REGISTRATION OF PRIVATE LIMITED COMPANY – REQUIREMENTS & PROCESS
The most preferred way of doing business in India is by registering a Private Limited Company. The Companies Act, 2013 contains the provisions and rules for the registration of a company. To register a Private Limited Company the following are the basic requirements:
- Minimum two directors
- Minimum two shareholders
- Both the directors and shareholders are mandatorily required to have the Digital Signature Certificate (DSC)
- The directors and shareholders could be the same person
- The directors would be required to obtain Director Identification Number (DIN)
- Address, Identity proof & passport size photo of Directors and Shareholders
- Address proof of Registered office of the proposed company. (If owned by director then ownership proof along with utility bill and if rented then rent agreement along with rent receipts, utility bill and NOC from the owner)
- No minimum requirement of capital (earlier it was 1 Lakh)
- Six names for the proposed company in order of preference
TIMELINE FOR REGISTRATION OF A PRIVATE LIMITED COMPANY
| STEPS | TIME LINE |
| Obtaining Digital Signature Certificate (DSC) | 2 days (from the date of receipt of documents) |
| Obtaining Director Identification Number (DIN) | 1 day (from the date of receipt of documents) |
| Name Approval | 2 to 3 days (from making application to Registrar of Companies) |
| Incorporation/Registration Certificate | 3-5 days (from the date of filing of incorporation document to the Registrar of Companies) |
| PAN & TAN | Allotted along with Certificate of Incorporation of the Company |
After issue of Certificate of Incorporation from the Registrar of Companies the company can commence its business in India.