A private limited company is registered with the Ministry of Corporate Affairs under the Companies Act, 2013, using the SPICe+ web form. You need at least two directors and two shareholders (up to 200 members), with at least one director resident in India, digital signatures for the directors, and a registered office address. There is no minimum paid-up capital. SPICe+ also gives you the company's PAN and TAN, and can include GST, EPFO, ESIC and a bank account.
Why exporters choose a private limited company
- Separate legal entity with limited liability for shareholders
- Easier to raise funding and add shareholders
- Better credibility with overseas buyers, banks and marketplaces
- Perpetual existence, independent of changes in ownership
Requirements
- At least two directors, one of whom has stayed in India for at least 182 days in the previous year
- At least two shareholders; directors can also be shareholders
- A unique name that is not identical to an existing company or trademark
- A registered office address in India
Documents you need
- PAN and Aadhaar of Indian directors and shareholders; passport and address proof for foreign nationals
- Digital signature certificates (DSC) for the directors
- Proof of registered office: utility bill and rent agreement or ownership proof, with a no-objection letter from the owner
- Passport-size photographs and contact details of directors
How to register, step by step
- Get DSCs for the directorsDigital signatures are needed to sign the incorporation forms.
- Reserve the nameApply for the name in SPICe+ Part A, or reserve it while filing the full form.
- File SPICe+ Part BEnter capital, directors, shareholders and office details. DIN for new directors is allotted through the form.
- Attach e-MoA and e-AoAFile the memorandum and articles of association electronically with the form.
- Add linked registrationsApply for PAN, TAN, and optionally GSTIN, EPFO, ESIC and a bank account in the same application.
- Receive the Certificate of IncorporationIt shows the company's CIN, PAN and TAN.
First compliances after incorporation
- Open the bank account and deposit share capital
- File the declaration for commencement of business within 180 days of incorporation
- Appoint the first auditor within 30 days
- Hold board meetings and file annual returns and financial statements every year
- Apply for IEC before your first export
Frequently asked questions
How many directors are needed for a private limited company?
At least two, with at least one director resident in India. The company can have up to 15 directors without special approval.
Is there a minimum capital for a private limited company?
No. There is no minimum paid-up capital requirement.
What is SPICe+?
The integrated MCA web form for incorporating a company, which also covers name reservation, DIN, PAN, TAN and optional registrations such as GST and EPFO.
Can a foreign national be a director?
Yes, as long as at least one director is resident in India.
How BuyGenix Solutions helps
We help you choose the right structure, prepare and file the registration, and set up the registrations an exporter needs next, such as GST, IEC and MSME Udyam. BuyGenix members can also see live buyer requirements from importers in India and abroad.
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BuyGenix Solutions handles private limited company registration and every related registration your business needs, from documentation to filing.
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