Private Limited Company
A 'Private Company' is a limited company formed with minimum of 2 Shareholders and 2 Directors. The maximum number of members in a private company is restricted to 200. Shareholders could be individuals, companies or LLPs, but only individuals can become directors of a company. A director need not be a shareholder of the company and shareholders need not necessarily be directors as well.
- Shareholders / Members are the persons holding shares in a company.
- Directors of company are responsible for the management of the company affairs and legal compliance under various laws. Directors are normally appointed by shareholders. Indian company laws specify that only an individual can be appointed as a director of a company.
The name of the company should end with the words 'Private Limited'. A 'Private Limited' company is the most common incorporated business organisation in India. It is generally called as a 'Private Company'.
Requirements for Registration
A. SHAREHOLDERS / DIRECTORS / SHARE CAPITAL
1. No. of Shareholders - 2 (Individuals / Companies / LLP’s)
2. No. of Directors - 2 (Only Individuals)
3. Authorised Capital - No Minimum Requirements
4. Paid Up Capital - No Minimum Requirements
Documents Required from Shareholders & Directors
The shareholders and Directors have to produce copies of the following Identity / Address Proof documents for obtaining Digital Signature Certificate (DSC), Director Identification Number (DIN) and for filing the Incorporation Documents.
1. Identity Proof
a) Permanent Account Number (PAN) Card (Mandatory for Indian Nationals)
b) Aadhaar Card / Passport / Driving License / Voter Identity Card
2. Address Proof (Any one of the Document not older than 2 months)
a) Telephone Bill / Mobile Bill
b) Electricity Bill
c) Bank Statement
Important Notes on Document Requirements:
a. All the Copies of documents must be Self Attested by the applicant
b. Telephone Bill / Mobile Bill/Electricity Bill / Bank Account Statement must be in the name of applicant and should not be older than 2 months.
c. In case of documents that are in languages other than English, it should be translated to English with the help of a professional translator, carrying his details (name, signature, address, and seal)
d. If the proposed director has a valid Director Identification Number (DIN) and if he or she is a proposed shareholder, the address in MCA records and should match with present address proof.
B. REGISTERED OFFICE
At the time of registration of a new Company, there are Two options to record the Registered Office Address:
1. Temporary Address:
Any address of Promoters / Directors can be used as Temporary Registered Office for Registration and within 15 days of registration, the company must have a permanent address and the same to be informed to the Registrar of Companies within 30 days of Company Registration.
2. Permanent Address:
Use a Permanent Address for the Company at the time of Registration itself and in this case, there is no filing required after the Registration of the Company.
Documents required as Proof of Registered Office Address
The following document are required to support the Permanent Address at the time of registration or to file Permanent Address within 30 days of Incorporation.
a. Address Proof:
- Electricity Bill, Telephone Bill (Fixed Line Only) or Gas Bill (not older than 2 months) in the name of the Owner of Address
- Tax Paid Receipt or Copy of Registered Sale Deed
b. No-Objection letter from the Owner of Address to use the address ad Registered office of the Company.