A Private Limited Company is a privately run business that is one of the most popular ways to start a business in India. Private limited company registration in India is governed by the Companies Act 2013.
As per Section 2(68) of the Act of 2013, a private company is one that has a minimum paid-up capital and an article that restricts the right to transfer its shares, except in the case of a One Person Company. Reach Today!
According to the 2013 Act, a private company must have a minimum of two members and a maximum of 200 members. If a private limited company faces financial difficulties, its shareholders are not required to sell their personal assets, implying that they should have limited liability.
A private limited company exists indefinitely. A private limited company continues to exist even if its members die or go bankrupt.
A minimum of two directors are required for online company registration, with a maximum of 15 directors appointed in a company. The proposed director must be at least 18 years old.
A foreign national can also become a director of an Indian private limited company. There is no minimum paid-up capital required for the formation of a private limited company. Every private limited company must end their name with “Pvt.Ltd.”
The private limited company has no relationship with the public; they are not permitted to request collateral from the public or public sectors. Individuals are not obligated to transfer shares in a private limited company, which protects private limited company takeovers from large corporations.Get your Private Limited company Registration in Bangalore today by Applying here
Choosing the right business structure for your company is important. You can choose between the different types of structures such as Sole Proprietorship, Partnership, Limited Liability Partnership, Public Limited Company and LLP. Each of these has its own compliances and tax implications. You should always reach a good Company Consultant or Company Secretary to guide the right platform.