Setting up a company in India has become a very easy procedure and at some very compelling prices. Out of these companies, setting a Private Limited Company is one of the most recommended ways to start a business in India these days. This specific type of company offers limited liability for all of its shareholders but has certain restrictions placed on the ownership. The director might not be counted, as in private limited company registration, directors may be different from shareholders. For new entrepreneurs, it is recommended, they take help from a legal firm like Muds Management to make this process hassle-free and simple.

Minimum Requirements for the Registration:

As stated & defined under the Companies Act of 2013, we must ensure that the requirements of the checklist are made before we start the registration procedure.

In a private limited company, there must at least be two directors present and at maximum, a total of 15 directors and at least one direct among all must be a resident of India.

The name of your business must be unique and different from all the others already registered. In other words, the suggested name should not match with any of the already existing companies or trademarks in India.

There is no minimum capital amount for a company but there should at least be an authorized capital of Rs.1 lakh as a minimum capital contribution for the company.

It is not compulsory for the registered office of a company does not have to be a commercial space which means that it can carry out even a rented house can be named as the registered office so long as the NOC is obtained from the landlord of the rented place.

Steps to Register the Company:

The Company Registration in India will, in the end, boost the progress of various start-ups in the economy and provide an additional edge to those who have registered over those who have not. The Ministry of Corporate Affairs governs the procedure of company registration with their rules and regulations framed following the law. The following are the steps to register your company:
• The application for Digital Signature Certificate (DSC) will be required.
• It is needed to apply for the Director Identification Number (DIN).
• The application for the availability of names will also be required.
• The filing of the company’s Electronic Memorandum of Association (E-MoA) & Electronic Article of Association (E-AoA) to register a private limited company.
• It is needed to apply for the PAN & TAN of the respective company.
• An issued certificate of incorporation by the Registrar of Companies with PAN and TAN will also be needed.
• A current bank account in the name of the company’s name should also be opened.