Private Limited Company Registration in Chennai

Solubilis offers Private Limited Company registration in Chennai, including Bangalore, Hyderabad, and Cochin. Private Limited Companies are a common business structure defined under Section 2 (68) of the Companies Act 2013.
They require a minimum of 2 members (except for One Person Companies) and a maximum of 200 members. Typically, shares in private companies aren't easily transferable, and they cannot publicly offer their securities. This structure provides a balanced approach for businesses, combining the benefits of limited liability with a controlled membership structure.

Characteristics
Documents required

Characteristics of Private Limited Company:

Private limited company registration online offer several advantages:

Distinct Legal Entity: Separated from members, with legal capabilities like property ownership and borrowing.
Simplified Formation: Only two individuals are needed to establish a Private Limited Company.
Limited Shareholders: Maximum of 200 shareholders, manageable for effective management.
Limited Liability: Shareholders' personal finances are safe; they're liable only for unpaid share capital.
Owner-Friendly: Preferred by the business community for its benefits.
Perpetual Existence: The Company continues indefinitely.
Board of Directors: Managed by a minimum of two directors.
No Capital Restriction: No minimum capital requirement, offering flexibility.
Naming: The company name must include "Private Limited" for identification."

These features make online private limited company registration in Chennai a favoured choice among businesses.

Proposed director & Shareholder - Indian Citizen:

PAN Card: Provide a valid PAN card.
Aadhar Card: Include your Aadhar card.
Address Proof: For private limited company registration online, submit a recent Bank Statement, Telephone Bill, EB Bill, or Mobile Bill (not older than two months).
Passport Size Photo: Attach a passport-sized photo.

Proposed director & Shareholder - Foreign National:

Passport Copy: Include a copy of your passport, duly notarized and apostilled.
Address Proof: Private limited company registration in India needs to provide a notarized and apostilled address proof.
Nationality Proof: Submit a notarized and apostilled copy of your nationality proof.
Passport Size Photo: Attach a passport-sized photo.

Register Office documents:

Rental Office: If your office is rented, a rental agreement is mandatory.
Electricity Bill: Include an electricity bill (not older than two months).
NOC from Landlord: If you are an occupant, obtain a No Objection Certificate (NOC) from your landlord to operate the business.

These documents are crucial for a smooth process of online private limited company registration in Chennai, ensuring compliance with legal requirements.

FAQ'S

A Private Limited Company is a distinct legal entity with perpetual succession and limited liability. Shareholders are responsible only for the value of their paid-up shares, safeguarding personal assets.

Private Limited Companies offer several tax advantages for businesses. Here's a list: Pvt Ltd companies often enjoy lower corporate tax rates compared to other business structures. Shareholders' liability is limited to their investment in the company, protecting personal assets from business debts.

Certificate of Incorporation along with PAN and TAN Number
Memorandum of Association
Articles of Association

Foreign nationals and NRIs can register a private limited company in India following RBI's FDI norms, either through the Approval or Automatic route for investments.

Converting an LLP to a Private Limited Company is not allowed in India, as per government regulations. The LLP Act, 2008, and the Companies Act, 2013, don't provide provisions for such a conversion. To expand your business, consider registering a new Private Limited Company with INC-29, a simplified registration process. It's an effective way to take your business to the next level within the legal framework.

Becoming a director in a private limited company while being a salaried employee is legally permissible. However, it's crucial to review your employment agreement for any restrictions on such roles.

Authorised capital is the maximum number of equity shares a company can issue. Paid-up capital is the actual value of shares issued to shareholders. In India, there's no mandated minimum for authorized or paid-up capital to start a private limited company in India. You can increase the authorized capital even after incorporation. Paid-up capital represents the value of shares allocated to shareholders, allowing flexibility in structuring your company's finances as per business needs.

Private limited company registration in India usually takes 7-10 working days. Processing time may vary based on document submission and government approval, so the timeline can differ accordingly.

In the realm of private limited companies, there are two key types:
Private Company Limited by Guarantee:
This type doesn't have traditional shares. Instead, members commit to paying a set capital amount if the company faces liquidation.
Private Company Limited by Shares:
Here, the company has shareholders with limited liability. Its shares aren't usually available to the public. These two variations offer different structures for businesses to operate under, each with unique characteristics and purposes.

For private limited companies in India, GST isn't mandatory if the annual turnover stays below 40 lakhs for manufacturers and traders or 20 lakhs for service providers. Additionally, there shouldn't be any interstate sales, meaning sales between different states.