package_details

packages-images

Private Limited Company:

A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares, limits the number of shareholders to 50, and restricts shareholders from publicly trading shares.

Let's look at some of the advantages of having a private limited company:

Limited Liability

During the recent recession, which lasted from December 2007 - June 2009, many businesses experienced financial problems and permanently closed. One advantage of owning a private limited company is that the financial liability of shareholders is limited to their shares. Therefore, if a private limited company was in financial trouble and had to close, shareholders would not risk losing their personal assets. Although, perpetrating a fraud related to the private limited company would negate an owner's limited liability protection.

 Restricted Trade of Shares

The restriction placed on the sale or transfer of shares may be considered an advantage or disadvantage, depending on your outlook. It is an advantage to some shareholders because shareholders who want to sell shares cannot sell them to outside buyers. Shareholders must also agree to the sale or transfer of shares; therefore, the risk of hostile takeovers is low. The restriction placed on the sale of shares is a disadvantage because shareholders have limited options for liquidating shares.

Continued Existence

Another advantage of a private limited company is its continued existence, even after the owner dies or leaves the business. Private limited companies are incorporated. When a business incorporates, it becomes an independent legal entity, meaning it is able to sue or own assets separate from the company owner. A private limited company differs from a sole proprietorship in that the latter is owned by a single individual who is personally responsible for the company's business debts and essential to its continued existence.

Tax Breaks

Private limited companies also enjoy tax advantages. For example, their corporate taxes may be lower than those paid by other types of businesses. Financial statements for private limited companies must be filed no later than nine months after the fiscal year ends. The first accounting period begins the same day that the business is incorporated.

IDENTITY AND ADDRESS PROOF

Identity and the address proof will be needed for all the directors and the shareholders of the company to be incorporated. In case of an Indian national, PAN card is mandatory. For the foreign nationals, apostilled or notarised copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.

REGISTERED OFFICE PROOF

All companies should have a registered office in India. To prove admittance to the registered office, a recent copy of electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/ his consent to use the office as a registered office of the company should be submitted.

  • Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs) Scanned copy of Voter's ID/Passport/Driver's License
  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill Scanned passport-sized photograph Specimen signature (blank document with signature [directors only])

Note: Any one of the directors must self-attest the first three documents. In case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).

FOR THE REGISTERED OFFICE

  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned copy of Notarized Rental Agreement in English
  • Scanned copy of No-objection Certificate from property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

Minimum Requirements for Company Registration

  • Minimum 2 Shareholders
  • Minimum 2 Directors
  • Minimum 1 Lac Share Capital
  • DPIN for all Directors
  • At least one Designated partner must be an Indian Resident
  • You pay a Fixed Price for Litigation
  • No hidden costs.
  • No stress of litigation
  • Experienced and dedicated professionals assigned to your case
  • Regular case Updates

5 WORKING DAYS

One director must apply for the Digital Signature Certificate (DSC), which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details; our representatives will fill the form and submit it online.

7 WORKING DAYS

As soon as we apply for the DSC, we will ask you to pick a name for your company, and send us some scanned documents regarding it and its directors. These will be used to file SPICe i.e. INC-32 and the Memorandum of Association (MoA) and Articles of Association (AoA). The Certificate of Incorporation will be approved at the end of this process.

2 WORKING DAYS

Every company needs a registered Permanent Account Number (PAN) and Tax Account Number (TAN). We will make the application online ourselves, but you will need to courier hard copies of the required documents yourself. The PAN and TAN will be couriered to your registered office address in 21 working days.

 

• Pay Online
• Our Customer Support executive will call you for details of your query and forward it to the advocate
• You will be connected with the lawyer for a 15-minute consultation.
• A first draft will be sent to you for review and changes
• You will be connected with the lawyer for again for a time span of 15 minutes to discuss the required changes.
• No further consultation with the advocate forms a part of this package.

Other Similar Packages

  • Packages

    A legal notice is a notification to the receiver of an existing dispute between him and the sender. We commonly hear people tell each other that, "..

    3.6

    2499.00/-

    1999.00/-

  • Packages

    In the current era, Cheques are used in almost all transactions, be it the guarantee of loans, Landlord tenant agreements, tenders, payment of sala..

    4

    10999.00/-

    9999.00/-

  • Packages

    Investing in a group housing project is risk most people are forced to take, essentially in a standard group housing project, a developer generally..

    3.5

    16999.00/-

    14999.00/-

  • Packages

    Trademark is defined as a unique symbol, mark, or a word legally registered by a manufacturer or a company to distinguish its products from others...

    4

    2199.00/-

    1999.00/-

  • Packages

    Consumers are the building blocks of every economy. For an economy to thrive, consumer satisfaction is very important. It is consumers who help a b..

    4

    10999.00/-

    9999.00/-

  • Packages

    Marriages are made in heaven, but divorce can make this heaven into hell. Separation is an extremely difficult aspect of a marriage, if both the pa..

    3.5

    22999.00/-

    21999.00/-

  • Packages

    Trade License is a certificate which grants permission to carry a particular trade or business for which it is issued. In the last forty years, tra..

    4

    5999.00/-

    3999.00/-

  • Packages

    Trade License is a certificate which grants permission to carry a particular trade or business for which it is issued. This helps in ensuring that ..

    4.5

    9999.00/-

    7999.00/-

Ratings & Reviews

Lawzgrid-icon

100% SECURE PAYMENT

All major credit & debit cards accepted

Lawzgrid-icon

TRUSTPAY

100% Payment Protection and Best Price Guarantee

Lawzgrid-icon

HAVE A QUESTION?

Live chat with our local experts 24/7 or browse our FAQs

LawzGrid-solutions-icon