There is a minimum of two shareholders required to start a Private Limited Company and the number can extend maximum from fifty to two hundred beyond which is not permitted.
A minimum of two directors are required to establish a private limited company and the maximum amount cannot exceed beyond fifteen.
The minimum authorized capital to start should be Rs. 100,000(US $2250 approx) and it can be increased to any amount(no upper limit). This money is deposited in your company bank account at your disposal.
For the proper execution of the idea choosing the right form of business is important and for start-ups Private Limited is the best option for the following reasons:
With New form INC 29 the total time to register a Private Limited company is 10-20 working days.
Yes, the company incorporation process is online. You can email / upload us the required documents.
Yes, an NRI or Foreign National can be a Director in a Private Limited Company after obtaining Director Identification Number. However, atleast, one Director on the Board of Directors must be a Resident India.
The documents requirements are as follows
Yes, a salaried person become the director in private limited company, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
No You can open a company to your residential address there is no requirement to have a commercial place to open up a company
For Registered Office Address
No, LLP cannot be converted to a Private Limited Company as it is not permissible by the government of India. Both the LLP Act, 2008 and the Companies Act,2013 are silent about the matter and haven't done any amendments on the same. However, if you want to expand your business you can register a Private Limited Company with INC-29 which has simplified the process of registration..
First ensure that company name is not similar to any other Private Limited,OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark taken by anybody under the IP Act.
Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.
While choosing the name make sure that name should contain the objective of the business like if the objective is I then word is Technology, Technosoft, IT consultancy.