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Private Limited Company Registration
Private Limited Company Registration
Private Limited Company Registration is the most preferred form of company registration by most of the entrepreneurs in lndia. Private Limited Companies are those types of companies where minimum number of members is 2 and maximum number is 200 as per new Companies Act. 2013. A Private Limited Company has all the advantages of a Partnership firm. It has advantages of Limited Liability Partnership with greater stability and legal entity. Private Limited Companies can avail loans easily from various financial institutions like banks.
Private Limited Incorporation in India is made easier by Ministry of Corporate Affairs. Earlier process of Company registration has been modified. Now the new process is much simpler and with fast tack mode. Spice form is used for registration. Experts at B H SOLANKI have helped number of entrepreneurs for Private Limited Company Registration. In All major cities of India, Mumbai, Delhi, Bangalore, Pune, Chennai and more. Our services are reliable and quick.
Minimum Requirement for Register a Private Limited Company
- Members: Minimum 2 members are required
- Capital: The minimum capital required to start a Private Limited Company is 100,000
- DIN: For 2 members
- DSC: Digital Signature Certificate will be required for all directors
- Address: Address proof like Rent agreement 1 Light Bill [or the registered address is required.
- Indians: Minimum of 1 Director must be resident of India
Advantages of Registration of a Private Limited Company
Distinct Legal Entity
A Private Limited Company has a distinct legal identity in the eyes of law. The act of Company is different from the act of its members. Just like a natural human being it has its own identity whereby it can enter into contract on its own name, be owner of properties.
Sue and can be sued
As the Company is completely a distinct identity in the eyes of law thus it has ability to sue and get sued like natural person. To sue means to initiate a legal proceeding against or to bring the proceeding in the court of law. Thus it has complete independent legal entity.
Flexibility in Share Transfer
In case of Private Limited Company it is easy to transfer interest of shares from one person to another but comparatively if we look into Proprietorship Firms and Partnership firms transferability of interest of business is difficult.
Limited Liability
The liability in case of Company is limited as compared to Partnership firms and Proprietorship firms, especially if we look at Proprietorship firms the liability of the Sole Proprietor is unlimited.
Owner of Property and Assets
As a company has its own individual identity and is different from its members, it can own various properties and assets in its own name. Be a shareholder in any other company. Even in certain cases a Body Corporate can be 99% shareholder in any Company.
Easy Funds Raising
Private Limited Companies enjoys easy fund raising from various sources like issue of debentures or issue of various securities in form of shares, easily availability of loans from banks etc, but in case of Partnership or Proprietorship raising of funds is not so easy.