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According to the 2013 Act, a private corporation must have a minimum of two members and a maximum of 200
members to be incorporated. The shareholders of any private limited business are not required to liquidate their
assets in the event of financial risk, meaning they should have limited liability. Private limited companies have
been around forever. A private limited company continues to operate even if one or more of its members pass
away or declare bankruptcy.
Two directors are required for online business formation, and a firm may have up to 15 directors in total. The
prospective director must be at least 18 years old. Any private limited company in India may elect a foreign
national as a director. For the registration of a private limited company, there is no minimum paid-up capital
requirement. Every private limited company must follow its name with “Pvt.Ltd.”
The private limited company has no connection to the public and is not permitted to demand any security from
any public or public sector. Individuals are not liable for the transfer of shares in a private limited company,
protecting them from takeover attempts by large corporations.
Limited Liability
Because a private limited company is a distinct legal entity, each member’s liability is limited to their share only.
A private limited corporation is a distinct legal person with full legal standing and access to the courts. It takes
the place of a fake person and has the authority to purchase real estate.
Credit Availability
In addition to its stockholders, a private limited company may also raise money from debenture holders. A
Registered Private Limited Company is regarded as a corporate entity that draws various venture capitalists and
angel investors, assisting them in expanding and raising money for the development of their business and
company.
Perpetual Existence
A private corporation exists forever. Private limited corporations are seen as distinct legal entities that exist
independently of their owners. This means that they cannot be dissolved or come to an end as a result of any of
their members, directors, or shareholders passing away, retiring, or going insane.
An officially registered private limited corporation is seen as being more reliable than one that is not. The
Ministry of Corporate Affairs website makes it simple to find information on registering a private limited
business. They are preferred by investors, suppliers, and customers over other company forms. As a result, it
raises the firm’s brand value among consumers, other investors, and vendors.
In a private corporation, it is quite simple to issue additional shares and transfer equity to new shareholders.
Before starting a Private Limited Company in India, it is important to be aware of the following requirements:
The name of the private limited business must be distinctive and distinct from that of any other registered
companies or trademarks.
A private limited corporation must have at least two directors to operate.
Additionally, it is important to remember that the private limited company needs at least two shareholders.
A digital signature certificate that will be needed to register a private limited company should be owned by
each director and member.
For the creation of a private limited corporation, there is no minimum capital needed.
Making sure your company name is distinctive can help you register your business quickly. The procedure
of registering a corporation online is pretty straightforward.
For the registration of a private limited business,
According to section 3 of the 2013 Act, two or more people may form a private company by providing their
names and following the registration procedure guidelines outlined by the said Act.
The registrar must receive the forms and data listed below:
All of the subscribers to the memorandum have properly signed both the memorandum and the articles in
the way specified.
An affirmation that all registration requirements specified by the Act have been met by the advocate,
chartered accountant, cost accountant, or company secretary engaged in the incorporation of the company,
as well as by the individuals named in the company’s articles as directors, managers, or secretaries.
A declaration from each subscriber to the MOA and the first director named in the AOA of the company
stating that they have never been convicted of fraud or breaching the company’s agreements and that they
have never been convicted of any offenses connected to the formation, management, or promotion of the
company.
Page Contents
AOA
MOA
Outside Country body corporate’s incorporation certificate
a decision made by the international Company
a statement of advice made by the advertising company
The interest of the directors from other entities
Nominee’s assent
Identity proof and residential proof
The Declaration of the unregistered companies
Digital Signature Certificate
Declaration
The subscribers’ and directors’ declarations in form “INC-9” must be automatically created in PDF format and
delivered online. A professional recommendation, such as one from a company secretary, chartered accountant,
or cost accountant, must also be submitted by the applicant.
Documents Required for Company Registration
What are the Documents That Can Be Used As Address Proof?
Bank Statement.
Electricity Bill
Mobile Bill
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According to the SPICe+ form, three central government agencies and departments—the Ministry of Labour &
Department of Revenue, Ministry of Finance, and Ministry of Corporate Affairs—dedicate 10 services.
According to reports, the new SPICe Plus form saves time and has been used since February 23 for all new
firms. The forms AGILE-PRO, SPICe+AoA, and SPICe+MoA must also be submitted with SPICe+.
Along with the firm’s incorporation form, the MOA and AOA are submitted to the registrar of the company.
These are essential, and they alone form the basis of the business.
The MOA is the cornerstone of the company’s structure and provides the specifics of its constitution. The
purpose and boundaries of the corporation are outlined in what is known as the charter of the firm. Members of
the company must subscribe to the MOA to sign the MOA at the time of the company’s incorporation as
attestation or approval of its content.
Contents of MOA:
Name Clause: The name of the business must be included, with “Pvt.Ltd.” or “ltd.” for a private
corporation. if the firm is publicly traded. The name must be original and distinct from that of any other
business. It shouldn’t imply any association with any municipal or governmental entity.
Condition: The jurisdiction in which the company’s registered office is located. The company must
establish its registered office within 15 days of incorporation, and each office must display the address of
the company.
It should specify the company’s purpose and cannot be altered in the future. The Company shall not
behave in a manner inconsistent with this Agreement or the Agreement shall be deemed to be ultra-virus
and invalid ab-initio.
Liability Clause: Whether it is limited by guarantee, shares, or unrestricted, the liability of the members
of the company should be expressed in it. A member’s responsibility cannot be increased by the firm
without his or her express approval.
Capital Clause: The share capital with which the company will be registered should be stated. It will
specify the maximum number of shares.
Clause of Subscription: It contains all subscriber information. These subscribers are required to purchase
at least one share, and each will indicate how many shares they want to purchase.
The administration of the firm and how its operations are carried out will be governed and controlled by the
bylaws, rules, and regulations. AOA is controlled by the Company’s MOA and is a component of it.
It is a supporting document that contains information on the management, internal operations, rights, and duties
of the firm. The corporations have the authority to modify their AOA, but such modification requires a special
decision.
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little liability
Legal documentation, particularly written agreements
Treatment of taxes
Industry Flexibility, Personal Liability, Complexity, and Control
Regulations, permissions, and licenses
There are benefits to each business form, but one must pick wisely. Depending on the local regulations and the
purpose of the organization, one should select the appropriate business structure. One can alter their business
structure over time, moving from a sole proprietorship to a limited liability corporation, for example.
A start-up should first focus on its objective, financial situation and needs, risk, and capacity for company
growth. Depending on where you set up your business, there may be different requirements since each location
has a different set of rules for various business structures.
MUDS Assistance
We Can Assist You With Private Limited Company Registration in India In The Following Ways: