1. Members and Directors
i) A minimum of two (2) subscribers to the Memorandum of Association
i) A minimum of two (2) directors out of which one (1) should be a Resident of India and a maximum of fifteen (15) directors.
ii) A minimum of two (2) shareholders/ members and a maximum of 200
shareholders as required.
iii) Authorised Capital - No Minimum Requirements
iv) Paid Up Capital - No Minimum Requirements
v) All the Directors should obtain a Director Identification Number (DIN)
vi) All subscribers should obtain a Digital Signature (DSC)
2. Name of the Company
The name of your company is very important and should be one which adds on a positive/weightage impression to the company and its operations.
Naming your new company can be an exciting yet challenging task. However, it is vital to follow a few naming guidelines set by the Registrar of Companies (ROC) while selecting a name for your new company.
Follow the rules and get your company name approved in no time.
Preferred Format accepted by the MCA
- Unique Company + Description + Private Limited
Unique Component
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For instance, in Targo Legal Private Limited, Targo Legal is a unique component. After you have come up with a name, you need to ensure that no other company has been registered with a similar name. While searching for your unique component, think creatively.
- In the case of unique components, abbreviations, adjectives and generic words are not allowed. For e.g; the names like BBC or XYZ would be easily rejected.
Descriptive Name
From the above example, Targo Legal comes under the consulting category. The descriptive name depends on the type of business.
Check the availability of the company name
Your company name should be unique and needs to get approval from the ROC. Search for a unique name for your company.
Check for a trademark, if any
It is impossible to register your company name if there is an existing trademark with a similar name.
List of things to consider when selecting a company name
Choose a unique name and not an undesirable name
Ensure that the name is not generic
Do not use abbreviations in the name
Do not include the country’s name
Do not use a name that is associated with the foreign government.
Choosing the name of the company is often a technical task. A private limited company is required to cover three aspects while deciding a name for itself:
- Main name
- Activity to be carried out
- Mention of ‘Private Limited Company’ at the end.
Pro tip: It is not always necessary that the name the business owner is looking for will be available, as no two companies can have the same name. Therefore, it is a requirement that at the time of registration, every company has to send 5-6 names for approval to the Registrar of Company (ROC). Moreover, the submitted names should not have a close resemblance with any other company’s name.
3. Registered Office Address
After registration of the company, the next step is to file the permanent address of its registered office with the registrar of the company (ROC). The registered office of the company is where the company’s main affairs are being conducted and where all the documents are placed.
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