Company Registration in Jaipur – Private Limited Company is one of the most renowned ways of doing business in India. Private Limited Companies are now governed by The Companies Act 2013, earlier these were governed by The Companies Act 1956. Private Limited Companies are one of the most appropriate mediums to conduct business by startups and growing entities.
There are some advantages of Private Limited Company Registration in Jaipur for your business such as Raising Funds from Investors, Limited Liability, Separate Legal Identity, and Lower Tax rates in comparison to Limited Liability Partnership and Partnership firms.
Alonika.in is the right option to begin the journey. Get Pvt Ltd Company Registration in Jaipur by Professionals like Chartered Accountants and Company Secretaries. Just contact us for Private Limited Company Registration and stay focused on the dreams of success.
Documents Required for Private Limited Company Registration
- PAN Card and AADHAR Card of all the proposed Members and Directors. Passport in case Foreign Citizen.
- Bank Statement of Proposed Members and Directors not older than 2 months
- Latest Passport Size Photographs of Members and Directors
- Contact details of all the proposed Members and Directors
- Proposed Name for Company
- Business Object
- Education Qualification of Proposed Directors and Members
- Occupation of Proposed Directors and Members
- Shareholding Ratio
- Address details of registered place of business (Electricity Bill / Rent deed / Copy of registry / Consent and NOC of Owner)
Advantages of Pvt Ltd Company Registration
Limited Liability: It is one of the most important factors of a Pvt. Ltd. company that saves the members from being personally affected by the fall but not the growth of the company. If the company incurs big losses, more than its assets, the owners, or the members, personal assets remain untouched. They are not required to liquidate and liquefy their personal properties to pay off the debts and losses the company makes protecting the individual investors.
Perpetual Business Entity: A Pvt. Ltd. company, once registered, is considered an individual under the law. It remains unharmed under different situations and survives unless the company is winded up following a legal procedure. It means that the status of the members does not impact the life of the business. So even if the owners pass away, go bankrupt, or have to liquefy assets, a Pvt. Ltd. company remains unaffected and continues to live till someone closes it.
Shareholders: A Pvt. Ltd. company requires as little as two shareholders for registration, unlike Public Limited which requires seven. Aside from the number of shareholders, it is also the advantage that the shareholders get that becomes important. The shareholders, owners, and founders, in short, all the company members get the power to sell off or transfer their shares anytime and to anyone.
Members: Entrepreneurs may not be willing to trust many people with their idea and business, in the beginning, to let them have ownership of it. The lesser number of members, which is two, in this case, helps many Entrepreneurs. However, with time, growth, and scaling, one may want to add up the numbers of shareholders in the company. The minimum requirement for registration is 2 and the maximum number of members is 200 as per the company’s different requirements at different times. In this case, along with individuals, even a corporate entity can become a shareholder of the company.
Fund Raising: While the benefits of a Private Limited Company registration are enough to attract the Entrepreneurs, it has similar effects on investors, which is why getting funds is easier for Pvt. Ltd. Company.
Frequently Asked Questions
What is a Private Limited Company?
What is the number of Shareholders required to incorporate a Private Limited Company?
How many Directors are required in Private Limited Company?
What is the capital required to start a Private Limited Company?
Can a Salaried person become the director in Private Limited Company?
What are the types of Private Limited Company?
- Private company limited by guarantee, which is a company without shares but is guaranteed by the members who agree to pay a fixed amount of capital in the event of the company liquidation.
- Private company limited by shares, herein the company has shareholders with limited liability and its shares are not generally offered to public.
What are the myths of a Private Limited Company?
- Private Limited Company is costly.
- Meeting of shareholders must be conducted frequently.
- The Tax rates are lower for the proprietorship and Partnership.
Can a private company convert itself into a One Person Company?
- It must have a paid up capital of less than Rs. Fifty Lac;
- It must have its average annual turnover of less than Rs. 2 Crore.
How can a private limited company be converted into a One Person Company?
- A private limited company has to obtain a No Objection in writing from members and creditors prior to its conversion.
- Post obtaining the same, it will have to pass a Special Resolution in the General Meeting.
- The One Person Company shall file copy of the Special Resolution with the Registrar within thirty days from the date of passing such resolution in Form No. MGT. 14.
- The company shall file an application in Form No. INC. 6 for its conversion into One person Company.