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Pvt. Ltd. Company Registration
Expand your company! Declare it to be a Private Limited Company for total protection under the law. A privately held firm for small businesses is called a private limited company. This company limited the number of shareholders to 200 and the amount of liability that owners may have to pay on their shares. It also prohibits shareholders from engaging in public share trading.
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There can be two directors at minimum and up to fifteen at most. The Companies Act of 2013 and the Companies Incorporation Rules of 2014 govern the registration of private limited companies. Use Licit 360’s Private Limited Company Registration services to make it official!
We provide a comprehensive package that includes simple documentation, quick registration, and a hassle-free experience so you can concentrate on developing and expanding your company. Enroll in a private limited company right now to begin taking advantage of a registered business name!
Correlation
Proprietorship vs Limited Liability Partnership (LLP) vs Company
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Features
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Proprietorship
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Partnership
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LLP
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Company
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Definition
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A business that is owned and run by just one person is known as a sole proprietorship.
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A partnership is a formal agreement between two or more people or organizations to divide the ownership, management, earnings, and liabilities of a firm.
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An LLP is a type of hybrid business form that blends aspects of corporations and partnerships. It shields its partners' personal assets from the business's obligations by providing limited liability.
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A firm is an independent legal body existing apart from its stockholders. Either a public limited business or a private limited company may exist. The board of directors oversees the business's administration and activities. Shareholders own the corporation outright, with liability restricted to their investment.
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Time of Registration
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7-15 working days
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Authority
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Local laws are in charge.
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As per the Partnership Act of 1932
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The LLP Act of 2008
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In accordance with the 2013 Companies Act
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Standards for Compliance
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Observance of income tax laws and other municipal laws
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Observance of income tax laws and other municipal laws
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Respect for Income Tax Laws, Local Laws, the Companies Act, and other relevant laws
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Respect for Income Tax Laws, Local Laws, the Companies Act, and other relevant laws
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Taxation
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The individual's income tax rates are applied on income.
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Generally, income is taxed at the rates applicable to each individual partner.
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taxed as a partnership, with each member paying personal income taxes based on their profit sharing.
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subject to the rates of corporate taxation. Dividends are subject to taxation for shareholders.
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Possession
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In a proprietorship, the company is owned and run by just one person.
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Two or more people, referred to as partners, share management and ownership duties in a partnership
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Due to limited liability, partners' private assets are typically shielded from obligations or liabilities incurred by the company.
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A company's owners, or shareholders, are not the same as it legally. Limited liability protects shareholders from personal assets being
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Advantages
eternal life
The company is still in operation even if its shareholders are replaced.
Restricted responsibility
The debts and obligations of the corporation do not directly affect shareholders.
distinct legal entity
Apart from its owners, the firm is a separate legal entity.
More money
Shares can be issued by private limited enterprises to raise capital.
Obtaining Funds
The structure of a private limited corporation is attractive to potential investors.
distinct taxes
The owners and the firm pay different taxes.
Minimal risk
Only the outstanding balance on their shares is owed by shareholders
worldwide growth
Private limited businesses are able to grow internationally with flexibility..
Legal defense
Directors and stockholders are legally protected by a company's structure.
Getting Capital
Potential investors find the structure of a private limited company appealing.
Love From Our Customers
Our clients value our promptness in completing their legal work and the ease with which they can file with us. We work hard to give our customers the best service possible because we appreciate their faith in us.
It can also propose ensuring product quality while protecting your brand’s value and instilling trust in your target clients. Trademark registration provides your firm with separate ownership rights as well as legal protection. Your company will gain a distinctive personality as a result.
It is possible to conclude that registering your company’s trademark will benefit you greatly. It not only distinguishes your business but also reveals the motivation behind it. It can expand your company’s reach globally and improve your chances of becoming an industry leader in today’s digital environment.
FREQUENTLY ASKED QUESTIONS
A Private Limited Company is a form of company that limits the transferability of its shares and provides its stockholders with limited liability protection. A minimum of two directors and two shareholders are needed, while a maximum of 200 stockholders are allowed.
In India, you must have a minimum of two directors and shareholders—who may be the same person—in order to create a private limited company.
India should be home to at least one director.
Minimum paid-up and authorized share capital.
Address of the Indian registered office.
Is it possible for a foreign national to hold a directorship or stock in a private limited company?
It is true that a non-Indian national may hold shares or serve as a director of an Indian private limited company. But one director needs to live in India at least.
A Private Limited Company is not required to have a minimum amount of capital. Any authorized and paid-up share capital that is judged suitable for the business may be used to register the company.
Typically, the procedure entails obtaining Director Identification Numbers (DINs), reserving a name, creating the articles of association and memorandum, and filing the incorporation documents with the Registrar of Companies (ROC). Depending on how quickly the government processes your documents and how well they are prepared, the registration process may take anywhere from 10 to 20 days.
Indeed, a residential address may serve as the company's registered office. However, in order to verify the legitimacy and legality of the address, a few papers and other evidence will be needed.
The ROC requires yearly returns, the filing of annual financial statements (profit and loss account and balance sheet), the conducting of annual general meetings, and the upkeep of statutory registers and books of accounts.
Yes, a Private Limited Company may use the specified conversion methods to change into a Limited Liability Partnership (LLP) or another kind of company, subject to specific requirements and legal constraints.
Profits earned by a Private Limited Company are liable to corporate income tax. Moreover, depending on the nature of the business activity conducted by the organization, additional taxes like the Goods and Services Tax (GST) can be applicable.