What is Private Limited Company?
A private limited company is a type of privately held small business entity. This type of business entity limits owner liability to their shares. Private limited company does not raise capital from the public. This means that it does not issue shares for public subscription.
Some Important Features of Private Limited Company:
- Limited liability.
- At least two members.
- A minimum of two directors.
- Maximum two hundred members.
- Restricted rights to transfer shares.
- No minimum capital requirement
- Compulsory use of the words private limited.
Advantages of Private Limited Company:
- Limited liability for members or directors.
- Preferred by Bank , Ventures and Investor for loan
- Perpetual succession. Members may come and go but the business continues.
- Easy to Register manage and Run.
- Greater credibility of business.
Documents Required for Registration of Private Limited Company:
- Copy of PAN Card of Directors
- Copy of Aadhaar/Passport/Voter ID/Driving License of Directors
- Copy of Utility Bill/Bank Statement of Directors
- Passport Size Photograph of Directors
- Copy of Property Paper (If Owned by the Director)
- Copy of Rent Agreement (If Rented Property)
- Copy of Utility Bill of Business Place
- NOC from the Landlord
- List of Proposed Company Name (In Preference Order 4-5)
- Mobile Number & E-Mail Id of the Directors
Procedure to Registration of A private Limited Company:
- Obtain Digital Signature (DSC)
- Register for Director Identification Number(DIN)
- Apply for Name Approval from the MCA
- Draft MOA/AOA
- File Incorporation Form Spice
- Get Incorporation Certificate
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