Call Our Pvt Ltd Consultants +91 7299972500 . We are here to provide services of Incorporation Of A Private Limited Company In India. Private limited company in India is considered as one of the most viable options to set-up business in India today. India has now become one of the fast-growing destinations for businesses and the corporate sector in the world due to its favorable legal atmosphere, cheap labor, inexpensive cost of the property, liberalization of trade, and many other conducive factors. Private limited company incorporation in India offers various attractive benefits to foreign investors like – low capital requirement, easy registration process, easy functioning of the management, exemption from some of the cumbersome formalities like stamp duty and other indirect taxes, exemption from some of the requirements like income tax, stamp duty value addition, income tax return filing, etc.
The entry of a Private Limited Company in India has become easier due to the reformed laws of the country. Earlier, the Indian Companies Act permitted limited liability company formation. However, the recently passed laws have changed all that. Now, even a private limited company needs to register itself under the Companies Act 2013. To know the regulations for this purpose, an Overview of Company Formation in India is given below:
Company Formation in India – How To Form a Company In India?
There are different approaches to company formation in India. These include registered office system and non-registered office system. In India, it is important to comply with the local laws of the place of business. After registration of the company, the next step is to open a registered office at which all the official mails will be dispatched to the concerned person.
Registration Of Business Name
The company name needs to be registered before functioning. This process needs to be completed at the state level as well as at the national level. Registered offices of the company should be located in places where the business will operate. At the state level, a company needs to file its Articles of Association along with the statutory declaration of its status.
Accessibility of Public Company Offices
Limited liability companies are not allowed to have their own branches or offices. A registered office can be used to access the official business records at any time. The limited company can make use of the address of the registered office of the company. In case, the business is established at the national level, then a bank facility may be available for storing the official documents.
Corporate Structure of a Company Registration
There are many types of businesses that can be incorporated in India. The limited company formation in India has some similarities with the international format of company formation. However, in the case of a limited company in India, the company formation needs to follow certain guidelines. For instance, a nominee director will be mentioned in the Articles of Association of the company. It is important to note that the nominee director does not have the power to direct the business.
Transfer of Control of the Company
All the powers of the management of the company are transferred to the owner after it becomes a public company. Thus, there is a transfer of management control of the company at any time. The power to issue shares is also transferred to the shareholders of the company. However, the shareholders will not enjoy the right to vote. As a result, all the shareholders of the company have no share ownership.
Contact our Company Formation Consultants in Chennai India
It is very easy to start your company in India. We are here to support you at all times. Private limited company registration in India offers the best opportunity to Indian businessmen to capitalize on the enormous potential of the Indian economy.
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