Do I need to be physically present during this process?
No. Registration of a new company is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
How much time is needed for setting up a private limited company in India?
If all the documents are in order it should not take longer than 10-12 working days. However, it is also dependent on the workload of the registrar.
What are the documents required for company registration?
The required documents are the directors’ and Subscribers valid identity proof and valid address proof. Further a valid registered office address proof will also be required.
What is the minimum capital requirement?
As such there is no minimum capital requirement. However, we recommend a minimum of ₹1 lac should be provided as authorized capital.
What other charges except the above are applicable for company incorporation?
We believe in transparency – the costs mentioned are the only costs which will be charged to you
Directors & Shareholders
How many directors are required for the company formation?
A minimum of 2 directors are required for company formation. If you are a single director, you can register a One Person Company.
How many shareholders are required for the company formation?
A minimum of 2 shareholders are required for company formation.
What is a DSC?
The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. As all documents needed are electronic, partners need a DSC.
Can the director be a salaried person?
Yes, a salaried person can be the director of a private limited company subject to his employment agreement. In most cases, employers are comfortable with their employees being directors in private limited companies.
Who can be a shareholder of a private limited company?
Any individual/organization can become a member of a private limited company including NRI/foreigners. Nonetheless, the individual must be 18+ above in terms of age and should hold a valid PAN card. Kindly note that the rates of our packages differ in case of setting up a subsidiary company of a foreign company.
Accounting & Tax
Can you manage my accounting and tax related queries?
Yes, we have a team of professional accounting and tax consultants who can assist you with all your requirements.
Do I need monthly or annual accounting?
Every business is different. We can discuss your business structure and recommend accordingly.
What will be my tax liability as the director and / or shareholder?
The corporate tax liability of 22% subject to conditions prescribed under the Act. Further, there are certain tax exemptions and incentives for individuals. Our consultants will be happy to guide you.
Do I need a GST registration?
GST registration is mandatory for certain businesses. Companies dealing in good only, or into any other interstate activity and companies with turnover of more than INR 40 lacs are required to obtain the same. Rest of the entities need to obtain the registration if the turnover exceeds INR 20 lacs. Our consultants will be happy to assist you with the registration.
What other services can you provide?
We are a full-service provider taking care of full corporate secretarial compliances, direct and indirect tax compliances, accounting and payroll.
How do I open a current account with a bank?
Our package includes assistance in opening a current account with certain banks for your private limited company.
Do I need to be physically present for bank account opening?
This is bank specific requirement. But under most of the cases banks will visit you physically for bank account opening and KYC procedures.
How long would it take to open the current bank account?
It takes approx. 7 to 10 working days provided all the KYC documents are proper.
Which banks do you work with?
We work with all Indian private banks and major foreign banks having presence in India.
Can one register their home address as the address of a private limited company?
Yes, that is permitted. One needs to submit the latest utility bill copy of the same. The address on the utility bill will exactly be the registered address of the company
What are memorandum and articles of association?
These are the documents that govern the functioning of the company. These documents contain the main object clause, rules and regulations of the company and also define the the roles and responsibilities of shareholders and directors.
How soon can I conduct business post company formation?
As soon as you obtain Certificate of Commencement of Business. For obtaining such certificate, a bank account needs to be opened and subscription money is to be deposited in the account.
Is it necessary to have the company’s books of accounts audited?
Yes, it is compulsory for a private limited company to have its books of accounts audited every year under company’s act. An auditor must be appointed within 30 days of incorporation.
How can I be eligible to get benefits under Startup India initiative?
Only the below stated entities qualify as a “Startup” for the purpose of Government schemes
- Private Limited Company
- Registered Partnership Firm
- Limited Liability Partnership
- Not more than 5 years have passed from the date of its incorporation/ registration
- Turnover for any of the financial years has not exceeded ₹25 crore
How much does it cost to run a private limited company?
The statutory cost can be divided into four categories – set up cost, accounting and auditing, statutory compliances and miscellaneous. All combined, you can expect a cost of ₹40,000 for the first year.
I already have my digital signature. Will the package value remain the same?
In case, you already have a DSC, our consultants will offer you some concession accordingly on the above package.
My details on my documents have a difference. Can I still incorporate my company using them?
You will need to have exactly the same details on all your documents to incorporate your company.
Can Non-Resident Indians / Foreign Nationals become a director in a private limited company? And what additional documents will be required to be submitted?
Yes, NRIs and Foreign Nationals can become directors in a private limited company. They need to get a DIN from the Indian ROC. This is subject to the condition that at least one director on the board of directors of the company should be an Indian Resident. Additional documents required:
- Copy of Passport Copy Which is apostilled by Consulate of Indian Embassy and notorised by Foreign Public Notary. These rules are country specific.
- Copy of Bank Statement, Telephone Bills, Mobile Bills or Electricity Bills which is apostilled by Consulate of Indian Embassy and notorised by Foreign Public Notary. These rules are country specific.