A Private Limited Company is a privately held for small business. It is one of the highly recommended ways to start a business in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. A private limited company is governed by Companies Act, 2013. Minimum number of shareholders required to start a private limited company is two while the upper limit of members is 200 in accordance with the Companies Act, 2013.
A private limited company is considered to be a separate legal entity. It has its own identity and very much recognized as a separate company under the law. Also, the company can own property due to this feature under its name. It has main feature of limited financial liability of all the shareholders. The liabilities are limited to their shares only. This feature protects the personal assets and income of shareholders at times of any financial crisis faced by the company. Also, it gives the company more liberty of taking risks.
Documents & Details Required for Registration of Private Limited Company:
A. Directors and Capital:
- Minimum two Directors are Required, One Indian Resident is compulsory.
- Minimum Capital should be Rs. 100000/-.
B. Documents & Details for Directors:
1) NRI or Foreign Directors:
- Passport Copy (APOSTILED)
- Address Proof- (If address not written on Passport) – (APOSTILED)
- Passport Size Photo
- Mobile No.
- Email ID
2) Resident Directors:
- PAN Copy (Self Attested)
- ID Proof (Self Attested)- Voter ID/ Passport/ Driving Licence
- Address Proof (Mobile Bill/Telephone Bill/ Electricity Bill/ bank statement not older than 2 months)
- Passport Size Photo
- Mobile No.
- Email ID
C. Documents & Details for Company:
- Name of Company
- Main Objects of Company
- Office Address Proof (Rent Agreement, Electric Bill & NOC if rented or Electric Bill & NOC if self)
- Email ID
- Mobile No.
