Private Limited Company-Jammu & Kashmir (Upto 1 Lac Capital)(Excluding Goverment fees)

8,700.00

Description

Image of Priate limited company jamu And kashmir

Private Limited Company-Jammu & Kashmir

Private Limited Company Formation

Understanding the Basics

A Private Limited Company (PLC) is a popular business structure in India, including Jammu and Kashmir. It offers limited liability, separate legal entity status, and a clear structure for business operations.

Key Requirements for PLC Formation

Before embarking on the formation process, ensure you meet the following criteria:

  • Minimum Shareholders: At least two shareholders are required.
  • Minimum Directors: At least two directors are necessary.
  • DIN (Director Identification Number): All directors must possess a DIN.
  • Minimum Share Capital: A minimum share capital of Rs. 1 lakh is mandatory.
  • Resident Director: At least one director must be a resident of India.

Step-by-Step Process

  1. Digital Signature Certificates (DSC)

    • Obtain DSCs for all directors and the company secretary (if applicable). These are digital signatures used for electronic filing.
  2. Director Identification Number (DIN)

    • Apply for DINs for all directors who do not already have them. This involves submitting necessary documents like identity proof, address proof, and photographs.
  3. Name Approval

    • Choose a unique name for your company.
    • File a Spice INC-32 form with the Registrar of Companies (RoC) to reserve the name.
    • The RoC will verify the name and approve or reject it within a few days.
  4. Preparation of Incorporation Documents

    • Memorandum of Association (MoA): This document outlines the company’s objectives, registered office address, and share capital.
    • Articles of Association (AoA): This document details the internal rules and regulations of the company, such as the powers and duties of directors, shareholders’ rights, and meeting procedures.
  5. Filing Incorporation Documents

    • File the following documents with the RoC through the SPICe+ form:
      • MoA and AoA
      • Declaration by Directors
      • Affidavit of Consent by Directors
      • Identity and Address Proof of Directors
      • NOC from the property owner for the registered office address
      • Payment of incorporation fees
  6. Certificate of Incorporation

    • Upon successful verification, the RoC will issue a Certificate of Incorporation, signifying the company’s legal existence.

Additional Considerations

  • Registered Office: Ensure you have a physical office address in Jammu and Kashmir.
  • Bank Account Opening: Open a current account in the company’s name.
  • GST Registration: If your business is liable for GST, obtain a GSTIN.
  • Professional Tax Registration: Register for professional tax in the state of Jammu and Kashmir.
  • Other Licenses and Permits: Depending on your business activities, you may need additional licenses and permits from relevant authorities.

Timeframe

The entire process, from name approval to certificate issuance, typically takes around 7-10 working days.

Professional Assistance

While it’s possible to handle the incorporation process independently, seeking professional assistance from a company secretary or a legal firm can streamline the process and ensure compliance with all legal requirements.

Conclusion

Forming a Private Limited Company in Jammu and Kashmir is a straightforward process when you follow the outlined steps and comply with the necessary regulations. By carefully planning and executing the process, you can establish a solid foundation for your business in the region.

Disclaimer: This information is intended to provide a general overview of the process and should not be construed as legal advice. It is recommended to consult with a legal professional to address specific legal and tax implications related to your business.

 

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