Online Company Registration in Kolkata2023-08-03T22:23:23+05:30

Private Limited Company Registration in Kolkata

Private Limited Company Registration in Kolkata is one of the popular options to start a business amongst startups and emerging businesses. It is a corporate entity that is easy to register, manage and run. As it can induct up to 200 shareholders wherein the liability of each member is limited.

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    Pvt Ltd Company Registration in Kolkata

    The city of Calcutta, now known as Kolkata, serves as the capital of the state of West Bengal. It holds a prominent position as a dominant urban center in Eastern India, renowned for its commerce, culture, transport, and manufacturing sectors. Kolkata stands out as a prime business destination and serves as the commercial and financial hub of India. Additionally, it serves as the main commercial and financial hub for East and North-East India.

    Furthermore, Kolkata boasts the distinction of being one of the few cities in eastern India, alongside Bhubaneswar, to have an international airport. Establishing a business startup or a company startup is a crucial decision made by an entrepreneur, involving comprehensive strategic, business, and legal considerations.

    If you want to start a business in India, seriously consider Kolkata as a place. Once you have a business idea and decide to start, you will need to follow the Company Formation Procedure in India.

    Small, medium, and large businesses in India consider a Pvt Ltd Company as one of the most popular legal structures. Anyone looking to build a scalable business can choose it. Registering a Pvt Ltd Company requires a minimum of two members and allows for a maximum of two hundred members.

    Introduction to Pvt Ltd Company

    A Pvt Ltd Company is a type of small business entity that is held privately. In addition, the liability of members is limited to their shares and there can be a maximum of 200 members. Further, a Pvt Ltd Company cannot invite the general public for subscribing to its securities. Ministry of Corporate Affairs (MCA), Companies Act 2013, and Companies Incorporation Rules, 2014 govern the Pvt Ltd Company registration in India.

    The liability of shareholders is limited towards creditors, it is restricted only to the unpaid amount of shares. For that reason, banks/creditors can sell only the company’s assets but not the personal assets of directors and shareholders in case of default.

    As a Private Limited Company can raise funds from outside India limits the liabilities of its shareholders, and offers employee stock options to attract top talent, it is generally chosen by startups and growing businesses.

    Moreover, as these entities must hold board meetings and file annual returns with the Ministry of Corporate Affairs (MCA), they tend to be viewed with more credibility than a Sole Proprietorship or General Partnership.

    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.

    Features of Private Limited Company Registration in Kolkata

    • Membership

    A Private Limited Company can be formed with a minimum of 2 members or shareholders. An individual person above 18 years of age or a corporate body can be a member or shareholder in it. Moreover, the maximum number of members/shareholders in a Private Limited Company can go up to 200.

    • Directorship

    A Pvt Ltd Company needs to have a minimum of 2 directors who shall manage the conduct and affairs of the company. The directors may be existing shareholders of the company or can be a person other than a shareholder. There may be a maximum of 15 directors in any company. Furthermore, every Indian Company has to ensure that they have 1 director who is a permanent resident of India.

    • Restriction on Transfer of Shares

    The members/shareholders of private limited companies cannot transfer their shares publicly. Therefore, there can be a restriction on the transferability of shares in these companies.

    • Foreign Direct Investment (FDI)

    Foreign citizens, foreign corporate entities, NRIs, or OCIs can invest in a Private Limited Company and become its shareholder. This is why foreign promoters prefer Private Limited Companies.

    • Prohibition on Inviting Investments from Public

    A Pvt Ltd Company cannot invite the general public to purchase or subscribe to its shares or any other kind of securities. Also, it cannot accept deposits from the public other than its members, directors, or relatives of directors.

    Benefits of Pvt Ltd Company in Kolkata

    • Separate legal entity

      After registration, a Pvt Ltd Company becomes an artificial person, separate from its members. Also, the members of a Pvt Ltd Company have limited liability. It means that if a company faces loss under any circumstances, then its shareholders are not liable to sell their own assets for payment. Thus, the personal, individual assets of the shareholders are not at risk.

    • Easy to register, manage & run

      One can register a Private Limited Company completely in online mode with less paperwork. The registration process takes 7-12 working days to complete. Also, it offers flexibility in operations like the addition of new directors, allotting new shares, ESOPs, and other various other features.

    • No minimum capital required

      After the Companies Amendment Act 2017, the minimum requirement of capital of Rs. 1 lakh for private limited companies was abolished. So now, it is possible to form a company even with minimum capital (Ex. Rs. 2000).

    • Easy allocation of ownership and management

      Businesses that require funding from venture capitalists (VCs), angel investors, etc., need to register as private limited companies. This is because such investors can become directors and shareholders in a company. In contrast, in the case of an LLP, investment is only possible if such investors become partners of the LLP.

    • Easy to dissolve or wind-up

      The structure of a Pvt Ltd Company provides faster exit opportunities to those companies which do not have any assets or outstanding liabilities and want to close their business operations due to some extraordinary circumstances.

    • Preferred by banks, VCs & investors

      An independent auditor audits the books of a Private Limited Company annually. Therefore, banks, VCs, and investors prefer a Pvt Ltd Company over other forms of business.

    Minimum Requirements For Company Registration in Kolkata

    • Minimum 2 Directors/Shareholders

    • At least 1 Director shall be a permanent resident of India

    • Minimum capital of 2 Rupees

    • DIN & DSC’s for all Directors/Shareholders

    What Is Included In Our Company Incorporation package?

    • Company name search and approval

    • Digital Signature Certificate (DSC) for 2 Director/Shareholder

    • Director Identification Number (DIN) for 2 Directors

    • Certificate of Incorporation/Registration

    • Company PAN and TAN

    • Memorandum of Association (MOA) and Articles of Association (AOA)

    • Supporting Document for opening Bank Account

    • Employees State Insurance Corporation Registration (ESIC) and Employees Provident Fund Registration (EPFO)

    • Professional Tax Registration (For Companies registered in the state of Maharashtra and Karnataka only)

    • Company Master File Kit

    Process to Incorporate a Company in Kolkata

    • Application for Name Approval

      The applicant must provide two different names and main objects for the proposed company, which they will submit to the MCA for approval. Out of the two names, one will be approved. The names provided should ideally be unique and suggestive of the company’s business, and they should end with the term “Private Limited.”

    • Application for Digital Signature Certificate (DSC)

      Once the name is applied, we shall apply Digital Signature Certificate (DSC) of shareholders and directors for digitally signing the forms. If the directors/shareholders already have DSC, then this step can be skipped.

    • Final Submission of SPICE+ forms along with MOA and AOA

      After the name is approved and DSC is generated, we need to prepare and submit incorporation application in SPICE+ forms along with Memorandum of Association (MOA), Articles of Association (AOA), and AGILE form for final approval.

    • Get Incorporation Documents

      After the final submission, it usually takes 3-5 days to receive the incorporation certificate, which serves as proof of the company’s registration. Simultaneously, you will also receive the PAN, TAN, ESIC, EPFO, and Professional Tax registration certificates.

    • Opening of Bank Account

      Applicant can submit the Incorporation certificate, MOA, AOA, PAN, TAN, and other required documents to the bank to open the current account and start the business operations.

    Documents Required for Company Formation in Kolkata

    • List of documents to be submitted by the Director and Shareholders –

      All the proposed directors and shareholders of the company shall submit the following documents. All documents submitted should be valid and readable.

      Scanned copy of –

      • PAN Card
      • Aadhaar Card/Voters ID/Passport/Driving License
      • Latest Bank Statement/Telephone Bill/Post-paid Mobile Bill/Electricity Bill (The address proof shall be recent and not older than 2 months)
      • Passport-sized photograph

      In the case of foreign nationals or NRI Director and Shareholders, the documents list can be checked here
      Document Checklist for Foreign Nationals or NRI Director and Shareholders

    • Registered Office Proof

      A Private Limited Company should have a registered office place in India. The office address can be residential or commercial premises. The address proof shall be recent and not older than 2 months. The following documents are acceptable as a proof of registered office address –

      • Scanned copies of utility bills such as Electricity bills/Mobile Post-paid bills/Landline Post-paid bills/Gas bills/Water bills
      • Scanned copy of a No-objection Certificate from the property owner or whose name appears on such utility bill

    FAQ

    What is the average time period needed for setting up a private limited company in Kolkata?2022-06-18T15:44:06+05:30

    In Kolkata, 10 – 15 days would be the average time period for setting up a private limited company. However, this would also depend upon the workload of the Central Registration Centre (CRC), MCA.

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