Pvt limited registration needs the company to register along with a number of documents that the supposed directors need to submit for the process. The status bestows upon the company lesser legal liabilities and lets it to enjoy certain rights. With this privately held business enterprise, the members or shareholders also possess fewer threats in case the company should run into tremendous debt or damage. Their own assets are never at stake and then can rely solely upon the company’s valuable to deal with the immediate crises at hand. Besides, there are other features of a private organization that make proprietors to register their company.
Pvt ltd company registration online has innumerable advantages for any company that top over a Partnership or Proprietorship Firm. One of the requisites for filing under the program is that the firm must have minimum number of two members as opposed to one that is relevant for OPC. The liability lessens down for both the directors involved with the firm, and in case of any damage, they are only required to sell the assets belonging to the firm. A meagre amount of documentation is needed for the process. You need to furnish passport, resident proof, identification card- voter ID, electricity bill, driving license (if any), ration card, and bank statements. The registered office address of the company must be validated from beforehand to be submitted for obtaining the registration. Before you opt for the registration, know in details the benefits of such a scheme.
For the registration process, one of the compulsory parts of documentation remains obtaining a digital signature certificate. This signature should vouch for the authenticity of the documents furnished at the time of registration. The directors are needed to complete the signature on each and every document supplied by the company. The elaborate legal tasks can prove to be extremely time-consuming and before you embark on the process, make sure you have sufficient backup to look after the arrangement.
The registration allows the company to enjoy a legal status to receive a hoard of rights and benefits that come under the law. The company also becomes eligible to bear the legal proceedings in case the need be so. In a nutshell, the company acquires more stable identity, an individual that can pay its debts, incur property, and therefore sparing the directors or shareholders the liability of debts to creditors. The shares can be transferred from one shareholder to the other with substantial amount of ease and fewer legal complications. The choice is completely based on the decision of existing shareholder who is handling over the share. With the completion of registration, the private companies can jot down various restrictions on the transfer of shares as decided after mutual agreement. However, in case there could never exist a total ban on the shares.
If you are looking to register your private limited company online then make sure to get hold of a company that will offer you the service. You will find many companies on the internet offering such services. Make sure to do your research before finalising one.