INDIA’S rapid growth pace due influx of population has compelled many to look for ways to survive by putting up their own businesses. However, putting up one requires a lot of research as to the type of business one should consider.
With no proven personal track record of business excellence, the most logical choice is to start with a limited number of stakeholders, starting with your own, using your own resources and familiarity in the business one is planning to get into.
Under such conditions, registration of PVT LTD Company in India best fits in the densely populated state of India.
Private Limited Company
Web sources define a private limited company as a privately-held business entity held by private stakeholders. As the name suggests, it has a liability arrangement embarking on a limited partnership, where shareholders are liable for a fraction of corporate shares under their individual account. The Ministry of Corporate Affairs directly administers concerns under such a type of business, including the procedure for registration of private limited companies in India.
Registration Procedure
- Step 1 – India’s government agency overseeing concerns on registration of private limited company in India requires Director Identification Number (DIN) and Digital Signature for purposes of digital sign-up.
- Step 2 – Just like any other business, it has to have a name, which would be applied for validation if only to avoid duplicate business names
- Step 3 – It is only then that they would be allowed to secure a form for Filing for Incorporation of Private Limited Company
- Step 4 – Upon completion of the filing, they would have to subscribe to the Private Limited Company
- Step 5 – Only then would they be able to secure a Certificate of Incorporation, a proof of legitimacy as a Private Limited Company in India.
However, the simplified procedure may not be as easy as it seems. It would still require professional business advisors to do the tricks for the highly-technical company registration process.
At the 3E Accounting India, we can guide you step by step that would see your group form part and parcel of the India Company Incorporation circle. We deliver results or your money back.