What is a Private Limited Company?
A Private Limited Company is a business entity privately owned by shareholders, offering limited liability, a separate legal identity, and ease of raising investments. It is the most popular structure for startups and growing businesses seeking credibility and growth opportunities.
Who Should Register a Private Limited Company?
Startups and entrepreneurs seeking limited liability and investor trust
Small and medium businesses aiming for scalability
Professional service firms and family-owned businesses
Key Features & Benefits
Separate Legal Entity: Distinct from its shareholders and directors
Limited Liability: Shareholders’ liability is limited to their shareholding
Perpetual Succession: Company continues regardless of changes in ownership
Easy Fundraising: Attracts investors and venture capital
Transferability: Shares can be transferred (with restrictions)
Credibility: Recognized by banks, investors, and government agencies
Eligibility Criteria
| Requirement | Details |
|---|---|
| Minimum Directors | 2 (at least one must be a resident) |
| Minimum Shareholders | 2 (can be same as directors) |
| Maximum Shareholders | 200 |
| Minimum Capital | ₹1 lakh (no minimum paid-up capital required by law, but recommended) |
| Unique Name | Must not be identical to existing companies or trademarks |
| Registered Office | Must have a registered address in the country |
Required Documents for Private Limited Company Registration
| Document Type | Details/Description |
|---|---|
| PAN Card (Directors/Shareholders) | Self-attested copy for each Indian director/shareholder |
| Passport (Foreign Nationals) | Mandatory for foreign directors/shareholders, notarized/apostilled |
| Address Proof (Directors/Shareholders) | Aadhaar, passport, voter ID, or driver’s license (not older than 2 months) |
| Proof of Registered Office | Utility bill, rent agreement, or property document (not older than 2 months) |
| NOC from Owner | If office premises are rented/leased |
| Photographs | Passport-sized photos of all directors/shareholders |
| Digital Signature Certificate | For all proposed directors |
| Memorandum & Articles of Association (MoA & AoA) | Drafted and signed by subscribers/directors |
| Other Supporting Documents | Bank statement, board resolution (if applicable), and any additional required docs |
Step-by-Step Private Limited Company Registration Process
1. Obtain Digital Signature Certificate (DSC)
All proposed directors must obtain a Class 3 DSC for e-signing forms.
2. Apply for Director Identification Number (DIN)
DIN is required for each director and can be applied for through the SPICe+ (INC-32) form.
3. Name Reservation
Reserve a unique company name using the SPICe+ Part A (RUN service) on the MCA portal. The name must comply with MCA guidelines and be unique.
4. Prepare and File Incorporation Documents
Fill and submit SPICe+ Part B (INC-32) with MoA, AoA, and other required documents.
Attach identity/address proofs, registered office proof, and declarations.
Apply for PAN and TAN through the integrated form.
5. Certificate of Incorporation
Upon approval, the Registrar of Companies (RoC) issues the Certificate of Incorporation, along with PAN and TAN.
6. Open Bank Account
Open a current account in the company’s name using the incorporation documents.
7. Post-Incorporation Compliances
Apply for GST registration if turnover exceeds the threshold.
Register for other licenses as required (MSME, IEC, etc.).
Appoint a statutory auditor within 30 days.
File commencement of business declaration (Form INC-20A) within 180 days.
Private Limited Company Registration Compliance Checklist
| Step/Requirement | Description |
|---|---|
| DSC & DIN | Obtain for all proposed directors |
| Name Approval | Reserve unique company name via SPICe+ |
| Document Preparation | Gather all required documents and proofs |
| Incorporation Filing | File SPICe+ form with MCA and pay fees |
| Certificate of Incorporation | Obtain from RoC after approval |
| PAN & TAN Application | Auto-generated with incorporation |
| Bank Account Opening | Open current account in company’s name |
| Auditor Appointment | Appoint within 30 days of incorporation |
| Commencement of Business | File Form INC-20A within 180 days |
| Statutory Registers | Maintain as per Companies Act |
| Annual Filings | File Form AOC-4 (financials) and MGT-7 (annual return) |
| Board Meetings | Hold at least 4 board meetings per year |
| AGM | Hold Annual General Meeting by September 30 |
| Tax & GST Compliance | File ITR-6, TDS returns, GST returns as applicable |
Frequently Asked Questions (FAQs)
How long does private limited company registration take?
Typically, 7–10 working days, depending on document verification and RoC processing.
Is physical presence required for registration?
No, the entire process is online through the MCA portal.
What is the minimum capital required?
There is no minimum paid-up capital requirement, but ₹1 lakh is recommended.
Can a foreign national be a director or shareholder?
Yes, but at least one director must be a resident.
What are the post-registration compliances?
Annual filings, board meetings, auditor appointment, maintenance of statutory registers, and tax/GST compliance.
What happens if compliance is not maintained?
Non-compliance can lead to penalties, director disqualification, or company dissolution.
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