Private Limited Company Registration in Chennai

The incorporation of a private limited company is the best method of registration of company. We can assist you in registering your Pvt Limited Company Registration. Do you think that registering a company registration is difficult? No, the process of registering an Pvt Ltd company is very simple to do and Private Limited company registration services are provided by experts of Sri Genuine tax consultancy Now. Numerous Business Owners have already registered with us.

Private Limited Company is the most popular and well-known type of legal entity that corporations can legally operate in India. Registration of private limited companies is controlled through the Company Act, 2013. To register a Pvt Limited company, at least two directors and two shareholders are required. Registration of the company as a Private Limited is very easy by using Sri Genuine tax service - Chennai's best trustworthy Service for Company Registration. It is an official corporate structure that is registered that is required for the establishment of the private limited business. A Private Limited Company is an unassuming business that is run privately. It is among the highly advised businesses in India especially for those who are starting out. Private limited company registration in India is controlled through The Companies Act 2013.

In accordance with the Companies Act, 2013, two shareholders minimum is required to start an entity that is private, and the maximum number of shareholders is 200. If a private limited firm is exposed to financial risk members' personal belongings of shareholders or shareholders aren't susceptible to sale, i.e., they must be subject to a limited liability.

A minimum of two directors, as well as a minimum of fifteen directors to be required for registration of a company online in India. The proposed director should be aged 18 or over aged 18. The director proposed by a private limited company located in India may also be a national of a foreign country. There is no minimum capital investment that must be paid up is required to register for private limited companies. The most important thing is that each private limited company has to have the suffix "pvt.ltd." in their name after the company's name.

Private limited companies are an ever-lasting business since it is able to continue its existence in the event of death, bankruptcy or insolvency of its members.

The private limited company has no connection with the public. They are prohibited from requesting any form of validatory public information or one of the government sectors. The public is not entitled to transfer shares to private limited companies, since it shields the takeovers of private limited companies from larger companies.

Documents Required for Registration of Private Limited Company in India:

• PAN Card of Directors and shareholders. Valid passports are required for any foreign national.
• Identity proof of Directors and Shareholders like Aadhar card, Voter ID, Passport and Driving License.
• Address proof of Directors and Shareholders like the most up-to-date Telephone Bill / Electricity Bill or Bank Statement of Account.
• The most recent Passport size photo of Directors and Shareholders.
• Business Address Proofs like the most recent Electricity Bill / Telephone Bill of the registered office address
• No Objection Certificate or NOC available from owner(s) of the registered office.
• Rent Agreements are required when the office that is registered with the government is a rental property.

Privileges of Registering Private Limited Company in India: Private limited companies are an entity that is privately owned and is the preferred choice of many entrepreneurs. Private limited companies established in India could have up to 50 shareholders, and restrict the responsibility of the owner to their shares. It also prohibits them from trading shares publicly.

Limited Liability:

If the business faces unnoticed financial problems and are at the brink of closing, the owners of the company don't have the chance of losing their wealth. Only the capital committed when the business was founded is lost, and director's assets are secure.

Access to financing:

Private limited companies are able to allow equity funding since there is a distinction between directors and shareholders. Private equity and venture capitalist’s funds are more likely to make investments in form of structure.

Capacity for borrowing:

Private limited businesses in India have the benefit of borrowing more money than LLPs since there are more options available for borrowing. Banks can assist with financial assistance to private limited firms more than OPCs and LLPs because debenture issues and convertible debentures are readily available. The banks and financial institutions accept private limited companies more than partnerships.

More credibility:

Private limited companies are required to provide a large number of details about its operation, structure as well as financials to the Registrar of businesses. This information will end up being made public. So, the lenders, vendors and employees have access to details that are relevant to the business, like an authorized capital figure, the name of directors the registered office address, etc. This makes businesses more trustworthy than other entities who do not provide this information.

Easy exit:

Privately-owned companies operating in India are able to be transferred or sold whether in total or part to individuals or organizations without disruption to the existing business.

International expansion:

If the company is working on a product on a global scale and is aiming to expand its operations throughout the world It is essential to obtain the necessary investments as well as the type of collaboration with foreign institutions. One of the benefits of private limited corporations that are based in India is that they operate 100 percent of them are automatically created that means there is no need for any approval from government officials for foreign firms to invest in India. Partnerships, LLPs need acceptance from the government.

Multiple opportunities are available:

Entrepreneurs who are successful are constantly looking for opportunities wherever they're feasible. Private limited companies can take advantage of taking advantage of opportunities when the business expands in time, whereas sole proprietorships and partnerships are not able to take advantage of this since they are tied.

Better governance:

Since private limited companies are subject to the Companies Act 2013 and are required to adhere to all rigorous procedures, regulations, and disclosures and conform to all legal requirements and regulations. They are also more efficient in the process of creating value. A private limited company has numerous advantages over other organizations It is best to have your registration done by professionals to avoid differences.

Following the above-mentioned procedure and the required documents, you'll be able start your private limited business. To ensure a smooth and easy procedure, select the top tax expert who is located in Chennai and is willing to work to help you grow your business.

Important Checklist to Remember Before Going for Registration of Private Limited Company in India

According to the Company Act, 2013 any business that wants to register in India must fulfil the following requirements.

• Two Directors
  For the establishment of a private limited business, at the very least, two directors are required and, at a minimum, there could be fifteen directors. Most importantly, at least one director must reside in India.
• Unique Name
  Choose a unique name for your business. The name you propose must not be identical to any of the businesses or trademarks already used in India.
• Minimum Capital Contribution There is no need to worry about funding requirements since it is not a minimum needed to begin a business. Private limited companies must have a share capital authorized of at minimum one lakh. 1 lakh.
• Registered Office
  Even a space that is rented or an office could be registered as the office of a business There is no requirement to set up a commercial office. All you have to do is possess an NOC letter, which you can get from the owner or landlord.