A private limited company needs to complete the process of Pvt ltd registration in order to ensure a smooth run. In case a privately held company fails to register itself, it might face various legal issues that will affect the company reputation and growth. On the other hand, a properly registered company enjoys various legal support and benefits. The registration ensures that the private properties of the company holders are never in damage even when the company has suffered a big loss.
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 process of registration it is important that the company executives to obtain a digital signature certificate. This certificate works as the proof of the fact that all the documents that have been submitted by the company bear correct and true facts. The company holders need to sign on each page of the documents that they submit to the authorities. This process is rather tedious and time consuming. You should thus make sure that you are well aware of the contents of the document you are signing and do the work with a fresh mind.
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.