Do you want to start your new business? In India, the most common structure for business is a Private Limited Company Registration preferred by the most of the entrepreneurs. But the most crucial step for starting a business is to establish your company. Let’s discuss about it in this article-
Benefits of Private Limited Registration
- Limited Liability
- Separate Legal Identity
- Credibility & Trust
- Tax Benefits
- Easy Ownership Transfer
- Brand Protection
Process of Private Limited Registration
- Step 1 — Planning & Documentation: Before going for the registration, you should make sure that you have all the required documents.
- Step 2 — Apply for DSC: As the company formation process is 100% online, hence all the directors of the company must need a DSC i.e. Digital Signature Certificate.
- Step 3 — Name Approval: After that, you should apply for the name approval via SPICe RUN. Just remember that the name of your company must be unique and does not identical to any other existing name.
- Step 4 — Filing SPICe Form: After the name approval you should fill the SPICe Form for the company registration.
- Step 5 — Filing of MoA & AoA: You should file the SPICe e-MoA & e-AoA forms at the time of registration. In MoA, you should have to define the goals & objectives of your company. In AoA, you should have to define the rules & regulations related to the management & internal structure of your company.
- Step 6 — Issuance of PAN, TAN, & Incorporation Certificate: PAN, TAN, & Incorporation Certificate of your company will be issued by MCA (Ministry of Corporate Affairs) after the approval of the documents mentioned above.
- Step 7 — Bank Account Opening: At last, you must have to open a current bank account in the name of your company.
Documents Required For Private Limited Registration
- Aadhaar Card
- PAN Card
- Passport Size Photo
- Email & Contact
- Electricity Bill ( for office address)
- Rent Agreement
- NOC
- Bank Statement
Final Words
As there are many benefits of private limited company so, is the most popular choice of the entrepreneurs, who want to start their business, is Private Limited Registration. But before that, you should have to understand all the aspects of the company formation process that has been discussed earlier.