Establish a private limited company

How do I establish a private limited company?

1. Minimum Number of Members (Shareholders): A Private Limited Company must have a minimum of two members (shareholders) to get started. These individuals can be natural persons or legal entities, and the maximum limit is set at 200 members.
2. Minimum Number of Directors’ Private Limited Company must have a minimum of two directors, and at least one of them should be a resident of India. The directors can also be shareholders.
3. Name Approval’s proposed name of the company must comply with the guidelines set by the Ministry of Corporate Affairs (MCA). The name should be unique, not similar to any existing company, and should not violate any trademarks.
4. Authorized and Paid-up Capital: While there is no minimum requirement for authorized capital, the company must declare the amount of authorized capital in its documents. The concept of paid-up capital is also relevant, and it represents the actual amount received from shareholders against the shares issued.
5. Memorandum of Association (MoA) and Articles of Association (AoA): The MoA and AoA are crucial documents that outline the company’s objectives, rules, and regulations. These documents must be prepared and submitted during the incorporation process.
6. Registered Office: The company must have a registered office address in India. This address will be used for official communication, and it must be operational and accessible to the public during normal working hours.
7. Director Identification Number (DIN) and Digital Signature Certificate (DSC): Directors must obtain a Director Identification Number (DIN), and at least one director is required to have a Digital Signature Certificate (DSC). These are essential for filing documents with the Registrar of Companies (RoC).
8. No Minimum Capital Requirement: The Companies Act 2013 has eliminated the requirement for a minimum paid-up capital for the incorporation of a Private Limited Company. Companies can now be formed with any amount of capital deemed appropriate by the promoters.
9. Age and Competency: The directors and shareholders must be competent individuals. There are no specific age restrictions, but individuals should be capable of entering into a legal contract.
10. Compliance with Statutory Requirements: The promoters and directors must ensure compliance with all statutory requirements of the Companies Act, including filing of annual returns, financial statements, and other necessary documents with the RoC.

WHY CHOOSE AURIGA TO REGISTER PRIVATE LIMITED COMPANY

HOW DOES AURIGA ACCOUNTING HELP IN REGISTER PRIVATE LIMITED COMPANY?

1. Name Reservation: Auriga Accounting can assist in selecting a unique and appropriate name for the Private Limited Company. They would ensure that the proposed name aligns with the guidelines set by the Ministry of Corporate Affairs (MCA) to avoid any rejections.
2. Documentation and Paperwork: The process of registering a Private Limited Company involves the preparation and submission of various documents, including the Memorandum of Association (MoA) and Articles of Association (AoA). Auriga Accounting can guide you through the documentation process and ensure that all necessary paperwork is in order.
3. Director Identification Number (DIN) and Digital Signature Certificate (DSC): Auriga Accounting can assist the directors in obtaining their Director Identification Numbers (DINs) and Digital Signature Certificates (DSCs). These are essential for filing documents with the Registrar of Companies (RoC).
4. Registered Office Address: Auriga Accounting can help in guiding the selection and documentation of a registered office address that complies with legal requirements.
5. Filing with the Registrar of Companies (RoC): The company registration process involves filing various forms and documents with the RoC. Auriga Accounting can handle this process efficiently, ensuring that all requirements are met.
6. Compliance with the Companies Act: Auriga Accounting can help ensure that the entire registration process complies with the Companies Act, including the appointment of directors, issuance of shares, and adherence to other statutory requirements.
7. Tax Registration: After company registration, Auriga Accounting can assist in obtaining the necessary tax registrations, such as the Goods and Services Tax (GST) registration and Permanent Account Number (PAN) for the company.
8. Annual Compliance: Auriga Accounting can provide ongoing support for annual compliance, including filing annual returns, financial statements, and other required documents with the RoC.
9. Legal Consultation: Auriga Accounting offers legal advice related to the structure and compliance of the Private Limited Company, ensuring that the company operates within the legal framework.
10. Additional Services: Depending on the service provider, Auriga Accounting may offer additional services such as accounting, bookkeeping, and financial consulting to support the business’s financial health.

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