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Easy Transferability
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company. In a private limited company, the consent of other shareholders maybe required to effect share transfers.
Uninterrupted Existence
Private Limited Company has ‘perpetual succession’, meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.
Borrowing Capacity
Private Limited Companies can raise equity funds in India. Companies can also issue equity shares, preference shares, debentures and accept deposits with RBI permission. Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns.
Minimum Two Person
You need at least two promoters for a new private limited company, just like Mr. Binny Bansal and Sachin Bansal started Flipkart.
One Resident Director
One director of the company must be resident in India. A person is said to be a resident when he stays in India for at least 182 days in the FY.
Unique Name
Name of the company should be unique, and it must not be the same or similar to the name of any existing company or a trademark.
How It Works
Step wise Procedure to Start a Private Limited Company Registration
Digital Signature of Director
As the application for Company Incorporation is filed online, the process starts with the issuance of Digital Signatures of class two.
Name Approval of company
The Company name must be unique and should not be same or similar to an existing company, or a trademark.
Filing for Incorporation
One single application (spice 32) is filed for incorporation of the company. with the approval of this the Certificate is Issued.
PAN, TAN & Bank Account
The IT Department allots PAN & TAN, which is mentioned on the certificate of incorporation. Next is Bank A/c opening.
Personalized Services For Every Type of Business
We are here to deliver quality and prompt professional services on time and all the time at economical rates with an aim to be the first choice amongst the entrepreneurs.
Satisfaction Guaranteed!
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