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Private Limited Company - An Overview

A Private Limited Company is one of the most efficient and widely adopted forms of privately held business entities, offering limited liability protection to its shareholders. It is governed by the Ministry of Corporate Affairs (MCA) and regulated under the Companies Act. At Firststartup, we ensure seamless registration within 7 days, along with complete compliance support.

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Table of Contents

Private Limited Company - An OverviewWhy Private Limited Company is Being Preferred in India?Documents RequiredMandatory RequirementsRegistration ProcessAnnual Compliances

Private Limited Company - An Overview

A Private Limited Company is one of the most efficient and widely adopted forms of privately held business entities, offering limited liability protection to its shareholders. It is governed by the Ministry of Corporate Affairs (MCA) and regulated under the Companies Act. At Firststartup, we ensure seamless registration within 7 days, along with complete compliance support.

Why Private Limited Company is Being Preferred in India?

•It's a separate legal entity, you won't be liable personally
•Saves from higher incomes tax
•More tax deductibles allowances and cost
•More funding options like private equity & ESOP
•Benefit under Start-up India scheme of government of India
•Quick & easy transferability of shares
•High credit rating and easy funding by bank
•100% FDI (Foreign Direct Investment) is allowed

Documents Required

For Directors and/or Shareholders
•PAN and AADHAR of Directors and shareholders.
•Identity Proof of Directors & Shareholders (Passport / Voter Id / Driving License)
•Address Proof of Directors & Shareholders (Banks Statement & Electricity bill)
•Latest Electricity bill, telephone bill & Bank statement of directors
•Passport size photo of directors and shareholders
•If property on rent, then rent agreement with NOC from landlord
For Company
•Latest Electricity bill / Telephone bill(Landline)/ Legal Ownership
•If property on rent, then rent agreement with NOC from landlord

Mandatory Requirements

•Minimum 2 or maximum 200 members or shareholders
•Minimum 2 or maximum 15 Directors holding a valid DIN ( Director Identification Number)
•1 Director has to be an Indian Citizen and Indian Resident
•Unique Company Name
•Minimum authorised capital of INR 1 Lakh
•DSC (digital signature certificate) of every director

Registration Process

Registering a Private Limited Company with Firststartup is a simple and streamlined process. Here are the key steps:

  1. Apply for DSC (Digital Signature Certificate):
    Obtain digital signatures for all proposed directors.
  2. Apply for Name Availability:
    Propose up to 4 unique company names. One will be selected and approved by the MCA.
  3. Filing of SPICe Form:
    File e-MOA & e- AO
  4. Apply for PAN & TAN:
    Apply for PAN & TAN of the company
  5. Open a Current Bank Account:
    Open a current bank account on the company name
  6. Filing of "Commencement of Business" Form:
    Filing of "Commencement of Business Form" on MCA

Annual Compliances

PLC is required to maintain stringent compliances post registration; these compliances differ for listed PLC's and unlisted PLC's.

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