The registrar of the company is very rigid about the documents required for Private Limited Company registration. They check each and every document with due care before providing an incorporation certificate to any applicant. Hence before submitting an application for Private Limited Company always check the documents required for Private Limited Company registration. Even a small mistake regarding the documents can result in the rejection of your application or may require resubmission. If any such situation occurs your application will be delayed for more days. Any discrepancy regarding the documents will not be entertained by the ROC. To avoid any kind of mistake regarding the documents it is always suggested to take the help of experts. Their expertise can help you to get registration timely.
What is a Private Limited Company?
An entity registered with the registrar of companies with a minimum of two directors and two shareholders as per the rules given under the Companies act 2013 is called a Private Limited Company. Stocks of such kinds of companies cannot be used for trading purposes. Out of all directors of the company, one must be an Indian resident. It is one of the most common entities which got registered in India. Most of the people who are at the beginning of a new business opt for a private limited company registration. It has many benefits like the status of a separate legal entity, limited liability, tax exemptions, credibility, reliability, etc. Documents required for Private Limited Company registration and the process of registration have been given under the Companies Act. Companies Act, 2013 is the governing law for anything related to such kinds of companies.
Essential Documents Required for Private Limited Company Registration
The entire process of Private Limited Company registration is online. The registration of such kinds of companies can be done electronically by using the Ministry of Corporate Affairs website. Although the procedure for registration is online, ROC is very particular about the documents required for Private Limited Company registration. Given below is the list of documents required for Private Limited Company registration:
Identification Proof
As mentioned above, a Private Limited Company can be formed with a minimum of two directors and two shareholders. The number can be more than two but cannot be less than that. Whenever the registration process starts identification proof of all the directors and shareholders will be required. ID proofs mean PAN card, Aadhaar Card, or voter card of the directors and the shareholders. With the application of the registration ID proofs of all the members need to be attached.
Address Proof
Application for registration of a Private Limited Company is incomplete without the attachment of the address proof of all the directors and the shareholders. Address proof can be an electricity bill, telephone bill, gas bill, or any other utility bill. Any kind of discrepancy will not be accepted with respect to address proof.
Business Address Proof
With the address proof of the directors and shareholders, the company’s business address proof is also required. It can be a rent agreement or utility bill. Utility bills including electricity bills, telephone bills, gas bills, etc. Any utility bill one is attaching must be a recent one, not older than two months.
Bank Statement of Directors
A Private Limited Company cannot be incorporated without a minimum of two directors. Directors are the one who actually runs the company and handles the work of the company on its behalf. Hence during the time of incorporation, there are many documents of the directors that need to be attached with the application for registration. Bank statements of the directors are one of them. Always check that on the bank statements the proper address is mentioned.
Photograph
Documents required for Private Limited Company registration included a passport-size photograph of all the directors. This photo must be clearly visible. Any photograph which is not clear or blurred will not be accepted. Also, take care of one more thing which photograph should be a recent one. A photograph that is older than six months is not acceptable.
Memorandum of Association
A Memorandum of Association, commonly referred to as MOU, serves as a legal document outlining fundamental company information. This includes but is not limited to, the company’s goals, its authorized representatives, decision-making powers, organizational bylaws, members’ liabilities, and the company’s classification such as limited by shares or guarantee. It establishes the boundaries within which a company operates.
Article of Association
The commonly used abbreviation for Article of Association is AOA. Essentially, it serves as a comprehensive document outlining the operational framework of a company. It encompasses various key aspects such as the voting privileges held by company members, the processes for decision-making, protocols for share issuance and dividend distribution, procedures for directorial appointments, guidelines for conducting audits, and more.
Professionals’ Declaration
The procedures for registering a corporation are done in accordance with the guidelines provided by company legislation. It is required to submit a professional declaration together with the registration application in order to verify that all the established rules and regulations are followed. A professional, such as a chartered accountant, company secretary, qualified management accountant, or attorney, should make this declaration.
Directors’ Declaration
The directors’ declaration constitutes an additional statement that must be included with the registration application. This declaration affirms that the company’s director has no prior history of criminal convictions. This procedural step is mandatory as stipulated by the Companies Act. Omission of this declaration will result in the Registrar of Companies (ROC) rejecting the application.
Additional Information Regarding Documents of Private Limited Company
While the incorporation of Private Limited Company directors and shareholders is required. Most documents required for Private Limited Company registration are related to its directors and shareholders. They can be Indian nationals or NRIs. As per their nationality, their documents will vary. Given below is the list of documents required as per the nationality of the directors and shareholders:
Documents for Indian National Directors and Shareholders
Following is the list of documents need to be submitted by the Indian national directors and shareholders:
- Identity Proof of both the directors and shareholders
- Address Proof of both the directors and shareholders
- Bank Statement of the directors
- Director Identification Number of the directors
- Digital Signature Certificate of the directors
- Passport size photo of both the directors and shareholders
- Specimen signature of directors means signature of directors on a blank page
Documents for NRI Directors and Shareholders
Following is the list of documents need to be submitted by the NRI directors and shareholders:
- Copy of passports of all the directors who will be part of the company
- Identity Proof of both the directors and shareholders
- Address Proof of both the directors and shareholders
- Bank Statement of the directors
- Director Identification Number of the directors
- Digital Signature Certificate of the directors
- Passport size photo of both the directors and shareholders
- Specimen signature of directors means signature of directors on a blank page
Supporting Ingredients of Documentation in Private Limited Company
DSC, which is a Digital Signature Certificate, is included in the list of documents required for Private Limited Company registration. Digital signatures are required to be attached to the documents which are submitted electronically. It assures the safety and legitimacy of the documents. If we look at the procedure of company registration, it is very evident that all the documents are submitted electronically. Hence before filing an application for registration, one needs to apply for DSC.
Without DIN which is the Director Identification Number, one cannot register a private limited company. DIN is an 8-digit unique aq21identification number. It is valid for the lifetime of the directors. But it can be surrendered by the director or canceled by the Indian government in certain exceptional situations. One can apply for DIN electronically through the Ministry of Corporate Affairs website which is popularly known as MCA.
Conclusion
In the current blog, documents required for Private Limited Company registration have been discussed in detail. Private Limited Company registration demands attention to the required documents due to the Registrar of Companies’ thorough scrutiny. One cannot afford to miss a single document, because it directly hampers the registration. There are certain documents in the list of documents required for Private Limited Company registration that cannot be formed without the help of professionals. Such documents include MOA, AOA, professionals’ and directors’ declarations. With respect to documents, there are different requirements for Indian nationals and NRIs. Supporting components like DSC and DIN are equally important. Accurate documentation is pivotal for a successful Private Limited Company registration.
