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Private Limited Company (Pvt. Ltd)

A lot of aspiring entrepreneurs often hit a stumbling block when it comes to registering their company as a private limited enterprise. Many questions such as the legalities involved, the proper documentation, fees etc.
As a prerequisite for setting up a private limited company, you are required to have a minimum paid-up capital of Rs 1 lakh.

Following is the features of Private limited company:

Restricts the right to transfer its shares, if any;
For calculating the number of members, joint holders of shares are counted as single member and the members who are employees of the company including those who continue to be members after their employment ceased are excluded.
Prohibits any invitation to the public to subscribe for any shares in, or debentures of the company; and
Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives.
It can be registered with a minimum number of 2 members and cannot have more than 50 members (excluding employee and ex-employee members).
It cannot invite the public to subscribe to its share capital and has to obtain capital by private arrangement.
It cannot allow free transfer of its shares.
It's shares are not quoted on a recognised stock exchange.
It cannot invite or accept deposits from persons other than its members, directors or their relatives.
Any number of employees of a private company can become its members and their number is not counted for the purpose of maximum number of members even when the employees have left the company on retirement or otherwise.
It can commence business immediately on incorporation.

The process of legally declaring a corporate entity as separate from its owners. Incorporation has many advantages for a business and its owners, including:

• Protects the owner's assets against the company's liabilities
• Allows for easy transfer of ownership to another party
• Achieves a lower tax rate than on personal income
• Receives more lenient tax restrictions on loss carry forwards
• Can raise capital through the sale of stock

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