A private limited company has a vast array of benefits. This is the reason this structure of companies are becoming more popular and prevalent from time to time. You can have limited liabilities when you are the director of a private limited company. This is an amazing benefit that you can avail from the private limited company. A private limited company is also considered as a separate legal entity and deemed as a juristic person. Hence it can sue and get sued on its name. Due to the fact that a private limited company is a juristic person it can also purchase a property by its name. However, the most significant benefit that you can avail from a private limited company is that it has a continued existence. This means that on the death or resignation of the director of the company, it gets incorporated and is not shut down. Hence the working process continues in a manner of regularity. Here are a few steps and details as to how you can incorporate your private limited company.
Documents Required for the Incorporation of a Private Limited Company
1) Address Proof – The proof of address of the past director of the organization is necessary. For example, it tends to be a driving permit, voter’s ID, Aadhar card, or some other such address proof of that individual.
2) Residential Proof – This is any of the service or utility bills of the director of the organization. It can be a water bill or power bill, or some other such service bills will work for this situation.
3) Passport – The passport is basic when the executive of the organization is a national of another country. At the point when the director is a foreign national, they have to give a duplicate of their passport.
4) Registered Office Proof – The workplace evidence of the organization is required for the procedure of incorporation. The confirmation of the lease or the purchase of the workplace premises is required for the incorporation procedure.
5) GST Registration Documents – This is another document required for the incorporation of the organization. The GST enrollment is required for any organization, and this resembles a double check for the organization.
6) Dissolution Reason of Previous Director – If the individual is dead, at that point the death certificate of the individual is likewise to be given. For some other reason, a letter is to be given.
7) PAN Card Details – The PAN card subtleties of the organization is likewise essential. In that circumstance, the PAN card subtleties of the organization are additionally required for the incorporation of the organization.
Steps to Incorporate Your Private Limited Company
There are four major steps in the process of incorporation of a private limited company. Here are the four steps explained in details.
1) Digital Signature Certificate – This is the first step in the process of incorporation of any private limited company. You would require photographs of the applicant, the address proof as well as the PAN card details of the person.
2) Director Identification Number – You also need to know how to register a company when you are incorporating a private limited company. The director identification number is what comes next, and this is a unique number assigned by the Ministry of Corporate Affairs.
3) Reservation of Name – The reservation of the name is another step in the incorporation process. This is how you get the name of the company. It has to be unique and should not be similar to any other company names.
4) Certificate of Incorporation – The last but the most important step is the certification of the incorporation. For this, you have to submit the Simplified Proforma for Incorporating Company Electronically.
These are all the steps that you need to take to incorporate a private limited company. This is a straightforward process and helps in several ways.