What Finology Offers:

We will take all the required documents
Advice you in choosing the best name
File all required forms on your behalf

What is a Private Limited Company?

When we think of start-ups, we think about a Private Limited Company. It is the most prevalent and popular type of entity that a person can form to do business in India. Unlike a traditional business i.e. proprietorship or partnership firm, a private limited company is considered a separate legal entity and hence, the liability of its owners is limited to the number of shares held by them. This limitation on liability separates the business from the owners and in case if the business fails, the loss or liability is limited to the holdings of the company. Apart from having limited liability, there are many other benefits too such as perpetual succession, lesser income tax liability than individuals and partnership firms, benefits offered under the Start-up India Policy, etc. 

Minimum Requirements to set-up Pvt Ltd Company

  • Minimum 2 shareholders
  • Minimum 2 directors (shareholders can also become directors)
  • Minimum Authorized share capital should be Rs 1 lacs.

Steps involved in incorporation of Pvt Ltd company

  • The first step is to reserve the desired name for the company. Here, 2 preferred names are submitted in the prescribed form and on approval one of them is reserved for the applicant for a period of 20 days. In the mean while, we will collect all the documents from you.
  • Next step is applying for DSC.
  • Once DSC is ready, form for incorporation of the company can be filed with the MCA. So, a thorough check of all the required documents is done before filing of the form so any deficiency or irregularity can be dealt with beforehand. 
  • The final step is filing of the SPICE form for registration along with the documents prepared. 

What we need from you?

  • Proof of Address for office.
  • Affidavit and declaration in the name of first subscribers and directors.
  • Utility bills not older than two months.
  • Approval letter from the government if the proposed contains any word(s) that require prior approval. 
  • If the proposed name is a registered trademark or has been applied for trademark registration, trademark certificate or application as applicable along with NOC from the proprietor of the mark shall be submitted.
  • Address and Id proof of the members

Advantages of a Pvt Ltd Co.

  • A company has its identity different from its members. It legally separates them.
  • A separate entity will ensure perpetual succession and will limit the liability of its members to the number of shares held by them.
  • A domestic company having gross receipts up-to 50 crore enjoys lower tax rates (25%) in compared to individuals and partnership firms (30%) 
  • A newly incorporated private limited company, on fulfilment of certain conditions can enjoy various governmental incentives like start up India action plan, etc.

Timeline

  • Time required for obtaining DSC- 1-2 days.
  • Simultaneously, we can reserve a name for the company. This may take up to 7 working days.
  • Time required for filing of form- 1 to 2 days.

Package Details

Advantages of Choosing Finology

Quick & Efficient

Utmost attention given to details. Ready to use templates. Saves time. Minimizes costs.

Convenient & Transparent

Access to requisite information at any time of the day. Just a click away.

End-to-End hand-holding

Client communication at the core. Professional and efficient handling of client's information because a happy client is the best referrer.