Private company registration is governed by rules and regulations of the Companies Act 2013. Private Company is a type of Company, before understanding Private Limited Company Registration, let’s understand
What is meant by the company?
A Company is a legal entity and a corporate body having a common seal, and it holds the right transfer or deals in the property it in the form of holding a property or selling the property or buying the property in its own name. In order to form a company at least two shareholder and two directors should be present, however, OPC- One Person Company is an exception in which 1 director and shareholder is required, who can be the same persons. It is mandatory that one of the directors must be an Indian resident.
What is meant by Private Company?
Private Limited Company (PLC) – A Private company is a company it must have at least 2 people as the shareholder and 2 directors, the 2 directors, and shareholder can be the same.
- The shareholders are the owners and directors, who run the business.
- The directors owe the limited liability towards the shareholders and members.
- A private company can have a maximum of only 200 shareholders.
Registration Procedure for a Private Company:
- Obtain the DSC-Digital Signature certificate for the directors and such required personals who may require to sign on documents of the company.
- Apply for DIN (Director Identification Number) for the directors.
- Thereafter check the name availability for the company. The application fees for name availability check is Rs 1000/- for one time, propose two names with preference.
- Fill in the Form SPICE-32 for the application to incorporate the company.
- The MOA and AOA are required to be uploaded in SPICE-32, thus prepare the memorandum of Association and Article of Association of the company basis the object with which it has formed.
- The last step shall be to apply for PAN and TAN for the company.
