Procedure for Starting a Private Limited Company
For starting a private limited company, you need to follow the procedure as outlined below:
1. First and foremost, identify the Directors of the Company. A minimum of two directors is required, and a maximum of eight is allowed.
2. All Directors should have a DIN (Directors Identification Number). If you do not have one, you can apply for a DIN online on the MCA site.
3. Once you have obtained your DIN, you need to apply for the Company name. You need to provide 5-6 names in order of preference. If a name is not available, move on to the next one in the order you have provided.
4. Apply online for name availability by filling out Form 1A on the MCA site.
5. Once your name has been approved, you have to apply for the Incorporation of the Company. You will need to prepare a Memorandum of Association detailing the company's operations and the initial list of directors who will be on the board. After approval, make at least 10-15 copies of your Certificate of Incorporation and Memorandum of Association in booklet form.
6. After your company has been incorporated, you can open a current account in any leading bank to carry out operations. Submit a copy of the Certificate of Incorporation and Memorandum of Association, along with a Board resolution, to open the bank account.
7. Next, apply for TAN and PAN for the Company.
You can complete these steps on your own or outsource them to professionals. We have extensive experience in assisting clients with the formation of their private limited companies and registration under other statutory acts.
If you need any help, please feel free to get in touch with us.
Regards