Private Limited Company is one of the most famous types of businesses in India. Private Limited Company offers advantages like limited liability, separate legal entity, easy transferability and perpetual succession. These advantages of Private Limited Company, makes it one of the most popular types of business in India. In this article we will discuss about process of Private Limited Company Registration.
Minimum two persons are required for incorporation of Private Limited Company. Private Limited Company registration can be broadly divided into four steps
First step to register a Private Limited Company is to get Director Identification Number (DIN). DIN can be obtained by submitting certified copies of PAN Card, Identity Proof and Address Proof with the Ministry of Corporate Affairs (MCA). The DIN form has to be signed digitally and for this Class II Digital Signature Certificate (DSC) for signing is required. An application in prescribed form has to be made to issuing authority with required documents to get the Class II DSC.
Get Director Identification Number (DIN)
DIN is a unique eight digit number allotted to every existing and proposed director / partner of LLP. DIN does not require any renewal or compliances. However, in case of any change in address, name etc of DIN holder, the same has to be intimated to the MCA in specified forms alongwith required documents. Generally DIN is allotted immediately on submission of documents online. However, it may be rejected or held for the want of more documents. Read our article Common causes of DIN rejection to know more about DIN rejection.
Apply for Name Approval
This is one of the most important steps in incorporation of Private Limited Company. The name should not be similar or too nearly resemble with name of existing Company or LLP. It should also not be the registered Trademark. On application of name, the Registrar of Companies will review the application and allot a name. Name application can be made with six proposed names in order of preference. The Registrar of Companies may allot any one of them or reject all. Refer to our articles How to name a Company, Private Limited Company Name Approval, Common reasons for rejection of company names to know more about name approval.
File Incorporation Documents
On name approval, documents for incorporation of company may be submitted to the Registrar of Companies in specified forms. The below mentioned documents should be attached to the incorporation forms:
Memorandum of Association
Articles of Association
Subscription page to Memorandum and Articles of Association
Affidavit by Directors
Declaration by Directors
Identity and address proof of directors etc.
On submission and verification of all the documents and payment of registration fees and stamp duty, with the Registrar of Companies, the ROC may issue certificate of incorporation to Company. The company is incorporated on the date of issuance of Certificate of Incorporation.
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