Minimum Requirements For Company Registration
If you are planning to register your Business as a Private Limited Company in Mumbai, you will have to fulfill the following requirements.
- Businesses must have at least two directors, and the maximum number of directors can be 15
- Out of the total number of directors, at least one Director should be an Indian resident.
- A private Limited Company should have at least two shareholders. The upper limit of shareholders is capped at 200.
- Any individual or legal entity can be a shareholder in a Private Limited Company.
- If you are applying for a Private Limited Company Registration in Mumbai, you must have a registered office in India.
- Any Business applying for a Private Limited Registration should have the share capital of at least 1 lac.
Company Registration Procedure In Mumbai
Now let us understand the company registration procedure in Mumbai.
- Obtain DSC (Digital Signature Certificate)Digital Signature Certificate or DSC, is a signature of any entity in the Digital form. It contains encrypted identification information of the concerned entity. It is used to verify Government Documents
- Obtain DINDirector Identification Number or DIN is a unique number that is allocated to an existing to potential Director of the company. This DIN is distinctive to each Director and contains information about the position, role and responsibility of the Director in the present and past companies.
- Selecting the nameAs per the Company’s Act 2013, a business applying for a Private Limited Registration must have a legal name. The application for selecting the name can be made at the online platform SPICE+. The name of any Private Ltd company must have three parts, viz. The Name Part: A unique name that follows the guidelines in the Companies Act, 2013 The Object Part: A part where the nature of Business is mentioned Constitution Part: This part defines the type of the Business.
- Memorandum of associationMemorandum of association or MOA is a written deed that describes the scope and potential operations of the applicant Business.
- Article of AssociationArticle of association or AOA is the manner in which the business operation of the applicant will be conducted. Apart from this, it includes the rights and duties of the company.
- Application for PANOnce the process mentioned above is complete, the Business will have to apply for Permanent Account Number or PAN.
- Application for TANLater the Business will have to apply and obtain Tax Account Number or TAN
Benefits Of Company Registration In Mumbai
Company registration in Mumbai can help your business in multiple ways. Let’s take a look at these benefits:
- A Private Limited registration gives your Business a legal status and a separate legal identity. This limits the liabilities of the shareholders.
- To establish a Pvt Ltd Company, you need only two directors, so the process is easy.
- Obtaining funds for Pvt Ltd Company from banks, venture capitalists, and other financial institutions is easy.
- The Pvt Ltd Company has the benefit of “Perpetual existence”. This means, even in case of death or disability of any member to discharge his/her duties, the company can function as usual.
- The Directors are allowed to participate in the Board meetings in the matter relating to them.
- The legal liability of any shareholder is directly related to the number of shares they hold.
- The shares of a Pvt Ltd Company can be easily transferred as compared to Proprietorship and Partnership firms.
- Pvt Ltd Compay has its own existence. This allows it to acquire and own any property in its own name.
- For a Pvt Ltd Company, a shareholder can be an employee, creditor or director at the same time.
- In a Pvt Ltd Company, there is no restriction on the buyback of the shares of the same company.
- Pvt Ltd company registration in Mumbai improves the Brand Value of your Business.
Documents necessary for Registering a Pvt Ltd Company
Document for Shareholders & Directors
- Copy of Adhaar Card
- Copy of PAN Card
- Latest Passport size photograph
- Copy of a voter ID, License or Passport
- Bank Statement of the last two months
- Notarized utility bill of NRI or foreign national.
Documents for Address proof of the registered Business Place
- Rent agreement or Lease agreement if the premises is rented or leased
- Copy of NOC from the owner
- Copy of utility bill
- If the premises are owned, proof of the ownership.
How To Register Company At Our Mumbai Office
As discussed above, the process of Company registration involves a lot of formalities. If you are doing it on your own, it might consume a lot of your time and resources. Instead, you can opt to register your business through us. It is very simple to register Company at Our Mumbai Office. All you have to do is share your business details with us, and that’s it! Our team will handle all the other tasks. Apart from delivering top-notch services, our team will also provide a guiding hand to you throughout the process to assist you. So, ditch the hassles and visit our office for simple and easy business registration.
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