Online Company Registration in Mumbai2023-06-03T18:11:39+05:30

Private Limited Company Registration in Mumbai

Private Limited Company Registration in Mumbai 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. It can induct up to 200 shareholders wherein the liability of each member is limited.

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    Incorporation of Pvt Ltd Company in Mumbai

    Mumbai city, which is also known as Bombay is the capital city of the Indian state of Maharashtra. It is the most populous city in India with an estimated city-proper population of 12.4 million. It is also known as the financial, commercial, and entertainment capital of India. The country´s most important container port Jawaharlal Nehru Trust Port (JNTP) is located in Mumbai.

    Also, it is such an extravagant, delightful, and ambitious city, starting a business or a company here will result in great progress and profit. It could be the best place to start your own business.

    If you are looking to build a business in India, Mumbai 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.

    A Private Limited Company is considered one of the most popular legal structures amongst small, medium, and large businesses in India due to its various advantages. It can be chosen by anyone looking to build a scalable business. It basically requires a minimum of two members and a maximum of two hundred members.

    Moreover, it 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 Pvt Ltd 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 Pvt Ltd Company Formation 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.

    Features of Private Limited Company Registration in Mumbai

    • Membership

    In order to start a Private Limited Company, a minimum of 2 members/shareholders are required. An individual person above 18 years of age or a corporate body can be a member or shareholder in it. The maximum number of members/shareholders in a Pvt Ltd 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. 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. 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 are allowed to be the Directors and/or Shareholders of a Company with Foreign Direct Investment, which makes a Private Limited Company a preferred choice of entity for foreign promoters.

    • Prohibition on Inviting Investments from Public

    A Pvt Ltd Company is not allowed to invite shareholders publicly to purchase or subscribe to its shares or any other kind of securities. It is also not allowed to accept deposits from the public other than its members, directors, or relatives of directors.

    Benefits of Pvt Ltd Company Registration in Mumbai

    • Separate legal entity

      Once the company is registered, it is known as a separate artificial person in the eyes of law and the liability of each member or shareholder is limited upto the unpaid amount of shares. 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

      Private Limited Companies can be registered completely online with less paperwork. The process of registration can be completed within 7-12 working days. Also, it offers flexibility in operations like 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, a company can be formed even with minimum capital (Ex. Rs. 2000)

    • Easy allocation of ownership and management

      Businesses that will require funding from venture capitalists (VCs), angel investors, etc need to register as private limited companies. This is because private limited companies can make them shareholders and offer them a seat on the board of directors, whereas LLPs would require investors to be partners and OPCs cannot accommodate additional shareholders.

    • Easy to dissolve or wind-up

      The structure of Private Limited Company provides faster exit opportunity to those companies which do not have any assets or outstanding liabilities and want to close the business operations due to some extraordinary circumstances.

    • Preferred by banks, VCs & investors

      As the private limited company’s books are audited from independent auditor every year, most of the banks, VCs, and investors prefer them over other traditional forms of business.

    Minimum Requirements to Form a Pvt Ltd Company in Mumbai

    • 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

    Pvt Ltd Company Formation Procedure in Mumbai

    • Application for Name Approval

      Applicant has to provide 2 different names and main objects for the proposed company which shall be submitted to MCA for approval, out of which one name will be approved. Names provided should ideally be unique and suggestive of company business, it should end with the word “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

      It typically takes 3-5 days after final submission to get the incorporation certificate. Incorporation certification is a proof that the company has been registered. PAN, TAN, ESIC, EPFO, Professional Tax registration certificate will also be received simultaneously.

    • 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 to Incorporate a Company in Mumbai

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

      Following are the documents that are required to be submitted by all the proposed directors and shareholders of the company. All documents submitted should be valid and readable.

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

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

    • Registered Office Proof

      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. Following are the list of documents to be submitted as Registered Office Address proof –

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


    How long does it takes to register a private limited Company in Mumbai?2022-06-20T16:54:01+05:30

    In Mumbai, 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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