Surat is a city in the Indian state of Gujarat. It used to be a large seaport and is now a centre for diamond cutting and polishing. It is also the eighth largest city and ninth largest urban agglomeration in India. It is the administrative capital of the Surat district. Surat was the world’s fastest-growing city in 2016 according to a study by the City Mayors Foundation. Moreover, Surat was awarded “best city” by the Annual Survey of India’s City-Systems (ASICS) in 2013. Surat is selected as the first smart IT city in India which is being constituted by the Microsoft CityNext Initiative tied up with IT services majors Tata Consultancy Services and Wipro. Therefore, the scope of setting up a business can turn out to be quite beneficial as well as profitable. So we can say that Surat happens to be a better place to do business in India.
If you are looking to build a business in India, Surat is a place you should consider with utmost importance. Once you have come up with a business idea and decided to start a business you will need to follow some procedures to register a company in India.
Private Limited Company is considered one of the most popular legal structures amongst the small, medium, and large businesses in India due to its various advantages. It can be chosen by anyone looking to build a scalable business. A Private limited company registration requires a minimum of two members and a maximum of two hundred members.
A Private Limited Company is a type of privately held small business entity, in which the owner’s liability is limited to their shares, the firm is restricted to having 200 or fewer shareholders, and shares are prohibited from being publicly traded. A shareholder of a private limited company has limited liability towards creditors, it is restricted only up to the unpaid amount of shares. In case of a default, banks/creditors can sell only the company’s assets but not the personal assets of directors and shareholders. Start-ups and growing businesses choose Private Limited Company registration in India because it allows outside funding to be raised easily, limits the liabilities of its shareholders, and enables them to offer employee stock options to attract top talent. As these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend also to be viewed with more credibility than a Sole Proprietorship or General Partnership.