A Private Limited Company is highly recommended option to start a business in India by startups. The incorporation of private company takes place under the Companies Act of 2013, and it is governed by the Ministry of Corporate Affairs (MCA). A Private Limited Company offers limited liability for its shareholders with certain restrictions placed on the ownership. A person at a same time can become both a director and shareholder in a Private Limited Company.
It is a corporate structure that is registered and which provides business a separate legal identity from its owners. A Private Limited Company in India falls between a partnership firm and a widely owned public company. An LLP has partners, who own and runs the business whereas in private limited company registration, directors may be different from shareholders which means that management and owner may or may not be the same person.
To start a private limited company, the minimum number of members required are two and maximum is allowed upto two hundred as per Companies Act, 2013. The minimum 2 directors are required and maximum 15 directors can be appointed in a private limited company.
The liability of the members of a Private Limited Company (PLC) is restricted to the number of shares held by them. A private limited company can starts its business once it obtains certificate of incorporation and certificate of commencement of business. The process of registration of company can be completed within 10-15 business working days.
Quickbiz Filing is efficient business platform which helps in incorporation of company, compliance, advisory and consultancy services. Quickbiz Filing employs qualified company secretaries and chartered accountants which provides timely delivery of services to its customer. The process of Private Limited Company incorporation & registration is easy, cheap and quick at quickbizfiling.com. You may get in touch with our compliance manager on 9106657573 or email firstname.lastname@example.org for free consultation.