In the case of small businesses, private limited is an option. Owners can’t sell their shares publicly, and the number of shareholders is limited to 200.
What are the benefits of registering a Private Limited Company in India?
- Limited danger to personal property
A private limited company’s stockholders have limited responsibility. Private limited company registration in Pune implies that as a shareholder, you will only be responsible for the company’s liabilities to the degree of your contribution. The shareholders have no personal responsibility and are thus not required to cover the company’s liabilities with their own assets.
- Raising Capital
Even though creating a PLC involves regulatory requirements, entrepreneurs prefer it since it allows them to obtain capital via shares, grow, and restrict their responsibility.
- Dependability
Under the Companies Act of 2013, companies in India are registered with the Registrar of Companies (ROC). Through the Ministry of Corporate Affairs (MCA) website, anybody may see the company’s information. During the establishment of the firm, details of each director are submitted as well. Consequently, a PLC corporate structure is more credible.
- Continue Existence
Until it is lawfully dissolved, a company enjoys ‘perpetual succession,’ or continuing existence. Corporations are unique legal entities that aren’t subject to changes in membership; therefore they aren’t impacted by a member’s death or leave.
Required Documents for Private Limited Company Registration
The Registrar of Companies (RoC) has strict requirements regarding the paperwork presented during online business registration. For instance, if an applicant submits a voter identification card and a passport as identity documents, and there are name mismatches between the two, the application may be refused or resubmitted, delaying the procedure by a few days. Even the occasional tiny error is not tolerated.
The papers listed below must be presented by the company’s Directors and shareholders (Indian nationals)
Digitized versions of:
- PAN
- Government-issued identification: voter ID, passport, or driver’s license
- Bank statement
- Expenses for cell phones, gas or electricity
- Passport-sized picture
Signature specimen – Director’s signature on a blank paper
Note: The first three papers should be attested by any director.
The papers listed below must be presented by the company’s Directors and shareholders (NRIs)
Digitized versions of:
- Passport
- Voter’s ID/ driver’s license/passport
- Latest bank statement
- Most recent invoices for utilities such as telephone, mobile, or electricity
- Passport-sized picture
- Signature of the specimen
All of the paperwork must be notarized (if NRI is currently in India or in a Commonwealth country). All the papers must be notarized and apostille or Indian embassy certified (if in a Non-Commonwealth Country).
Evidence for the office address
Digitized versions of:
- most recent water or power bill
- rental agreement notarized in English
- Recent receipt of rent
- If the property is owned – Sale document or property deed
- Certificate of occupancy from the property owner
All of the paperwork must be notarized (if the NRI is currently in India or in a Commonwealth country). All the papers must be notarized and apostille or Indian embassy certified (if in a Non-Commonwealth Country).
The owner of the property where the business is being registered is required to obtain a NOC or no objection certificate. If it is not feasible to get a NOC, then the business may be registered by any friend since the correspondence address is only a mailing address.
A pvt ltd company registration in Pune is quite a simple process, yet it is complicated. One has to be very careful when completing the registration process.
