With the manufacturing of automobiles and the business of textiles, Punjab is one of the fastest-growing states in India. Read to find out more about registration in Punjab!
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Overview
Benefits
Documents Required
Basic Requirements to Register
Types of Business Entities
Step-by-Step Guide to Register
Business Compliance
Why Vakilsearch
FAQs
Private Limited Company Registration in India, Punjab 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 Punjab 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 Punjab.
Private Limited Company Registration in Punjab- Overview
Private Limited Company Registration in Punjab is a simple process that can be completed online. For Business registration in Punjab, applicants must first submit an application for name reservation with the Ministry of Corporate Affairs (MCA). The process involves name approval, application submission, drafting the company's Memorandum of Association (MoA), Articles of Association (AoA), and Director Identification Number (DIN) for each proposed director. The MCA will then review the application and, if everything is in order, the government authorities will issue a certificate of incorporation. Vakilsearch can easily complete the startup registration in Punjab in a hassle free manner. Our experts complete the whole process in 4 easy steps.
Did You Know According to the Ministry of Corporate Affairs (MCA), as at 31 August 2022, there were a total of 1,31,115 companies registered in Punjab, India, out of which 4,374 companies were limited by guarantee, New companies registered in July 2022 were 3,745. Paid up share capital of all registered companies in Punjab was ₹696.934 crore.
Benefits of PVT Limited Company Registration in Punjab
Supporting Government Schemes : The Punjab government launched the Punjab Rozgar Scheme in October 2020 as a flagship initiative. It offers SMEs, or startups and existing businesses, subsidised credit facilities from ₹100,000 to ₹10.00 million on subsidised rate of markup, i.e. 4% & 5% p.a. through partnerships with commercial banks.
Tax Benefits: Companies registered in Punjab can benefit from diverse tax advantages, including reduced tax rates and deductions on specific expenditures. These incentives have the potential to notably alleviate the overall tax liability for both the company and its shareholders.
Separate Legal Entity: PVT Ltd registration in Punjab grants the business a separate legal identity, distinct from its owners. This separation of personal and professional affairs provides several advantages, including enhanced credibility and ease of raising capital.
Perpetual Succession: Unlike proprietorships or partnerships, which cease to exist upon the death or incapacitation of a partner, registered companies in Punjab enjoy perpetual succession. This ensures that the business continues to operate indefinitely, regardless of changes in ownership or management
Enhanced Brand Recognition: Registering a PVT Ltd company in Punjab lends legitimacy and professionalism to the business, fostering trust and recognition among customers, partners, and investors. This can lead to increased business opportunities and a stronger brand reputation.
Documents Required to Register a Private Limited Company in Punjab
PAN cards of all designated directors and shareholders
Identification proofs, such as Aadhaar card, Voter ID, Passport, or Driving License, for all designated directors and shareholders
Address proofs (like bank statements, telephone bills, mobile bills, or electricity bills) for all designated directors and shareholders
Recent passport-sized photographs for each individual
A business address rental agreement registered under the business's name
The most recent electricity bill demonstrating the business address
A no objection certificate issued by the owner of the business premises.
Basic Requirements to Register a Private limited Company Online in Punjab
At least two directors and two shareholders
Directors must be Indian citizens or hold an OCI/PIO card
Shareholders can be individuals or corporate entities
PAN card and Aadhaar card for all directors and shareholders
Passport and address proof for foreign nationals
Registered office address proof (rent agreement or NOC
Utility bills (electricity, water, or gas bill) for all directors and shareholders
Director Identification Number (DIN) for all directors
Digital Signature Certificate (DSC) for all directors.
Types of Business Entities for Company Registration in Punjab
Sole Proprietorship
Partnership Firm
One Person Company (OPC)
Private Limited Company (Pvt Ltd)
Limited Liability Partnership (LLP)
Public Limited Company (Ltd)
Step-by-Step Guide to Register a PVT Limited Company in Punjab
Vakilsearch offers a simple en route to register your company in Punjab. We get the registration process in Punjab 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 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 government guidelines to avoid delay. The certificate of incorporation will be delivered directly by the MCA and Vakilsearch will initiate and guide and the process
Business Compliance in Punjab
Business compliance in Punjab involves adherence to local, state, and national regulations governing operations, taxation, licenses, and statutory requirements. Additionally, businesses must maintain accurate records, ensure transparency, and fulfill regulatory obligations to operate legally in Punjab. Our team of experts can help you stay on point with your annual business compliance.
ADT -1 - Appointment of Auditor
INC 20A - Certificate of Commencement of Business
AOC 4 - Filing of financial statements
MGT 7 - Filing of annual returns
DIR 3 KYC - Directors KYC
DPT 3 - Return of Deposits
Our Online Company Registration Services in Punjab
Vakilsearch offers a completely online private limited company registration process, allowing you to register your entity without leaving the comfort of your home. Our experts can complete the entire company incorporation process in 4 steps. Vakilsearch company registration package includes:
A current account with zero balance, powered by DBS bank
FAQ's on PVT Limited company registration in Punjab
No, a local agent isn't mandatory. However, having a local representative can facilitate communication and streamline processes with government authorities during registration, but it's not a compulsory requirement.
Tax implications involve corporate tax, GST, and other levies. Punjab generally follows national tax structures. Consult a tax professional to understand specifics like local taxes, incentives, and exemptions for businesses in the state.
The costs vary based on company type, authorised capital, and professional service fees. For more tailor made information get in touch with our experts now.
Company registration in Punjab timelines depend on various factors like document preparation, government processing, and verification.
Specific licenses vary by industry. Generally, businesses may require trade licenses, GST registration, environmental clearances, health permits, and local municipal permits. Consult industry-specific guidelines and authorities for comprehensive licensing requirements in Punjab.
No, within 30 days of incorporation, a physical address within Punjab is mandatory. Virtual offices or co-working spaces are acceptable alternatives to meet this requirement.
Yes, foreign nationals can serve as directors in Punjab registered companies. They need a valid passport and can obtain a Director Identification Number (DIN) to manage or operate the business within legal provisions and compliance guidelines.
In Punjab, a company's registration requires the residency of at least one Indian director. A person who spent at least 182 days living in India during the preceding calendar year is considered an Indian resident.
Following registration, businesses must comply with a number of requirements, such as opening a bank account, acquiring a PAN, registering for GST (Goods and Services Tax), and keeping statutory records and yearly filings.
Yes, the registered office address can be changed after registration. The company must follow legal procedures, notify concerned authorities, and update records with the Ministry of Corporate Affairs (MCA) within prescribed timelines to effectuate the change.
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