Private Limited Company
Get your Startup a Corporate Status today! Register Private Limited Company in quick and affordable way
(Package start at Rs. 10,999/- all inclusive govt. fees and taxes)*
Package is inclusive of
- DIN No. for two Directors
We will secure DIN no. for Two Directors with Digital Signatures (DSC)
- Name Search and Approval
Help you pick the right name of Company and register with MCA
- MOA and AOA
We will draft legally vetted MOA and AOA Constitution agreement
- Company Registration
Finally, your Company is incorporated and we shall get the registration Certificate
- Company PAN and TAN
We will obtain PAN and TAN for the Company with every incorporation.
* Prices vary for certain states and subject to authorised capital of company due to varied govt. fees
What is Private Limited Company?
Startups prefer to incorporate Private limited company to avail fund raising by issue of shares to Angel investors, Venture Capital fund etc. Thus Private limited structure is most sought after in the startup world.
Private Limited Company requires minimum 2 directors and minimum 2 shareholders (both can also be the same person) with starting authorised capital of Rs.1 Lac, however none of them needs to be actually paid up. Cost of incorporation and compliance also depends upon Authorised capital decided by the promoters, as govt. fees vary based on quantum of capital.
Company structure provides host of benefits like they can issue equity/preference shares to investors for fund raising, grant ESOPs to employees and can have various external shareholders as well. However, their shares do not trade in stock exchanges and are not issued through public issue. Further, Company being independent legal entity has its own legal standing and can own assets, sue other or be sued as well.
A private limited company has the limited liability of members. Further, liabilities of Directors are limited to third parties in the event of defaults/ breaches. Personal assets of directors are not liable to settle debts owed by the company. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity.
The process of starting up of Private limited Company includes mandatory requirements to have Director Identification Number (DIN), DSC for Directors, MOA and AOA to needs to be in place and necessary ROC compliances needs to be adhered by Company.
India Kickstart team possess professional expertise in incorporating all forms of Company, OPC, LLP and manage your business with professional handholding and beyond expectation customer service. We have customized choices of startup friendly packages available to suit every unique business requirements.
Advantage of Private Limited Company:
Company structure restricts liability of its members and directors to the extent of their contributions. Hence, Members and directors personal assets are undersafeguard and cannot be pulled over to pay the obligations of the company and ensures Limited liability feature for stakeholders.
Private Limited Company is a legal entity and an artificial person in the eyes of the law, distinct from its Owners. Therefore Company has wide legal capacity and can enter into contracts, own assets, borrow funds and also can sue or be sued in its own name.
Company has perpetual succession and will continue to exist until legally dissolved, irrespective of death or changes in their members. This provides ongoing legal existence to Company over other forms of business and ensures continuity.
Shareholders are the owners of the company. In Company structure, one can easily raise investment by issue of equity shares to Investors and VCs. Also, easy transfer of ownership of Company can be done by share-transfer with amendment in shareholder, directors and nominees. Easy transferability feature makes Company structure more flexible business model to choose among startups.
A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.
How can we help with Company Incorporation
We can get your Company registered with complete professional support in estimated 15-20 working days* with following Steps:-
Digital Signatures Certificate (DSC) and Director Identification No. (DIN) will be obtained for the proposed Directors of Company which takes about 5 to 7 working days time.
Maximum of upto Six Name Choices in the order of preference must be submitted to MCA for Name Reservation of Company name. As per availability and guidelines, MCA approves name of Company which will be reserved and aligned to their guidelines. We will secure your name reservation in 4 working days time.
On name approval, Our team will draft legally vetted Memorandum of Association and Articles Of Association (Constitution document) and submit with MCA along with application for Incorporation and necessary supportings. MCA usually approves incorporation application in about 7 working days, subject to govt. processing time. On approval, Final Registration Certificate for Company will be issued.
Every company is required to obtain Permanent Account Number (PAN) and Tax Deduction Account Number (TAN). We will make application for obtaining PAN and TAN for Company with Income Tax Department ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to your registered office address in maximum 21 working days.
On receipt of PAN, TAN and Company Registration Certificate, you can open Current Account with any Bank for your Company and begin transacting business.
* Subject to govt. processing time and client documentation time.
FAQ on Private Limited Company Registration
A : Private Limited Company form is ideal business form for Startups and SMEs which gives benefit of limited liability to business owner against third party and also provides corporate identity. Under Company mode, Startups can raise funds by issuing equity shares to Investors and also restrict their own liability to creditors. Company structure also proves more trustworthy and credible in the eyes of various stakeholders.
A : Private limited company must have minimum 2 and maximum 15 directors, of which atleast One must be Indian Resident. It also requires atleast 2 shareholders with maximum 200 as upper cap.
A : Yes, Registered office can be any place either Commercial premises, Residence, rented place and so on. So you can easily give residence address as registered office, provided all the address proofs and documents are in place.
A: Well you don’t need to invest any money upfront. Private Limited company requires authorised capital, but can be incorporated without any paid up capital. In Simple terms generally Startups keep Rs.1 Lac as authorised capital with practically zero paid-up capital investment initially. You can show your investment in Capital by way of introducing various business assets (such as Computers, other assets, incorporation and setup expense of startup business).
A: Any individual/organization can become the member of the private limited company including foreigners/NRI. However, the individual must be above 18 years of age and should have a valid PAN card.
A : Absolutely No, the process of company incorporation will be 100% online and none of director/ member need to be physically present at ROC or any of our offices at all.
A: Yes, NRI or foreign national can validly become director in the Private Limited Company. They can also become shareholder in the company. Only requirement is Company should have atleast One Resident Indian Director.
A: MCA has prescribed certain naming guidelines to be followed by all companies in India. Name approval for some of them are also kept subjective and depends upon ROC’s opinion. By and large following guidelines needs to be adhered by the applicants:
• Short and Simple – Names should be short and simple to pronounce and resonate with objects of the company. Longs names should be avoided.
• Meaningful – Name should closely reflect nature or proposed activity of business. E.G. Tata Telecom refers to telecommunication business for the brand.
• Unique – Your company name should be unique and must not be same or similar to other existing company or misrepresent other corporate. E.G. Reliance Industries Limited is the name taken by reliance group. Now no new company name as “Reliances” or Reliance Inds. can be approved as it conflicts with Reliance company and may mislead customers being one of the popular name in Industry.
• Trademark Breach – If your proposed company name is similar to one which is already registered Trademark by someone else, then first you need to get their no objection to get the name approval. Simply Company name should not breach registered trademark laws.
• Prohibited wordings – Common words, plurals, adjectives and abbreviations are generally rejected. Hence word ABC or BEST COMPANY would get rejected. Use of illegal /abusive and un-ethical phrases is also not permitted. Further specific words related to regulatory business are not commonly allowed like Banks, Stock Exchanges, Financial Institution, Chartered Accountant, unless approval from regulatory body is submitted.
• Suffix – Name of the company should end with the wordings as “Private Limited”
A: As private limited companies are closely held unlisted companies and not traded publicly, regulatory requirements placed on them are lesser than on public companies. For example, Unlike public company, they need not disclose their books of accounts and publish financial results to public at large and stock exchanges.
However, Routine Regulatory Compliances prescribed by ROC for private limited companies must be adhered as below :
• Maintenance of Books of Accounts and Audit by Chartered Accountant
• Filing of Annual ROC Return and submit compliance certificate for eligible companies
• Filing of Income Tax Return
• Maintenance of Statutory Register, Records, Minute Book for Company
• Conducting Board Meetings, Annual General Meeting and adherence to Notice requirements
• Appointment of Auditor, Change in Directors, Registered offices and regulatory event based filings with ROC.
If startup fails to adhere to above compliance requirements, prosecutions prescribed for Directors are significantly stringent under New Companies Act, 2013 with heavy financial penalty for defaults.
A: It purely depends upon the business volumes and nature of business. However, being a Startup you need to plan approximate Rs.10,000/- annual approximate cost of ROC compliances.
Documents required for Company Registration
To be submitted by Directors and Shareholders
Copy of PAN Card
Copy of Aadhaar Card/ Voter identity card / Driving License
Landlord NOC (Format will be provided)
Passport size photograph Scanned Copy
Copy of Latest Bank Statement/Telephone or Electricity Bill
Copy of Passport (in case of NRI or Foreign National)
Specimen Signatures (signature on blank document of Directors only)
# For NRI/Foreign Nationals, All the documents must be notorised or apostilled (if in common-wealth country). In case of Resident director, all documents must be self-attested by any one director.
To be submitted for Registered Office (Place of Business)
Scanned Copy of Notorised Rent agreement (If rented property)
Scanned Copy of Landlord NOC (Format will be provided)
Latest Electricity/ Maintenance bill/ Utility Bill/ Latest Bank Statement (Place of Business)
Scanned Copy of Property papers (If owned property)
Why India Kickstart?
- 12 Month Service at fraction of the cost
- Completely Online, saves time and offers comfort
- Accurate and Timely Compliances guaranteed
- Highly Affordable plans reduces Compliance cost of business
- CA/CS assisted filing with Business Hour Support
- Secured, Transparent and Confidentially assured
- Avoids Penalty and prosecutions
- Beyond Satisfaction Customer Service
- Complete briefing on Govt. Process
- Regular updates throughout the year on Compliance laws
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we’ll try to ensure that your doubts are cleared before they even arise.