Private Limited company registration in Kochi – Kaloor
Private limited company registration in Kochi is run privately with a minimum number of shareholders. The owner’s liability to the shares is within a limit.
When liability is limit to the shares of course in case of any financial loss to the company, the shareholders no need to take risk of owing their assets to loss.
Unlike OPC the shareholder in Private limited company can be up to 50 and minimum two Directors are need for registration in a private company in Kochi is govern by Companies Act 2013.
It has special status in the eyes of the law. Many start-ups prefer this private limited company because the growth is stable and steady. Tax exemption is allowable for private companies.
As known earlier One Person Company, Limited Liability Partnership and some of the types of the Private limited company. It operates as a distinct legal entity. Profit sharing is not allowable in private company.
Private Limited company registration in Kochi
Setting up the business is straightforward. The Private limited company registration in Kochi explains how a Private limited company can be registered. Initially the DSC (Digital Signature Certificate) and DIN (Digital Identity Number) must be obtain.
DSC is always in need if you choose not to sign the documents physically. This is time efficient work proceed by DSC. DIN is obtain from Director in a private limited company. Then suitable name should be select for a company.
Process in Registration
The main consideration is the name should not be similar to existing names. So as to avoid any legal issues with similarity searching the name must be ‘unique’.
The Private limited company registration in Kochi ensures whether the selected name must have prefix of ‘Pvt.Ltd’. The next step is for filing for incorporation of private limited. Finally there is a need to submit documents.
A declaration statement about requirements are in need and also the declaration must be sign by the attorney or the Supreme Court advocate or charted accountant who is fully known about the company. The private limited company must be subscribe at least to one share. Additionally, certificate of Incorporation will be issued.
Documents Required for Registration
Private limited company registration in Kochi says what are all the documents in need for the above filing process. Firstly for Director or the shareholder one photograph, copy of PAN card, copy of address proof or Aadhar card or vote id or passport must be given and also copy of bank statement or copy of telephone bill is given. Articles of Association, Memorandum of Association, Declaration and affidavit of the Directors should be submitted.
The Private company registration in Kochi explains AOA and MOA.The article of Association (AOA) – gives regulation and purpose of the company.Memorandum of Association (MOA) – it is legal document which describes relationship with shareholder. The registration process is complete with ten to fifteen business days.
Additionally, the documents for company address is in need . They are utility bills like electricity bill, telephone or gas bill is in need. If it is rent then rental agreement documents and sales deed is in need. And also NOC is in need to submit. NOC is No Objection Certificate.
NRI- Document submission
For NRI person to start the private limited company, copy of the passport, any ID proof like Driving license and address proof of the home country should be submitted. The Private limited company registration in Kochi ensures whether the document is correctly submit according to the rules.
The Private limited company registration in Kochi states few of the characteristic features. They are at least four board meetings should be hold one in each quarter.
The gap between two meetings should not be more than 120 days. AGM the Annual General Meeting should be arrange within a six months from closure of the Account.
The Private limited company registration in Kochi gives an idea that private limited company can be convert into LLP or into a public company.
When the company has no security interest in its assets at time of application. Relating to conversion the documents should be in need. The debt, liabilities and obligations shall not be get affect due to this conversion.
Advantages of private limited company
Private limited companies contribute to the growth of the economy. And also the small group of people can start up and their efficiency helps in the growth. Their credibility increase when it is being register
Tax advantages become possible in private limited companies. The Private limited company filing in Kochi states even after the demise of the Director then a successor can take over the charge.
NRI can come to India and form Private limited company registration in Kochi with small group of people because the law associated with Private Limited Company paves the way for it.
Private limited companies have very good branding of stakeholders or vendors.So people will think that if you are managing a private limited company then you are very serious about it and will not run away overnight.
Rules of Private Company registration
One cannot expect the capital to be much when you compare it with public limited company. The shares cannot be sold out to the public. The Private limited company registration in Kochi explains the shares cannot be transfer to the others without the consent of the shareholders.
The Private limited company registration in Kochi explains that one has to seek for another person to accompany in the formation of private limited company unlike One Person Company. And also it cannot be list in stock exchange. The dissolution of private limited company is time consuming. To access financial support it is comparatively difficult with public companies.
The Private limited company registration in Kochi warns if any one of the shareholder is likely to be involve in illegal activities then it will be suspended.
The Private limited company registration in Kochi states that the Investors are keen on investing in Private limited Company. Similarly, it is flexible and scalable nature the shares like equity share can be issue to different people. Greater remuneration is also a pay to the Directors. The private limited company helps in fund raising. Private limited company increases trust and credibility. Thus the private limited company has some economic and social responsibility in a nation.