Private Limited Company Registration
Register your Private Limited Company with speed, ease and Value Savings
-We will draft and file your application to MCA
-You just need to fill a simple 10-minute Questionnaire
– Simplifying your business journey
What is a Private Limited Company?
A Company is an association of persons who share common goals. Moreover the owners of the company pool their resources in order to achieve their common goals. A private limited company is a closely held company with restriction to issue shares to public. Thus that it cannot go for an IPO or list their shares on stock exchange for public trading of their shares. Private Limited Company Registration in Chennai is regulated by the Companies Act, 2013 and administered by the Ministry of Corporate Affairs.
Private Limited Company Registration in Chennai is ideal for Startups who:-
- Want a Separate Legal Entity with Limited Liability and Perpetual Succession.
- Want to go for seed funding.
- Want to issue ESOP’s to their employees.
Benefits of Private Limited Company Registration in Chennai
In a city where traditional businesses have dominated, startup activity is blossoming like never before. Chennai is a stronghold of companies offering software-as-a-service (SaaS) and its hardware ecosystem is embracing a culture of bold, advanced experimenting.
The city houses a booming automobile industry. 30% of the nation’s automobile industry and 40% of the auto components industry is established in Chennai. Chennai ranks as the second IT export hub of the country.
Nearly 2.50 lakh new sales jobs can be created in Chennai provided ten major regulatory reforms, including consolidation of 44 central labour laws into four, are carried out.
In the last year, around 32 companies were financed by the financers interested in start-ups. This is also possible because of the availability of all the vital resources for business.
Ease of business
Chennai has the literacy rate of 81.3%, so it becomes very easy to get talented and skilled employees. Chennai is also known as the Detroit of India because more than one-third of India’s automobile industry is based in the Chennai. Software Technology Parks of India (STPI) provide support with Company Registration in Chennai for emerging entrepreneurs.
Advantages of Private Limited Company Registration in Chennai
- The separate legal entity provides immunity to the owner’s personal property or assets in case of bankruptcy.
- The freedom to easily add or remove members in the company comes with the perpetual succession. There won’t be any harm to the company’s existence.
- Investors are willing to invest in a private limited company.
- Registration of a private limited company requires a minimum of just 2 members.
- Private Limited Company is your best option, if you want to expand your company and take it on a global level. Private limited companies and limited companies are the only types of companies that allow 100% Foreign Direct Investment in the international market.
- The Directors are also usually the main shareholders of the Company. Hence both the ownership and control of the business remain in their hands.
- The scope of capital expansion as a maximum number of shareholders allowed is 50.
- Employee stock option program (ESOP) is a source of extra motivation beyond salary. As a result, employees will also have vested interest in the success of the company.
Private Limited Company Registration in Chennai Package : Inclusions
- DIN for 2 Directors
- DSC for 2 Directors
- Name search & approval
- ROC Fees & Pan card
Procedure for Private Limited Company Registration in Chennai
Documents for Private Limited Company Registration in Chennai
- Copy of PAN Card of directors
- Passport size photograph of directors
- Copy of Aadhaar Card/ Voter identity card of directors
- Copy of Rent agreement (If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers(If owned property)
- Landlord NOC (Format will be provided)
Steps for Private Limited Company Registration
Step 1: Acquire Digital Signature (DSC)
The Private Limited company registration procedure is completely online and hence it requires digital signature for private limited company registration in Chennai. It is mandatory for subscribers and directors to have a valid DSC ( Class II or III). You can get a DSC from us in just one day. It is already included in our package. If directors already have DSC this step can be skipped.
Step 2: Apply for DIN (Director Identification Number)
Anyone who wants to be a director in a company has to apply for DIN if he doesn’t have one already. One DIN can be used to become a director in any number of companies. It can be obtained either by filing DIR-3 or directly through SPICe at the time of incorporation.
Step 3: Apply for Name Approval
Names can be submitted for approval through Name Approval form or together with SPICe (INC-32) at the time of incorporation. If Name is not approved in first chance then you can file for resubmission or file SPICe form again. This whole process takes 2-3 days. Please note that DSC and DIN shall not berequired for filling of Name Approval form for reservation of name. Only MCA Account is mandatory.
Step 4: Form SPICe (INC-32)
Complete the application in INC-32 after getting it digitally attested from a Chartered Account or a com-pany Secretary or an Advocate in practise.
Step 5: e-MoA(INC-33) and e-AoA (INC-34)
Before introduction of SPICe these forms were required to filed physically but now they can be filed online at MCA portal along with SPICe ( INC-32). These forms must be digitally signed by subscriber to MOA and AOA. If all the details are duly filled and all the requisite documents are attached the registrar will issue a certificate of Incorporation and CIN (Corporate Identity Number) will be allotted to the company.
Step 6: PAN and TAN Application
Once you receive the certificate of Incorporation apply for PAN and TAN as they would be required for opening a bank account. You can also apply for the same along with INC-32 at the time of incorporation.