A Guide to Set Up Private Limited Company Registration in India
India is among the most preferred nation to start a new company as the country is developing at a swift pace. Also, India has a diverse culture which acts as a catalyst for people in business to start any business in the country. It is the reason that new companies are flourishing at high speed and getting constant recognition on the global level. For business owners who are having high aspirations from their upcoming business venture in India, they can quickly get their business registered through a straightforward procedure. If you are planning to start your private investment, then it is a smart choice to go for the Private Limited Company Registration procedures. It is the right time for you to register your business with 3E Accounting to guarantee a successful launch of your entrepreneur career.
Why Should You Choose Private Limited Company Registration in India?
India is the second most populated nation in the whole world. It gives full exposure to the new company to attract a lot of customers to fulfil their financial goals by putting in the right efforts. The government of India is continuously reforming their rules and regulations to help the entrepreneurs to get maximum revenue without compromising the quality of the product and services. As a businessman, you will find that there are numerous options to choose your preferred infrastructure to establish your company. The choices include warehouse, factories, complexes, trading, export and imports and many more options. There are few do’s and dont’s to start the process of private limited company registration in India. In this way, you can be sure that your company will get saved from immediate risk and loss due to the changing economic market of the country.
Benefits of Private Limited Company Registration in India
- The region is full of opportunities for global economic trades. India has the potential to provide investors with a good return. Thus, they can enjoy a luxurious lifestyle in their preferred location.
- Private Limited Company Registration in India has some extra privileges. There is no problem to get enthusiastic and competent workers, artisans, and helpers.
- This developing nation is perfect for almost all types of business trades. It helps to explore the knowledge and skills of your own. It is one of the significant benefits of starting a new venture in the country.
- Investors tend to prefer their business formation in this nation. It is because the operating setup is competitive.
Requirements for Private Limited Company Registration in India
The regulations for the Private Limited Company Registration in India are as per the Company Act of 2013. The MCA (Ministry of Corporate Affairs) authorizes the entire procedure of the registration. The structure of the private limited company is of limited liability type. The company shareholders will share the profit or loss that occurred during the business activities. The registration procedure is quite simple, but it contains some detailed steps.
The paper works required for registration is broadly categorized concerning the shareholders and enrolled company.
For the Shareholders
The Indian government allows the company shareholders to either be an Indian or a foreigner.
The list of documents needed for an Indian shareholder:
- Self-attested copy of PAN card: It’s a mandatory ID proof of the shareholder. It is an obligatory paper that will get submitted during the initial stage of registration.
- Self-attested current address proof: You can use your driver’s license, voter’s ID, or passport as your current address proof documents. However, you need to ensure that the name in the PAN card and your address proof documents are the same; otherwise, it will create hindrance during the entire procedure.
- Self-attested residence proof documents: You can use your recent bills (gas, electricity, and phone) or bank statements to show your residence proof. These bills cannot be more than three months old.
- Carry one to three passport size photograph along with you.
The list of documents needed for a foreign shareholder:
- Passport: This is a very crucial document for the Private Limited Company Registration in India. It acts as proof of the foreign shareholder’s nationality. Also, the foreign shareholder’s full name, as well as DOB, must get stamped and attested by the international country governing body. Every detail needs to be in English.
- Address proof documents: These papers include residence certificate, driver’s license, bank statement, or any other form of the country approved address proof.
- Residence proof: You can submit your regular bills such as phone, electricity, gas, or your bank statements. However, these documents need government stamping and notarizing.
For Registered Company
You need to submit the Certificate of Incorporation form and mention the name of your new venture. Along with this form, you also need to provide the company address proof for the registration. Property tax bills, the electric bills, phone bills, or any other bills can get submitted to the registration office. You need to ensure that these bills must contain the complete address of the company property. If the company is on a rented property, then you must provide the NOC from the landlord along with the rent agreement.
Finding Assistance with the Private Limited Company Registration
The 3E Accounting firm will help you with the entire Private Limited Company Registration in India procedure. We have a team of dedicated and experienced staff who are looking forward to helping you to get your company registered through some easy steps. Get in touch with us to get assistance for business registration.