A private limited company, is a type of privately held business entity. It has the limited liability of members and can have minimum two and maximum two hundred members.
Start-ups and growing businesses choose to register a company in India because it allows outside funding to be raised easily, limits the liabilities of its shareholders and enables them to offer employee stock options to attract top talent.
As these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend also to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.
In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
To incorporate a private limited company, a minimum of two shareholders and a maximum of up to 200 shareholders are allowed in a private limited company.
Minimum two and maximum 15 directors are required for a private limited and there can be even more than 15 directors after passing Special Resolution.
There is no minimum paid-up capital requirement and hence no burden of putting in such a large amount, as previously required, into the company bank account. This amount can be introduced as per the convenience of the business owners.
Yes, private limited compnay needs to do annual filling with ROC each year. Further it has to must maintain books of accounts to comply with statutory audit requirements and submit income tax returns
Yes, a Foreign National or an NRI can be a Director in a private limited company in India after obtaining DIN. However, at least one Director on the Board of Directors must be a Resident India.
Any individual or company or LLP can become a shareholder including NRl and foreigner.
MOA is the chartered public document which contains all those information that are required for the company at the time of incorporation i.e. objects, powers, and scope of the company. A company is not allowed to work beyond MOA, i.e. it limits the range of activities of the company.
AOA is the secondary document, which defines the rules and regulations made by the company for its administration and day to day management. In addition to this, the articles contain the rights, responsibilities, powers and duties of members and directors of the company. It also includes the information about the accounts and audit of the company.
No, you needn’t be available in person, private limited company incorporation process is online. A scanned copy of documents can be sent to us via mail, and we will handle the rest