Private Limited Company Registration: What All Is Required? | Kuchvi.in

A private limited company is a company which is owned privately by small businesses. The members hold a liability which is limited to the number of shares they are holding. Moreover, the shares held by them cannot be traded publically.

Advantages of a Private Limited Company

• The ownership and regulation of the shares can be sold to the person whom the owner chooses to transfer them. Shares are therefore owned by a group of private investors, founders and the management. It becomes to handle the complexities and the management.
• Private companies are free of all the legal formalities
• Private companies do not face compulsions on not disclosing the information and so on
• Private limited companies can manage the operations easily
• The managers of the private limited company are flexible in working and are able to take effective short and long-term business decisions
• You don’t have to worry about the shares or the stock-market condition with the private limited companies
• Confidential data including legal settlements, compensation and other vital information is kept secure in a private limited company.

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Requirements for the Registration Process

• As per the Companies Act 2013, a minimum number of two or 200 shareholders or the members are required for a successful registration
• At least two of directors is required for the registration. Moreover, every director should have DIN (director identification number) which the ministry of corporate affairs provides. One of the directors should be a resident of India or should have stayed in India for not less than 182 days in a previous calendar year
• It is mandatory for every company to use the word ‘private’ at the end of the name. Every company should get an approval from the registrar before deciding on any name for the company. Choosing the right name for the company is thought necessary