HOW DO I START A PRIVATE LIMITED COMPANY?

To start a private limited company, begin by choosing a unique name and reserving it with the Registrar of Companies. Obtain Digital Signature Certificates (DSC) and Director Identification Numbers (DIN) for directors. Prepare the Memorandum and Articles of Association outlining company details. File incorporation documents like SPICe+ form online with the Ministry of Corporate Affairs, paying applicable fees. After verification, the Registrar issues a Certificate of Incorporation. Auriga Accounting assists by providing comprehensive support throughout the registration process, ensuring compliance and efficiency. They offer professional guidance, document preparation, and liaison with government authorities, simplifying the company formation process.

What are the minimum requirements to start a private limited company?

The minimum requirements to start a private limited company as per the Companies Act, 2013, include:

1. Directors: A minimum of two directors are required. At least one director must be a resident in India, meaning they have stayed in India for a total period of not less than 182 days in the previous calendar year.
2. Shareholders: A minimum of two shareholders are required. Shareholders can be individuals or corporate entities.
3. Authorized Share Capital: There is no minimum authorized share capital requirement under the Companies Act, 2013. However, the company must declare an authorized share capital during incorporation.
4. Registered Office: The company must have a registered office address in India. This can be a commercial or residential premises, but it must be capable of receiving and acknowledging all communications and notices as per the Act.
5. Digital Signature Certificates (DSC): Directors must obtain digital signature certificates (DSC) from certified authorities. These are used for digitally signing incorporation documents.
6. Director Identification Number (DIN): Each director must obtain a Director Identification Number (DIN) from the Ministry of Corporate Affairs (MCA).

How do I choose a name for my private limited company?

Choosing a name for your private limited company is an important step in the incorporation process. Here’s how you can go about it:

1. Unique and Distinctive: Ensure that the name you choose is unique and distinctive. It should not be identical or too similar to the names of existing companies or trademarks. Conduct a thorough search on the Ministry of Corporate Affairs (MCA) website to check the availability of your desired name.
2. Relevance: Choose a name that reflects the nature of your business, its values, and objectives. The name should be relevant and meaningful to your target audience.
3. Legal Compliance: Ensure that the name complies with the naming guidelines set by the MCA. Avoid using words or phrases that are offensive, misleading, or prohibited by law.
4. Check Availability: Before finalizing the name, check its availability for registration. Use the RUN (Reserve Unique Name) web service provided by the MCA to check the availability of your desired name in real-time.
5. Domain Availability: Consider the availability of a matching domain name for your company’s website. Having a consistent online presence is crucial for branding and marketing purposes.
6. Future Expansion: Choose a name that allows for future expansion and diversification of your business. Avoid names that may limit your company’s growth or restrict its scope of activities.
7. Trademark Search: Conduct a trademark search to ensure that the name you choose is not already trademarked by another entity. This helps to avoid potential legal issues in the future.
8. Feedback: Seek feedback from trusted friends, family members, or business advisors on the shortlisted names. Their input can provide valuable insights and perspectives.

How long does it take to register a private limited company?

The time it takes to register a private limited company can vary depending on several factors, including the efficiency of document preparation, submission, and processing by regulatory authorities. Generally, the registration process typically takes around 15 to 30 days from the date of application submission. However, it’s important to note that this timeframe is subject to various factors such as the workload of the Registrar of Companies (ROC), the accuracy and completeness of the application, any additional document requirements, and any potential delays in document verification or approval. Working with experienced professionals and ensuring all required documents are in order can help expedite the registration process.

How Auriga accounting help you to start a private limited company?

Auriga Accounting can assist you in starting a private limited company by providing comprehensive support throughout the entire process. Here’s how they can help:

1. Expert Guidance: Auriga Accounting offers expert guidance on the legal and regulatory requirements for starting a private limited company. They ensure that you understand all the necessary steps and comply with relevant laws and regulations.
2. Document Preparation: Auriga Accounting assists in preparing all the required documents for company registration, including Memorandum of Association (MOA), Articles of Association (AOA), and other incorporation documents. They ensure accuracy and completeness of the documentation.
3. Name Reservation: Auriga Accounting helps you choose a unique name for your company and checks its availability with the Registrar of Companies (ROC). They handle the process of reserving the name through the RUN (Reserve Unique Name) web service provided by the Ministry of Corporate Affairs (MCA).
4. Filing and Submission: Auriga Accounting handles the filing and submission of all incorporation documents with the MCA. They ensure that the necessary forms are completed accurately and submitted within the required timeframe.
5. Compliance Assistance: Auriga Accounting provides ongoing compliance assistance to ensure that your company meets all statutory requirements after registration. They help with filing annual returns, conducting board meetings, maintaining books of accounts, and adhering to tax regulations.
6. Professional Liaison: Auriga Accounting acts as a liaison between you and regulatory authorities, such as the ROC and MCA. They handle communication, clarification of queries, and follow-up on any additional requirements or approvals needed for registration.