Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Registering a company offers many benefits. GetmyCA offers Company Registration in Chennai in which registered company makes your business genuine and increases the authenticity of your business. Company Registration in Chennai is a popular option to start a business in Chennai by startups and businesses with higher growth aspirations. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. One of the primary steps in Company Registration is to ensure that the company name has not already been taken by another legal entity. We can run a company name search to check the availability of the particular name in India against the MCA and trademark database.
To register a private limited company while Company Registration in Chennai, a minimum of two shareholders and two directors are required. A natural person can be both a director and shareholder, while a corporate legal entity can only be a shareholder.
For Commpany Registration in Chennai , the name of your business must be unique. The suggested name should not match with any existing companies or trademarks in India.
MINIMUM CAPITAL CONTRIBUTION
There is no minimum capital amount for a company. A company should have an authorized capital of at least Rs. 1 lakh when its going to register for company registration in Chennai
The registered office of a company does not have to be a commercial space. Even a rented home can be the registered office, so long as an NoC is obtained from the landlord.
If you want to start a business start with company registration in Chennai then make sure your company is registered as Company Registration should be your first priority. It is very important to register your company cause a registered company have multiple advantages i.e. easy to register to easy to dissolve. Private Limited Company Registration can be done through GetMYCA(company registration agent). If you want to register your own company then you can totally rely GetMYCA(company registration services provider). We will help you with company formation procedures.
Every business, no matter how small, needs a financial and tax advisor. Every business success depends on how you committed to your vision statement. Take action to make your vision statement come true: Use it as the basis of your business planning.
Before you start developing your business plan, you need a clear idea of what you want to accomplish. Share it with potential partners, staff, and employees if you have them. Private Limited Company Registration is the most popular legal structure to take step further in business plans.
Separate Legal Entity
Private Limited Company is a legal entity different from its members. Hence, a company has a range of legal capacities including opening of a bank account, hiring of employees, taking on equity or obtaining licenses and more as an independent corporate entity. The members (Shareholders/Directors) of a company have no personal liability to the creditors of a company for company's debts.
Private Limited Company being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., No shareholder can make a claim upon the property of the company - as long as the company is a going concern.
Uninterrupted Existence Private Limited Company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.
Borrowing Capacity Private Limited Companies can raise equity funds in India. Companies can also issue equity shares, preference shares, debentures and accept deposits with RBI permission. Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns.
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STEPS FOR COMPANY INC.