Company Registration in Patna
If you are planning to start your business in Patna, then the first and the foremost recommendation is to go for the desired Company structure suitable to your needs. A right business structure is essential for effective management, compliance and tax optimisation. Various structures available for doing business in Patna include Public Limited Company, Private Company, Limited Liability Partnership, One Person Company and Section 8 Company
Minuimum Requirements for Company Registration in Patna
Minimum 2 shareholders
One of the Directors must be Indian Resident
DSC(Digital Signature Certificate) for two directors
Minimum 2 Directors
No Minimum Authorised Share Captial
The directors and the shareholders can be same person
DIN(Director Identification number) for 2 Directors
Documents Required for Company Registration
- Copy of PAN (in case of resident); OR PAN Declaration (in case of Non Resident)
- Copy of Passport (in case of non-resident);
- Declaration in Form INC-9 for First Directors*
- Copy of proof of identity(Voters ID/Driving License/Passport);
- Copy of residential proof (Bank Statement/Telephone Bill/ Mobile Bill/ Gas Bill not older than 2 months);
- Consent to act as directors*;
- Disclosure of interest in other entities*;
From Directors sdsd
- Copy of Sale deed/ Property Deed (in case of owned property) or Lease Deed (in case of rented premises);
- Copy of Telephone or Mobile/Electricity or Gas Bill of registered office (Any one, not older than 2 months) ;
- No-objection Certificate from the owner of the premises for its use as registered office*;
- Memorandum and Articles of Association*
- Copy of PAN (in case of resident);
- Copy of Passport (in case of non-resident);
- Copy of proof of identity (Voter\'s ID/Driving License/Passport);
- Copy of residential proof (Bank Statement/ Telephone Bill/ Mobile Bill/Gas Bill not older than 2 months);
Note 1: In case of foreign directors/subscribers, all the aforesaid documents should be notarized and apostilled or consularized. In case documents are not in english, translated copy in english should be notarized and apostiled or consularized. please read the attestation requirements of documents below in FAQs
Note 2: *Draft will be provided by our team
Note 3: Following additional documents will be required in case the subscriber of the company to be incorporated is another company: â€¢ Copy of resolution passed by the subscriber company; â€¢ Certificate of Incorporation of the Subscriber Company.
Types and Requirement for Company Registration in Patna
Advantages of a Private Limited Company Formation
Separate Legal entity
As a juristic legal person, both the company and its members have separate legal identity that is distinct from each other.
A company existence is uninterrupted, even the death or insolvency of shareholder(s)/ directors cannot affect the continuity of business of the company.
The liability of members of a private limited company is limited to the amount of share capital remaining unpaid on the shares held by them.
Easy transferability of ownership
The ownership in a private limited company is easily transferable by way of transfer of shares from one member to another subject to the restriction that the total number of members of a private limited company cannot exceed 200.
In Private Limited Comapny, 100% Foreign Direct Investment is allowed that means any foreign entity or foregin person can directly invest in a Private Limited Company.
The particulars of the company are the available on a public database. Which improves the cerdibility of the company as it makes it easy to authenticate the details.
Frequently Asked Questions
How much time does it take to register a Company in Patna?
It takes around 8-10 business days to get a Company registered in Patna, Bihar. However, the timeline may vary depending upon the structure of the Company.
Can a foreigner register a Company in Patna?
Yes, a foreigner can register a Company in Patna. The only mandatory requirement is to have at least one resident director on the Board and to have a registered office in India.
How long does the incorporation of a Company remain valid?
Once a Company is incorporated, it will be active and in-existence until you liquidate it either by striking-off or winding up.
Can a Minor be appointed as a Director in the Company?
The minor shall not be appointed as director of the company. He needs to be over 18 years of age and must be a natural person.
What is DIN?
DIN is a unique identification number assigned to all existing and proposed Directors of a Company. Before a person gets appointed as a Director, he must obtain a valid DIN. DIN never expires and a person can possess only one DIN.
What is a Digital Signature Certificate?
Digital Signature Certificate (DSC) establishes the identity of the signee electronically while filing documents. The Ministry of Corporate Affairs (MCA) mandates that e-form(s) submitted on the MCA portal are digitally signed using DSC.
Can Directors and Shareholders be the same?
Yes, the Directors and Shareholders can be the same.
Can a non-resident be a director of an Indian Company?
Yes, a non-resident can become a director in an Indian Company if he possesses the required documents and one resident director is already on the board.
How can I check the authenticity of a Company in India using its registration number?
You can check the authenticity of companies by visiting the portal of the Ministry of corporate Affairs.(www.mca.gov.in) Go to MCA services and click on View Company or LLP Master Data to check the master data of companies. Just enter the name of the company and get the required information like CIN No., directors’ name and DIN number, Company formation date, Share capital, email address, address etc.
What is the minimum statutory compliance of a Company in India?
A company must hold a minimum of four Board Meetings every year in such a manner that not more than 120 days shall intervene between two consecutive meetings. In addition to the Board Meetings, an Annual General Meeting must be conducted at least once every year.
Further, every Director of the Company holding a valid DIN as on 31st March of a financial year shall submit Form DIR-3 KYC with the Registrar of Companies. The above compliances are in addition to filing of Form AOC-4 and MGT-7 with the Registrar of Companies.