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By registering as a PLC in India, owners can limit their liabilities to their capital contribution commitment. Their personal assets are protected from any major loss or debt in the business, unlike Partnership and Proprietorship firms.
While the shareholders are the owners of the business, the management decisions are made by the directors of the company. This helps the business to benefit from professional management without diluting ownership for the promoters and shareholders.
The company enjoys a separate legal existence from the owners. It can enter into contracts, own assets, and sue the third parties in its own name. As a distinct entity, it has a perpetual existence even beyond the lifetime of the members.
Being a highly compliant structure, banks prefer to issue loans to Companies and LLPs. Pvt Ltd Company offers key advantages like the ease in ownership transfer and limited liability protection for owners. Investors like Venture Capitalists, Private Equity Firms, and HNIs choose to invest in private limited companies.
Both PAN and Aadhaar Card of all Indian Shareholders and Directors
Either Voter ID, Passport, or Driving License of the Shareholders and Directors.
Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors
Latest passport size photographs of all the Shareholders and Directors
Either of the latest Utility Bill (Electricity, Telephone, Gas, Water) or Property Tax Bill of the registered office address. Rent agreement and NOC from the owner in case of rented property
| Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm | |
|---|---|---|---|---|---|
| Applicable Law | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act |
| Registration | Mandatory | Mandatory | Mandatory | Optional | no |
| Number of Owners | 2-200 | Only 1 | 2 – Unlimited | 2-50 | Only 1 |
| Separate Legal Entity | Yes | Yes | Yes | No | No |
| Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
| Statutory Audit | Mandatory | Mandatory | As Applicable | Not Mandatory | Not Mandatory |
| Ownership Transfer | Yes | Yes (Restricted) | Yes | Yes (Restricted) | No |
| Perpetual Existence | Yes | Yes | Yes | No | No |
| Foreign Ownership | Allowed | Not Allowed | Allowed | Allowed | Not Allowed |
| Taxation Liability | Moderate | Moderate | High | High | Low |
| Compliance Requirement | High | High | Moderate | Low | Low |