5. Memorandum of Association (MOA)
The MOA is a key document that includes:
- Company name (must be unique)
- Registered office address
- Main business activities
- Members’ liability (limited or unlimited)
- Company’s capital structure
Purpose: It defines the company’s objectives, powers, and scope, and is legally binding.
6. Articles of Association (AOA)
The AOA details the company’s internal rules, covering:
- Share capital and issuance
- Shareholder rights and voting
- Board of directors’ roles and powers
- Procedures for meetings
Purpose: It governs the company’s day-to-day operations and decision making.
7. Digital Signature Certificate (DSC)
All directors need a DSC, a secure digital key that they use to sign documents online.
Purpose: It ensures online documents are authentic and secure when submitted to authorities.
8. Director Identification Number (DIN)
Each director must have a unique DIN, applied for online through the Ministry of Corporate Affairs (MCA).
Purpose: This uniquely identifies directors and avoids confusion with similar names.
9. Company Name Approval Application
You must apply to reserve your company name with the MCA:
- The name must be unique and follow MCA guidelines.
- You can propose two names; if the first isn’t available, the second is considered.
Purpose: This ensures your company name is distinct and legally acceptable.
10. Incorporation Form (SPICe+ in India)
The SPICe+ form is a comprehensive online form for company registration, covering:
- Company name
- Director details
- Registered office address
- Share capital and business activities
- Digital signatures
Purpose: This is the main form used to officially register your company with the MCA.
Additional Requirements
- Authorized Capital: Decide the total value of shares your company can issue. This can start as low as INR 1,000 in India.
- Company Bank Account: After registration, open a corporate bank account using your incorporation documents.
- Tax Registration:
- Register for GST if your company will sell goods or services.
- Obtain PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) for tax purposes.
What are the Benefits of Private Limited Company Registration?
Registering a Private Limited Company comes with several advantages, especially for small and growing businesses. Here are some key benefits:
- Limited Liability Protection: Directors and shareholders enjoy protection for their personal assets. If the company incurs a loss, they are only liable up to the amount they invested.
- Separate Legal Identity: A Private Limited Company operates as a separate legal entity from its owners. It owns property, enters contracts, and sues or gets sued in its own name.
- Easy Fundraising: It’s easier to attract investors, venture capital, or loans, as this structure is widely trusted by banks and financial institutions.
- Business Credibility: A registered company looks more professional and reliable to clients, customers, and suppliers, which helps build trust and long-term relationships.
- Perpetual Existence: The company continues to exist even if directors or shareholders change, retire, or pass away. It ensures long-term stability.
- Easy Share Transfer: The company can easily transfer shares (with some restrictions), making it easier for founders or investors to exit or bring in new partners.
How to Register a Private Limited Company?
Registering a Private Limited Company in India is now an online process handled by the Ministry of Corporate Affairs (MCA). Here’s a step-by-step guide to help you understand how it works:
Step 1: Get Digital Signature Certificates (DSC)
Every proposed director and shareholder must have a valid DSC to sign documents digitally. You can get this from government-approved agencies.
Step 2: Apply for Director Identification Number (DIN)
Next, apply for a DIN for all the directors. This can be done along with the SPICe+ form during registration.
Step 3: Name Approval with RUN or SPICe+ Form
Choose a unique name for your company and apply for name approval through the RUN (Reserve Unique Name) service or directly through the SPICe+ form.
Step 4: Prepare Incorporation Documents
Gather all required documents, including identity and address proof of directors, registered office proof, MOA, AOA, and declarations.
Step 5: File the SPICe+ Form Online
Submit the SPICe+ form (INC-32) along with MOA (INC-33), AOA (INC-34), AGILE-PRO-S, and other supporting documents to the MCA portal.
Step 6: Get Certificate of Incorporation (COI)
Once approved by the Registrar of Companies (ROC), you’ll receive the Certificate of Incorporation. This confirms your company is officially registered.
Step 7: Apply for PAN, TAN, and Bank Account
After incorporation, the PAN and TAN are generated automatically. You can now open a company bank account using the COI and PAN.
Conclusion
To sum up, having all the documents required for Pvt Ltd company registration ready is very important when starting your business. These papers prove who you are, where your company is based, and what your business will do. If you collect and organize these documents early, the registration process will be much easier and faster. Make sure to check the exact requirements for your area to avoid any problems. This will help your private limited company get off to a great start.
Suggested Read :
Statutory Audit For Pvt Ltd Company
Enterprises and Pvt Ltd Companies
ROC Compliance Form For Pvt Ltd Company
Employee Structure of a Pvt Ltd Company
pls tell me procedure of PVT LTD Firm registration & what document to be required .
Hi Rohan Kumar,
Thank you for your inquiry!
The team will get in touch with you soon. Meanwhile, you can get in touch with Ebizfiling on +919643203209 / info@ebizfiling.com
Is the utility bill should be in the name of the new company?