An One Person Company is a half and half structure, wherein it joins the greater part of the advantages of a sole proprietorship and an organization type of business.
Private Limited Company Registration Services in Purnea
A private limited company is a company that is privately held by the owners of the business. The members of a private limited company have limited liability with respect to the number of shares held by them. Private Limited Company is incorporated and regulated under the Companies Act 2013 and its registration is governed by the Ministry of Corporate Affairs (MCA). A private limited company is an ample option to start a business in India and it creates a huge potential for growth and expansion. Avyud Consultancy can help you in Private Limited Company Registration at a very affordable cost. We provide quick and affordable service to register a Private Limited Company with 100% transparent process. Our services are trusted by thousands of businesses in all major cities of India. Private limited company registration is highly preferred by Avyud Consultancy.
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Advantages of Private Limited Company
Limited Liability
During the recent recession, which lasted from December 2007 – June 2009, many businesses experienced financial problems and permanently closed. One advantage of owning a private limited company is that the financial liability of shareholders is limited to their shares. Therefore, if a private limited company was in financial trouble and had to close, shareholders would not risk losing their personal assets. Although, perpetrating a fraud related to the private limited company would negate an owner’s limited liability protection.
Restricted Trade of Shares
The restriction placed on the sale or transfer of shares may be considered an advantage or disadvantage, depending on your outlook. It is an advantage to some shareholders because shareholders who want to sell shares cannot sell them to outside buyers. Shareholders must also agree to the sale or transfer of shares; therefore, the risk of hostile takeovers is low. The restriction placed on the sale of shares is a disadvantage because shareholders have limited options for liquidating shares.
Continued Existence
Another advantage of a private limited company is its continued existence, even after the owner dies or leaves the business. Private limited companies are incorporated. When a business incorporates, it becomes an independent legal entity, meaning it is able to sue or own assets separate from the company owner. A private limited company differs from a sole proprietorship in that the latter is owned by a single individual who is personally responsible for the company’s business debts and essential to its continued existence.
Tax Breaks
Private limited companies also enjoy tax advantages. For example, their corporate taxes may be lower than those paid by other types of businesses. Financial statements for private limited companies must be filed no later than nine months after the fiscal year ends. The first accounting period begins the same day that the business is incorporated. When pursuing tax advantages, private limited companies must keep accurate records.
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FAQs for Private Limited Company Registration Services
What is Private Limited Company?
Private Limited Company is mode of registration of business set up in India. It gives you a separate legal entity for operating your business with your desired unique name which also get reserved during its registration. A body of central government of India known as Ministry of Corporate Affairs is looking after all affairs of company registration and its regular compliance.
What is Minimum Capital Required for PVT Company?
A private limited company required a minimum capital of Rs. 1, 00,000. This amount is supposed to deposit by the shareholder in decided share percentage in the bank account of company. Then the same amount can be used by the company for its operations.
Features of Private Limited Company :-
- Require 2 Person as Entrepreneur i.e Directors.
- Easily Setup and recommend to Growing Startups.
- Limited Liability for Members.
- More Credibility as Compare to others.
- Easily raise funds from Investors.
- ESOP Option are available to motivated Employees.
What are The Disadvantages of Private Limited Company?
- Statutory Compliance are High.
- High Setup Cost as Compare to Others.
- Involvement of other Directors in Decision Makings.
- Restricted to transfer of the shares to others without agreements.
- Not allow invite to public for deposits.
What are The Documents Required for Registration?
Identity proof and address proof is mandatory for all the proposed Directors of the Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof. Memorandum of Association and Articles of Association and other documents are prepared by us.
How Many Directors are Required in a PVT company?
A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors.
What are The Requirements to be a Director?
The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, foreign nationals can be directors in a Indian Private Limited Company.
Our Other Services in Purnea, Bihar
Public Limited Company
A public limited company ‘s stock is offered to the general public and can be earned by anyone, either secretly, during an first public offering or through trades on the stock market.
Subsidiary for Foreigners
India is quickest developing economies, India is a favored goal for speculation from NRI’s, Foreign Nationals and Foreign Companies because of its blasting economy and abundance of assets.
