Forming a private limited company comes with a host of benefits. If you are planning to do the same then our private limited company registration service will be instrumental in making things move for you in the right direction.
My Legal Clinic has decades of experience in helping people get their companies formed. Keep on reading to know more.
A private limited company is mostly held privately by small companies/businesses that have restrictions on owner liability and limited shareholders to 200.
There are many benefits of registering your Private Ltd. Company. Take a look.
A private company needs to be a separate legal entity from you. In this case, if your company incurs any losses, you will not be held responsible. Instead, the company will be solely responsible for its assets and liabilities management and its debtors and creditors. In any case, your creditors cannot bug you for recovering the money.
While registering your PLC, you will face many compliance requirements. But after registration, you are eligible for fundraising through equity - helping you expand and limit liability.
As a shareholder of your PLC, your liability to the company is limited to the contribution, you make. Therefore, you don't have any personal liability and do not have to pay for the company's liability out of your own asset.
Trusting a company is easier when you know all the details about it. Indian PLCs are registered with the Registrar of Companies (ROC). The details of companies registered under the Company Act 2013 are available for everyone to check.
Small private businesses are likely to get dissolved as the owner of the company dies. But being a separate legal entity, it will keep on existing even after the death of the owner or the CEO. The change or death of an important member will not affect the company's operations.
The registration process of your private limited company follows essential steps that include:
While registering for your PLC, you will have to provide the basic official documents, which include:
The registration fees for the PLCs are different for different companies because of various factors like share capital, no. of shareholders, and no. of directors, etc. Apart from the government fee for company registration, you will also be spending some amount if you hire professional help for your company's registration.
It is suggested to hire a professional to make the process simpler and faster, where the professional team will guide the owners through the various processes, including documentation.
PLC registration doesn't take long, especially if you are working with a professional team. Including the approval of DIN, Company name, incorporation, etc., it will take around 10 working days. The time often depends upon submitting appropriate documents and how fast the government approvals work.
You can try going to a unique name if you want faster incorporation, making it speedier approval.
MoA stands for Memorandum of Association, a foundation on which a company is built. AoA stands for Articles of Association and includes the rules and regulations associated with the company's management.
At My Legal Clinic offers expertise and many years of experience ensuring that your company incorporation becomes faster and easier at every stage. The company has teams of professionals knowledgeable in fields such as compliance, accountancy, law, etc.
If you are looking for a guide and assistance through each stage of your company registration, My Legal Clinic is the best place for small companies because of its affordable rates.