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A comprehensive list of frequently asked questions on Private Limited Company & LLP Registration.
A Private Limited Company has a minimum of two Directors. Maximum number of members that a Private Limited Company can have is 50. Total capital of such a company is formed with shares and every shareholder. Pvt Ltd Company all its transactions should be audited. The name of such a company ends with the words 'Private Limited'.
It is a business structure that captures flexibility of a partnership and benefits of limited liability to the owners at a low cost. In other words, it's a combination of a Company and Partnership where one partner is not liable for misconduct or negligence of another partner.
DSC stands for Digital Signature certificate. DSC is the digital equality of physical papers or certificates. It is needed to file the form electronically with the concerned department. For the purpose of a private company registration, DSC for one of the Directors is required.
Note: Starting from 1st Jan 2021, IT and ROC departments mandated to have Class-3 DSC (higher price & higher security) instead of Class-2 DSC. If you have older Class-2 DSC, it is still valid until it's expiry date.
AOA means Articles of Association, MOA stands for Memorandum of Association. These documents act as important source of information for various shareholders and other stakeholders associated with a Company. MOA reveals the name, objectives, aims, registered office address, clause regarding limited liability, minimum paid up capital and share capital of a Company. It explains the relationship of a Company with outside world. AOAs are the necessary documents to be submitted when the company is incorporated with the registrar of Companies (ROC).When AOAs are in conjunction with the MOA, they are called the Constitution of the Company.
DIN, Directors Identification Number, it is an identification number issued to a Director or a prospective Director of a Company by the Ministry of Corporate Affairs, Government of India. To obtain a DIN, one needs to make an online application to the Ministry of Corporate Affairs and submit the required documents related to Identity and Address Proof. Once the Ministry verifies these documents, the DIN will be allotted to the person.
For LLPs, we use the term DPIN, Designated Partner Identification Number (DPIN).
No, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms, for some we need your signature on them.
Generally speaking, it is not required to have a commercial office space, unless the business demands commercial space at your main location (HQ Location) , requirements like, considerable walk-ins, manufacturing space, labour operated premises etc. You can show your own residential or rented home or office address as the registered office address for your Company or LLP.
Your HQ Address can be changed at any time after incorporation of a Company or LLP.
Registrar of Companies (ROC) is a Regulatory body from Government of India, whose role is to register, monitor and control the Companies incorporated in India.
ROC local offices are very much present through out India. Some of the prominent offices are in major cities such as Mumbai, Chennai, Delhi, Calcutta, Bangalore, Hyderabad.
Directors of Private limited company or Designated Partners of LLP are not required to physically visit local ROC Office at the time of registration.
* Dates may change. Check EZTax.in Calendar or respective government portals.