1. What is Private Limited Company?
Private Limited Company registration is the most popular legal structure option for businesses in India. A private limited company can have a minimum of two members. The directors of a private limited company have limited liability to creditors. In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors. If you want to start a company in India then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company as a registered company have multiple advantages from easy to register to easy to dissolve.
3. Is it necessary to have 2 directors for Private Limited Company Registration? Is How Do I Get Started?
Yes, you need a minimum of two directors for a private limited company. The maximum members can be 200. If you are the sole owner, you can register as a One Person Company.
5. For incorporation of private limited company do I have to be present in person?
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail. They get the company incorporation certificate from MCA via courier at their business address.
7. Can NRIs/Foreign Nationals become a Director in
Private Limited Company?
Yes, an NRI or Foreign National can become a Director in a Private Limited Company. They can get a DPIN from Indian ROC. Also, they can be a majority shareholder in the company. But, at least one Director on the Board of Directors must be an Indian Resident.
9. Why A Private Limited Company Is Called A Separate Legal Entity?
A Company Is A Legal Entity And A Different Person Established Under The Act. A Company Is Treated As A Different Person Which Can Own Property And Have Creditors Or Debts. The Members (Shareholders/Directors) Of A Company Will Have No Liability To Creditors Of A Company In Case The Company Is Unable To Pay The Debts.
2. Who can be a member in Private Limited Company?
Any individual/organization can become the member of the private limited company including foreigners/NRI. However, the individual must 18+ above in terms of age and should have a valid PAN card.
4. What is the time taken by Vitlekha.com in forming a Private Limited Company?
Vitlekha.com can incorporate a Private Limited Company within 15-25 days. The time took also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents prior to starting the registration process.
6. What if I have only one director for my Private
Well, you can get someone from your family or friend circle as the second direction and give them marginal share, e.g, 0.01%. You also have the option to register a One person company, but it will not be possible to add directors in OPC later.
8. Can a salaried working person also become director of a private limited Company?
Yes, you as a salaried person can become the director in private limited, LLP or OPC private limited company. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.