Registering your business as a private limited company provides a legal existence to your start up. Your company gets a life after registering it and it can be closed only through legal intervention. However, if you want to carry out the process of private limited company registration, it will be heavy on your time as it involves a tedious and long procedure. The private limited companies can be registered and incorporated based on the provisions and law based on Company Act 2013. In addition, there should be minimum of 2 members and maximum of 200 members in the organization to be registered as a private limited company.
Minimum Requirements:
- Minimum two persons who act as shareholders and directors
- Minimum capital is one lakh
- Director Identification Number of the director
- DSC for all directors
- Consents from the directors or subscribers
- Proof for registered address
- No objection certificate from the owner of the premises
- Two colored photos of all persons
- Pan card of all persons
- Valid address proofs of all persons
Let us see unique terms mentioned under minimum requirements in detail:
Director Identification Number?
Director Identification Number or DIN is a unique number issued by the Ministry of Corporate Affairs or MCA to the existing director or to the person who has been assigned to become the director of the company. Of course, it is very important to receive this DIN before applying for company registration.
DSC Or Digital Signature Certificate:
Digital signature is the electronic format of paper certificates such as driving license and passport. These certificates are used as an identity proof for the individuals. As MCA accepts the electronic submission of these forms on its official site, it is extremely important for every member of the company to submit DSCs.
If you have all these certificates with you along with the minimum capital of one lakh, your business can be subjected for pvt ltd company registration.
Understand The Registration Process:
Now, it is not going to be a daunting task for you to file an application or sent request to the solicitors who can facilitate you with the online registration process of your company. This online registration process prevents you from spending a huge amount and investing a lot of efforts. Once you have placed your request, you will be receiving a call from the law firm or solicitor who will assist you in the entire process of launching a new business in your preferred destination. You have to follow only simple procedures to ensure your company registration. In addition to this, you also have a small responsibility, which is nothing but choosing a few names for your company.
Your suggested names will be checked to existence of your company name. Submitting all the required documentation is also very important to avoid unnecessary omission of your application. Of course, there are certain rules and regulations of corporate law that you must follow while presenting the required documents for registering your business as a private limited company. You can surf the internet to get well versed with those rules and regulations.