A private limited company is a privately owned small business entity. The number of shares held by a member for which the members are liable in a private limited company is limited. A private limited company is governed by the Companies Act, 2013. The minimum number of shareholders to start a private limited company is two while the members are 200 as per the Maximum Companies Act, 2013.
If a private limited company faces financial risk, its shareholders are liable to control their liability which means they are not responsible for selling their personal assets. A private limited company must have a minimum of two directors and a maximum of 15 directors and a director must be at least 18 years of age or older. A foreign national private limited company can become a director of India.
It is mandatory to add a Private Limited (Pvt) Ltd in the name of a Private Limited Company India. The minimum paid-up capital for a private limited company is Rs. 1 lakh. Even a private limited company will continue to be on the verge of death or bankruptcy of its members. Read more for pvt company registration!
Documents for registration of a private limited company should provide the following mentioned documents:
- Share the amount of share capital and the proposed ratio.
- A brief description of the company and business.
- Name the city where the company’s registry office is located.
- Ownership and Sale Deed (in your own preface in case).
- Proof of Identity of Directors and Shareholders (Permanent Account Number Card).
- Address proof (electricity bill, telephone bill etc.) at the registration office
- (Driving Voter ID, Passport, License etc.) Address Director or Partner Proof
- A copy of the latest electricity bill, phone bill, or mobile bill for the director.
- Directors as well as shareholders occupation details.
- Email address of directors and shareholders.
- Contact Details of Directors and Shareholders.
- Passport size photo of directors and shareholders.
- Case Property is for rent You must submit a copy of the lease agreement with the Certificate of Deed (deed) from the landlord.
- Affidavits may not be allowed to be admitted.
- Smart original subscribers change seamlessly.
- MOA and AoA subscriber sheets.
- Company Permanent Account Number Card.
- In case you are a foreign national subscriber you must provide proof of citizenship.
Advantages of Private Limited Company
- Limited Liability
Private limited company is a separate legal entity in which the liability of the members of the private limited company is limited only to their shares. Limited liability means that there is no need to spend their personal assets to pay the liabilities in the context of a separate company.
- One of those significant advantages is that the legal limited entities are governed by the law of a different
limited entity organization. This difference is provided by them in the occurrence of a private limited company, as you are responsible for the diversified effort process yourself.
- Easy to
set up It is a very easy process to set up or start a private limited company. The operation is very simple compared to the creation of public sectors.
can be borrowed from bonds as well as shareholders as defined by the private company. The bank and other financial institutions provide more assets than other platforms in other public sector entities.
- Many tax benefits
A private limited company enjoys more tax breaks than the public sector. Here the corporation does not pay taxes and is exempt from paying high taxes.
- You can not even get such a law firm compared to private limited companies in the public sector to get many opportunities .
- Internationational go
private limited company is the only type of company that allows foreign investment in other companies or sectors that require foreign licenses and approvals from the government.
- The reserve
is the lifetime balance of the private limited company.
Private limited companies are tangible on a non-shareholder basis.
Thus, you might have now known about the private limited company registration, the documents required and the advantages. If you are willing to establish it, start working now!