Numerous legal protocols are in place when you are planning to start a company. Not only you need to be deciding on the business structure, but you need to have an idea on how to plan out pvt ltd company registration. There are various forms of company registration modules in place. The legal formalities and requirements of each of them turn out to be different. But if you are planning to set up a business in India it is better to opt for a private limited company. Not only it provides you with limited liability protection but the structure is stable. There are various registration consultants who would guide you about the process in details.
The requirements for private limited company registration
It is better if you are able to understand the modules of private limited company registration so that the process is smooth.
- Number of members- you may have 2 to 200 members and shareholders to register the company.
- Director – the company needs to have a couple of directors. From the ministry of corporate affairs each director needs to have a DIN. Even one of them has to be a resident of the country.
- Company name- three components formulate the name of a company. First would e the actual name that you want the company to possess. Secondly would be registering the activity of the business that you are planning to do. Finally it would relate to private limited company.
- Digital signature certificate- in the current digital era most of the businesses have opted the online route. So it is necessary that when you register a private limited company have a digital signature certificate. This would replicate your real sign. The directors who are part of the company needs to have this signature and it has to be part of all the digital documents that is authorized by the directors of the company.
- A registered office address has to be there- when you are going for registering your company do not provide temporary address for documentation purposes. After the registration is complete you need to provide the address to the registration office. You need to be aware that it is a core place where all the functions are conducted and along with it you keep the important documents.
This pretty much sums up the protocols in place for registering a private limited company. Of late there has been an increase when it comes to registration of a private limited company. One of the main benefits of a private limited company is a separate form of legal entity. It would point to something that has a legal existence just like a real person. Such a form of an organization would be having legal capacity and would be able to own property and debts may be incurred. The shareholders do not have any liability to the creditors of the company in the form of debts. The legal entity would be separate from the owners.