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Company Registration in Jaipur – Private Limited Company is one of the most renowned ways of doing business in India. Private Limited Companies are now governed by The Companies Act 2013, earlier these were governed by The Companies Act 1956. Private Limited Companies are one of the most appropriate mediums to conduct business by startups and growing entities.
There are some advantages of Private Limited Company Registration in Jaipur for your business such as Raising Funds from Investors, Limited Liability, Separate Legal Identity, and Lower Tax rates in comparison to Limited Liability Partnership and Partnership firms.
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Limited Liability: It is one of the most important factors of a Pvt. Ltd. company that saves the members from being personally affected by the fall but not the growth of the company. If the company incurs big losses, more than its assets, the owners, or the members, personal assets remain untouched. They are not required to liquidate and liquefy their personal properties to pay off the debts and losses the company makes protecting the individual investors.
Perpetual Business Entity: A Pvt. Ltd. company, once registered, is considered an individual under the law. It remains unharmed under different situations and survives unless the company is winded up following a legal procedure. It means that the status of the members does not impact the life of the business. So even if the owners pass away, go bankrupt, or have to liquefy assets, a Pvt. Ltd. company remains unaffected and continues to live till someone closes it.
Shareholders: A Pvt. Ltd. company requires as little as two shareholders for registration, unlike Public Limited which requires seven. Aside from the number of shareholders, it is also the advantage that the shareholders get that becomes important. The shareholders, owners, and founders, in short, all the company members get the power to sell off or transfer their shares anytime and to anyone.
Members: Entrepreneurs may not be willing to trust many people with their idea and business, in the beginning, to let them have ownership of it. The lesser number of members, which is two, in this case, helps many Entrepreneurs. However, with time, growth, and scaling, one may want to add up the numbers of shareholders in the company. The minimum requirement for registration is 2 and the maximum number of members is 200 as per the company’s different requirements at different times. In this case, along with individuals, even a corporate entity can become a shareholder of the company.
Fund Raising: While the benefits of a Private Limited Company registration are enough to attract the Entrepreneurs, it has similar effects on investors, which is why getting funds is easier for Pvt. Ltd. Company.
A company which has a minimum of two members and a maximum of two hundred members and that offers limited liability or legal protection for its shareholders are called Private Limited Company. A private limited company lies between a partnership and widely owned public company. It is identified by the company name, number of members, formation, directors, meetings, shares, etc.
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 and it can be increased to any amount(no upper limit). As per companies act 2013 the requirement there is no minimum capital requirement for private limited company it can be incorporated with minimum capital of less than Rs 1 lac
Yes, a salaried person can 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.
There are two types of a private limited company:
There are certain myths associated with the Private Limited Company, they are as follows:
A private company can convert itself into a One Person Company provided it satisfies the following conditions:
A private company can convert itself into a One Person Company provided it satisfies the following conditions: