How to register a Private Limited Company?

A Private Limited Company is one of the most popular types of business entities to conduct business in India. Private Limited Company offers limited liability for its members, easy to maintain and offers greater flexibility while expanding allowing for easier access to bank loans, private equity, segregation of ownership and administration.

Requirements for registration of a private limited company is as below
  1. Obtain digital signature certificate for the directors and shareholders – Below are the mandatory documents
    • PAN of the person
    • Aadhaar of the person
  2. Obtain address for registered office of the company
  3. Below documents for address is mandatory
    • Commercial Lease Agreement
    • No Objection Certificate from Owner
    • Latest utility bill in the name of owner/Property tax challan in the name of owner mandatory
  4. Documents of the subscribers required
    • PAN of the Directors/Shareholders
    • Bank Statement/Utility Bill of the Director/Shareholders
    • Passport copy if the person holds the same
    • Photo in jpg format
Steps in Incorporation of a private limited company
  1. Apply for name of the company
  2. Submit SPICe Form with details of MOA, AOA, AGILE form, Declaration from directors
  3. Once the SPICe form is submitted to ROC, it is accepted from ROC and we receive Certificate of Incorporation from the jurisdictional Registrar of Companies.
  4. Along with Incorporation certificate, PAN, TAN for the company will also be alloted.
Post Incorporation steps

Most of the advisors stop the services once company is incorporated and incorporation certificate is received. However, there are few important compliances to be taken care of before commencing the business in the company, non-compliance of which will attract penalties to the company and directors.

  • Open bank account immediately upon incorporating the company
  • Once the bank account is opened, the subscribers need to deposit the amount of capital from their personal savings bank account.
  • Hold first board meeting of the company to transact below business
    • Appoint first auditor within 30 days from incorporation
    • Obtain declaration from the directors of the company
    • Other matters proposed to be discussed by the directors

Private limited company can add a lot of value to the profile of the business, however, the promoters are required to ensure that the compliances required by a private limited company are taken care of.

Are you interested to register a Private Company? you can reach out to us for any clarifications and help.

Elangovan Nagarajan
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