Every private limited company must have minimum of 2 members and maximum of 200 members. The name of the company with the last word “Private Limited “in the case of a private limited company. All private limited companies having paid up share capital of Rs.20 crores.
Private limited company must have minimum 2 directors. The maximum number of directors for a private limited company is 15 directors. The Articles of Association (AOA) of a private limited company restrict the transfer of shares. A private limited company may start their business immediately on incorporation.
A company is maintaining the liability of its members limited by the memorandum to the amount. If any, unpaid on the shares respectively held by them.
Means a company is maintain the liability of its members limited by the memorandum to such amounts as the members may particularly manage and contribute to the assets of the company.
A company is not owning any limit on the liability of its members is named as an “Unlimited Company”. The members of an unlimited company are fully liable for all debts of the company. An unlimited companies may or may not have a share capital.
A private limited company is examined as a separate legal entity. This private limited company has own identity and acknowledged as a separate company under law.
The private limited company has the greatest benefit of its limited liability. The liabilities are limited to their shares only. This company feature protects the income of shareholders and personal assets at times of any financial critical points faced by the company.
The private limited companies can pay tax on taxable profits and they are exceptedfrom high personal income tax rates.
Only two shareholders and two members are need to incorporate a private limited company. This gives many Entrepreneurs as a chance to set up their new own company.
A person can act as a shareholder, a director and an employee at the same time, when private limited company is taken into examinations. They are considered as valid too. Solubilis Corporate Services LLP is the Leading Professional firm assist you in registering Company. We register a private limited company registration within 12 working days.