Private Limited Company Registration
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Private Limited Company registration is the process of establishing a privately held business entity that limits owner liability to their shares, restricts shareholders from publicly trading shares, and limits the number of shareholders to 200. This business structure requires the appointment of directors and compliance with legal and regulatory requirements outlined in the Companies Act. Private Limited Companies are distinct legal entities with perpetual succession, offering advantages like limited liability, separate legal identity, and ease of transferability of shares. Registration involves obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), and filing necessary documents with the Registrar of Companies (ROC).
What is Private Limited Company ?
A Private Limited Company is a type of privately held business entity that limits owner liability to their shares, restricts shareholders from publicly trading shares, and limits the number of shareholders to 200. In this business structure, the liability of the shareholders is limited to the amount of capital they have invested in the company. Private Limited Companies are distinct legal entities from their shareholders, offering advantages such as limited liability, separate legal identity, and ease of transferability of shares. Registration of a Private Limited Company involves compliance with legal and regulatory requirements outlined in the Companies Act, including obtaining a Digital Signature Certificate (DSC), Director Identification Number (DIN), and filing necessary documents with the Registrar of Companies (ROC).
Benefits of Private Limited Company
Limited Liability: Shareholders’ liability is limited to the amount they have invested in the company, protecting their personal assets in case of company debts or liabilities.
Separate Legal Entity: A Private Limited Company is considered a separate legal entity from its shareholders, allowing it to own assets, enter into contracts, and sue or be sued in its own name.
Perpetual Succession: The company continues to exist even if the shareholders change, ensuring continuity of business operations.
Ease of Transferability: Shares of a Private Limited Company can be easily transferred, allowing for changes in ownership without disrupting business operations.
Credibility: Private Limited Companies are often perceived as more credible and trustworthy by customers, suppliers, and financial institutions, enhancing their business reputation.
Tax Advantages: Private Limited Companies are eligible for certain tax benefits and incentives, reducing the overall tax liability of the business.
Access to Funding: Private Limited Companies can raise funds through equity or debt financing, making it easier to expand and grow the business.
Overall, a Private Limited Company offers several advantages, making it a popular choice for entrepreneurs looking to start a business with limited liability and a separate legal identity.
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Frequently Asked Questions (FAQs)
What is the minimum number of shareholders required to register a Private Limited Company?
A Private Limited Company must have a minimum of two shareholders at the time of registration.
Q: Can a Private Limited Company be owned entirely by one person?
No, a Private Limited Company cannot be owned entirely by one person. It must have at least two shareholders.
What is the minimum capital requirement for registering a Private Limited Company?
There is no minimum capital requirement for registering a Private Limited Company. The company can be started with any amount of capital.
Is it mandatory for a Private Limited Company to appoint a company secretary?
Yes, a Private Limited Company with a paid-up share capital of Rs. 5 crore or more is required to appoint a whole-time company secretary.