PRIVATE LIMITED COMPANY

A Private Limited Company is a business entity held by small group of people. It is registered for pre-defined objects and owned by a group of members called shareholders. Startups and businesses with higher growth aspiration popularly choose Private Company as suitable business structure.

CHECKLIST
As defined under the Companies Act 2013, we have to ensure the requirements of checklist

Two Directors:
A private limited company must have at least two directors and at most, there can be 15 directors. Among all the directors in the business, at least one must be a resident of India.

Unique Name:
The name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.

Minimum Capital Contribution:
There is no minimum capital amount for a company. A company should have an authorized capital of at least Rs. 1 lakh.

Registered Office:
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NOC is obtained from the landlord.

DOCUMENTS REQUIRED FOR COMPANY REGISTRATION
In India, Private Limited company registration cannot be done without proper identity and address proof. These documents will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.

Identity And Address Proof
Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
Scanned copy of Voter’s ID/Passport/Driver’s License
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])

For the foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily.
All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.

Registered Office Proof
For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of an electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/his consent to use the office as a registered office of the company should be submitted.

Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
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.