hi my name is hameed and i am from vakilsearch.com. in this video, i am going to explain abouthow to form a private limited company in india. specifically, what i am going to cover are: 1. how much time does it take to form a company?2. what does it cost to form a company? 3. what is the process?4. how to name a private limited company? 5. what are the documents required?and what are the most frequently asked questions? firstly, the process of forming a companyis extremely simple today. the entire process is online and it takes about 20-30 days toform a private limited company anywhere in
india. in some cities, the companies get formedin about 7 working days. but in some cities, they take much longer.it costs about approximately 15000 rupees to form your private limited company.what is the process of forming a private limited company? what you need to know is that there are just3 simple steps to form your private limited company.step 1 is getting a din number. step 2 is getting your company's name approval.and step 3 is submitting your registered officeaddress proof. step 1 is getting a din numberstep 2 - name approval
and the third one is registered office addressthat's all you need to remember. now, step 1: how do we get a din number?so what is a din number? din number stands for a director identification number.any private limited company has to have a minimum of 2 directors and each director shouldhave a director identification number, also known as a din number.in order to get a din number, what we need from you is:a pan card copy and an address proof the address proof could be a voter's id, aadhaarcard, driving license, passport, or any bill also would do.in addition to that, we would also need a passport-size photograph.
so what are the documents required to geta din number? 1. a pan card copy2. an address proof 3. a passport-size photographthese are the documents required to get a din number. there should be a minimum of twodirectors in each company and for each director, you need to submit these proofs.ok, so that is step 1, which is getting a din number. moving on to step 2, which is getting yourcompany's name approved. so, you might have thought of a name for yourprivate limited company. the ministry of corporate affairs has laid down a set of guidelinesfor choosing a company name. your company's
name will get approved only if it is as perthose guidelines. if not, it won't get approved. so what are these guidelines? i will justtouch upon the most important guideline which is: your company name should have at least 2 parts.the first part is a unique name that you have already thought of.the second part should signify the nature of your business.say, for example, infosys technologies private limited. or tata motors private limited. orreliance communications private limited. so, if you look at these names, there are2 words - there is "infosys" and then there is "technologies" which signifies the natureof the business.
so your name should have 2 parts, the firstpart being a unique name and the second part should signify the nature of your business.that is the name approval process, which is the second step.moving on to the third step. the last and final step. in this step, we should be submitting a proofof your registered office address. you might have identified an address for your registeredoffice address. the registered office address is the address that is actually going to beprinted on your certificate of incorporation. this address could be your home address. itcould be a property that you own. or it could also be a rented property.
if this address is a rented property, thenyou need to submit a rental agreement and a no objection letter from the owner.if the property is your own property, then you have to submit an electricity bill inthe name of the owner and also a no objection letter from the owner. in some cities, they ask for some propertydocuments like a property tax receipt or a sale deed.so this was the third step where you need to submit your registered office address proof. along with the registered office address proofs,in the last step, our experts would be drafting 2 very important documents for your company.these are called the memorandum of association
and the articles of association for your company.in short, the memorandum of association and the articles of association are called asthe moa and aoa. what these documents contain are very simple.they just tell what is it that you are going to do with your company. that's all. you don'thave to understand the legal terminology here. but you just need to know that the moa andthe aoa cover what all things you want to do with your company. that's all. so that was the third step. let's quickly recap. what are the 3 stepsto form your private limited company? step 1: getting your din numbersstep 2: getting your company's name approved
step 3: submitting the registered office addressproofs these are the 3 steps to form your privatelimited company. so the process is extremely simple. fine.coming to most frequently asked questions. one of the most frequently asked questionsis that, our customers ask us: "how much money do i need to invest to start my private limitedcompany? or what is the minimum amount required? this minimum amount is called the authorizedcapital. you need to start with a minimum authorizedcapital of rs. 1 lakh. so what does this mean? do you need to give 1 lakh to someone today?or do you need to show 1 lakh to someone today? no. you don't have to show 1 lakh to anyonetoday. only at the end of the financial year,
while you are submitting the returns of yourcompany, only at that time, you need to show 1 lakh. you don't have to worry about showing1 lakh today to start your company. the other question we normally get is: "cani use my home address? i am just a budding entrepreneur. i am just starting up. can iuse my home address as a registered office address?" that's perfectly fine. major companies werestarted at home or in a garage. so you can definitely start your business right fromyour home. these were the most commonly asked questions.so, in case you would like to get started in forming your private limited company, allyou need to do is give us a call at 90420
04074 or 7200 365 365. you could also sendus an email at support@vakilsearch.com. that's support@vakilsearch.com.in order to get the process started, all we need from you is the documents that i hadtalked about for getting your din numbers. what were the documents? 1. pan card copy2. address proof 3. passport-size photograph these are the documents that you need to getthe process started. so it was nice talking to you. that's alli have for you now. have a great day! good bye!
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