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Private Limited Company Registration in Gujarat – A Complete Overview

Private Limited Company Registration in Gujarat

If one wants to start any kind of business in India, he or she has to register his or her entity. Under Companies Act, 2013 there are many kinds of entities; Private Limited Company is one of them. In this blog we are particularly going to learn about company registration in Gujarat.  For different states there are different government fees but the processor and platform for company registration is same. One can easily enquire about fees on the Ministry of Corporate Affair website.  Company registration in Gujarat needs a lot of formalities to be done. Although everything is available online, one needs to take help of professionals to do company registration.  In case you have any doubt regarding company registration in Gujarat, you can directly contact BizAdvisors. They are legal consultant, who has a very experienced team of experts. They will solve every problem of yours regarding company registration in Gujarat. Good thing about them is that they do not charge any fees for advice. Once you take their service then you have to pay.  

What is Company Registration in Gujarat?  

Company registration in Gujarat means you are registering your company with the help of Ministry of Corporate Affairs, by following all the rules and procedure in the state of Gujarat.  By registering your company you file all the required documents with the SEC before the initial public offering, which gives security to your investors. The two very important components of the company registration in Gujarat are prospectus for investors and filings for SEC.  

Eligibility for Company Registration in Gujarat  

Following are the things which make you eligible to do company registration in Gujarat-  

  • There must be minimum two directors  
  • There must be minimum two shareholders  
  • Out of all the directors of the company, one must be Indian resident 
  • Minimum authorized capital must be 1 lakh 
  • Digital Signature Certificate and Directors Identification Number of the directors is needed  

Documents Related to Company in Gujarat  

Following are the documents related to Private Limited Company in Gujarat-  

  1. Memorandum of Association (MOA) 
  2. Articles of Association (AOA)  
  3. Certificate of Incorporation (COI)  
  4. PAN  
  5. TAN  
  6. Digital Signature Certificate (DSC) 
  7. Director Identification Number (DIN)  

Procedure to get Private Limited Company Registration in Gujarat  

Following is the step-by-step procedure to get company registration in Gujarat-  

Collect all the Documents and Details of the Directors 

  • Aadhar Card 
  • PAN Card  
  • Photograph  
  • Bank Account Details  
  • GST Registration  
  • Business Address Proof  
  • E-mail Address  
  • Contact Details  

Name Approval  

Whatever name you want to give your company it will be approved by the Ministry of Corporate Affair through SPICEe Part A.  Fees for the name approval of the company are one thousand rupees. In this fee four names can be given. If these four names are already there then again same fees have to paid for the same process. Hence always take help of experts while doing name approval.  

Company Incorporation 

Once the name of the company is approved by the MCA then through various forms like INC-35, INC-33, INC-34 and INC-9, company incorporation has been done. All these forms have different purpose like INC-33 is for MOA, INC-34 is for AOA and INC-9 is for declaration of subscribers and first directors.  After all these a company has been incorporated in Gujarat.  

Benefits 

There are many advantages of company registration in Gujarat, given below are some of them-  

  1. Reliability  

When you registered your company as Private Limited Company, it will be available on Ministry of Corporate Affair’s website. This will automatically increase the reliability of your company in the market. Customer can believe in your business easily and this way your company can grow more rapidly.  

  1. Liability  

When you are a registered company with Ministry of Corporate Affair your liability towards the company, government and customer will increase automatically. Private Limited Company registration in Gujarat not only comes with reliability but also with liability. Hence it is beneficial for both the customers and the company.  

  1. Goodwill 

When your customer or client came to know about that your company is directly or indirectly affiliated with the government through Ministry of Corporate Affair, it will create goodwill among them. And this goodwill plays a very big role in the success of any kind of business in the market.  

  1. Government Affiliation 

When a company got registration as a Private Limited Company, then it will be registered on the Ministry of Corporate Affair’s website. And this way directly or indirectly your company got government affiliation. Also a Private Limited Company has to complete its compliances regularly. Non completion of the compliances can result into heavy penalties and fines. This way government has full check on the activities of the Private Limited Company.  

  1. Trust  

In the above mentioned point, that is “Government Affiliation”, it has been very clear how government can keep eyes on the Private Limited Companies through the compliances. This is the reason Private Limited Companies are trustworthy.  

  1. Distinct Legal Entity 

The most important thing about Private Limited Company is that it has been treated as Legal Person. It means company can be liable for its actions, debts and liabilities. Owners can limit their liabilities to their capital contribution, if they register a company. Their personal assets are protected from any kind of loss or debts which has been faced by the company. It is not like proprietorship or partnership firm where debts and liabilities came on the shoulders of the owners or partners.  

  1. Separate Legal Existence 

Private Limited Company is considered as artificial person as per the Companies Act, 2013[1]. Basically it means a company is a legal person who can take its action and can be held liable for the same. It enjoys the separate identity from its owners. It can be sued, or it can sue anybody. Private Limited Company can enter into contracts on its own name. Its existence is perpetual.  

  1. Quality Management  

In a company it is very clear that shareholders are the actual owners of the company and directors are the one who helps in running the company. This clarity helps in the professional management of the company.   

  1. Fund Raising  

When you are a registered Private Limited Company, fund raising becomes very easy for you. Banks always prefer to give loans to Private Limited Companies over Limited Liability Partnerships, proprietors or partnership firms. Big investor like private equity firms, venture capitalists and HNIs mostly prefers Private Limited Companies to invest.  

  1. Tax Savings  

There are many ways, through which one can save its tax as a Private Limited Company.  Private Limited Companies are taxed at a rate of 22% with a surcharge of 10% and cess of 4% which makes the effective tax rate as 25.17% which is lessor than the LLP’S whose tax rate is 30%.  Also there are many charges which considers as expenses like director’s salary and money involved in the formation of company’s documents like MOA, AOA, etc. One can save tax on such expenses as well.  

Conclusion  

To incorporate Private Limited Company in any part of India process is same. Only difference occurs in the stamp duty of the company. Same applies on the company registration in Gujarat. One can check the stamp duty for the company registration in Gujarat with the help of Ministry of Corporate Affair. In case you find any difficulty while registration you can directly call the customer care no. which is given on MCA, they will help you. One more thing which you can do to avoid this hectic process of company registration, take help of BizAdvisors. They will make your work very easy with the help of their experts. 

Read our article:Private Limited Company Registration in Madhya Pradesh – A Complete Process

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