Private Limited Company is one of the exceedingly prescribed approaches to begin a business in India. This kind of company offers limited risk for its investors with specific limitations put on the possession. Almost 93 percent of the companies incorporated in India are registered as Private Limited Companies. Ministry of Corporate Affairs is the governing body in India which regulates all Private Limited Companies in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. A Private limited company is the most popular corporate entity among small, medium and large businesses in India due to various advantages. Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.
A Certificate of Incorporation, alongside PAN and TAN can be received post approval of the company enlistment process. You can formally open a current bank account with the Certificate of Incorporation and start your business activities.
How to Register a Private Limited Company?
- Step 1: Application for DSC (Digital Signature Certificate).
- Step 2: Apply for the DIN (Director Identification Number)
- Step 3: Application for the name availability.
- Step 4: Filing of the EMoa and EAOA to register private limited company
- Step 5: Apply for the PAN and TAN of the company
- Step 6: Issued certificate of incorporation by RoC with PAN and TAN
- Step 7: Opening a current bank account on company name
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