What do you mean by Private Limited Company?
Private limited company means: to start Pvt ltd Incorporation in Jayanagar minimum 2person and maximum 200 and they don’t issue public shares and PVT ltd should be added at the end the company name
Characteristics of Private Limited Company
- Members: To run the business/company minimum number of 2 is required and the maximum number of 200 members as per the companies act 2013
- Limited Liability: The liability of the shareholders are limited
- Index of members: In private limited company index is not required compared to public companies
- Perpetual Succession: Even in case of death, insolvency, bankrupt of any of its members, This leads to a perpetual succession of the business/company and the life of the business keeps on existing forever
- Number of directors: the private company needs only two directors with them the only company can exist/run
- Paid-up capital: there should be a minimum paid-up capital of Rs 1 lakh
- Prospectus: In the case of a private limited company there is no such need to issue a prospectus because in Pvt ltd company they won’t invite the public to subscribe for the shares of the company
- Name: It is compulsory /mandatory for all the private limited company to use the word private limited after its name
Procedure to get registers for Pvt ltd registration consultants in Jayanagar
First, they have applied for DSC (Digital Signature Certificate) and DIN (Director Identification Number)
- And they should apply for name
- They should file the MOA and AOA to register a private ltd company
- Apply for TAN and PAN of the company
- Certificate of incorporation will be issued by Roc with PAN and TAN
- Should have a current bank account on the company name
Advantages of the company
*limited liability: as company owners are not legally forced to pay outstanding company debts and it protects the personal assets of the person
*Professional status: A limited company is usually seen more professional operation than the unincorporated sole trader
*Protect your business name: when you register your company name in the registered office you are protected and other businesses/companies cannot use the name or logo this will protect your business
*Raising capital: you can raise your capital by issuing shares to the public and that can improve or grow your company capital investment in business
What are the disadvantages of private ltd companies?
*Legal requirements: There are required lots of requirements such as completing/maintaining annual accounts in business/company
*Getting paid: like a sole trader who takes his money out of his business without any permission/restriction but not in private ltd company it is more complicated he has to make legally transfer of money to him in the form of salary he doesn’t have rights to use company money/income for his personals use
*Setting up and closure: starting a private limited company in simple form but you need to register with the registered office and to inform HMRC and have to pay some certain amount/ fees.
How to get Private limited company registration in Jayanagar
You are at the right place, called consultry where you can register your company Pvt ltd Incorporation in Jayanagar and consultry is one of the top company in Bangalore and consultry are providing best online services to the client
