Public Limited Company
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Public Limited Company Process
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Complete Process
Overview
A Private limited company is a privately held business entity held by private stakeholders. The liability arrangement, in this case, is that of a limited partnership, wherein the liability of a shareholder extends only up to the number of shares held by them.With the startup ecosystem booming across the country and more and more people looking to do something on their own, there is a need to be well-acquainted with different business registration types i.e sole proprietorship, limited liability company, and private limited company.
Advantages
Registering a company offers many benefits. A registered company increases the authenticity of your business. It helps your business:
Shield from personal liability and protects from other risks and losses
Attract more customers
Procure bank credits and good investment from reliable investors with ease
Offers liability protection to protect your company’s assets
Greater capital contribution and greater stability
Increases the potential to grow big and expand
Process
STEP 1
Documentation:
The Basic Documents of the Director and Proof of Registered Address Office are Required. We have provided for complete List of Documents in a separate section
STEP 2
Name of Company
The company should register with a new and unique name. Hence the second step is to finalise the appropriate name of the company. You may file a RUN Application for the same.
STEP 3
Drafting of MOA & AOA
The MOA being the constitution of the company and the AOA being internal rules are the most important documents that are filed along with the Company Registration Application.
STEP 4
Filing of Spice Plus Form
To incorporate the company, an application in the SPICe+ form is filed to the ROC, along with MOA, AOA and basic documents of the promoters and the registered address.
STEP 5
Incorporation Certificate:
Upon approval of the Spice Plus form by the ROC, a digital certificate of Incorporation is issued by the ROC, containing the company CIN, PAN, and TAN Number.
Benefits
How to Register?
Company registration in India benefits startups since it offers them an advantage over those who have not registered. The process of registering your company is complex and involves many compliances. However, you needn’t worry as long as you have Vakilsearch as our professionals can help you with every step of the private limited company registration process.
Step 1: Obtain DSC
Step 2: Apply for the DIN
Step 3: Application for the name availability
Step 4: Submission of MoA and AoA to register a private limited company
Step 5: Apply for the PAN and TAN of the company
Step 6: RoC issues a certificate of incorporation with a PAN and TAN
Documents Required
In India, private limited company registration cannot be done without proper identity and address proof. Listed below are the documents accepted by the MCA for the online company registration process:
Identity and Address Proof
– Scanned copy of PAN card or passport (foreign nationals & NRIs)
– Scanned copy of voter ID/passport/driving licence
– Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
– Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
Registered Office Proof
– Scanned copy of notarized rental agreement in English
– Scanned copy of no-objection certificate from the property owner
– Scanned copy of sale deed/property deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence too.
Why Bizivalue ?
Registering a company offers many benefits. A registered company makes it genuine and increases the authenticity of your business.
– Shields from personal liability and protects from other risks and losses.
– Attracts more customers
– Procures bank credits and good investment from reliable investors with ease.
– Offers liability protection to protect your company’s assets
– Greater capital contribution and greater stability
– Increases the potential to grow big and expand
– You will also get Zero Balance Current Account
Faqs
The registrar of companies (RoC) across India expect applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
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.
No, 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.
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Our Services
- Private Limited Company
- One person company
- Limited Liability Partnership
- Startup Registration
- Public Limited Registration
- NGO Registration
- Producer Company
- OSP License
- GST registration
- FSSAI registration
- Partnership firm
- Proprietarship firm
- Nidhi company
- Trademark Registration
- Copyright Registration
- Manage Your Accounts
- Private Limited Company Closure
- One Person Company Closure
- Limited Liability Partnership Company Closure
- Partnership to LLP
- Proprietorship to pvt ltd
- Pvt ltd to public limited
- Pvt ltd company to one person
- Pvt ltd roc compliance amc
- OPC roc compliance amc
- LLP roc compliance amc
- DIR3 din kc filing
- ROC return filings for pvt ltd
- ROC return filing for llp
- Increase in authorized capital
- Add a director
- Remove a director
- Office address change
- GST filling
- Professional tax registration
- TDS returns
- Pf registration
- ESI registration
- Income tax return
- Shop establishment regulation
- SSI msme registration
- Importer exporter code
- ISO Certification
Our Partners Benefit From
Expertise in Registrations & Compliance.
Earn Money & Peace of Mind while we work in the background for you.
Comparison Between Private Limited Company and Other Business Structures
| Aspect | Proprietorship | Partnership | LLP | Private Limited Company |
|---|---|---|---|---|
|
Registration |
No formal registration required |
Optional registration under the Partnership Act, 1932 |
Registered with the Ministry of Corporate Affairs under the LLP Act, 2008 |
Registered with the Ministry of Corporate Affairs under the Companies Act, 2013 |
|
Name of the Entity |
Promoter’s choice; avoid trademarked names |
Avoid trademarked names |
The name has to end with ‘Limited Liability Partnership’ (LLP). Subject to approval by the Registrar. |
The name ends with ‘Private Limited Company’. Subject to approval by the Registrar. |
|
Legal Status of Entity |
Not a separate legal entity; Promoter is personally liable |
Not a separate legal entity; Promoters are personally liable |
Separate legal entity; Partners not personally liable for LLP’s liabilities |
Separate legal entity. Directors and Shareholders not personally liable for Company’s liabilities |
|
Member(s) Liability |
Unlimited liability for the Proprietor |
Unlimited liability for the Partners |
Limited liability for Partners, up to their contribution to the LLP |
Limited liability for Shareholders, up to their share capital |
|
Minimum Number of Members |
Can have only one person as a member |
A minimum of two persons are required |
Minimum two members are required |
Two persons are required to start a PVT Limited Company |
|
Maximum Number of Members |
Can have only one person as a member |
Maximum of 20 partners |
Unlimited number of Partners |
Maximum of 200 shareholders or members |
|
Foreign Ownership |
Not allowed |
Not for foreigners |
Need RBI and FIPB approval |
Permitted under the Automatic Approval route in most sectors for foreigners investing in Private Limited Company |
|
Transferability |
Not transferable |
Not transferable |
Ownership can be transferred |
Ownership can be transferred through share transfer |
|
Existence or Survivability |
Dependent on the Proprietor’s existence |
Might dissolve due to death of a Partner |
Not dependent on the Partners’ existence; could be dissolved voluntarily or by an Order of the Company Law Board |
Not dependent on Directors or Shareholders; could be dissolved voluntarily or by Regulatory Authorities |
|
Taxation |
Taxed as an individual based on total income |
Partnership profits taxed at 30% plus surcharge and cess |
LLP profits taxed at 30% plus surcharge and cess |
Private Limited Company profits taxed at 30% plus surcharge and cess |
|
Annual Statutory Meetings |
No requirements |
Not required |
No annual statutory meeting required |
Board and General Meetings must be conducted periodically |
|
Annual Filings |
No annual report filing requirements; file Income Tax Return based on income |
No annual report filing requirements; file Income Tax Return for Partnership |
LLP must file Annual Statement of Accounts & Solvency and Annual Return; file Income Tax Return |
Private Limited Company must file Annual Accounts and Annual Return; file Income Tax Return |
