What is Private Limited Company Registration ?
Private Limited Company Registration is the process of legally establishing a private limited company (Pvt Ltd) under the Companies Act of a country. A private limited company is a type of business entity that limits the liability of its owners (shareholders) to their share capital. It restricts the transferability of shares and has a maximum limit on the number of shareholders, making it suitable for small to medium-sized businesses.
Key Features of Private Limited Company
Limited Liability
Restricted Ownership
Separate Legal Entity
Management Structure
Financial Reporting:
Privacy:
Requirements for PLC Registration
Start Small, Dream Big
There is usually a minimum share capital requirement, which varies by jurisdiction.
The company must have a registered office address where official communications can be sent.
The proposed name of the company must be unique and comply with legal naming conventions.
Documents
Pave The Way of Legal Pprotection
Identity Proof
Aadhar card, passport, voter ID, or driver's license of all directors and shareholders.
Memorandum of Association (MoA)
A legal document that outlines the company's objectives, structure, and powers.
Address Proof
Utility bill, rental agreement, or property tax receipt for the registered office.
Articles of Association (AoA)
A document that specifies the regulations for the company's internal management.
Digital Signature
Digital signatures of the directors for online filing of documents.
NOC from Property Owner
A No Objection Certificate (NOC) if the registered office is situated in a rented property.
Advantages
The Way of Sustainable Growth and Resilence
Disadvantages
Company Carries Risks
Regulatory Compliance
Private limited companies are subject to stricter regulatory compliance and reporting requirements.
Limited Ownership Transfer
The transfer of shares is restricted, which may limit the ability to bring in new investors.
Higher Costs
The costs associated with registration, compliance, and maintenance can be higher compared to sole proprietorships or partnerships.
Public Disclosure
Certain information about the company, including financial statements, must be disclosed to the public, reducing privacy.
Limited Number of Shareholders
The maximum limit of 200 shareholders may restrict growth potential for larger businesses.
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