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Requirements for Registering a Private Limited Company

If the registration process cannot be done online, it would be insignificant since every key process of register a company is done over the internet. Due to the fact that it is contactless, as well as the ease and speed of using electronic transactions, the post-covid era demands every possible business transaction be done electronically. Following the necessary steps will allow you to register a private limited company online.

¬†As soon as the business entity has been chosen, a private limited company needs to be registered. The choice of a business entity is not right or wrong. The type of entity you choose depends on your business’ needs and tax filing requirements. In order to ensure smooth and systematic operation of your business, you will need to get the company registered.

Private limited companies have the following characteristics

Companies have a minimum of two shareholders and a maximum of 200 members. In the event of a company’s liability, the shareholders are not personally liable, as the company by itself is a separate legal entity. For a company to be registered under the Companies Act, 2013, it must have two directors and a maximum of fifteen directors. Private limited companies have the advantage of not being required to have a minimum shared capital to register.

Private Limited Company Registration Process

1. Obtaining Digital Signature Certificate (DSC)

When registering online, it is mandatory to obtain a Digital Signature in order to sign and file the forms on the MCA portal. The Digital Signature is mandatory for each director involved in the entire registration process.

2. Director Identification Number (DIN)

A DIN number is an identification number that is assigned by the government of the country in order for the directors of the private limited company, which is a private company, to be able to register the company.

3. MCA Portal

When registering a company online with the MCA portal, the SPICe+ (Simplified Proforma for Incorporating a Company Electronically) form is required. Registration with the MCA portal is required prior to submitting the form, allowing the director to view various documents and file other e-forms on the portal.

4. Certificate of Incorporation

Registrars are responsible for meticulously reviewing all the forms and documents that accompany the registration applications and, upon finding that they are in compliance with the law, they will issue the private limited company with a Certificate of Incorporation.

Private Limited Company Registration Requirements:

Getting a private limited company registered is no different than getting a partnership registered with the government to assess the credibility and legality of the application. As a result, the following documents are required for the registration of a private limited company under the MCA.

  • A proof of identity that serves as an authentication of the individual, such as a PAN card, an Aadhar card, or a valid passport, must be presented by each director and shareholder as proof of their identity in order for the company to proceed.
  • An account of the bank statement or a recent telephone bill is also required as proof of address.
  • A rental agreement and a NOC from the owner must be attached if the private limited company is located in a rented space.
  • It is necessary for the company to present the sale deed if it is located in its own space.
  • In the case of an LLP, DPIN and DSC are required.

As soon as a DSC is obtained, an application to register the name is filed. A Memorandum of Understanding (MoA) and Statement of Agreement (AoA) are submitted. A PAN and TAN application is made. The registration certificate is issued by the RoC if all the documents are in order.

Thus, by holding the necessary documents and duly furnishing the same to the RoC, the registration could take place online without any hassles. Achieving success starts with getting started. It is also important to get your business registered as soon as possible in order to legalize it for success.

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