Incorporating a Business
Private Limited Company
Partnership is a very convenient way of doing business. When two or more people - friends, relatives, colleagues or siblings or any person for that matter, join together and act as co-owners of the business, while sharing profit and loss mutually or at the agreed ratio, a partnership firm is formed. In India, such Partnership firms are governed by the Indian Partnership Act, 1932. Though it is not mandatory to register a partnership firm, it is always advisable to register as an unregistered firm cannot file a suit in any court enforcing a right arising from a contract, creditor or third-party vendor or even a partner of the firm cannot file a case against the form or other partners.
By registering your business as a private limited company you enjoy several benefits including separate legal entity status where your company is recognized legally, can own properties and sue its creditors and other third party members and also incur debts; perpetual existence, which means uninterrupted existence till legally dissolved: Limited Liability ensuring the members of the company are liable only to the extent of the face value of the shares taken up by them; legal borrowing capacity which enables raising funds own its own and directly from public & institutes and owning a property, which means your company can acquire, hold and dispose assets separately and on its name.
However, floating and incorporating a Private Limited Company calls for some detailed process, documentations and legal guidance. We can successfully help you incorporate a Private Limited Company which can be hassle free, quickly and as per your objectives.
After a thorough due diligence, our team members will help you end to end covering all processes required from documentation gathering, filing to approval and certificate. The following table depicts the process flow involved in Incorporation of a Private Limited Company:
|Particulars||Criteria/ Basic Information|
|Directors||Minimum 2 directors, Maximum 15 directors, Minimum Age 18|
|No of Shareholders||Minimum 2 subscribers/shareholders. Maximum 200 shareholders|
|Paid up Share Capital||Minimum 1 lakh|
|DIN Numbers||Director Identification Number required for each Director|
|Digital Signature||Minimum 1 Digital Signature required|
|Type of Directors||Citizens of India can obtain DIN with documents being self attested and Notaries. Foreign Nationals require documents to be attested by Consulate of Indian Embassy or as per the prevailing rule.|
|MOA& AOA||( Memorandum of Association) & ( Articles of Association) MOA covers fundamental objects of the company. AOA contains internal rules and regulations governing the company|
|Time Period for Certificate of Incorporation||If all Documents* are obtained and company name is unique - 4 to 5 working days without any queries. If there are, 10-15 working days|