Online-Private-Limited-Company-Registration

PRIVATE COMPANY REGISTRATION | ONLINE PRIVATE LIMITED COMPANY REGISTRATION | TRIJURIS

In this article, we will learn about private company registration or online private limited company registration in India, documents required for online company registration in India, and fees for PVT LTD company registration.

INDEX OF CONTENTS

Introduction;
Other forms of business in India;
Advantage of private company registration;
pvt ltd company registration documents;
Process of online private limited company registration;
FAQ.

INTRODUCTION

In order to start a new business, there are lots of forms to start with, however, a private limited company is the most popular form, if you are thinking to start your business. A private company is a legal entity registration, In which the Companies Act, 2013 Rules as prescribed there under. The best advantage of registration of a private limited company is that it is easy to raise funds from the market, creditworthiness, flexibility and there are other advantages as well.

The definition of the word “private limited company” has been provided under Section 2 (68) of the Companies Act, 2013. Ministry of Corporate Affairs (hereinafter referred to as the “MCA”) has simplified the process of registration of the private limited company by introducing the SPICe+ form. The full form of SPICe+ is Simplified Proforma for Incorporating Company Electronically. This form is a web-based integrated form wherein Name reservation, allotment of DIN, PAN, TAN, ESI, EPF, and even GST registration can also be applied.

For online private limited company registration or private company registration in India minimum of 2 persons are required. MCA has ease down the whole process after introducing SPICE+ and AGILE-PRO forms. Due to this initiative, the whole process of online registration of PVT LTD companies becomes very easy. The process is fully online and no needs to submit any documents in person.

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274

WHAT ARE THE OTHER FORMS OF BUSINESS IS THERE IN INDIA?

1. Public Limited Company

REGISTRATION OF PUBLIC LIMITED COMPANY is being governed by the Companies Act 2013 as amended from time to time. It contains a minimum of 3 directors and has a separate legal entity. The person interested in forming a public limited company needs to file the SPICE+ form. We help in incorporating a Public Company. Let’s Connect!

2. Limited Liability Partnership (LLP)

LLP is different from a partnership firm as it is a registered form and the liabilities are limited to the capital as contributed by the partners. It is much advisable to form an LLP as compared to a partnership firm as the LLP can easily do such activities which a partnership firm cannot do. For Registration Process of Limited Liability Partnership (LLP) in India, go to the below link:

3. One Person Company (OPC)

OPC form is a very interesting form of doing business. In OPC one can start a business easily without the need of any second person although 1 nominee is required however, in this form all the decisions are being taken by one person only and not through mutual concern. One can connect us to register an OPC Company. For Online One Person Company (OPC) Registration, go to the below link:

Latest updates dated: 07/06/2021

The Companies (Incorporation) 4^th Amendment Rules, 2021

A new AGILE-PRO-S Form- INC-35 has been launch by Ministry of Corporate affairs (“MCA”).

Registration of Shops and Establishment is now made mandatory.

Under Rule 38A of the Companies (Incorporation) Rules, 2014, – the aforesaid related changes are being made.

Here is the link to MCA: https://www.mca.gov.in/bin/dms/getdocument?mds=r2JGVOj52RJgsqksMI8Hqw%253D%253D&type=open

FAQs ON SPICE+ https://www.mca.gov.in/bin/dms/getdocument?mds=X3cH6uXGzZNpF8Q%252F49dYAg%253D%253D&type=open

REQUIREMENTS FOR PRIVATE COMPANY REGISTRATION

Before proceeding with Online Private Limited Company Registration or PVT LTD Company Registration, you must fulfill the following requirements.

As previously discussed, you need to have at least two persons for the registration of a Private Limited Company.
We shall refer to these individuals as the directors of the company.
The maximum number of members in a private limited company can be 15 directors;
One out of 2 people who are acting as a director must of Indian national and Indian resident
At least one registered office of the company must be there from where all the operation shall be in force
DSC (Digital signature certificate) and DIN(Director identification number) are also the requirements for registration of a private limited company. Read more at https://www.trijuris.com/digital-signature-certificate/

ADVANTAGES FOR PRIVATE COMPANY REGISTRATION

Perpetual succession	As the private limited company has a separate image in the eyes of law the company enjoys perpetual succession. Member may come or member may go however the company can be operational forever.
No minimum capital requirement	A few times back it was a compulsion on a private limited company to have a minimum paid up capital of at least 1 lakh however now this requirement has been taken away and now it is optional.
Limited liability of the member	In the case of a Private Limited Company, the liability of members is limited to the share introduced by them and no personal assets can be affected in case of any uncertainty.
Transferability of shares	In a private limited company, there is no restriction on the transferability of shares. Hence, the same can easily transfer to anybody.
Name	Yes! It is mandatory for all private limited company to affix the word “Private Limited” at the end of its name e.g ABC Private limited, XYZ private limited, etc.,

Advantage of pvt ltd company registration

LIST OF DOCUMENTS REQUIRED FOR ONLINE PRIVATE LIMITED COMPANY REGISTRATION OR PVT LTD COMPANY REGISTRATION

Signed copies of the following documents are required for private company registration:

For ID proof of proposed directors	PAN card for Directors of the Indian nation Passport for Foreign Nationals
For address proof of proposed directors	Aadhaar card/Passport/Voter ID card/Driving license/Utility Bill/Rent agreement/bank statement
Utility bill shall not be older than 2 months
Address proof of the registered office of the company	Rent Agreement, NOC/Lease Deed/Sale deed (Owned property)
Passport size photos of all proposed directors

PVT LTD company registration documents

FOLLOWING STEPS NEEDS TO BE TAKEN FOR PRIVATE COMPANY REGISTRATION

Here are the brief steps to ensure for registering the private limited company.

Step 1: Obtaining of Digital signature certificate (DSC)

Step 2: Obtaining of Director Identification Number (DIN)

Step 3: Checking of name availability

Step 4: Preparation of MOA, AOA, and other documents

Step 5: Filing of form for registration of a private limited company

Step 6: Liaisoning with the Registrar of Companies for getting the incorporation certificate

For more information, please contact us on info@trijuris.com or call us Mb. No. 85100 58386 or 9310 717274

Let’s understand these steps in a detailed manner:

STEP 1: OBTAINING OF DIGITAL SIGNATURE CERTIFICATE (DSC)

Digital Signature Certificate, also known as DSC, holds significant importance. It assumes the form of a pen drive, commonly known as a token, where individuals insert the certificate. Essentially, it serves the purpose of signing online applications and/or documents. Moreover, it stands as one of the mandatory requirements for subscribers of the memorandum of association and articles of association. Certifying agencies are responsible for issuing DSCs. It is worth noting that, as of now, obtaining a Class 3 DSC is mandatory for signing all applications, while Class 2 DSC is no longer applicable. If you wish to obtain a Class 3 DSC, you can get in touch with us.

Time limit: You can prepare the DSC within 1 to 2 days.

STEP 2: OBTAINING OF DIRECTOR IDENTIFICATION NUMBER (DIN)

Like PAN identifies a person, DIN identify director. MCA issues it as an identification number. Because One DIN is sufficient for a director. If you want to be a director in a company you need to take DIN without which you cannot be a director in a company. For obtaining DIN you just need to provide the identity as well as address proof

Time limit: You can obtain the same within 1 to 2 days.

STEP 3: CHECKING OF NAME AVAILABILITY

For checking the availability of names there are two options. The first is to file a RUN form and the second is to apply in SPICe+. Let’s discuss it in detail:

Option I: As we discussed, you can check the availability of the name through the Reserve Unique Name (RUN) form. Essentially, this is a web-based form for checking the availability of names.

Initially, they allowed only 1 attempt, and they didn’t provide any other chances unless someone had something to comply with the rules, i.e., the Companies Incorporation Rules.

Please note that you do not require DSC or DIN, as discussed above, for filing the RUN application form.

The government charges a fee of 1000/- for filing the RUN application form, and the same fee applies in the case of re-filing the RUN application form.

Please note that in the year 2018, MCA decided to relax the norms and allowed applicants to apply for two proposed names in the RUN application form.

Option II: In addition to the first option, the second option is to apply for the name through the SPICe (INC-32) form. However, please note that you can apply for only one proposed name through this form. In this form, one more chance is provided to the applicant in case of non-approval of the name.

Time limit: This process takes around 1 to 2 days to complete

STEP 4: PREPARATION OF MOA, AOA, AND OTHER DOCUMENTS

The MOA and AOA are the most crucial documents, and hence, you must give due consideration before preparing these documents. You should approach experienced professionals for assistance. These are the charter documents of any company. In order to simplify the process of registration MCA has introduced e-MoA and e-AoA. e-MoA stands for electronic Memorandum of Association and e-AoA is electronic Articles of Association. To be very specific, AOA governs the internal affairs of the company and MOA governs the represents the charter of the company. ie., an external relationship of the company. e-MoA and e-AoA are just like other forms. You should attach them with the SPICe form for registration of the private limited company

STEP 5: FILING OF FORM FOR ONLINE PRIVATE LIMITED COMPANY REGISTRATION OR PVT LTD COMPANY REGISTRATION

Once you have completed all the other steps, you can proceed to fill and file an application for the registration of a private limited company. In the web-based integrated form, known as form SPICE+, you should fill in details such as SPICe_MOA, SPICe_AOA, AGILE-PRO, and INC-9 forms before filing the form. Additionally, you should also fill in details of directors and subscribers in the form.

The applicant needs to pay the requisite stamp duty. Which is varying from state to state. You need to digitally sign all the forms and, after uploading all the forms and attaching your application, you have successfully submitted it. You also need to attach the DSC (Digital Signature Certificate) of the professional with this form for certification purposes. The Advocates, CA, CS CWA are the professional who can certify the form

STEP 6: LIAISONING WITH THE REGISTRAR OF COMPANIES FOR GETTING THE INCORPORATION CERTIFICATE

This is the final step for registration of a private limited company. After filing of aforesaid forms and documents if there is any concern being raised by the Registrar of Companies (“RoC”). The same shall be resolved by reverting to the concern being raised, once it is done and accepted by the RoC certificate of incorporation of the company shall be provided by the RoC.

FAQ on Online Private Limited Company Registration

Ques: 1. How to register a Private Limited Company?

It is easy to start a private limited company. A time of 3 to 4 days is required for registration of Private Limited Company. We just need a time of 1 day in order for preparing all the documents.

Ques: 2. How many people are required to incorporate a private limited company?

It is to be noted that a minimum of 2 persons are required in order to incorporate a private limited company.

Ques: 3. What is the meaning of limited liability in case of a private limited company?

Under the limited liability feature, the person’s liability is limited to the amount being introduced in a company by the applicants. Unlike in proprietorships and partnerships wherein the liability is unlimited. In case of any kind of uncertainty arise, personal assets can also be attached .

Ques: 4. Can a registered office of the company be at a residential property?

The answer is Yes! The registered office of the company can be on residential property.

Read our other articles:

ROC compliance checklist for Private Limited companies 2021: https://www.trijuris.com/annual-compliance-for-private-limited/
Trademark registration process (step by step) in India: https://www.trijuris.com/trademark-registration/
A Step-by-Step Guide to GST Registration Procedure in India: https://www.trijuris.com/gst-registration/
One Person Company (OPC) Registration: https://www.trijuris.com/opc-registration/
HR policies for a startup company in India: https://www.trijuris.com/hr-policies/