In the market one can find several business entity options with the help of which the businessmen can start and carry out a business smoothly. It may be a small entity such as a proprietorship firm or even a company. With a minimum of 2 Directors or partners, famously incorporated legal entity is a Private Limited Company, with peculiar generalizations of business ethics, PLC gives you rights in doing business anywhere in India or outside. Governed by the Ministry of Corporate Affairs under Companies Act, 2013 and the Company Incorporation Rules, 2014, a PLC is a corporeal organization mostly acclaimed by family owned business folk and people running small businesses.
The complete Private Limited Company Registration process is described in short bits
- Run Name Approval
Cardinally, what step you need to take is to obtain and approve your first name for the proposed company names from the Ministry of Corporate Affairs. The MAC might provide up to 2 names. If both the names are not approved, you can re-submit your documents.
For the Directors of the company, the digital signature must be obtained. This is an essential factor. Without the digital signature, Incorporation application will remain due.
- Incorporation Application
The application is submitted in support with the Ministry of Corporate Affairs in SPICe form.
Documents Required for Private Limited Company Registration
The documents include KYC of the Directors in the form of PAN as a mandate. Other than this you will have to submit- Voter ID/Passport/Driving License, etc. With the Business address proof section you have to provide your latest utility bill that includes electricity bill or telephone bill or ration card or latest tax receipt or ownership deed of the property to be taken up as a registered office.
In the process of Private Limited Company Registration, you will find many people who will try blind you with their words. Choose your option wisely while registering. What makes a Private Limited Company different is because of its protection of liability of shareholders, ability to raise funds of equity gracefully, is a separate legal entity status which asserts its existence individually. If you are going for a certain online site for helping you in the Private Limited Company for Registration Process, they are certainly of great and instant help.
Working 24 hours a day, provide the users with apt appliances. In just 3-4easy steps your Private Limited Company for Registration Process gets over without you moving here and there restlessly for getting registered. If your member is an NRI, he will have to submit Driving License Bank Statement and passport as mandatory proofs of his existence.
Reasons for choosing a Private Limited Company
As the Private Limited Company Registration Process is simply attributed with MAC, the company provides credibility, attracts funding, protects assets of the promoters, has an exit agenda if the company gets diluted, invites foreign investment and offers stock ownership.
A PLC is a budding company procedural metamorphosis in the business world. Entrepreneurs with higher dynamics and substances should opt for this.