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Start a Private or Public Company in a Hassle-Free Way with MyBizCFO
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We simplify and streamline the process for companies with hassle-free registration
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Get off the mark with a lightning-fast turnaround time
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Services at an optimal cost, with a transparent pricing policy and no hidden fees
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Comprehensive services, from registration to compliance with the law
Why Choose MyBizCFO for Private and Public Limited Company Registration?
Private and Public Company registration are preferred options for businesses in India. With these, founders get limited liability protection due to a separate legal existence. These entities have better credibility and can raise external funds. However, business owners must complete registration with the Ministry of Corporate Affairs (MCA) to set up their company legally. MyBizCFO can help you complete the formalities of registration seamlessly. Working with us offers various benefits such as:
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On-call support with dedicated account managers
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An easy and quick online company registration process
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A team of qualified experts such as lawyers, CA, and CS
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Fast turnaround and cost-effective services
Benefits of Registering a Private Limited Company
Distinct Legal Status
The business and its owners have different legal identities. It has the ability to possess property, sign contracts, and bring legal action against third parties under its own name. Even when the members' lives are over, it continues to exist as a separate entity.
Management and Ownership Clarity
The directors of the corporation make management choices, even though the shareholders own the company. This enables the company to gain from expert management without reducing the promoters' and shareholders' ownership stake.
Limited Liability
Owners can restrict their liabilities according to their capital contribution by establishing a PLC in India. Unlike partnerships and sole proprietorships, their personal assets are shielded from any significant debt or loss in the company.
Ease of Funding
Banks like to lend to companies and limited liability partnerships (LLPs) because of their high compliance. Key benefits of a Pvt Ltd company are limited liability protection for owners and simplicity of ownership transfer. Private limited corporations are preferred by investors such as venture capitalists, private equity firms, and HNIs.
Deciding the Name of Your Private Limited Company
Here are a few things you must keep in mind when deciding the name of your private limited company:
Distinct Name:
A unique name that isn't already a trademark or company registration has a higher possibility of being approved by the MCA.
Suffix to Name:
The company's name must conclude with Pvt. Ltd., or Private Limited Company.
Commercial Operations:
Ideally, the second element of the name should allude to the company's line of work.
Benefits of Registering a Public Limited Company
Extensive Business Opportunities:
A company's listing on a stock exchange guarantees that hedge funds, mutual funds, and other traders are aware of its activities. There can be more commercial opportunities for the Public Limited Company as a result.
Capital Abundance:
Anyone can invest in a public limited business since its shares are open to the general public. This leads to a rise in the company's capital. Entrepreneurs need not struggle to get funds to start the business.
Risk Dissemination:
The market's unsystematic risk is dispersed because the shares are offered for sale to the general public. This reduces the risk factor for the business owners setting up the company in the first place.
Possibilities for Growth and Expansion:
There is a great chance to grow and extend the firm by using the funds obtained from shares to invest in new projects because there is less risk involved. Over time, the company builds its reputation too.
Eligibility Criteria to Set Up a Public Company
Minimum 3 Directors
Nil minimum capital requirement
Minimum 7 shareholders
DIN of the Directors
DSC of the Directors
Documents Required to Register a Private Limited Company
Identity Proof: Driving License, Passport, or Voter ID of the shareholders and directors
Aadhaar Card and PAN: Both Aadhaar Card and PAN of all Indian shareholders and directors
Address Proof: Copy of the latest bank account statement, telephone bill, or electricity bill the shareholders and directors
Business Address Proof: Latest Property Tax Bill or Utility Bill of the registered office address/Rent agreement and owner NOC for a rented property
Photographs: Passport-size photographs of shareholders and directors
Step 1: Answer Our Questions
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Pick the relevant package
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Answer a few simple questions
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Provide documents according to our checklist
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Pay through a secured payment gateway
Step 2: Connect with Our Experts
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We will assign a dedicated relationship manager
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Our experts draft and file your documents
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Get answers to queries within 24 business hours
Step 3: Get on Track with Your PLC Registration
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Complete the process in 10-12 working days
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We ensure that your business is compliant.
Get on a free assessment call with an expert.
Company Registration Timeline
Days 1 - 2
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Your documents and information are reviewed by our experts
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We apply your Digital Signature Certificate (DSC)
Days 3 - 6
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We check the name availability for your PLC on MCA and IP India Portals
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We apply for a company name reservation
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Our experts draft MoA and AoA
Days 7 - 9
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We fill out the form for a Certificate of Incorporation (COI)
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We file the DIN allotment application
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We file PAN and TAN application
Day 10 - 12
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MCA approval awaited to get started
One-Person Company Registration
A One-Person Company (OPC) is an ideal option if you want to own a business solo, with limited liability and continuity in mind. Here’s a quick overview:
Solo Ownership:
One shareholder owns 100% of the company.
Nominee Requirement:
A nominee is appointed to ensure continuity in case of the owner’s incapacity.
Private Limited Structure:
Enjoy the benefits of a private limited company with the simplicity of one-person ownership.
MyBizCFO can help you set up and manage your One-Person Company with ease.
Want to know the details?
Choose the Right Business Structure by Comparing Entity Types
Title | Comparison Criteria | Private Limited Company | Public Limited Company | One Person Company (OPC) |
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1 | Applicable Law | Companies Act, 2013 | Companies Act, 2013 | Companies Act, 2013 |
2 | Registration | Mandatory; must be registered with MCA under the Companies Act | Mandatory; must be registered with MCA under the Companies Act | Mandatory; same as Private Limited Company |
3 | Number of Owners | Minimum: 2; Maximum: 200. Includes only shareholders and excludes present or former employees | Minimum: 7; No maximum limit | Only 1 shareholder allowed; sole ownership structure |
4 | Separate Legal Entity | Yes; PLC is a separate legal entity, capable of owning assets or entering into contracts independently | Yes; Public Limited Company operates as a separate legal entity | Yes; operates as a separate legal entity similar to a Private Limited Company |
5 | Liability Protection | Limited to the unpaid amount of shares held. May vary if specified as unlimited liability in the Memorandum of Association (MOA) | Limited to the unpaid amount on shares | Limited to the unpaid amount on shares held by the sole member |
6 | Statutory Audit | Mandatory; required to appoint a statutory auditor within 30 days of company incorporation | Mandatory; same as Private Limited Company | Mandatory; same audit requirements as Private Limited Company |
7 | Ownership Transferability | Restricted; transfer of shares requires the consent of other shareholders, making it less flexible for external investors | Freely transferable; shares can be bought or sold easily, allowing for capital raising through public trading | Restricted; 100% ownership lies with a single owner, and transfer requires 100% share transfer |
8 | Perpetual Existence | Yes; continues despite changes in ownership or management | Yes; existence remains unaffected by changes in shareholders or management | Yes; perpetual succession, but only one owner allowed at any time |
9 | Foreign Ownership | Allowed under RBI and FEMA guidelines, typically through the automatic route | Allowed; foreign nationals can invest as per RBI and FEMA guidelines, generally under the automatic route | Not allowed; only Indian citizens and residents can establish an OPC |
10 | Taxability | - 25% if turnover < ₹400 crores - 25% for manufacturing companies (post-March 1, 2016) under Section 115BA - 22% for companies not claiming exemptions under Section 115BAA - 15% for new manufacturing (post-Oct 1, 2019) under Section 115BAB - 30% for others | Same as Private Limited Company | Same as Private Limited Company |
11 | Compliance Requirement | High; includes annual filing of financial statements, annual returns, holding board meetings, and maintaining statutory registers | Very high; includes all private company compliances plus requirements like AGMs, quarterly financial results, and SEBI compliance (if listed) | Moderate; includes annual filing of financial statements, annual returns, and limited board meetings. No AGM required |
Frequently asked questions
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What are the requirements for private limited company registration?
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At least directors and shareholders should be on board, with one of them being an Indian citizen and resident
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Name of the company according to the MCA guidelines
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A valid registered office address for the business
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Clear and legible documents for shareholders and directors
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Minimum authorised and paid-up capital
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What are authorised and paid-up capital?
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The most money that a business can raise, either now or in the future, through the issuance of shares is known as authorised capital. If the business wants to raise money by issuing new equity, authorised capital can also be raised later. The authorised capital is used to pay the stamp duty required for company registration. On the other hand, paid-up capital is the sum that shareholders actually pay to issue shares. In India, a company may be incorporated with any paid-up capital, which may be less than or equal to the authorised capital.
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What is the minimum capital required to set up a private limited company?
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Starting a private limited company does not require a minimum amount of paid-up capital. But according to the Companies Act, a business must maintain a minimum of ₹1 Lac in authorised capital, which must be split up into 10,000 equity shares, each worth ₹10. To introduce a suitable quantity for operating the firm, each shareholder must subscribe for a minimum of one share. The paid-up capital must be placed as share capital in the company's current account.
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Can my residential address be the same as my company’s registered address?
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It is possible to register a Private Limited Company using your residential address. Proof of business address can be produced in the form of the most recent utility bill (phone, gas, water, and electricity) or property tax bill. You must provide an NOC with the form if the property is owned by a different family member. A registered office is where the MCA and other relevant agencies communicate with the company. This address is also shown on the Ministry's website. Additionally, property taxes that apply to commercial premises may be applied to a residential address utilised for business purposes.
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What is the minimum number of people needed to form a public limited company?
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At least three directors and seven shareholders are required for a public limited company.
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Does a public limited company's director have any duties to settle the company's debts?
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No, because the firm is a limited liability entity, a member's responsibility is capped at the face value of the shares they own. He is not required to make any contributions to settle the company's debts after the full face value has been paid.
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Is a public limited company's board meeting mandatory?
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Yes, a public company is required to file its Statutory Report with the Register of Companies and call its statutory meeting. It is important to remember that a meeting of a public limited company can only be deemed legitimate if the required number of members is present. For a Public Limited Company to have a quorum, five members need to be physically present. Nonetheless, the Articles of Association may include more members than what the Act mandates.
Small Business Registration
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What is a Digital Signature Certificate?
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The Certified Authorities issue a token known as a Digital Signature Certificate (DSC). A DSC is an electronic signature that directors, promoters, and shareholders use when submitting paperwork to the MCA. To submit e-forms for incorporation, all directors and MOA subscribers (the company's promoters) require DSC. When submitting GSTR, ITR, and ROC forms, the director's DSC is also utilised.
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What is a Direction Identification Number?
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The Ministry of Corporate Affairs (MCA) assigns a unique number known as the Rector Identification Number (DIN). It is given to people who wish to become authorised partners in an LLP or directors in a firm. An individual is only given a single DIN. By submitting the necessary paperwork to MCA, DIN can be turned in at any moment. Every year, all DIN holders must complete the DIR 3 KYC file in order to activate their DINs.
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Can a private company operate several businesses?
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Indeed, a private company may operate several companies in the same industry or with related operations. It must be authorised by a registrar and stated in the company's memorandum of agreement. However, businesses are not allowed to include unrelated activities. Fashion design and event management, for instance, are not the same company's primary economic activity because they are so dissimilar.
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Whom does the MCA share the incorporation data with?
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Information about the newly incorporated company is obtained by authorities such as the Employees State Insurance Corporation (ESIC), Employees Provident Fund Organisation (EPFO), GST Department, Bank, NSDL, Income Tax Department, Commercial Tax Department of the respective states for PT Registration, and Labour Department. Additionally, MCA posts the company's and its directors' fundamental information on its portal under the "Master Data" area.
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What are the statutory requirements post company registration?
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Following registration, the business must prioritise meeting the following requirements:
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Within 30 days of obtaining the PAN card, open an existing bank account.
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Select the company's first statutory auditor.
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Deposit paid-up capital as specified in the company's memorandum of agreement.
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Shares are issued and distributed to subscribers.
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Within 180 days of receiving the COI, file INC-20A.
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What is a one-person company?
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According to Section 2(62) of the Companies Act, a one-person business is one that has just one member. Moreover, a company's members are merely stockholders or subscribers to its memorandum of organisation. Accordingly, an OPC is essentially a business with a single stakeholder.
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Who is eligible for a one-person company?
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An OPC can only be formed by an Indian person who resides in India. An OPC can only be formed by a natural person, not by a business or other legal organisation. The OPC must be formed by someone who is at least eighteen years old. An OPC can only have one director and shareholder.
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Which is better: OPC or Private Limited Company?
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Private limited companies (PLCs) and one-person companies (OPCs) both provide special benefits to business owners. It's critical to take your company's objectives, size, and expansion plans into account while choosing between OPC and Pvt Ltd. Pvt Ltd is the greatest option for companies with several stakeholders and long-term growth objectives, while OPC is excellent for sole proprietors looking for limited liability. Although each form has unique benefits, knowing how OPC and Pvt Ltd differ from one another can help you make the best decision.
Do you have more questions? Get in Touch
What Clients Say About Us
Silpa Raut
Local Guide • 4 days ago
These experts did a fantastic job of ensuring that everything went well and that everyone was heard. Excellent team to collaborate with. Many thanks, MyBizCFO!
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Avinash Khullodkar
Local Guide • 2 hour ago
In addition to giving me regular updates and keeping me updated, the experts at MyBizCFO have been incredibly helpful in assisting and counselling me during the company registration process. I will always be grateful for their guidance.
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Komal dangar
2 days ago
I truly appreciate the quick and efficient assistance I received from MyBizCFO. I would definitely recommend them to anyone seeking help with their private limited company registration.
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