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Private Limited Company
A private company is a company which is owned by non-governmental organisations or a relatively small number of shareholders or members of a company.
Types of Private Limited Company
- Company Limited by Shares: Members’ liability in these companies is capped at the nominal amount per share as specified in the Memorandum of Association..
- Company Limited by Guarantee: The amount of liability assumed by each member in the Memorandum of Association is the maximum liability for members of a private limited company limited by guarantee.
- Unlimited Companies : Unlimited companied are business entities that do not impose limitations on the liability of their members. All of the company’s obligations and liabilities are covered by each member’s liability. Therefore, in the event of a winding up, an unlimited company’s creditors have the authority to force the company’s debt and liabilities upon shareholders.
Registration Process
- Name approval for the company by filing INC 1 on MCA portal
- Digital Signature application for the directors and shareholders
- Preparation of MOA, AOA and other documents
- Filing of incorporation form with the MCA
- Opening bank account
- Filing commencement certificate in Form INC 20A
Documents needed for Registration
- Pan and Aadhar of directors and shareholders
- Bank statement/utility bill of the directors having their name and address on it
- Address proof for registered office address. It can be an electricity bill or municipal tax receipt
What are the steps to be followed after Registration
- Opening of Bank account
- Register for GST if applicable
- Appointment of Auditor
- File commencement certificate in Form INC 20A
- Commencement of business
How CoralMetrix Facilitates Your Company Incorporation:
- Consultation and Business Needs Assement: Start with a thorough consultation. Our professionals evaluate your company objectives and help you navigate the complexities of incorporating a private limited company.
- Business Structure Recomendation: Take advantage of our specially crafted advice. Long-term success is ensured by CoralMetrix, which offers insights into the best business structure for your private limited company.
- Documentation Management: Entrust the paperwork to us. CoralMetrix minimizes your administrative burden during the company incorporation procedure by effectively managing the required papers.
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Other Options to start a company
Limited liability partnership
A Limited Liability Partnership (LLP) is a form of business enterprise in which the partners are not personally liable for the debts of the partnership.
One person company
One-person Company has all the features of a Private limited company but requires only 1 shareholder.
Partnership Firm
An organization founded by two or more individuals who jointly agree to split earnings and losses according to a predefined ratio is referred to as a partnership firm.
The Indian Partnership Registration Act of 1932 is the main statute that governs partnership registration in India.
Start Your Business Journey with CoralMetrix
Ready to turn your business dreams into reality? Consult with CoralMetrix for expert private limited company incorporation services that set the foundation for your entrepreneurial success.