Private Limited Company Registration in Haryana

What is a Private Limited Company?

A Private Limited Company is a business structure in which a company is run privately. For Small or Medium size businesses, Private Limited Company is considered as the most preferable option. A Private Limited Company is a separate legal entity and has limited liability for its owner which directly protects their personal assets from being used for Company’s debt. Also, any decision in a private limited company taken by the owner and they are not allowed for raising the capital from the public. A private limited company allows perpetual succession which means it can be continued and the company's operations will not be impacted.

Types of Private Limited Company

Private Limited Company is mainly of three types; limited by shares, limited by guarantee and unlimited companies. Let’s discuss these types in detail:

1. Company Limited by Shares: In Companies limited by shares, the liability of shareholders is limited to the nominal share amount as mentioned in Memorandum of Association.
2. Company Limited by Guarantee: In Companies Limited by Guarantee, member’s liability is limited to the amount of guarantee as mentioned in Memorandum of Association.
3. Unlimited Companies: In Unlimited Companies, the members have unlimited liability which means their personal assets can be used to recover companies debt.

Who is Eligible for Private Limited Company Registration in Haryana

In order to register a Private Limited Company, there are some eligibility criteria that need to be fulfilled. Following is the detailed required eligibility criteria:

1. Number of Members: A Private Limited Company must have at least two shareholders and maximum this figure can go up to 200 members.
2. Number of Directors: There should be at least 2 directors and one of them must be an Indian Resident.
3. Capital Requirement: There is no minimum paid up capital required to start a Private Limited Company. One can start a company with ₹1 lakh.
4. Registered Office Address: To start a Private Limited Company, a registered office address is required where official notice and statements can be sent.
5. Company’s Name: To start a Private Limited Company, Companies must have “private limited” or “Pvt Ltd” at the end of the company's name.

Documents List for Private Limited Company Registration

To start a Private Limited Company, certain documents are required. Following is the list of documents required to start a Private Limited Company:

1. Identity Proof of Shareholder/Director of the company
2. Address Proof of Shareholder/Director of the company
3. Contact Details such as Mobile Number and Email ID
4. Passport Size Photographs of Shareholder/Director of the company
5. Any Utility bill of the company's official address such as Electricity Bill, Telephone Bill, Water Bill, etc.
6. Proof of ownership is required for company’s owned property, in case of rented property NOC is required from the owner of the property.

Steps to Register a Private Limited Company in India

To register a Private Limited Company, certain steps are required to be followed. These steps are as follow:

1. Step 01: Obtain DSC: The first step for Company’s Registration is to obtain Digital Signature Certificate and Director Identification Number for all the Directors of the company.
2. Step 02: Reserve Company’s Name: Next you need to check the name availability on MCA Portal and then reserve your company’s name using RUN (Reserve Unique Name) form.
3. Step 03: Prepare MoA AoA: Next, prepare MoA (Memorandum of Association) & AoA (Article of Association) for your company in which all the rules & regulations along with roles & responsibility is mentioned.
4. Step 04: File Incorporation Form: Once you obtain all the required documents, file the Incorporation form i.e, SPICe+ Form. In this form MoA & AoA will be attached.
5. Step 05: Fee Payment: The next step is to pay the required fees including government & professional. The professional fee can vary from consultant to consultant.
6. Step 06: Certificate of Incorporation: After the final submission of the application, RoC will verify all the details and on the final approval your Incorporation Certificate will be issued.

Advantages of Registering a Private Limited Company in India

Starting a Private Limited Company in India can be a beneficial decision. A private limited company offers multiple benefits and they are as follow:

1. Easy Funding: A Private Limited Company can not distribute its shares among the public but it can easily raise funds through venture capital or Private Investors.
2. Asset Protection: Private Limited Company offers limited liability which means Shareholders personal assets will not be used for the repayment of Company’s Debt.
3. Tax Benefits: There are numerous tax benefits as well offered by the Government after registering a Private Limited Company in India.
4. Perpetual Succession: A Private Limited Company can be continued even after the retirement/resignation of the directors which makes it easy to continue the company for a long time period.
5. Enhance Credibility: A Registered Private Limited Company has more credibility and professional image which attracts more investors to contribute in their business.

Time Required for Private Limited Company Registration

Registering a Private Limited Company can be a time taking process if all the documents are not prepared. Also, there are multiple tasks to complete the Registration Process such as name reservation, obtaining DSC & DIN, filing Incorporation form, etc. Usually a Company can be registered within 15-20 Working Days. Following is the structured table of time required for Private Limited Company Registration:

Why Choose Register Adda for Private Limited Company Registration?

Register Adda is one of the best consultants for Private Limited Company Registration. We offer Private Limited Company Registration at the most cost effective price and in a minimal time period. Also, we have a professional team of CAs & CS who have multiple years of experience in Company Registration in India. We will take over the process on your behalf so that you can focus on your business. Register your Private Limited Company in India Now with Register Adda!

Frequently Asked Questions (FAQs)