What is a private limited company ? - for More info - vakilsearch.com/online-compan...
Starting a private company the detailed insight. First, let's begin with understanding
What is a private limited company?
It's a voluntary association of not less than two and not more than 50 members whose liability is limited. The transfer of shares in a private limited company is limited to its members who are not allowed to invite the general public to subscribe to the company's shares or debentures. It enjoys continuity of existence. It continues to exist even if all its members die or leave the organization.
How a private limited company can be incorporated?
Step by step. First for registering a private limited company. There are a few important documents that are required.
1. Identity proof of each founder(It can be a passport, voters ID or driving license)
2. Address proof of each founder( It can either be the latest electricity or phone bill).
3. PAN card of each founder,
4. Passport-sized photograph of each founder.
Will share a document with you just print, sign, scan and send it back. Finally, we would require every proof to be self-attested by you. Now give you more clarity on how the documents need to reach us.
How to send the document details?
Simplistically, you can do the following procedures:
1. Scan and send the documents by email.
2. If scanning is difficult. We have a free doorstep document pickup. Just fill our simple form and let us know when you'd like us to pick up the documents from you.
Procedure for incorporation:
To incorporate a company, there are four simple procedures, which need to be followed. Here is why Vakilsearch will be able to make the process extremely simple.
Step 1: Getting your digital signature which will need a three to four-day duration.
Step 2: Getting a unique number called a Directors Identification Number (DIN). Every Director must get one. DIN helps maintain a database of the directors and complete information on each one of them.
Step 3: Choosing a name for your company. It's very important to ensure the name contains the following. Now coined words as the prefix an activity of the business in the suffix.
Step 4. We prepared the Memorandum of Association and Articles of Association and entered the filing as a complete post which you get a certificate for incorporation. This process will take a 10 to 15-day duration.
How to choose the name of the company?
Choosing a name for your company can be a tricky process.
1. A company whose name should either be unique or descriptive.
2. A company name should be unique for better customer identification and to distinguish the brand from that of its competitors.
3. A descriptive name usually attributes to the characteristics of the product like General Motors. Finally, it should turn out to be short, simple and easy to remember.
Step 1: Unique Name
To further reiterate the unique name can be created by you. You can take two existing words and join them and create a new one.
For example, information and systems enforce Federal & Express is FedEx. In this procedure, you just need to ensure few things are kept in mind. Ensure adjectives in generic names are avoided. Trying not to call it the best software on national software. They will be rejected. Chances of rejection are high. While the name does not contain a noun or an activity. What activity in the name does not match with the business.
Step 2: Descriptive name
Descriptive names and descriptive names are purely descriptive of what the company does or the product does. For example, if your company's unique name is Acme. Call it Acme software services private limited not acme services private Ltd. Also, remember a brand name can be different from that of its company name. A company's name refers to the organization that markets products or services. The brand refers to the image and personality a company applies to its product.
For example, naukri.com is the brand name and info edge private Ltd is the company's name.
Is it expensive to start a private limited company?
If you think it's expensive to register a private limited company you should get your company incorporated with Vakilsearch. We offered a service 70 percent cheaper than an average lawyer, company secretary, and chartered accountant. You can now get your company registered at Rs 6999 plus government fees. If you are concerned about the payment process you can now make the payment online with the Vakilsearch.