Private Limited Company Registration 101: Getting Ready for Business

In the startup wave, it is extremely important for a visionary leader to get prepared on time to leverage lucrative market opportunities. To start a business in India, it is important to get a legal stature. And what’s better than going for private limited company registration if you are going for a long shot. All over the globe, entrepreneurs choose to register their venture as a private limited company owing to ease of registration along with several other benefits.

Why go for private limited company registration?

Separate Legal Identity

A private limited company enjoys an independent legal stature different from its members. A company is a separate person in the eyes of the law.

Perpetual Succession

The operations and existence of a company do not get affected by death, departure or entry of one or all its members. This means that the company can keep on running its business even if someone leaves midway.

Limited Liability

A critical advantage of starting a private limited company is that the liability of the members with respect to the debts is limited to the face value of number of shares held by each member.

Borrowing capacity

A company can borrow funds from many different avenues. Banks and financial institutions prefer lending financial assistance to a registered company instead of a partnership or sole proprietor firm.

Who can register a private limited company in India?

Any person can go for registration of a private limited company. But to actualize the formation of a company, one should fulfill the following criteria:

• The proposed company should have minimum of two shareholders
•  The proposed company should have two directors with one director being an Indian resident
• All the directors should possess DIN (Director Identification Number).

Online PLC Registration: Document Required

A popular choice within startup community, private limited company can be easily registered through a simple online process. Before moving ahead with private limited company registration, one must gather the following documents:

•  PAN Card copy of all the directors
• Passport size photographs of all the directors
• AADHAR/Voter ID card copy of all the directors
• In case of own property, copy of property papers else rent agreement copy
• Copy of electricity/water bill
• NOC from landlord in case of rented property

Once you gather all these documents, you can move ahead with online private limited company registration. You can either go on to register the company all by yourself or take professional help from expert business registration professionals. Going the professional way is much easier and more streamlined as these professionals guide an entrepreneur at every step- providing solutions to all legal hiccups and hurdles, in case one arises.

If you are thinking of starting your own venture and want to go for private limited company registration, you can get in touch with consultants from True Startup. Having rich experience in assisting visionary entrepreneurs, True Startups provide astute guidance and complete support throughout the registration process right from collecting the information to the delivery of incorporation certificate.