Private Limited Company Registration In Mumbai

What is a Private Limited Company?

A private limited company is one of the most popular business formats. In Mumbai alone, many private limited companies have been registered across a wide variety of industries. The state of Maharashtra registers the maximum number of Companies in India, of which the city of Mumbai contributes to more than 70%

Types of Private Limited Companies

On the  basis of formation, private limited companies can be classified as below

1. Company Limited by Shares: This is the most widely adapted form of Private limited company.Here the share capital is clearly stated in the memorandum of association. The members liability is limited to the value of unpaid amount of the called share capital if any
2. Company Limited by Guarantee: Here the members stand guarantee to the liability of the company and their liability to third parties is limited to such amount of guarantee
3. Unlimited Companies: Here the members of the companies have unlimited liability towards third party claims , this means in case of losses or liabilities over and above companies resources , the members will have to personally settle the same.

Benefits of a Private Limited Company

Now lets have a look into the advantages of registering a private limited company in Mumbai

1. Limited Liability: The most lucrative feature of a private limited company is it offers the benefit of limited liability. This in simple words means members of the company will not be held liable for the business obligations of the company. This offers protection to the personal assets of the shareholders
2. Perpetual Succession: As the maxim goes, men may come and men may go, but the company goes on forever. Being a separate legal entity a Company has perpetual existence. It can go on with its operation till wound up by law
3. Capital Acquisition & Credibility: A private limited company enjoys the benefit of acceptance and credibility. It is an ideal business structure for  entities who want to scale up their operations and attract investors
4. Tax Benefits: The present income tax regime offers several leniencies to private limited companies: Tax rates range between 15 % to 30% depending on operations and some conditions

Requirements for Registering a Company in India

Registering a private limited company in Mumbai is a quick and simple process. To do the same ensure the following requirements are met

1. Directors and Members: A minimum of two directors and shareholders are required for registering a private limited company
2. Company Name: The name must comply with the restrictions placed by the Companies Act and Rules there under.
3. Address of the Registered Office: A physical location in India is mandatory for forming a private limited company. This serve as the Registered Office of the Company and is the location where all correspondence shall be intimated. A private limited company can then maintain as many branches as required for its operations

Process of Company Registration in Mumbai 

Private Limited Company Registration is a seamless and hassle free process , once it is entrusted with our expert team. Here is an overview of the process

Step 1: Obtaining Digital Signature Certificates (DSCs)

As per the provisions of the Companies Act and applicable rules, every person acting as a director of a company must hold a valid DSC. Moreover all Forms are processed online now, and digital signature is a mandatory requirement for signing

Step 2: Applying for Director Identification Number (DIN)

Obtaining a DIN is a prerequisite for joining a company as a director

Step 3: Securing a Unique and Compliant OPC Name

Choose the right identity for your business by ensuring your OPC name is unique and compliant with the prevailing rules. Ensure it does not cause any Trademark objection

Step 4: Keep ready  Essential Documents for Registration

Collect necessary documents such as:

1. Director’s Identity and Address Proof
2. Proof of Registered Office Address
3. Prepare Memorandum of Association (MoA) and Articles of Association (AoA)

Step 5: Submitting the completed Incorporation Forms with the Ministry of Corporate Affairs (MCA)

Step 6: Acquiring the Certificate of Incorporation From MCA/ ROC -Mumbai

Cost Involved in Private Limited (Pvt Ltd) Company Registration In Mumbai

We at Clearbiz believe in a No Surprises Policy. Once we have an in-depth discussion with the client, we provide a detailed professional fee quote. Only if the client approves we move forward. We focus on providing affordable business solutions to act as an enabler for your business