What is private limited company registration?
Small enterprises can be privately held through a private limited company. Limited to 200 shareholders, this kind of business structure prohibits shareholders from engaging in public share trading and caps owner liability at their shareholdings.
Why is private limited company registration used?
As a result, a business structure has broad legal capabilities, allowing it to own property and incur debt. A company’s members, or shareholders or directors, are not liable to the company’s creditors for these kinds of debts. As a result, a PVT LTD corporation is a distinct legal entity from its members.
Who is eligible for private limited company?
A private limited company must be registered with the involvement of two directors and shareholders at the very least. While stockholders may be either natural people or corporate entities, directors must be people. Additionally, in order to register a corporation, an Indian registered office address is needed.
How much turnover is required for private limited company registration?
If a One Person Company’s minimum yearly turnover surpasses Rs. 2 Crores, it must be converted into a Private Limited Company. One-person businesses can gain access to further advantages like fundraising by converting to private limited companies.
What are the documents required for private limited company registration?
Documents Required for registration of Private Limited Company:-
- Passport size photographs of the directors.
- Aadhar Card.
- Driving License or Voter ID.
- PAN Card.
- Bank statement
- Electricity bill (not older than two months)
- Passport (in case of foreign national or NRI)
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