A private limited company is treated as a business entity dealt completely by private ownership . In this type of company registration, the provisions of company Act 2013 applies. For a private limited company registration, it is mandatory to have four roles defined sorted namely 2 Directors and 2 Shareholders. It is not necessary to have four different people to be part of the pvt ltd company registration, a person can act as both the shareholder and one of the directors. The primary reason to register a private company is the status of separate legal entity i.e. the incorporation of company would be of limited liability company and the shareholders are only accountable for the unpaid amount held by them and. The overall procedure of company incorporation is smoother and effective as the costs are considerably reasonable in nature.
Private Limited company Registration is the goto method of company formation for people who are looking into the startup registration route as it is very easy to get the seed funding from the angel investors as all the basics are legally established. The procedures are minimal with regards to documents for setting up private company in India and are ready off the bat to get the investment from ventures hence, many people prefer registering a private business.
Establishing a business as private limited company has its own set of advantage that other methods of the online company registration like firm registration, Limited Liability Partnership (LLP) registration, Public Limited Registration or Nidhi company Registration, as going with private company registration provides you with out of the box funding compatibility. If the company is going too venture offshore and they are awaiting investment from the same then private limited is the way to go.
At Unilex Consultants we provide you a hassle free consultation on business registration and guide you on the procedure of how to register a company which would be dealt by our professionals within a time frame of 10 working days and is subjective to governmental processing time. Our team takes care of the documents required for private company registration and aids in provide you the realistic estimation of cost.
In a private limited company registration, there must be a minimum of 2 people involved who would be share the roles of both shareholders & directors and to a maximum of 200 members.
Legal protection and a limited liability to the shareholders are the main reason why business registration seek online company registration route.
Private Limited companies provide the best form of business registration as it is having the legal protection as well as easy to manage.
The initial capital limits the shareholders with the company in terms of theoretical value of shares and any paid in return to the set company.
Unlike normal Partnership firms, LLP firms, company registration more recognition as they are regulated in company point of view by law.
pvt ltd company registration would exist in succession fashion as the governmental body treats it as a separate entity in terms of law.
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|Sl. No.||Particulars||Private Limited||One Person||LLP|
|1||Eligibility||Any individual may form a PLC.||Only a natural person who is an Indian citizen and resident in India. shall be eligible to incorporate an OPC.||Any individual and body corporate may be a partner in LLP.|
|2||Taxation||Taxed at 30% plus surcharge and cess as applicable.||Taxed at 30% plus surcharge and cess as applicable.||Taxed at 30% plus surcharge and cess as applicable.|
|3||Closure/Dissolution/ Winding ups||Can be initiated- Voluntarily, or By the Tribunal||Can be initiated- Voluntarily, or By the Tribunal||Can be initiated- Voluntarily by the partners or; By the Tribunal|
|4||Existence or Survivability||PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities.||Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities.||LLP can continue its existence irrespective of changes in partners.|
|6||Statutory Audit||Compulsory||Compulsory||If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs|
|7||Minimum Requirement||Members-2 Directors-2||Member – 1 Director – 1 Nominee of Sole Member – 1||Designated Partners – 2|
|8||Fund Raising Options||High||Low||Low|
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