PVT Limited company registration in Punjab

Overview

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.

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.

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:

• 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