FairFax Corporate Professionals LLP

a house of corporate compliance, taxation & regulatory services

Incorporation of Private Limited Company in India

Ideal if your business is Startup and Medium size

Many advantages, Less Compliances with ROC and Minimum Fees

Incorporation in 2 days | Include Share Certificate, MOA/AOA, DSC, DIN, PAN & TAN, etc.

Eligible to appy for Startup India Recognition & Tax Exemption

Free Post incorporation consultation

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Incorporation of Private Limited Company in India

Private Limited Company at a Glance

Private limited company is an independent legal entity with limited liability. Private limited company is a limited liability company formed with minimum two and maximum fifteen directors under Companies Act 2013 and it can have minimum two and maximum two hundred shareholders/members. In this form of company, directors have limited liability to shareholders, perpetual succession, easy to manage compliances, easy equity funding, and transferable ownership i.e. sale or purchase of company.

A Private Limited Company is the most opted form of business entity for foreign investors in India. In this form of business entity foreign nationals and foreign companies can become directors and/ or shareholder and can bring foreign direct investment in compliance with RBI guidelines.

Most ideal form of Company for Startups to start business and apply for funding from Investors. With Private Limited Company you can easily chase Bankers, financial Institutions and Private Equity Investors for expansion of your business. 

Now a Private Limited Company can be incorporated with ZERO capital. Almost 90% of the companies incorporated in India are registered as private limited companies. LATERON, A private Limited Company can be easily converted into a Public Limited Company in case of expansion OR  can be converted into Limited Liability Partnership to reduce burden of ROC compliances.

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Features of a Private Limited Company (PLC)

  1. Minimum 2 Directors & Shareholders ( share subscribers) require
  2. Maximum 15 Director and 200 Shareholders ( members) allowed in PLC
  3. All Directors Should obtain DIN ( Directors Identification Number)
  4. A Body corporate can be a shareholder in PLC
  5. Annual Statutory Audit compulsory by Practicing CA
  6. Annual ROC Filing Mandatory
  7. Income Tax rate @ 22% on net profit
  8. Eligible to apply for Startup Recognition subject to other T&C
  9. Most Ideal form of business to raise external funds from Investors
  10. Can offer ESOP to its employee
  11. Separate Legal Entity and Limited Liability
... Read More ...

Documents Requirement for Private Limited Company

  1. Photographs of all Proposed Shareholders & Directors
  2. PAN card Copy of all Proposed Shareholders & Directors
  3. ID Proof - Driving License / Voter ID / Passport (anyone) of all Proposed Shareholders & Directors
  4. Address Proof - Bank Statement / Telephone or Mobile or Electricity Bill (not more than 30 days old) of all Proposed Shareholders & Directors
  5. Email ID and Mobile Numbers of all Proposed Shareholders & Directors
  6. Aadhar card ( Optional )
  7. Proposed Company Registered Office Address Proof - Telephone or Mobile or Electricity Bill (not more than 30 days old) + NOC from property owner
  8. DIN ( Optional - In case any proposed director already have Active DIN)

Our Service Coverage

After Company incorporation, you will receive below documents 

  • Company Certificate of Incorporation
  • Memorandum of Association & Article of Association (MOA & AOA)
  • PAN Card and TAN Allotment
  • EPF & ESI Registration
  • Digital Signatures (Class 2)
  • Directors Identification Number (DIN)
  • Assist in Bank A/c Opening
  • Professional Tax Registration ( in Maharastra Only)
  • GST Registration (Optional)

Company Registration Procedure in India

  • Documentation & Finalise Name First we collect documents and then send you few papers for your signature on email. Then we collect scan copy of Signed Papers from you on email. Side by side we finalise 2 proposed name of company #We can complete this in day 1
  • DSC apply Meanwhile we apply for Digital Signatures of all directors/shareholders. #We can complete this in day 1
  • Incorporation Filing In day 2 we file Incorporation form with ROC. All Forms certified by CA or CS or CMA.
  • Company Approved Generally ROC approve incorporation application in 1-2 days. Once your application approved, you will get certificate, PAN, TAN etc.

Pre-requisite for Company Incorporation

  • Proposed Company name must be unique. The suggested name should not match or identical with any existing companies or trademarks in India. # We help here to choose name.
  • All Proposed Directors must have Active DIN
  • Digital Signature for proposed Directors/Shareholders
  • Decide Paid-up Share Capital and share % between Shareholders
  • Decide Authorised Share Capital. ROC Fee & Stamp duty based on Authorised Capital. Low Capital - Less Govt Fee.
  • Decide Company Registration State and Office address
  • Decide Bank Authorised Signatory and Bank name to open your account (ICICI, BOb, Kotak, PNB)

What are the various Compliances you need to do post incorporation of a PLC

Apart from other statutory compliances like GST, InCome Tax, etc., A Private limited company must comply below without any delay.

  • File Commencement of Business (COB) e-form INC 20A within 180 days of incorporation. 
  • Appointment of an Statutory Auditor ( Practicing Chartered accountant) for Auditing Books of accounts and issue audited Annual Financial Statement.
  • Filling of ROC Annual Forms 
  • Filing of Director e-KYC

The above compliances related to the provisions of Companies Act. If it a Startup Company then keep additional expenses approx Rs 40-50K for annual audit and ROC filings. 

Incorporation of Private Limited Company in India
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