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Private Limited Company is one of the highly recommended ways to start a business in India. This type of company offers limited liability for its shareholders with certain restrictions placed on the ownership. An LLP has partners, who own and manage the business. Whereas in private limited company registration, directors may be different from shareholders.
Register a company today to get funding and tax benefits.
Algocorp, a leading business consultant, offers quick Company Registration service in India with three simple steps
A Certificate of Incorporation (CoI), along with PAN and TAN can be received post approval of the company registration process. You can officially open a current bank account with the Certificate of Incorporation and begin your business operations.
Registering a company offers many benefits. A registered company makes it genuine and increases the authenticity of your business.
According to the law in the Company Act, 2003 in order for any company to be registered in India, the below conditions have to be met.
Two Directors:
A private limited company must have at least two directors and at most, there can be 15. Of the directors in the business, at least one must be a resident of India.
Unique Name
The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.
Minimum Capital Contribution:
There is no minimum capital amount for a company. A company should have an authorized capital of at least Rs. 1 lakh.
Registered Office:
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NoC is obtained from the landlord.
Company Registration in India will boost the progress of startups and provide an additional edge over those who have not registered. The Ministry of Corporate Affairs governs the company registration process with rules and regulations framed in accordance with the law.
One of the primary steps in Company Registration is to ensure that the company name has not already been taken by another legal entity. We can run a company name search to check the availability of the particular name in India against the MCA and trademark database.
We recommend the businesses to come up with three to four alternative names during the approval stage of Private Limited Company Registration. The Ministry of Corporate Affairs will be the final authority to approve the name based on the availability rules and regulations.
If you are disappointed that a preferred name is taken, do remember that the name of your company doesn't have to be your brand name. However, if you're going to trademark your brand name, also check if it has already been trademarked at http://www.ipindia.gov.in/. If it has been trademarked, you would need a no-objection certificate from its owner to have it approved as your company's name.
In India, Private Limited company registration cannot be done without proper identity proof and address proof. Identity and address proof will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.
Identity And Address Proof
For the foreign nationals, apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof
For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/his consent to use the office as a registered office of the company should be submitted.
Note: Your registered office need not be a commercial space; it can be your residence too.
The Private Limited Company Registration process is completely online, so you don't even have to leave your home to get your entity registered. At Algocorp, we complete the Company Registration online within 14 days.
Our Company Registration package includes:
