FAQ's
How many days are needed for establishing a private limited company in India?
If all the documents as mandated by the Regulator, it will take around 15 business days
How much does it cost to start and run a private limited company?
It can be divided into four parts: money needed to set up a private limited company, for accounting and auditing and for compliance and miscellaneous expenses. Approximately, a minimum of Rs. 40,000 is needed and a maximum of any extent depending on the business.
What is DSC?
The DSC is nothing but a Digital Signature Certificate issued by the Government authorised certifying authorities. With the help of the Certificate, you can sign electronic documents. DSC is mandatory to start up a Private Limited company in India.
Can Foreign Nationals or NRIs become Director in a Private Limited Company?
Yes, NRIs or Foreign National can become Directors of a Private Limited Company and they can also be a majority shareholder of the company. But importantly at least one Director on the Board of Directors of the company should be an Indian Resident and he should be residing in india for atleast 120 days in the respective financial year
What is the Director Identification Number or DIN?
Director Identification Number is a unique number issued by the Ministry of Corporate Affairs to applicants on whose name the application is produced, which permits the individual to be a Director in the Company.
Can I have a registered place for the company at the residential place?
Yes, you can have a registered place of a Private Company at a commercial and also in a residential place by submitting the sufficient proof. A registered office of a company is a place where the business gets all the official communication, like from the MCA or from any concerned authorities and also the address will be displayed at the Master data portal of the Ministry as well
What is the Annual Compliance required to be fulfilled by a Private Company?
During every financial year, the private limited company must hold one Annual General Meeting (AGM) and about 4 board meetings such as once in every quarter. Further, financial statements and the accounts of the company must be audited by an independent auditor regularly. Later, it shall file form AOC – 4 and MGT – 7 for Annual Compliance within the given time.
Can Private limited Company issue equity or shares to the general public?
No, a Private Limited Company issue float equity or shares to the general public as the formation is meant to be closely held
What is meant by Contribution in LLP?
The Contribution in LLP means the share of the partners in the form of money, promissory notes, tangible or intangible property, agreements, movable or immovable assets to the Company,
How many days are required to complete the registering process of a limited liability partnership firm in India?
Generally, it takes around 15 working days for the registration process of a limited liability partnership firm in India.
How many partners are required to register LLP?
As per the LLP Act, 2008, a minimum of two partners is needed to register an LLP.
Who can become a partner in a limited liability partnership firm?
Any individuals, company or foreign national can become a partner in an LLP
What are the rules to be considered while selecting the name of a Limited liability Company in India?
The name of a Limited Liability Company should be unique and applicable to the service which your LLP is providing. The selected name must not be generic and similar to any other existing name
