Any two legal people can open a private limited company while it must be limited to 200 members. To register a private limited company, a minimum of two shareholders and two directors are required. A 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 (FDI), making it the preferred choice of entity for foreign promoters. Our Dedicated Private Limited Registration specialist is available to assist you in the registration of your business across India.
How to register a company?
Companies Act 2013 stipulates a certain set of procedures for a business entity to be registered as a company.
1.Obtaining DIN(Director Identification Number)
DIN is a unique identification number issued under the Companies Act section 153 according to which all directors in a company need to possess a DIN.
2.Apply for DSC(Digital Signature Certificate)
In order to submit your document electronically, the company should obtain a DSC(Digital Signature Certificate). Hence, with this certification, the authenticity of the electronic document is established. Agencies that may issue DSC include MTNL, IDBRT, nCODE solutions, etc. DSC is unique for any business entity and is valid for one or two years.
3.Filing e-form or new user registration
A new entity should register with MCA(Ministry of Corporate Affairs) using e-form and create a user account.
4.Registering a company name
This is step is as important as registering the company. The company’s name should be unique and descriptive of the product which prevents a name similar to an existing company. It avoids confusion among consumers and clients. Along with registering the company’s name, one needs to check the availability of the domain’s name.
5.Acquiring PAN and TAN
This is the last step in registering your company. PAN (Personal Account Number) and TAN (Transaction Account Number) can be obtained using form 49A and form 49B, respectively.
After going through all these formal procedures, your business is all set to negotiate its way through the maze of the corporate world.
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