Start your Private Limited Co.

Private Limited Company is the most common and famous form of business entity because of the various advantages attached to it. Start your own Private Limited Company with Mybizaid from Rs. 18,000 (Paid up capital upto Rs. 1,00,000/- and 2 directors).

₹18000

(2 Directors and Authorized Share Capital of Rs.1,00,000)

Limited Liability Partnership

Understanding PLC

A Private Limited Company is a company having limited liability of its members. It may be limited by shares or limited by guarantee. In a  Private Limited Company the minimum number of members is two and the maximum is two hundred members. Further, it restricts the right of transferability of shares to other shareholders.

Statue governing Private Limited

A Private Limited Company is a separate legal entity having perpetual succession. There is a separation of ownership and management. It is formed under Companies Act, 2013 and rules made thereunder. Any company is registered with the Registrar of Companies.

For Start-ups

For start-ups envisaging a moderate capital base in the form of a closely held company, generally opt for a private limited company. Under the existing provisions of Companies Act, 2013, there is no minimum capital required to incorporate a private limited company. So, even with a thin capital base, a start-up can incorporate a company.

Advantages of Private Limited Company

Separate Legal Entity

A company is a legal entity and a juristic person established under the Act. Therefore a company form of organization has wide legal capacity and can own property and also incur debts

Limited Liability

The liability of shareholders is limited to the amount contributed towards the shares. Therefore, if a private limited company was in financial trouble and had to wind-up, shareholders would not risk losing their personal assets.

Continuity

A Company has a perpetual succession and the existence is not dependent on the owners of the company.

Borrowing Capacity

A Company enjoys better avenues for borrowing of funds. It can issue debentures, secured as well as unsecured and can also accept deposits from the public, etc. Even banking and financial institutions prefer to render large financial assistance to a company rather than partnership firms or proprietary concerns.

Owning Property

A Company being a juristic person, can acquire, own, enjoy and alienate property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern.

Eligibility under Government start-up Plan

A private limited company is one of the eligible entities that can take benefits of the start-up plan launched by the government.

Packages

BASIC

₹18000

(2 Directors and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN,

Share Certificates, Company Kit

STANDARD

₹20000

(2 Directors and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN,

Share Certificates, Company Kit

TDS Filing for First Year

PREMIUM

₹25000

(2 Directors and Authorized Share Capital of Rs.1,00,000)

DSC, DIN, Name Approval,

Incorporation Fee, PAN, TAN,

Share Certificates, Company Kit

First Year ROC Filling

First Year Income Tax Retrun Filing of Company

TDS Filing for First Year

Private Limited Incorporation Process

Obtaining DSC and DIN

Digital Signature Certificate (DSC) and Director Identification Number (DIN) are required for the proposed Directors of the Private Limited Company. DIN and DSC can be obtained for the proposed Director within 2 days.

Name Approval

A minimum of one and a maximum of six proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, Name Approval can be obtained in 5 working days.

Private Limited Incorporation

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days. OPC can be incorporated in 2-3 weeks subject to MCA processing time.

Apply for PAN and licenses

After the incorporation of the Private Limited apply for the PAN of the Private Limited and respective licenses as per the business. Also, open a current bank account in the name of the Private Limited Company.

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