The central government issues a DIN to anyone who intends to be a director of the company. It is an eight-digit unique identification number which has lifetime validity. DIN is person-specific which means that even if he is a director in 2 or more companies, he/she has to obtain only 1 DIN. If a return, application, or information about the company is required by law, the director who signs the return, application, or information will request a DIN under his signature.
A digital signature certificate (DSC) contains information about the user’s name, email address, pin code, country, date of issuance of the certificate, and name of the certifying authority. It is used to prove your identity, to access information or services on the Internet, or to sign certain documents digitally.
The Memorandum of Association (MOA) states the main and ancillary objects of the proposed company. The Articles of Association (AOA) contains the rules and procedures for the routine conduct of the proposed company.
Authorized capital is the maximum amount of share capital for which a company can issue shares. Authorized capital can be increased by the company at any time with shareholders’ approval.
The Paid-up capital of a company is the amount of money for which shares were issued to the shareholder and for which payment was made by shareholders. Paid-up capital will always be less than the authorized capital as the company can not issue shares above its authorized capital.
No, registering a new company is a complete online process. All documents are stored electronically, so you don’t need to be physically present. Please send a scanned copy of the required documents and forms.
These can be divided into four categories: The costs of establishing a private limited company, the costs of accounting and auditing, the costs of compliance, and other costs.
Yes, an auditor must be appointed within 30 days of setting up a private limited company. Non-compliance fees can be in the hundreds of rupees, so compliance is important for private limited companies.
Any individual or organization can become a member of a private limited company including NRI/foreigners. Nonetheless, the individual must be 18+ in age and should hold a valid PAN card.
Yes, directors can be paid for by private limited companies. If these conditions are allowed, you will need to verify your employment contract. In many cases, the employers are quite comfortable with the fact that their employee is a director in another company.
Yes, NRIs and foreigners can be directors of a private limited liability company. You must apply and receive a DIN from the Ministry of Corporate Affairs (MCA). You can also be the majority shareholder of the company. The only requirement is that at least one director be established in India.
Yes, you can register your company at your home address. For this you will need to present a service invoice.
Yes, by filing Form 18 (Application and Statement for conversion of a private company/ unlisted public company into limited liability partnership (LLP). Also, Form 17 needs to be filed along with Form 2 (Incorporation document and subscriber’s statement).