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Know More About PRIVATE LIMITED COMPANY
Introduction & Compliance
A Private Limited Company is one of the most popular business structures in India, governed by the Companies Act, 2013 and regulated by the Ministry of Corporate Affairs (MCA).
It provides its shareholders with limited liability protection, it is a separate legal entity and is suitable for businesses looking to raise investment and grow.
These compliance's include filing of annual documentations, conduction of board meetings, maintenance of books as per the statutory requirements and following other corporate governance standards.
Why It Is Needed
A Private Limited Company Registration is what makes the most sense when you want to be taken seriously as a business, seek legal identity, credibility, scale-ability and limited liability. It enables businesses to court investors or grow operations and it is the passport they must present when applying for loans or government tenders.
Its dynamic and professional image make this layout suitable for new businesses and growing businesses.
Benefits & Advantages
- Limited Liability Shareholders are only liable to the extent of their shareholding. This means their personal assets are protected from the company’s debts or legal obligations.
- Separate Legal Entity A private limited company is recognized as a distinct legal entity. It can own property, open bank accounts, enter contracts and sue or be sued in its own name.
- Credibility Being a registered entity under the Companies Act boosts business reputation. It builds trust among customers, suppliers, lenders and potential investors.
- Funding Access Private limited companies are the preferred structure for raising capital from angel investors, venture capitalists and financial institutions. The ability to issue shares makes funding flexible and scalable.
- Perpetual Succession The company remains in existence regardless of changes in ownership or management. This ensures continuity and long-term business stability.
- Tax Advantages Private limited companies can benefit from various tax deductions and exemptions, especially under schemes like Startup India. This can significantly reduce the tax burden during early growth stages.
- Transferability Shares of a private limited company can be transferred easily among existing or new shareholders. This allows for seamless changes in ownership without affecting the company’s operations.
Eligibility Criteria
Basic Requirements
- Minimum of 2 directors (at least one must be a resident of India)
- Minimum of 2 shareholders (can be the same as directors)
- A registered office address in India
- Unique company name not similar to existing companies or trademarks
Documents Required
For Directors/Shareholders
- Email ID
- Mobile number
- Passport-size photographs
- PAN Card (mandatory)
- Aadhaar Card/Passport/Voter ID/Driving License
- Proof of address (bank statement/electricity bill not older than 2 months)
For Registered Office
- Rent agreement (if rented)
- NOC from owner
- Utility bill (electricity/gas/water not older than 2 months)
Steps for Getting Registration
- Name Approval: Apply for name reservation via SPICe+ service.
- Digital Signature (DSC): Obtain DSCs for all proposed directors and subscribers.
- Director Identification Number (DIN): Assigned through SPICe+ form during incorporation.
- Filing Incorporation Forms: Submission of SPICe+ along with e-MoA (Memorandum of Association) and e-AoA (Articles of Association).
- Issuance of Certificate: MCA issues Certificate of Incorporation with CIN and PAN/TAN.
Timelines
10-15 working days
Our services include guidance, documentation support, and application facilitation. It is important to note that we are not a government department, not a government-run website, and not affiliated with any government authority in any capacity. The role of lawfinity.in is purely that of a professional consultant.
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Frequently Asked Questions
Because every great business starts with the right answers.
No, a minimum of two shareholders and two directors is mandatory.
Yes, a valid registered office address is required during incorporation.
Yes, they can be, subject to at least one Indian resident director.
There is no minimum capital requirement. You can start with even ₹1.
No, the entire process is online through the MCA portal.
It is valid for a lifetime, subject to regular compliance.
Yes, the conversion is possible by following the MCA-prescribed procedure.
Yes, even if there is no turnover, a statutory audit is mandatory.
Annual return filing, financial statement submission, board meetings, ROC filings, tax return filing etc. are required.
Voices of Success
Hear from those who have thrived with us and discover how businesses have transformed and grown with our expert guidance and support.
Anil Yadav
Shaperz India Grain Private Limited
“From FSSAI to Trade License, Lawfinity handled all our approvals efficiently. One-stop solution for all licensing needs.”
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