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Private Limited Company Registration
What is a Private Limited Company (PVT LTD)?
A Private Limited Company (PVT LTD) is a privately held small business operation. The legal responsibility members of a private limited company are limited to the number of shares held by that member. A private limited company is ruled by Companies Act, No.2013. The lower limit of shareholders required to start a private limited company is two while the upper limit of members is 200 in accordance with the Companies Act, No. 2013.
If a private limited company faces a financial threat, its shareholders are not legally responsible to sell their individual assets/properties i.e. they have limited liability or legal responsibility. There must be a lower limit of two directors and upper limit 15 directors for a private limited company and a director must be 18 years above in age. A foreign citizen can become a director of private limited company India (PVT LTD).
It is mandatory to add privately limited (PVT ltd) to a private limited company India. least paid capital amount for a private limited company is Rs. 1 Lakh. A private limited company keeps on existing even in the case of death or economic failure of its Members.
Benefits of Private Limited Company (PVT LTD)
- Limited liabilities.
- The legal operation is separate.
- Easy to form.
- Funds & Tax Benefits.