Incorporation
First question is to understand the concept of Private Limited Company. What is Private Limited Company
A private limited company is a privately held business entity held by private stakeholders. Here the liability of stakeholders is limited to only number of shares held by them.
Basic characteristics of Private Limited Company are:
- Minimum shareholders required is 2.
- Maximum shareholders required is 200.
- Liability of each member is limited to number of shares held by them. Therefore, personal assets of shareholders are not at risk.
- This is a separate legal entity and continues in perpetual succession i.e. life of company is not affected by the life of shareholders.
- Minimum paid up capital requirement is 1 Lakh. However, higher side may be prescribed by MCA from time to time.
- Minimum of 2 directors and maximum of 15 directors required.
- One of the director must be resident of India which means he/she should have stayed in India for not less than 182 days in previous calendar year.
Now what are list of documents required for Private Limited Company
- Identity Proof: PAN Card, Aadhar Card, Voter Card/Driving License/Passport, Passport size photo. (All self-attested)
- For address proof electricity bill or utility bill, rent agreement.
- NOC from landlord if on rented.
- Shareholding pattern of proposed company
- MOA
- AOA
- Digital Signature
- Director Identification Number
- Declaration by director
After all these documents are collected then file incorporation documents. All these document need to be attached including MOA and AOA including few more documents such as Spice Form, Agile Form, INC 9 Form etc.
