Private Limited Company, the most popular legal structure for businesses are usually started from members among family, friends and relatives and should be chosen by anyone looking to build a flexible business. Indian start-ups and growing companies pick it because it limits the liabilities of its shareholders and enables them to offer employee stock options to attract top talent. Private Limited Companies are closely held companies where minimum number of members is two and maximum number is two hundred.
- PAN Card & Address Proof along of the proposed Directors
- Two Passport size photograph of each Directors.
- Address proof of the proposed registered office of the company, if rented then Rent agreement along with NOC from the owner shall be required.
- Utility Bill of the proposed registered office not older than 2 months.
- Step 1 – Apply for DSC & DIN of each Director
The DIN (Director Identification no. is unique identifiation no. mandatory for every director. DSC (digital signature) is generated some certifying agencies like TCS, Mudhra and are used to digitally sign the documents.
- Step 2 – Apply for reservation of name
Any name which does not resemble with the existing company name can be reserved. Hence, before applying for name approval, name research is done.
- Step 3 – Draft Memorandum & Article of Association (MOA & AOA)
The memorandum of association and Article of Association are the bibles of the company. While MOA contains the objects for which company is being incorporated and AOA contains the by-laws by which the compnay would function.
- Step 4 – Sign & file various Forms for incorporation of company
Forms for incorporation of companies, appointment of Directors and situation of registered office are to be filled with the registrar of companies of respective state.
Time required would be 5 to 10 days depending upon the name approval by the registrar of companies.