Many times startups need to borrow money and take things on credit. In case of normal Partnerships, Partners personal savings and property would be at risk incase business is not able to repay its loans. In a private limited company, only investment in business is lost, personal assets of the directors are safe.
Private limited company is popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship or normal partnerships.
Private Limited Company enjoys wide options to raise funds through bank loans, Angel Investors, Venture Capitalists, in comparison to LLPs and OPCs.
Investors love to invest in Private Limited companies as it is well structured and less strings attached. Most important it is very easy to exit from a private limited company
For startups putting together a team and keeping them for long time is a challenge, due to confidence attached to Private Limited Company structure, it is easy to hire people as well as motivate them with corporate designations and stock options.
Private Limited Company is easy to sell, very less documentation and cost is involved in selling a Pvt. Ltd. company.
Step-1 Choose a unique name for your company using RUN.
Step-2 Apply for DSC for directors.
Step-3 Drafting of DIR-2, INC-9 & Other documents.
Step-4 Drafting of Spice, eMOA, eAOA & Agile.
Step-5 Online filing of Spice, eMOA, eAOA & Agile.
Step-6 Get Certificate of Incorporation, PAN & TAN of your company.
· At least 2 Directors but maximum can be 15 directors , Out of them 1 must be resident of India
· Name of company should be unique. The purposed name should not match with any existing company or trademarks in India.
· There is no minimum capital requirement for private limited company
· Commercial space, residential space or rented space can be Registered office of company.
· There is no minimum education requirement for directors.
1. Pan Card of directors (Scanned Copy)
2. Aadhar Card of directors (Scanned Copy)
3. Voter Id / Passport / Driving License of directors (Scanned Copy of Any One Document)
4. Latest bank statement / Telephone Bill / Mobile Bill / Electricity Bill /Gas Bill (must be less than 2 months old ) of directors (Scanned Copy of Any One Document)
5. For Registered Office of Company recent copy of electricity bill or property tax receipt or water bill or rent agreement along with latest utility bill or no objection certificate from landlord are required.
6. For foreign nationals apostilled / notarized copy of passport require
1. All documents must be valid.
2. Registered office need not to be a commercial space , it can be residential space
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