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Private Limited Company Registration in Shimoga
MS Legal Associates:
Private Limited Company is a legal business entity that is registered and governed by the laws and rules laid down in the companies act 2013. As it is a legal entity it can be closed as per the law only. For a private limited company the upper limit for the number of its members is 200 and minimum 2 shareholders are required to open a private limited company. It is the most unexceptional form of business in India as it comprises the features of a public limited company and a partnership firm. In a private limited company, permission from all the current shareholders is required prior to introducing a new shareholder in the company.
About Private Limited Company
New company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
A minimum of two and maximum of 15 directors. There can be anywhere from two to 50 shareholders.
All directors must provide identity and address proof, as well as a copy of the PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.
The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. As all documents needed are electronic, partners need a DSC.
You need to first ensure that your company name has not already been taken. This can be done by checking the MCA website. However, if you're going to register the brand name, also check if it has already been trademarked. While framing your name, ensure that it has a unique component that you coin and a descriptive one that specifies the business you're in.
AOA & MOA - These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.
Advantages of a Private Limited Company
Limited liability, personal assets of shareholders are not seized
Existence of business is not dependent on the life of the owners
Easy to rise funds from financial institutions
Private limited companies enjoy tax benefits
High Business Valuation at the time of mergers and acquisitions
Have the right to sue and vice versa in company's name