REGISTRATION BUSINESS AS PRIVATE LIMITED COMPANY

Private Limited Company is the most popular option to start a business in India by startups and businesses with higher growth aspirations. Private Limited Company is incorporated under the Companies Act, 2013, and governed by the Ministry of Corporate Affairs in India. It is a registered corporate structure that provides businesses with a separate legal identity from their owners.

Ignislegalcare can be registered with a minimum of two directors and subscribers. A person can be both a director and shareholder in a Private Limited Company.

The liability of the members of a Private Limited Company is limited to the extent of the unpaid amount of shares held by them.

FEATURE AND ADVANTAGES OF PRIVATE LIMITED COMPANY

1. SEPARATE LEGAL EXISTENCE:
2. A Private Limited Company is a separate legal identity in the eyes of the law. It means the assets and liabilities of the business are not the same as the assets and liabilities of the directors and shareholders. Both are considered different. 

2. LIMITED LIABILITY: If the company undergoes financial distress, the personal assets of members/shareholders cannot be used for paying the debts of the Company.

3. FUNDING: A Private Limited Company can raise equity share capital as well as preference share capital from persons or entities interested in becoming a shareholder. Private Limited Company can raise money easily from Banks, Financial Institutions, Angel Investors, venture capital firms, private equity firms, etc.

4. MANAGEMENT AND OWNERSHIP SEPARATION: The shareholders assign responsibility to operate and run the company without losing control in the form of voting.

MINIMUM REQUIREMENTS TO REGISTER PRIVATE LIMITED COMPANY

1. UNIQUE NAME OF COMPANY:

The proposed name of the company should be unique and should not be similar or resemble an existing company or LLP or Registered Trademark or Trademark applied for.

2. CAPITAL REQUIREMENT: There is no requirement of minimum Paid-up capital to register a Private Limited Company. Investment can be made as per the requirements of the business.

3. MINIMUM TWO PERSONS: A Private Limited Company can be registered by at least two persons, who shall act as the shareholders and Directors of the company and out of which at Least One Director must be resident in India.

4. MAIN OBJECTS OF THE COMPANY: To describe business activities of the company, the main objects of the company must be specified before the formation of the company.

DOCUMENTS REQUIRED TO REGISTER A PRIVATE LIMITED COMPANY:-

1.Photograph of All Directors and Shareholders

2.Self-attested Copy of Address Proof viz. Bank Statement/Electricity Bill/Mobile Bill/Telephone Bill, anyone

3.Self-attested Copy of Pan Card of All Directors and Shareholders

4.Rent Agreement/Ownership Documents and Utility Bill of the Registered Office of the Company

5. Self-attested copy of Adhar Card/Voter ID/DL/Passport, Any one of All Directors and Shareholders

6.E-mail ID/Mobile No/Place of Birth/Educational Qualification/Duration of Stay etc