Company Registration
Introduction
A Private Limited Company is one of the most popular business structures in India. It is suitable for startups, entrepreneurs, and small to medium-sized businesses seeking a legally recognized and scalable business entity. Under the Companies Act, 2013, a Private Limited Company can have up to 200 members.
Private Limited Company Registration gives a business a separate legal identity from its directors and shareholders. As a result, the company can own assets, enter into contracts, and conduct business activities in its own name. Moreover, the company continues to exist even if a director or shareholder leaves the company. This feature, known as perpetual succession, ensures uninterrupted business operations.
In addition, shareholders enjoy limited liability protection. Therefore, their personal assets remain protected from the company’s liabilities beyond their investment. Furthermore, a registered company gains greater credibility among customers, investors, banks, and government authorities.
The Ministry of Corporate Affairs (MCA) regulates the incorporation and compliance of Private Limited Companies in India. Business owners can complete the registration process online through the MCA portal with professional assistance.
Reasons to Register a Private Limited Company
- Easy Transferability
- Limited Liability
- Perpetual succession
- Improves credibility
Requirements for Incorporation of a Private Limited Company
Companies Act, 2013 has listed the following requirements for the incorporation of a Pvt. Ltd. company
- Passport size photo
- DIN (Director identification no.)if any
- DSC (Digital signature certificate) of all directors
- Minimum 2 Directors
Note– One Director must be Indian Resident - PAN Card
Self-attested PAN Card of Members and Directors. - Identity Proof of Directors
Self-attested ID proof of Members and Directors- (Anyone out of the following -Valid Passport/Voter ID/Aadhar Card/Valid Driving License) - Address Proof
Self attested Address proof of the Members and Directors (Any one out of the following – Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill which and it should be not older than 2 months - Business Address Proof (Rented/Leased)
If proposed Registered Office is taken on Lease – NOC from Landlord/Lease Agreement/Utility Bill (Either Electricity Bill or Mobile Bill or Telephone Bill) (Should Not be Older than 2 Months) - Business Address Proof(Owned)
If the proposed Registered Office is not taken on Lease – NOC from the Owner of Property/Property Papers (Title Deed)/Utility Bill (Either Electricity Bill or Mobile Bill or Telephone Bill) (Should Not be Older than 2 Months)
Basic Information Required
- Authorized and Paid-up Share Capital of the Proposed Company and Number of Shares Subscribed by Members.
Explanation: A Company can be commenced with any amount of capital. There is no need for a minimum capital amount. - Place of Birth and Duration of Stay of Members and Directors at Present Residential Address.
- Occupation of Members and Directors.
- Proposed Object/Business of the Proposed Company.
- Educational Qualification of Members and Directors.
- Email IDs and Contact Number of Members and Directors.
Process of Private Limited Company Registration in Jaipur
The Ministry of Corporate Affairs vide its notification dated 18th February 2020 effective from 23rd February 2020 has further amended the Companies (Incorporation) Rules, 2014 thereby substituting the old Form INC-32 (SPICe) with web service SPICe+ along with certain other amendments.
First, applicants must apply for company name reservation through the SPICe+ web service available on the MCA portal. Before submitting the application, they should verify the availability of the proposed name and check for any existing trademark conflicts. Additionally, applicants can reserve the name separately or proceed with incorporation through Part A and Part B of SPICe+.
Next, applicants must complete Part B of SPICe+ by providing details about directors, shareholders, registered office address, and share capital. Furthermore, the portal allows users to save and edit information before final submission.
After completing the form, applicants should generate the PDF version and affix the Digital Signature Certificate (DSC) of the proposed directors and subscribers..
Applicants must upload the signed forms and supporting documents to the MCA portal. Subsequently, MCA officials review the application and verify the submitted information.
Declaration of all Subscribers and first Directors of the company which is currently being filed in Form INC-9 will be automatically generated in pdf format and shall be submitted only through Electronic form in all cases, except in case:
a) The no. of subscribers and/or directors is more than 20.
b) Any of the subscribers and/or directors do not have DIN and PAN
Changes As Per The Amendments Introduced Recently
- No need to mention SRN
There is no need to mention SRN for names reserved in Part A of SPICE+ as the same will be automatically displayed while filing Part B after filing of Part A. - Mandatory Registration for ESIC and EPFO
All new companies must register for ESIC and EPFO. - Mandatory Registration for Profession Tax
Certain states require all newly incorporated companies to obtain Profession Tax registration from 23rd February 2020. - Mandatory Application for opening a bank account
Every newly incorporated company must apply for a bank account through AGILE-PRO. - Declaration of Company’s Subscribers and First Directors in PDF form & e-submission
Applicants should generate the PDF version and sign it using DSC.:- No. of subscribers and/or directors is more than 20.
- Any of the subscribers and/or directors don’t have DIN and PAN.
When e-MoA and e-AoA Are Mandatory
Companies must use e-MoA (INC-33) and e-AoA (INC-34) in the following situations:
- Individual subscribers are Indian nationals.
- Foreign national subscribers possess a valid DIN, DSC, and business visa.
- Non-individual subscribers are based in India.
Applicants must sign and attach physical copies of MoA and AoA in the following situations:
S. No. Cases Forms to be filed 1. Non-Individual first subscriber based outside India SPICe+ (INC-32) with apostille MOA and AOA as attachments 2. Non-Individual first subscriber based in India SPICe+ (INC-32) with linked filing of e-MOA (INC-33) and e-AOA (INC-34) 3. Indian National being Subscriber other than Director SPICe+ (INC-32) with linked filing of e-MOA (INC-33) and e-AOA (INC-34) 4. Indian National being Subscriber-cum-Director SPICe+ (INC-32) with linked filing of e-MOA (INC-33) and e-AOA (INC-34) 5. Foreign National being Subscriber other than director having valid DIN SPICe+ (INC-32) with linked filing of e-MOA (INC-33) and e-AOA (INC-34) along with Valid Business Visa to be submitted. In case Business Visa is not available, apostille MOA and AOA shall be attached and in such cases, e-MOA (INC33) and eAOA (INC-34) are NOT acceptable. 6. Foreign National being Subscriber-cum-Director having valid DIN SPICe+ (INC-32) with linked filing of e-MOA (INC-33) and e-AOA (INC-34) along with valid Business Visa to be submitted. In case Business Visa is not available, apostille MOA and AOA shall be attached and in such cases, e-MOA (INC33) and e-AOA (INC-34) are NOT acceptable. 7. Foreign National being Subscriber-cum-Director not having valid DIN SPICe+ (INC-32) with apostille MOA and apostille AOA as attachments. Additionally, the SPICe+ form allows a maximum of seven subscribers. However, when the number of subscribers exceeds seven, applicants must attach the MOA and AOA separately with the incorporation application
- Filing of Statutory Return
Finally, companies incorporated through SPICe+ must file statutory returns if they cross the prescribed threshold limits.