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Registration Requirements for Private Limited

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In India, the government are trying their best for simplifying the setup and conducting the business.

In the crucial time of setup of business, one needs to take many decisions for their business. But among all others, the most crucial and significant decision is to choose the constitution.

Types of constitution for the business in India are

  • Sole Proprietor Concern                               Limited Liability Partnership
  • Private Limited or Limited company          Partnership Firm

In this article, we are addressing the requirements for registration of Private Limited Company.

Legal requirements for registering Private Limited company is that at least two directors are required and one of them must be Indian Resident.

Steps mentioned for Private Limited Registration

Step 1

Acquire Digital Signature Certificate for the promoter who are proposed shareholders of the company.

Step 2   Application for DIN (Director Identification Number)

Any person (not having DIN) proposed to become a first director in a new company shall have to make an application through e-Form SPICe. The applicant is required to attach the proof of Identity and address along with the application. DIN would be allocated to User only after approval of the form.

Documents for DIN Application

Attach the photograph and scanned copy of supporting documents. i.e. proof of identity, and proof of residence as per the guidelines.
Physical documents are not required to be submitted at DIN cell.

Step 3 Application for Name Reservation

Application is to be made for reserving name in e-Form INC – 1 by making payment of requisite fees. You may provide maximum 6 names in preferential order along with the significance for proposed name(s).

The proposed name should not be similar or identical to any company/LLP already registered. Also Name should not prohibited to use.

The name approved will be reserved for the next 60 days from the approval date.

Step 4 Drafting MOA and AOA

MOA stands for Memorandum of Association and AOA stands for Articles for Association are to be drafted carefully with the professional advice in which the objects of the company, its powers, responsibilities, operations are to be incorporated.

Step 5  Application for Incorporating the Company

Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.

Documents required for Incorporation

Utility Bill and NOC from the owner for the Registered Office address of the Company (Utility bill must not be older than 2 months)

Rental agreement, if property is rented

Consent to act as a Director in Form DIR-2

Affidavit and declaration in the Form INC- 9,by the subscribers and promoters

Self-attested Identity proof of the first subscribers and promoters. 

Once verification is done by the Department for the documents and other compliances for registration, Incorporation Certificate will be issued by the MCA along with PAN & TAN.

Before commencement of business, Private company must file a declaration filed by a director within a period of one hundred and eighty days of the date of incorporation of the company in FORM INC- 20A and every subscriber must have paid agreed value before filing the same.

Also, Form-22 must be filed for verification of Registered Office.