Description
Private Limited Company-Mizoram
A Private Limited Company (PLC) is a popular business structure in India, including Mizoram, offering limited liability and separate legal entity status. Here’s a comprehensive guide to forming a PLC in Mizoram:
1. Name Approval:
- Unique Name: Choose a unique name that isn’t similar to existing company names.
- Name Reservation: Reserve the name with the Registrar of Companies (RoC). This can be done online through the Ministry of Corporate Affairs (MCA) portal.
2. Digital Signature Certificate (DSC):
- Obtain DSC: Obtain a Class II or III DSC for all directors and subscribers. This digital signature is essential for filing documents online.
3. Director Identification Number (DIN):
- DIN Application: Apply for a DIN for each director. This involves submitting a DIR-3 form to the MCA.
4. 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 governing the company’s operations.
- Declaration of Directors: A declaration signed by all directors confirming compliance with the Companies Act, 2013.
- Consent to Act as Director: A consent letter from each director agreeing to act as a director.
- Proof of Identity and Address: Identity and address proof of directors and subscribers.
- PAN and Aadhaar Card: PAN and Aadhaar card copies of directors and subscribers.
- NOC from Property Owner: If using a rented property as the registered office, a No Objection Certificate (NOC) from the property owner is required.
5. SPICe+ Form Filing:
- Online Filing: File the SPICe+ form on the MCA portal. This form combines multiple forms into one, simplifying the incorporation process.
- Payment of Fees: Pay the necessary incorporation fees online.
6. Certificate of Incorporation (CoI):
- Issuance of CoI: Upon successful verification of documents and fee payment, the RoC issues the CoI. This certifies the company’s legal existence.
7. Post-Incorporation Compliance:
- Bank Account Opening: Open a bank account in the company’s name.
- Obtaining PAN: Apply for a PAN card for the company.
- GST Registration: If applicable, register for GST.
- Professional Tax Registration: Register for professional tax in the respective state.
- Employee Provident Fund (EPF) and Employees’ State Insurance (ESI) Registration: Register for EPF and ESI if applicable.
Additional Considerations:
- Professional Assistance: Consider hiring a professional like a Chartered Accountant or Company Secretary to guide the process and ensure compliance.
- Timeframe: The entire process can take around 7-10 working days.
- Government Fees: The government fees vary based on the authorized share capital.
- Stamp Duty: Stamp duty is applicable on the Memorandum of Association and Articles of Association.
Key Benefits of a Private Limited Company in Mizoram:
- Limited Liability: Shareholders’ liability is limited to their investment.
- Separate Legal Entity: The company is a separate legal entity from its owners.
- Perpetual Succession: The company continues to exist even if shareholders change.
- Ease of Raising Funds: Easier to raise funds through equity or debt.
- Credibility and Trust: A PLC is perceived as a more credible and trustworthy business structure.
By following these steps and considering professional guidance, you can successfully form a Private Limited Company in Mizoram and embark on your entrepreneurial journey.
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