Requirements to Register Private Limited Company

1. Minimum 7 Persons

A company can be registered in India, by at least seven persons, who shall act as the shareholders of the company. There is no limit on the number of shareholders and the minimum director required is 3 which cant exceed 15 directors.

2. Unique Name

The proposed name of the company should not resemble any existing company or LLP. Further you must check the trademark registry to ensure that the name does not match with any registered or applied trademark in India.

3. Resident Director

One director of the company must be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days of stay can be in phases.

4. Capital Requirement

Invest as per requirement of your business, and there is no minimum capital requirement as such to be maintained in the company. However, the government fee on company registration is calculated on the capital.

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Process of Registration for Private Limited Company

1. Digital Signature

As the application for Company Incorporation is filed online, the process starts with the issuance of Digital Signatures of class 3.

2. DIN (Director Identification Number) of all the Directors

DIN is the identity of the Director of company same like PAN number.

3. Name Availability of Company

The Company name must be unique and should not be same or similar to an existing company, LLP or a trademark.

4. Drafting of MOA and AOA

Memorandum of Association and Articles of Association of the company is drafted after the name of the company is approved.

5. Final Application

After drafting of MOA & AOA finally we are applying for COI with all stamp duties and Government Fees for Incorporation.

6. PAN and TAN form

The IT Department allots PAN & TAN, which is mentioned on the certificate of incorporation. Next is Bank A/c opening.

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Documents Required

1. Photographs of Director/Promotor

2. PAN card of Director/Promotor

3. Identity Proof (Aadhaar / Voter ID / Driving License / Passport) Any One

4. Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill) Any One (Not older than two month)

5. Utility Bill as Proof of Registered Address (Not older than two month)

6. NOC from the Owner of the Premises

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Benefits of an OPC Registration

1. Limited Liability

Business is the game of challenges where are only two stages profit & loss. The liability of members is limited in a Public Limited company, that mean which money and assets you have in the name of your Public Limited company only that thinks are liable for any kind of liabilities in the company for and the personal assets of promoter's person bank account are not liable.

2. Shareholders

No limit of shareholders public limited company is a benchmark for a large organization. In case if you are running a medium and large business and now wants to raise equity capital from the public then register a company as a Public Limited.

3. Separate Legal Entity

A Public Limited company is a legal entity and a juristic person established under the Companies Act. It has its distinct name and is the creation of law. Being separate from its director's/shareholders it can do business in its own name.

4. Borrowing Capacity

It can issue debentures, secured as well as unsecured and can also accept deposits from the public. It can also raise funds from Banks, Financial Institution etc.

5. Globalize 

In a Public Limited the area of business in not limited after registration, you can build your team and globalise your business after few nominal document part.