Private Limited Registration
Company Registration
Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder. Further, foreign nationals, foreign corporate entities or NRIs are allowed to be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred choice of entity for foreign promoters.
Unique features of a private limited company like limited liability protection to shareholders, ability to raise equity funds, separate legal entity status and perpetual existence make it the most recommended type of business entity for millions of small and medium sized businesses that are family owned or professionally managed.
Documents Required for Company Registration
Entrepreneurs in the process of beginning a company registration are interested in knowing about the list of documents required for the process. In this article, we provide details and descriptions of the documents required for company registration.
Directors: Indian Nationals
The following documents are mandatory for Indian Nationals for incorporation of company in India:
PAN Card: PAN Card copy of the proposed Directors of the Company will be required for Company Registration. PAN or Permanent Account Number is a unique identification number issued by the Department of Income Tax in India. It is mandatory for Directors who are Indian Nationals to submit PAN during the incorporation process.
Note: The name on the PAN Card will be used by the Ministry of Corporate Affairs for all matters pertaining to the company. Hence, in case of mistake in the name mentioned in the PAN Card or name change due to marriage or any other reason, the PAN Card must be first changed. Click here to know about procedure for PAN Card name change.
Address Proof: In addition to the PAN Card copy, the proposed Director must submit an address proof. The address proof submitted must have the name of the Director as mentioned in the PAN Card and the most current address of the Director. Further, the document must also not be older than 2 months. The following documents are acceptable address proof for Indian Nationals.
- Passport
- Election Card or Voter Identity Card
- Ration Card
- Driving License
- Electricity Bill
- Telephone Bill
- Aadhaar Card
Residential Proof: In addition to the address proof, a residential proof must be submitted during the incorporation of the Company to validate the current address of the Director. As applicable for address proof, the residential proof must also contain the name of the Director as mentioned in the PAN Card and must not be older than two months. The following documents are acceptable residential proof:
- Bank Statement
- Electricity Bill
- Telephone Bill
- Mobile Bill
Director: Foreign Nationals
Pre-incorporation, as the name suggests, is the compliance which is mandatory for every Nidhi Company to follow after the registration. There are certain requirements that applicants must fulfill for obtaining Nidhi Company Registration. The requirements are as follows:
- There should be a minimum of 3 Directors and 7 Shareholders for registering your firm as a Nidhi Company, and
- You must have a minimum paid up share capital of Rs. 5 lakhs.
The following documents are mandatory for Foreign Nationals for incorporation of company in India:
Passport: In case of Foreign Nationals, Passport is a mandatorily required as a proof of identity. The Passport must also be Notarized or Apostilled in the country it was issued. In case the document is in foreign language, then it must be translated by an official translator to English and notarized or apostilled. Further, if the Passport does not contain date of birth of the holder, then an additional document indicating the date of birth of the Director must be provided, duly certified or attested or notarized or apostilled.
Address Proof: In addition to the Notarized or Apostilled Passport copy, the proposed Director must submit an address proof which is also notarized or apostilled. The address proof submitted must have the name of the Director as mentioned in the Passport and the most current address of the Director. Further, the document must also not be older than 1 year for foreign nationals. The following documents are acceptable address proof for Foreign Nationals.
- Driving License
- Residence Card
- Bank Statement
- Government issued form of identity containing address.
In case the document is in a foreign language, then it must be translated by an official translator and notarized or apostilled.
Residential Proof: In addition to the address proof, a residential proof must be submitted during the incorporation of the Company to validate the current address of the Director. As applicable for address proof, the residential proof must also contain the name of the Director as mentioned in the Passport and must not be older than one year. The following documents are acceptable residential proof:
- Bank Statement
- Electricity Bill
- Telephone Bill
- Mobile Bill
In case the document is in a foreign language, then it must be translated by an official translator and notarized or apostilled.
Registered Office Proof
In addition to providing identity, address and residential address for the Directors, proof must be provided to validate the registered office address of the Company. The following documents must be submitted as proof of registered office during the company registration process or within 30 days of incorporation of the company.
- The registered document of the title of the premises of the registered office in the name of the company; OR
- The notarized copy of lease / rent agreement in the name of the company along with a copy of rent paid receipt not older than one month;
In addition to the above, the following must also be provided as proof of registered office:
- The authorization from the Landlord (Name mentioned in the Electricity Bill or Gas Bill or Water Bill or Property Tax Receipt or Sale Deed) to use the premises by the company as its registered office. This is usually referred to as NOC from Landlord; AND
- Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months.
Shareholder: Indian National or Foreign National
Is the Return of Statutory Compliances. If Nidhi Company satisfies all the above conditions, then it should file NDH-1 along with the prescribed fees within 90 days from the closure of the first financial year after incorporation.
Shareholder: Corporate Entity or Artificial Judicial Person
In case one of the shareholder or subscriber to the MOA and AOA is a Corporate Entity (Company, LLP, etc.,), then Certificate of Incorporation of the Body Corporate must be attached along with the resolution passed by the Body Corporate to subscribe to the shares of the company under incorporation.
In addition to the above proofs and documents, a number of documents like INC-9, MOA, AOA would be drafted by a Professional. These legal documents made specifically for the incorporation must be signed and notarized by the promoters of the Company.
