STEP 1: OBTAINING OF DIGITAL SIGNATURE CERTIFICATE (DSC)

Digital Signature Certificate or DSC is a very important certificate it is in the form of a pen drive also known as a token wherein a certificate is inserted, basically it is used to sign online applications and/or documents. It is one of the mandatory requirements for subscribers of the memorandum of association and articles of association. DSC is issued by certifying agencies. Now it is mandatory to obtain Class 3 DSC only for the signing of all applications and Class 2 DSC has been taken away. For obtaining class 3 DSC you can contact us.

Time limit: DSC can be prepared within 1 to 2 days.

STEP 2: OBTAINING OF DIRECTOR IDENTIFICATION NUMBER (DIN)

Like PAN identifies a person DIN identify director it is basically an identification number issued by MCA and One DIN is sufficient for a director. If you want to be a director in a company you need to take DIN without which you cannot be a director in a company. For obtaining DIN you just need to provide the identity as well as address proof 

Time limit: The same can be obtained within 1 to 2 days.

STEP 3: CHECKING OF NAME AVAILABILITY

For checking the availability of names there are two options. The first is to file a RUN form and the second is to apply in SPICe+. Let’s discuss it in detail:

Option I: As discussed the name availability can be checked in via Reserve Unique Name (RUN) form. It is basically a web-based form for filing of availability of names. Initially, only 1 attempt was allowed and no other chances were given except if someone has something to complied with the rules ie., Companies Incorporation Rules.

It is to be noted that DSC as well as DIN as discussed above are not required for filing the RUN application form. The government fees of filing of RUN application form is 1000/- and the same fees shall be charged in case of re-filing of the RUN application form.

It is to be noted that MCA in the year 2018 decided to relax the norms and provided 2 proposed names that can be applied in the RUN application form.

Option II: Apart from the first option the second option is to apply the name through the SPICe (INC-32) form however, it is to be noted that only one proposed name can be applied through this form. In this form, one more chance is provided to the applicant in case of non-approval of the name.  

Time limit: This process takes around 1 to 2 days to complete

STEP 4: PREPARATION OF MOA, AOA, AND OTHER DOCUMENTS

MOA and AOA are the most crucial documents and hence, due consideration must be given before preparation of these documents, and experience professionals must be approached. These are the charter documents of any company. In order to simplify the process of registration MCA has introduced e-MoA and e-AoA. e-MoA stands for electronic Memorandum of Association and e-AoA is electronic Articles of Association. To be very specific, AOA governs the internal affairs of the company and MOA governs the represents the charter of the company ie., an external relationship of the company. e-MoA and e-AoA are just like other forms and they shall be attached with the SPICe form for registration of the private limited company

STEP 5: FILING OF FORM FOR ONLINE PRIVATE LIMITED COMPANY REGISTRATION OR PVT LTD COMPANY REGISTRATION

Once all the other steps are completed one can proceed for filling and filing of an application for registration of a private limited company in form SPICE+ which is a web-based integrated form and this form shall contain SPICe_MOA, SPICe_AOA, AGILE- PRO and INC-9 forms before the filing of form other details like details of directors and subscribers shall also be filled in the form.

The requisite Stamp duty needs to be paid by the applicant which is varying from state to state. All the forms need to be digitally signed and after uploading all the forms and attach your application has successfully been submitted. DSC of professional is also required to be attached with this form for certification purposes. The Advocates, CA, CS CWA are the professional who can certify the form

STEP 6: LIAISONING WITH THE REGISTRAR OF COMPANIES FOR GETTING THE INCORPORATION CERTIFICATE 

This is the final step for registration of a private limited company, after filing of aforesaid forms and documents if there is any concern being raised by the Registrar of Companies (“RoC”) the same shall be resolved by reverting to the concern being raised, once it is done and accepted by the RoC certificate of incorporation of the company shall be provided by the RoC.   

FAQ on Online Private Limited Company Registration

Ques: 1. How to register a Private Limited Company?

It is easy to start a private limited company. A time of 3 to 4 days is required for registration of Private Limited Company. We just need a time of 1 day in order to prepare all the documents.

Ques: 2. How many people are required to incorporate a private limited company?

It is to be noted that a minimum of 2 persons are required in order to incorporate a private limited company.

Ques: 3. What is the meaning of limited liability in case of a private limited company?

Under the limited liability feature, the person’s liability is limited to the amount being introduced in a company by the applicants. Unlike in proprietorships and partnerships wherein the liability is unlimited and personal assets can also be attached in case of any uncertainty arise. 

Ques: 4. Can a registered office of the company be at a residential property?

The answer is Yes! The registered office of the company can be on residential property.

Read our other articles:

  1. ROC compliance checklist for Private Limited companies 2021: https://www.trijuris.com/annual-compliance-for-private-limited/
  2. Trademark registration process (step by step) in India: https://www.trijuris.com/trademark-registration/
  3. A Step-by-Step Guide to GST Registration Procedure in India: https://www.trijuris.com/gst-registration/
  4. One Person Company (OPC) Registration: https://www.trijuris.com/opc-registration/
  5. HR policies for a startup company in India: https://www.trijuris.com/hr-policies/

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274

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  1. Best service provider for PRIVATE COMPANY REGISTRATION or ONLINE PRIVATE LIMITED COMPANY REGISTRATION

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