Registering a private limited company in Visakhapatnam is a crucial first step for starting your business legally.
In addition to protecting your personal property, the legal process will provide your company a unique name. A private limited company in Visakhapatnam is formed by promoting quicker development and trust-building. Due to its flexibility and safety, the structure is widely employed in India by the majority of Indian firms. In this blog you will learn about the registration procedure, fees, legal criteria, and other specifics that are required for registration.
A Private Limited Company is a legally registered business structure with limited liability and private ownership. It is formed under the Companies Act and is owned by a small group of shareholders. The liability of each member is limited to the amount they invest in the company. Shares of a private limited company cannot be publicly traded, ensuring tighter control. It must have at least two directors and two shareholders. This type of company is ideal for startups and growing businesses seeking credibility and legal protection.
The fee for private limited company registration in Visakhapatnam includes the government fee, documentation fee and professional service fee.
Service Description | Fee (INR) |
---|---|
Digital Signature Certificate (DSC) | ₹3,000 |
Government Fee (Stamp Duty) | ₹2,500 |
Professional Fee | ₹3,499 |
Total Cost | ₹8,999 |
It takes around 7-10 days in the online business incorporation of a private limited company. This will include filing of the incorporation papers to the Ministry of Corporate Affairs (MCA) along with Director Identification Number (DIN), Digital Signature Certificate (DSC) and the name approval, in accordance with the time taken in verifying the documents, and processing the documents.
Here are the list of documents needed to register a private limited company in Visakhapatnam is as follows:
For Directors/Shareholders
For Registered Office
Learn of what all documentation, legal processes, and compliance entails that needs the registration of a private limited company.
Step 1: Get Digital Signature Certificate
For Pvt Ltd company registration in Visakhapatnam, all the directors are required first to purchase Digital Signature Certificate (DSC). The DSC which is a digital security certificate should be used to sign the electronic forms which the ministry of corporate Affairs (MCA) has purchased. The integrity of all the documents provided in the form of an electronic book is preserved in the process.
Step 2: Obtain Director Identification Number (DIN) for Directors
All the directors are required to possess Directors Identification Number (DIN) in order to file the company online. This is their identity number and is one which is allocated to them by MCA. Against the filing of SPICe+ form, the DIN would be available throughout the registration process. It binds the director to every organisation which he/she is making a transaction with and it is under the law.
Step 3: Book a Company Name, and Incorporation filing
Once this has been done, a unique name of the company must be registered with MCA using RUN (Reserve Unique Name) service. When you have been authorised, complete SPICe+. The multiapplication form is also used to register the company, give DIN and PAN/TAN and optional application (GST). When it is approved, the certificate of incorporation is issued by the Registrar of Companies (ROC).
First Board Meeting
Must be held within 30 days of incorporation, as per Section 173(1) of the Companies Act, 2013. The meeting can be conducted in person or via video conferencing.
Opening Company Bank Account
A current account must be opened in the company’s name to receive the initial share capital and conduct financial transactions.
Registered Office Address
The company must establish a registered office within 30 days of incorporation and file Form INC-22 with the ROC.
Director’s Disclosure of Interest
Directors must disclose their interest in other companies at the first board meeting using Form MBP-1, as mandated by Section 184.
Appointment of First Auditor
The Board must appoint a statutory auditor within 30 days of incorporation under Section 139(1). If not done, shareholders must appoint one within 90 days at an EGM. The first auditor serves until the first AGM.
Issuance of Share Certificates
Share certificates must be issued to shareholders within 60 days from the date of incorporation or allotment as per Section 56(4)(a).
Maintain Statutory Registers and Books of Accounts
Companies must maintain statutory registers (members, directors, charges, etc.) as per Sections 88 and 170.
Books of accounts must be kept at the registered office, maintained on an accrual basis and double-entry system (Section 128).
Filing of INC-20A (Commencement of Business Certificate)
Must be filed within 180 days of incorporation. Directors must declare that all subscribers have paid the value of shares agreed upon.
Display of Company Name and Information
Company name must be displayed outside the registered office, on company documents, and official stationery. Printed materials must include CIN, registered office address, phone/email, and website if any.
Payment of Stamp Duty on Share Certificates
Stamp duty on issued share certificates must be paid within 30 days of issuance as per the applicable state Stamp Act.
Note: Failure to comply with any of these obligations may lead to penalties, disqualification of directors, or even removal of the company from the Registrar of Companies (ROC).
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To register an online private limited company it takes the following steps, to obtain DSC and DIN, to get the name approved, submitting the incorporation document to the MCA and getting the Certificate of Incorporation.
The documents required are PAN, Aadhaar, address proof of directors, passport-sized photographs and evidence on registered office address.
No, you can register it fully with a residential address subject to the provision of a valid address proof and a NOC issued by the owner.
Yes, you can register a One Person Company (OPC) with a single shareholder and director, provided the person is an Indian resident.