WHAT IS PRIVATE COMPANY
- The private limited company is governed by section 2 (68) of Companies act 2013 and relevant rules.
- It is a form of Business in which a small group of people manages this type of entity privately without any Public interference.
- To form a private company the requirement of a minimum of 2 Directors and 2 Shareholders/Subscribers.
- As on date the incorporation of a Private company is hassle-free and Having a very low cost of Incorporation.
ADVANTAGES OF PRIVATE COMPANY REGISTRATION
- LEGAL STATUS
The Private company has its separate legal entity which distinct its shareholders and company.
- PRIVATE LIMITED STATUS
The Private Limited word mention at the end of the company name.
- PERPETUAL SUCCESSION
There is no effect on the company existence after the decease of its existing shareholder.
- LIMITED LIABILITY
The Liability of Shareholders is Limited to the extent of Subscribing share capital.
- BUSINESS CREDIBILITY /FUNDRAISING
The Company can raise funds easily in comparison to other forms of business and having high business credibility.
- BRAND VALUE
The Company is registered under companies act 2013 which is passed by the Government of India or its central act. The company is directly registered with the Central Government (Ministry of Corporate Affairs).
- EXPANSION OF BUSINESS
The company can expand business by inviting shareholders up to 200 and raised funds by inviting various venture capital or People by issuing equity shares.
- INVITE FDI (FOREIGN DIRECT INVESTMENT)
The company is the best form to invite FDI from abroad and it’s a very good vehicle to invite foreign national (foreign capital) to become shareholders of the company by issuing equity share capital.
DOCUMENTS FOR PRIVATE COMPANY REGISTRATION
- DOCUMENTS OF DIRECTORS & MEMBERS
- Passport Size Photo.
- Identity Proof (Driving License or Passport or Voter ID).
- Address Proof (Mobile Bill or Electricity bill or Bank Statement).
- PAN Card (Mandatory).
- Passport is mandatory for Foreign National or Non-Resident India (NRI).
- Aadhar Card.
- Mobile No.
- Email Id.
- DOCUMENTS OF COMPANY
- Name of the Company.
- Business Objective (A company registration is done for only one objective).
- Authorized Share Capital.
- Paid Up Capital.
- Registered Office of the Company.
- Property Owned (Sale Deed or Electricity Bill) OR Property Rented ( Rent Agreement).
MINIMUM REQUIREMENTS FOR PRIVATE COMPANY REGISTRATION
- Minimum 2 Members.
- Minimum 2 Directors.
- The authorised capital of Minimum 1 Lakh.
- Minimum 1 Director is Resident of India.
- All Directors have a DIN (Director Identification Number).
- The company have a Business Objective.
TIPS FOR PRIVATE COMPANY NAME SELECTION
The name of the proposed company shall be unique and related to its business activities (eg. Reliance petroleum ltd (petroleum is the business activity of reliance company)
- SIMPLE & SHORT
The name shall be simple to pronounce or easy to learn and also short (eg. Tata Consultancy Ltd).
- LEGAL NAME
The proposed company name shall not be illegal & also have legal business objectives (eg. ISIS limited (it’s illegal because ISIS is a terrorist organization)
- NO OFFENSIVE NAME
The name shall not create any religious, culture, community violence & not offensive (eg. Pakistan terrorist group Ltd. (the name is offensive & against the law).
The name of the company shall suffix with “Private Limited” or “LLP” (In case LLP registration).
- NOT SIMILAR TO EXISTING COMPANY NAME
The name of the company shall not be matched & related to the name of an existing company & also not related to Trademark already registered.
PROCEDURE OF PRIVATE COMPANY REGISTRATION
- COLLECTION OF DOCUMENTS.
- We send you a checklist of documents required.
- Send us a scanned copy of all documents as per the checklist.
- We check the documents as per checklist
- All the documents attested & Notarized
- PREPARATION OF DIGITAL SIGNATURE CERTIFICATE (DSC).
- Fill the DSC application form along with an attested copy of PAN card, Identity proof, Address Proof, Mobile No., & Email id, etc.
- Filing of Application with the relevant authority of Digital signature.
- Authority send OTP (One time Password) on Registered Mobile no. & Email Address
- Record the 30 seconds video of the person for which DSC is to be registered.
- Download DSC (Digital Signature certificate) in E pass Token.
- APPLICATION FOR DIRECTOR IDENTIFICATION NUMBER (DIN).
- Preparation of Form DIR – 3 for DIN Number.
- Filing of Form DIR – 3 with ROCs (Registrar of Companies) along with requisite fees & Documents.
- Download the DIN Number of proposed Directors of the Company.
- APPLICATION FOR NAME APPROVAL.
- The Company name suggested by the Proposed Director or members of the company.
- The name should be as companies act 2013 & relevant rules & regulations for Company name.
- The Proposed company name shall be Unique & contain word related to its business activities, not related to any trademark.
- The name of the company is suggested by Directors or Members for company registration is checked by our professional teams.
- Preparation of Form RUN (Reserve Unique Name) & filing with relevant authority along with the fees of INR 1000.
- The name approved by the relevant authority after checking all legal provisions.
- The Unique Proposed company name is valid for 20 days.
- PREPARATION OF INCORPORATION DOCUMENTS.
- Collection of All documents as per checklist for Company registration.
- All Documents are attested & Notarized.
- Check eligibility criteria for proposed Directors & Members.
- Preparation of Affidavit of proposed Directors & Members.
- Preparation of E – Memorandum of Association (MOA) SPICE form 33.
- Preparation of E – Articles of Association (AOA) SPICE form 34.
- The identity proof (Voter id / Driving License / Passport) & Address proof not older than 2 months (Bank statement / Mobile bill / Electricity bill / Telephone bill) shall be attested by proposed Directors & Members.
- PREPARATION OF SPICE FORM 32.
- The details fill in SPICE FORM 32 of the proposed company, Directors, Members & other important information.
- Attachment of E- MOA, E – AOA, Identity proof, Address proof, proposed Company registered office documents.
- Scrutiny of the application form by the team of our professional
- Attach the DSC (Digital Signature Certificate) of Practising professional & authorized person for proposed company registration (Normally Director).
- APPLICATION FOR PAN & TAN.
- Application of PAN no. & TAN no.along with details like Area code of registered office, Rent agreement, etc insert in SPICE form 32.
- The relevant authority shall issue the company PAN card. & TAN certificate along with the company registration certificate.
- FILING OF INCORPORATION DOCUMENTS.
- After checking all details & scrutiny done by professional of SPICE form 32.
- The Filing of E- Form with ROCs along with Government fees.
- We also pay stamp duty as per state of registration on E – MOA & E – AOA along with SPICE form 32.
- After filing the Company registration form, the SRN (Service request Number) is generated to check the further status of the application.
- Our professional follow up with relevant authority for Company registration.
- GET CIN CERTIFICATE.
- The ROCs check all details of company registration.
- The CIN (Company Identification Number) is issued by the ROCs along with a Certificate of Company registration.
- The CIN is consists of 16 digits combination of alphabets & Numbers.
- PREPARATION OF SHARE CERTIFICATES
- After company registration, we prepared Share certificates of Company Shareholders.
- A share certificate is signed by 2 Authorised signatory of the company and 1 by practising professional.
- DELIVER INCORPORATION KIT
The incorporation kit of the company contains the following Documents are:-
- Name approval certificate.
- DIN of Directors.
- DSC of Directors & Members.
- MOA (Memorandum of Association).
- AOA (Articles of Association).
- A hard copy of SPICE form 32.
- A hard copy of attachment of SPICE form 32.
- Copy of PAN card.
- Copy of TAN Certificate.
- Original Certificate of Company registration.
- Original Share certificates.
- How many Directors required for Private limited company registration?
We need a minimum of 2 directors & maximum 15 directors but in the case of OPC (one person company) Minimum & maximum director limit is 1 only.
- Can Director & members will be the same person?
Yes, Director & member can be the same person but the Director of the company is always a Natural person.
- Body Corporate / Company / Organization can be a member of the company?
Yes, Individual or organization can become a member of the company.
- Is there are any hidden charges after making payment for company registration through Estellaconsultancy?
No, The fees recovered by our organization is inclusive of all professional. government & Other charges. we will provide you invoice with a proper bifurcation of charges paid at the time of company registration.
- Are we need to physically visit any government department for Company registration?
As on date company registration is a 100% online process. The directors or members are not required to visit any government department for company registration.
- Estellaconsultancy helps us in the opening of a company bank account after company registration?
Yes, The Estellaconsultancy.com provides all service to its customers from name application to Company bank account opening.
- How much time taken by Estellaconsultancy to complete the whole process of private limited company registration?
Normally, Estellaconsultancy.com register your company with 12 working days from receipt of all documents for company registration.
- There is an educational qualification is required to become Director or member of the company?
No, there is no education qualification is required to become Director or member of the company but the person can do a contract (major) to become director of the company.
- Can one person form a company?
Yes, if a person wants to become a sole member of the company then he required to form OPC (One Person Company).
- NRIs/Foreign Nationals can become a Director in Private Limited Company?
Yes, NRIs/Foreign Nationals can become a Director in Private Limited Company but they all have DIN (Director Identification Number) and not disqualified under section 164 of companies act 2013.
- NRIs/Foreign Nationals can become a Member of the Private Limited Company?
Yes, NRIs/Foreign Nationals can become a Member of the Private Limited Company.
- Can a company be required to have a registered office for company registration?
Yes, It compulsorily to have registered office for company registration.
- The working person can form a private limited company and become its member & Director?
Yes, a Working person can form a private limited company and become its member & Director.
- Can Foreign Direct Investment (FDI) is done in the private company by foreign nationals?
Yes, Company invites Foreign Direct Investment (FDI) in the private company by foreign nationals but required to inform RBI for such transaction.