Private Limited Company Registration in India, Patna is a process that involves obtaining a unique name for the company, filing the necessary documents with the Ministry of Corporate Affairs (MCA), and paying the required fees. The process can be completed online or through a professional service provider. Once the company is registered, it is considered a separate legal entity from its owners and has limited liability. This means that the owners' personal assets are protected from the company's debts and liabilities.
If you are looking to register a PVT ltd company online in Patna you should know about the benefits, documents, eligibility, basic requirements, types of business entities, business compliance, business registration services, faqs and why Vakilsearch is the best choice to form a company incorporation in Patna.
Private Limited Company Registration in Patna - Overview
Private limited company registration in India allows for the appointment of a minimum of 2 directors and a maximum of 15 directors. In Patna, to register a private Limited Company is exempt from any minimum paid-up capital requirement, although it is mandatory to append ‘PVT. Ltd’ to the company name.
For those seeking to register a PVT limited company in Patna, it is noteworthy that a minimum of 2 directors, who must be Indian residents, is a prerequisite. Additionally, there should be a minimum of 2 shareholders and a maximum of 200 shareholders. To initiate the registration process in Patna, the government requires fees to be paid for a minimum of shares amounting to ₹1 Lakh. Vakilsearch can make the process of business registration in Patna smooth and hassle-free.
Did You Know?
Patna ranks as the 21st swiftest-expanding city globally and holds the fifth position among the fastest-growing cities in India, with an anticipated average annual growth rate of 3.72%.
Benefits of Registering a Private Limited Company in Patna
Growing Economy of Patna
Since 2005, Patna's economy has experienced continuous growth, driven by the expansion of the Fast-Moving Consumer Goods industry, the service sector, and businesses related to the Green Revolution. Notably, in 2009, the World Bank ranked Patna as the second-best city in India for initiating a business.
Protect Your Finances
When you want to register a private limited company, limited liability partnership (LLP), or one-person company (OPC), you limit your personal liability for the company's debts. This shields your personal assets from legal disputes or financial challenges.
Create a Legal Entity
Registering as a private limited company, LLP, or OPC establishes a distinct legal identity for your business, separate from its owners. This legal separation allows your company to own property, engage in contracts, take legal action, and continue its existence independently.
Facilitate Funding
Choosing a private limited company, LLP, or OPC status provides access to diverse funding sources like equity, debt, angel investors, venture capitalists, and financial institutions. You can issue shares and debentures, even attracting public capital.
Tax Advantages
Opting for any company registration in Patna or startup registration in Patna offers various tax benefits and exemptions under the Income Tax Act, of 1961. This includes deductions for business-related expenses, depreciation on assets, and favourable corporate tax rates compared to other business structures.
Latest Update
According to State Finance Minister Vijay Choudhary, Bihar has secured the third position in the country in terms of economic development. Mr. Choudhary also pointed fingers at the Union government, alleging reductions in grants for centrally sponsored schemes.
Documents Required to Register a Company in Patna
The following documents of all directors and shareholders should be submitted for PVT limited company registration:
- PAN card
- Aadhaar card
- Passport (if foreign national)
- Photograph
- Proof of identity (e.g., voter ID card, driving license)
- Proof of address (e.g., bank statement, utility bill)
- Proof of educational qualification (e.g., degree certificate)
- For the registered office, provide:
- Proof of ownership (e.g., sale deed, lease deed, rent agreement)
- Proof of occupancy (e.g., electricity bill, water bill, property tax receipt)
- No objection certificate (NOC) from the owner or landlord.
Basic Requirements for Online Private Company Registration in Patna
- Directors and membership requirements
- Company Name selection
- Registered office address
- Obtaining additional documents
- Digital signature certificate (DSC)
- Director identification number (DIN)
- Name approval
- Memorandum of association (MoA) And articles of association (AoA)
- Address proof and identity proof
- Registered office proof
Types of Business Entities for Company Registration in Patna
Step-by-Step Guide to Register a Private Limited Company Online in Patna
Vakilsearch offers a simple en route for PVT limited company registration in Patna. We get it done in just 4 easy steps:
Step 1: Collecting Initial Documents
Our team will gather all the necessary documents and get them verified for the incorporation process
Step 2: DSC and Name Approval
On your behalf, we will apply for a Digital Signature Certificate (DSC) and seek approval for your company name from MCA
Step 3: Drafting MOA and AOA and Filling with ROC
Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) for your company and Upload the completed documents and forms for the final stage of company incorporation
Step 4: Procure Company Incorporation Certificate
Our team will initiate the registration process with the government authorities. They will further review the documents and will approve the company registration. Post approval you will be provided a company registration certificate directly
Note: All the documents should be submitted within a time frame and accurate as per the gov guidelines to avoid delay. The certificate of incorporation will be delivered directly by the MCA and Vakilsearch will initiate and guide the process.
Our Online Services to Register a Private Limited Company Online in Patna
Registering a PVT limited company online in Patna is now easy with our expertise. Start a business in Patna compliant with state rules and regulations. You require,
- DIN and DSC for two Directors
- Drafting of MoA & AoA
- Registration fees and stamp duty
- Company incorporation certificate
- Company PAN and TAN
- A current account with zero balance, powered by DBS bank
Just follow these steps, and you'll be on your way to creating your own private limited company. It's a good idea to get advice from professionals to make smart choices and make sure your company grows smoothly.
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