A private limited firm is a firm which is privately held for small businesses, the liability of the members of a Private Limited Firm is limited to the amount of shares respectively held by them. Shares of Private Limited Firm cannot be traded in public.
Private limited company registration is governed by the Companies Act of 2013 and the Companies Incorporation Rules of 2014.
Minimum of 2 shareholders and 2 directors are required to register a Private Limited Firm.
We at AAATechs help our clients to start their business as Private Limited Firm and guide them.
AAA Techs Services Pvt. Ltd. also provides counseling services to our clients about necessary things.
Requirements for starting a Private Limited Firm:
- Minimum of 2 people are required to act as directors of the Firm.
- Minimum number of two and a maximum of 200 members or shareholders are required to start a Private Limited Firm.
- Minimum of 2 directors and maximum of 15 directors in the Firm.
- At least one of the directors of the Private Limited Firm must be a citizen of India.
- The other directors could be foreign national.
- At least 2 people should act as shareholders.
Name plays a vital role in presenting the organisation or business, the name of the firm must contain 3 parts name, activity and private limited company. It is compulsory for all Private Limited firms to use Private Limited at the end of name of the company. The firm has to send 5 to 6 names for approval to the register of the company and all names should be rare and meaningful. Name of the company must be chosen wisely as it will remain representing the company for years.
In a public company ownership of the share can be sold to the public in the open market whereas, in a private company shares can be transferred or sold to the people by the choice of their owner. Which means there is less confusion and complexion in making decision.
Confidential information could be easily kept private in a private firm rather than a public company. It is not safe for your company to get their private information, legal settlements and other stuff to get leaked in public which results in your competitors leaving you behind.
Legal formalities are sometimes very expensive and time-consuming, but AAATechs got you covered by providing their best service which is cost effective, less hustle free and time saving. We are here to help you with our team of experienced professionals who are ready to help, guide and counsel you regarding your doubts and quarries.