A Private Limited Company is a type of business structure in India that is privately owned and offers limited liability protection to its owners, known as shareholders. It is one of the most popular forms of business structure in India due to its flexibility, limited liability protection, and relatively simple process of incorporation.
The following steps are involved in registering a private limited company in India:
Choose a Company Name: The first step in registering a private limited company is to choose a unique name for the company. The name must be approved by the Ministry of Corporate Affairs (MCA) and must not be similar to an existing company name.
Obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN): Each of the proposed directors of the company must obtain a DSC and a DIN, which are mandatory for filing the incorporation documents electronically.
File the Incorporation Documents: The incorporation documents, including the Memorandum of Association (MOA) and the Articles of Association (AOA), must be filed with the Registrar of Companies (RoC) in the jurisdiction where the company will be located.
Obtain the Certificate of Incorporation (COI): The RoC will issue a COI once the incorporation documents have been approved and processed.
Register for Goods and Services Tax (GST): Private limited companies in India are required to register for GST if their turnover exceeds the threshold limit.
Obtain PAN and TAN: The company must obtain a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN) for tax purposes.
Register for Employee Provident Fund (EPF) and Employee State Insurance (ESI): Private limited companies in India with 20 or more employees are required to register for EPF and ESI.
It is advisable to seek the assistance of a qualified legal professional when registering a private limited company in India, as the process can be complex and involve several legal and regulatory requirements.
Documents required for filing SPICe+ (INC-32)
The SPICe+ (INC-32) form is a consolidated form that combines the requirements for incorporating a company in India, registering for Goods and Services Tax (GST), and obtaining a Director Identification Number (DIN) for the proposed directors of the company. The following documents are required to file the SPICe+ (INC-32) form:
Memorandum of Association (MOA): This document sets out the objectives and activities of the company, as well as the authorized capital and share capital structure of the company.
Articles of Association (AOA): This document sets out the internal rules and regulations of the company, including the powers and duties of the directors, the procedure for conducting meetings, and the rights and responsibilities of the shareholders.
PAN Card of the proposed directors
Address proof of the proposed directors (Aadhar card, passport, voter ID, driving license, etc.)
Proof of address of the registered office of the company (rent agreement, utility bill, etc.)
Bank Certificate for verification of bank details
Digital Signature Certificate (DSC) of the proposed directors
Proof of identity of the authorized signatory of the company who will file the SPICe+ form
Affidavit of Compliance with the Companies (Incorporation) Rules, 2014
e-Form INC-9 (Declaration of Compliance) signed by a professional such as a Company Secretary or a Chartered Accountant
e-Form DIR-12 (Appointment of First Director) for appointment of the first directors of the company
e-Form INC-22A (Active Company Tagging Identities and Verification) to confirm the registered office of the company.
It is important to ensure that all the required documents are in order and accurate to avoid any delays or issues during the incorporation process.