How to Register a Private Limited Company ?

The name of the company can be applied through PART- A of Form SPICe +. The name of the company must be unique. The proposed name should not resemble too nearly or be identical with the name of an existing registered company or Limited Liability Partnership (LLP) name, otherwise ROC will reject the proposed name. ROC will also reject proposed name if its use by the company will constitute an offence under any law in force or is undesirable in the opinion of the Central Government.

As the physical documents are signed manually, electronic documents, like e-forms are signed by using a Digital Signature Certificate (DSC). Initially DSC of one subscriber is required for signing the e-forms for the incorporation of company. However, later DSC of all the subscribers would be required.

Part-B of the Form SPICe+ is used for incorporation of company. Many services can be availed through this web form i.e. (a) Incorporation of company (b) DIN (Director Identification Number) of directors (c) Allotment of PAN and TAN (d) Issue of EPFO and ESIC registration (e) Issue of Profession Tax registration(Maharashtra) (f) Opening of Bank Account for the Company (g) Allotment of GSTIN (if applied for).

Therefore, one need not to apply separately for each of them and instead avail the services under one roof.

ATTACHMENTS FOR SPICe +:

1. eMoA and eAoA(electronic forms) in case the number of subscribers are up to 7 and if: (a) individual subscribers are Indian nationals. (b) individual subscribers who are foreign nationals in case they have valid DIN and DSC and also submit a proof of a valid business visa. (c) non-individual subscribers based in India.
   
   Physical copies of MoA/AoA is required to be signed and attached in case non-individual first subscribers are based outside India or individual foreign subscribers do not possess a valid business visa or OCI card or any other scenario.

2. Declaration by first subscribers and directors

3. A proof for the address of the office along-with rent receipt, utility bill and NOC from the owner of the premises

4. Identity proof and Address proof of the subscribers and directors

5. DIR-2 (Consent to act as director)

6. Passport and declaration regarding PAN (in case of foreign national)

ATTACHMENTS FOR AGILE – PRO-S:

Application for GSTIN / EPFO/ ESIC/ Profession Tax/ Opening of bank account is made through form AGILE-PRO-S. The following documents are attached:

1. Proof of Principal place of business (conveyance deed/sale deed/rent deed)

2. 2. Proof of appointment of Authorized Signatory for GSTIN

   • Letter of Authorisation

   • Copy of Resolution passed by Board of Directors/ Managing Committee and Acceptance letter

3. Proof of Identity of Authorized Signatory for opening Bank Account

4. Proof of Address of Authorized Signatory for opening Bank Account

5. Specimen Signature of Authorized Signatory for EPFO

Once the application is filed and has been found in order, the ROC shall issue Certificate of Incorporation which shall bear the CIN (Company Identification Number) of the company and also PAN and TAN of the company.

TIME TAKEN TO REGISTER A PRIVATE LIMITED COMPANY

Once all the documents are provided by the client, it takes not more than 7 days to file the application. Certificate of Incorporation is issued by Registrar of Companies (ROC) within 3-5 working days after the application is filed.

REGISTRATION COST

Total cost of registration includes government fees and professional service charges. Government fees include charges for DSC, reserving Name and applicable stamp duty. The stamp duty depends upon the authorised share capital of the company and it also varies from state to state. Service providers like CA, CS and advocates offer business registration services who charges their professional fees.

An individual wants to launch a business however, confused about the kind of legal structure of business he should opt for. His decision is going impact on how much money is required for launching business, cost of registration, amount of paperwork, how much he has to pay in taxes and personal liability he will have to face. While making such decision, Private Limited Company is likely to jump in his mind first. Private Limited Company is the most popular option to start a business.

1. No minimum capital required

2. Shareholders/Members

3. Directors

Private companies are of three types depending on their members’ liabilities:

1. Limited by shares

2. Limited by guarantee

3. Unlimited liability

LIST OF DOCUMENTS REQUIRED (IN CASE DIRECTOR/SUBSCRIBER IS INDIAN):

1. ID proof

2. Address proof

3. Passport size photograph of subscribers for MOA and AOA

4. Registered Office Proof

DOCUMENTS REQUIRED FROM FOREIGN NATIONAL

1. ID proof

2. Declaration by foreign national

1. Limited numbers of members

2. Centralized Authority

3. Small capital

4. Restriction on transfer of shares

5. Restriction on public deposits

6. Stock exchange