Private limited Company registration

1. Private Limited company registration in Kochi -Kaloor Private limited company registration in Kochi is done privately with limited number of shareholders. The owner’s liability to the shares is limited. When liability is limited to the shares of course in case of any financial loss to the company, the shareholders no need to take risk of owing their assets to loss. Unlike OPC the shareholder in Private limited can be up to 50 and minimum two Directors are needed Private Limited company registration in Kochi is governed by Companies Act 2013. It has special status in the eyes of the law. Many start-ups prefer this private limited company because the growth is stable and steady. Tax exemptions are available for private limited companies. As known earlier One Person Company, Limited Liability Partnership and some of the types of the Private limited company. It operates as a distinct legal entity. Profit sharing is not a concept in private limited company.

2. Private Limited company registration in Kochi-Process Setting up the business is straightforward. The Private limited company registration in Kochi explains how a Private limited company can be registered. Initially the DSC (Digital Signature Certificate) and DIN (Digital Identity Number) must be obtained. DSC is always required if you choose not to sign the documents physically. This is time efficient work done by DSC. DIN is obtained from proposed Director in a private limited company. Then suitable name should be selected. The main consideration is the name should not be similar to existing names. So as to avoid any legal issues with similarity found the name must be ‘unique’. And also The Private limited company registration in Kochi ensures whether the selected name must have prefix of ‘Pvt.Ltd’.

3. Filing for private company The next step is for filing for incorporation of private limited. Thereafter documents must be submitted for incorporation of the private limited company. A declaration statement about requirements should be given and also the declaration must be signed by the attorney or the Supreme Court advocate or charted accountant who is fully known about the company. The private limited company must be subscribed at least to one share. Then certificate of Incorporation is issued.

4. Documents Required for Registration Private limited company registration in Kochi says what are all the documents needed for the above said registration process. Firstly for Director or the shareholder one photograph, copy of PAN card, copy of address proof or Aadhar card or vote id or passport must be given. And also copy of bank statement or copy of telephone bill is given. Articles of Association, Memorandum of Association, Declaration and affidavit of the Directors should be submitted. The Private limited company registration in Kochi explains AOA and MOA. Article of Association (AOA) - gives regulation and purpose of the company. Memorandum of Association (MOA) – it is legal document which describes relationship with shareholder. The registration process is complete with ten to fifteen business days.

5. Documents for registration Then the documents for company address will be given. They are utility bills like electricity bill, telephone or gas bill is given. If it is rented then rental agreement documents and sales deed is given. And also NOC is submitted. NOC is No Objection Certificate. For NRI person to start the private limited company, copy of the passport, any ID proof like Driving license and address proof of the home country should be submitted. The Private limited company registration in Kochi ensures whether they are submitted.

6. Features of Private limited Company Registration The Private limited company registration in Kochi states few of the characteristic features. They are at least four board meeting s should be held; one in each quarter. And the gap between two meetings should not be more than 120 days. AGM the Annual General Meeting should be done within six months from closure of the Account. The Private limited company registration in Kochi gives an idea that private limited company can be converted into LLP or into a public limited company. When the company has no security interest in its assets at time of application. Relating to conversion the documents should be submitted. The debt, liabilities and obligations shall not be affected due to this conversion.

7. Features.. Private limited companies contribute to the growth of the economy. And also the small group of people can start up and their efficiency helps in the growth. Their credibility increase when it is being registered. Tax advantages become possible in private limited companies. The Private limited company registration in Kochi states even after the demise of the Director then a successor can take over the charge. NRI can come to India and form Private limited company with small group of people because the law associated with Private Limited Company paves the way for it. Also Private limited companies have very good branding of stakeholders or vendors. So people will setup the mind-set that if you are managing a private limited company then you are very serious about it and will not run away overnight.

8. Rules of Private Company registration One cannot expect the capital to be much when you compare it with public limited company. The shares cannot be sold out to the public. The Private limited company registration in Kochi explains the shares cannot be transferred to the others without the consent of the shareholders. The Private limited company registration in Kochi explains that one has to seek for another person to accompany in the formation of private limited company unlike One Person Company. And also it cannot be listed in stock exchange. The dissolution of private limited company is time consuming. To access financial support it is comparatively difficult with public companies. The Private limited company registration in Kochi warns if any one of the shareholders is likely to be involved in illegal activities then it will be suspended.

9. Conclusion The Private limited company registration in Kochi states that the Investors are keen on investing in Private limited Company. Since it is flexible and scalable nature the shares like equity share can be issued to different people. Greater remuneration is also paid to the Directors. The private limited company helps in fund raising. Private limited company increases trust and credibility. Thus the private limited company has some economic and social responsibility in a nation.