Private Limited Company Registration

What is SPICe- process of company incorporation??

a. Simplified Proforma for Incorporating Company electronically (SPICe) is a fast-track registration procedure initiated by the Ministry of Corporate Affairs which enables a single-form application process of company registration. b. The normal registration route can take up to thirty days but if SPICe is followed the whole process can be closed within 7 days. c. Easifyy aims at rendering premium services and delivering them in a speedy manner. The incorporation services shall be delivered following the SPICe route. .

. I need to raise capital from external sources. I am considering approaching Investors. Do i get any advantage on getting registered as a private limited company over other forms??

a. The capital structure of a private limited company can easily accommodate equity funding. So Venture Capitalists prefer Pvt. Ltd. over any other structure b. Being a regulations compliant entity, it becomes easy to attract capital infusion from financial institutions like banks, NBFCs, etc. .

Do I need to be physically present during this process??

No, your physical presence is not required during the process..

Is stamp duty payable during incorporation process??

Yes, Stamp duty charges are imposed by the state in which the registered office is proposed to be located. The charges are on MOA, AOA & form INC 32. These charges are not covered under the plan for all the states. .

How much time is needed to set up a private limited company??

The registration process gets completed when you get a certificate of incorporation(COI) issued by the registrar. The application can be processed within 7 working days..

. I already have my digital signature certificate and DIN. Will the package value remain the same??

If you already have a DSC and DIN, our experts will offer you some concession accordingly on the above package..

Can an NRI also become a director in company? And what additional documents will be required to be submitted??

a. Yes, an NRI or any foreign national can become a director in a private limited company. But such a person can be taken as a director only when there is one director who is a Resident of India. Additional documents required: b. Copy of Passport Copy Which is attested by Consulate of Indian Embassy or Foreign Public Notary. c. Copy of Driving License/ Bank Statement or Electricity Bills copy or Any Property Tax Payment Receipt which is attested by Consulate of Indian Embassy or Foreign Public Notary. d. RBI approval is required for foreign capital contribution. Additional charges will be applicable for RBI approval. Our experts will advise you on the applicable charges. .

I and my partner are both directors and shareholders in our company. We wish to bring in two additional shareholders as well. Is that covered in the package??

. In the current package, we cover up to 2 digital signatures for two directors. For two additional shareholders, you need to secure two additional digital signatures certificates. We offer digital signature certificates - Click here to purchase digital signature.

Our company would like to bring in a foreign citizen as a director. Is this covered in your package??

a. To bring in an additional director, you need to secure a digital signature (DSC ). b. Click here to purchase a digital signature c. Only the passport of the foreign director is required. In some countries, a residency certificate will be provided. These need to be submitted for the application. Any incidental charges here are not covered in the package. .

Our company would like to bring a non-resident Indian as a director in the company. Is this included in the package??

a. To bring in an additional director, you need to secure two digital signatures (DSC) b. Click here to purchase a digital signature c. If the individual is residing outside India at the time of the application, then he or she needs to get the PAN, Aadhaar, current address (in the country of residence), permanent address attested by the Indian embassy in that country. Any incidental charges here are not covered in the package. .

My details on my documents have a difference. Can I still incorporate my company using them??

. You will need to have exactly the same details on all your documents to incorporate your company..

What is a Private Limited Company??

A private limited company lies somewhere between a partnership and a widely owned public company. It limits the liability of the owner to their respective shares. It also restricts shareholders from publicly trading shares. The maximum number of shareholders in a private limited company has been extended to 200 (from 50) as per the new Indian Companies Act..

Are private limited companies the ideal for small business??

It is beneficial for small businesses to get registered as private limited companies since it adds credibility to their business. It helps the company acquire loans from banks, potential investors as opposed to a one-person-company, sole proprietorship, or partnership..

Are there any requirements for setting up a Private Limited Company??

Here are few basic requirements for incorporating a private limited company anywhere in India: 1. A minimum of Two Directors and Two Shareholders (The Directors can also be Shareholders). 2. There is no prescribed limit or recommendation regarding the Minimum Paid-up Share Capital required for incorporating a private limited. 3. Copies of the PAN Cards of the Directors/Shareholders (Indian Nationals) or Copy of Passport (Foreign Nationals). 4. DINs (Director Identification Numbers) 5. DSCs (Digital Signature Certificates) of the Directors. 6. Copies of the Identity Proof and Address Proof of All Directors. 7. Address Proof of the Registered Office of the company.

How many directors are required to incorporate a private limited company in India??

. A minimum of two directors is required for registering the private limited company. Each director should have a DIN i.e., director identification number which is allotted by the ministry of corporate affairs. It is important that one of the directors must be a resident of India, this means he/she should have resided in India for not less than 182 days in a preceding calendar year..