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More about Private Limited Company incorporation

Why should you opt for a Private Limited Company?

  • Limited Liability to Shareholders
  • Segregation in shareholders and executors of the company
  • Best structure to raise equity funding
  • Allows Foreigners and NRIs to be a Director
  • Allows to offer Stock Options (ESOPs) to employees
  • Increases credibility

Requirements to start a Private Limited Company

  • At least 2 shareholders – maximum of 200
  • At least 1 shareholder must be a resident in India
  • At least 2 Directors – maximum of 15
  • At least 1 Director must be a resident in India
  • Director can be a Shareholder
  • Authorized capital of minimum INR 1 Lakh
  • Minimum paid up capital can be any amount up to the authorized capital

Process Flow

Timeline 10-15 working days
  • Raise a request with us, discussion with Wazzeer team, share basic information
  • Review proposal and hire
  • Share details and documents
  • Generation of DSC & DIN
  • Name application filing
  • Drafting of MoA & AoA
  • Incorporation filing with RoC

Required Documents

  • PAN copy of all Indian Directors and Shareholders of the Company
    • For Indian Directors and shareholders:
      If the document is in any other language apart from English it should be translated by the registered Translator.
  • Address Proof copy of all the Directors and Shareholders of the Company
    • For Indian Directors and shareholders:
      Any of Adhaar copy, Driving license copy, Passport copy, Bank statement, rental agreement
    • For foreign directors and shareholder:
      Any Valid Address proof issued by the home country's Govt., like Driving License, ID card etc.
      This document should be Notarised and apostilled/ Legalised
      If the document is in any other language apart from English it should be translated by the registered Translator
  • Proof of Address of Place of Business (Any of Rent Agreement, Absolute Sale deed supported with any of the utility bills like electricity bill or gas bill)
  • No objection certificate from the landlord for the registered office

Key Deliverables

  • Digital signatures (DSC)
  • DIN Approval Letter
  • Name Approval Letter
  • MoA
  • AoA
  • Certificate of Incorporation
  • PAN of the company
  • TAN of the company

Why choose Wazzeer?

  • One platform for all your requirements

    Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.

  • Experienced professionals

    Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.

  • Defined process

    Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.

  • Cost Effective

    You pay what you see in the proposal. No surprises or hidden charges.

Frequently Asked Questions

Yes, you can show your own residential or rented home address as the registered office address of the Company. If you take a place for rent, and the bills are in the owner’s name, a ‘No Objection Certificate’ is required from the owner of the property.
Director: Any Individual over 18 years of age - Indian, NRI, Foreigner, Resident in India (May or may not be shareholder in the company). At least one of the Directors must be a resident in India.
Shareholder: Any Individual over 18 years of age, Any body corporate (PLC, LLP, OPC, Public Company, Foreign Company, Trust, etc.). At least one of the shareholders must be a resident in India.
The term 'resident in India' means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
A private limited company must have at least two directors and shareholders, and can have a maximum of 15 directors and 200 shareholders. The directors and shareholders can be same or different people.
At least one of the Directors show be a Resident in India.
No, the complete process can be carried online. Wazzeer has developed Standard Operating Processes that seamlessly delivers Business Registration 100% online. We might need you sign a few documents and courier the hard copies.
Broadly, the name has three components:
  • Unique component: This is the prime name of your company. It should be unique, not already been trademarked, and should not contain phrases and words that are blacklisted by the RBI. Even if a name meets the these criteria, the RoC might reject the name application on grounds of it being similar to already existing names.
  • Description of business: There should be a word or phrase which follow the Unique Component of the name which describes or indicates the main business of the Company. Some of the popular descriptive words are Technology/ies, Internet of Things, Chemicals, Builders, etc. The words bank, exchange and stock exchange, unless approved by RBI or SEBI, would also be rejected.
  • Suffix: A Private Limited Company should Compulsorily have a Suffix Private Limited (Pvt. Ltd.). A Limited Liability Partnership Firm will have a suffix LLP and an One Person Company will have a suffix (OPC) Private Limited

Things to keep in mind while selecting the unique component of the name:
  • It must be short and simple: The name must be concise and not be too long. People should be able to say it easily and they should be able to recollect your company’s name the first time they read it or hear it
  • It must be meaningful: The name of the company should be related to the business. It must fit the company’s branding.
  • It must be unique: The name of the company mustn’t be the same or identical to an already existing company or a trademark. One must preferably avoid the plural version
With the amendments to the Companies Act in 2015, there is no prescribed minimum paid up capital amount. You can choose how much do you want to start your company with and go up to a maximum of the Authorised Share Capital (again decided by you). However, as a general practice, most entrepreneurs start the company with a paid up capital of Rs 1 lakh.
The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. No person can be appointed as a Director without DIN and having duplicate DIN is an offence. DSC to be PAN encrypted as going forward, all filings relating to Income Tax has to be done by a director who’s DSC is PAN encrypted.
Director Identification Number (DIN) is a mandatory document for all directors (or proposed directors) of a company. It is an 8-digit Unique Identification Number allotted to all directors. This is issued by Central Government and has lifetime validity.
Yes, a private limited company must appoint an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation.
Memorandum of association is a document that regulates a company's external activities and must be drawn up on the formation of a registered or incorporated. As the company's charter, it (together with the company's articles of association) forms the company's constitution. Article of Association is a document where the articles are the regulations for the management of registered companies that governs the running of a company. It sets out the voting rights of the shareholders‟ and directors‟ meetings, powers of the management, etc.
We have covered this extensively in our blog. You can access that here.

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