How do I start a private limited company?
Starting a company is easy through OnlineLgealIndia. All that is required are PAN card, Aadhaar card, address proof and bank statement copies of the directors along with address proof for the registered office address. A company can be started in about 10 – 15 days. If you have the necessary documents, sign up for one of our packages and have a company registered with guidance from one of our Advisors.
What is limited liability protection?
Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a private limited company the liability of the shareholders in respect of the company’s liabilities is limited. In other words, the liability of the shareholders of a company is limited only to the value of shares taken up by them.
What is authorised capital of the private limited company?
Authorized capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased after incorporation at anytime to issue additional shares to the shareholders.
What is required to start a private limited company?
To register a private limited company, a minimum of two people are required to act as directors and shareholders. The directors must be natural persons, while the shareholders can be natural persons or corporate entities. In addition, a registered office address in India is also required for company registration.
Can NRIs and foreign nationals or foreign entities register a company?
Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to be a part of the company on the Board of Directors.
Who can be a director in a company?
Any person over the age of 18 years can become a director in a company. Also, there are no conditions on residency or citizenship. Hence, NRIs and Foreign Nationals can easily start and manage a private limited company in India.
Is an address required in India for starting a company?
Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.
What is the process of getting a Private Company Registered?
Step 1: Obtaining Digital Signature (DSC) and DPIN
Step 2: Application of DPIN
Step 3: Name approval
Step 4: Form SPICe
Step 5: e-MoA (INC-33) and e-AoA (INC-34)
Step 6: PAN and TAN application
What is Company Registration Certificate?
Once the filing of the documents is through, the ROC calls the attorney on a specific date for scrutiny and makes the necessary changes in the MoA and AoA filed. After this is done, the Certificate of Incorporation is granted to the company.
After the company is registered, what statutory requirements need to be fulfilled?
After the registration of the company, the following should be fulfilled:
• Current account should be opened within 30 days of PAN registration
• Appoint a Statutory Auditor
• The paid-up capital should be deposited which was mentioned while registration
• Issue and allot shares
What is the minimum capital needed to form a Private Limited Company?
You need to have a minimum capital of Rs. 100,000 to start a private limited company. You need not have this amount in hand or your bank account. You can show this amount as the pre-incorporation expense of the start-up. Also, you can show the capital infused in the assets.
Can a Salaried person become the director of a company?
Yes, for sure. You can become the director of any type of company. You need to go through the employment rules if that allows you to do so
What is Digital Signature?
Digital signature is just like a hand signature, but only in this case, it is used to affix with computerized reports. A DSC provides validity to the signature.
Is it possible to register the company at the residential place?
It is only possible if you provide sufficient proof of it. This address would be where the company receives important information (if any) from the MCA or any other concerned authorities.
Are there any hidden involved for registration?
No,there are no extra charges, except Govt stamp duty and Name reservation fee are involved
Is physical presence required of the person/ owner for the incorporation of the company?
The whole process is online. So, a person needn’t go anywhere to register it. You are required to send in your documents via email and fill up our questionnaire to get it done.