Private Limited Company Registration in Goa
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Private Limited Company Registration in Goa
Starting a business in India is an exciting journey, and one of the most popular business structures for entrepreneurs is a Private Limited Company. If you’re planning to begin your venture and are considering private limited company registration in Goa, this guide will walk you through everything you need to know in a simple and straightforward manner.
What is a Private Limited Company?
A Private Limited Company (Pvt Ltd) is a type of business structure that is privately held for small and medium-sized enterprises. It is governed by the Companies Act, 2013, and registered with the Ministry of Corporate Affairs (MCA) in India.
In a Pvt Ltd company:
- The liability of shareholders is limited to their shares.
- The company has a separate legal identity from its owners.
- It cannot publicly trade its shares.
It is one of the most preferred business structures in India due to its advantages in terms of funding, credibility, and scalability.
Eligibility Criteria for Private Limited Company Registration
The registration process for a Private Limited Company in Goa requires certain basic documents and criteria to be fulfilled. Here’s what you need:
- Directors and Shareholders: You need a minimum of 2 directors and 2 shareholders. They can be the same individuals.
- Company Name: Choose a unique company name that complies with the guidelines set by the Ministry of Corporate Affairs (MCA).
- Registered Office: You must have a registered office address in India. This can be a commercial or residential address.
Key Features of a Private Limited Company
- Limited Liability: Shareholders are only liable for the amount they have invested.
- Separate Legal Entity: The company is treated as a separate legal entity.
- Perpetual Succession: The company continues to exist even if the owners or shareholders change.
- Easy Transferability: Shares can be transferred easily.
- Fundraising is Easier: Investors are more likely to fund a private limited company.
Private Limited Company Registration Fees
Basic Package
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Two Digital Signature
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Memorandum of Association
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Articles of Association (AOA)
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COI, e-PAN & TAN
Standard Package
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Basic Package +
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GST Registration
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MSME Registration
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Bank A/c opening Support
Premium Package
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Standard Package +
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First Auditor Appointment
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ADT-1 filing
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INC 20A (commencement Filing)
2. Stamp Duty will be on Actual basis as its vary from state to state and also depend on amount of capital
Documents Required for Company Registration in Goa
Promoter's Document
- Passport Size Colour Photograph
- Self attested Pan Card of All Promoters
- Self attested Aadhar Card
- Identity Proof – Passport or Voter ID Card or Driving License
- Address Proof – Recent Month Bank statement , Electricity Bill or Telephone Bill or Mobile Bill
Registered Address
- Proof of Premises (Any One): Telephone Bill / Electricity Bill/ Water Bill/ Mobile Bill/ Gas Bill
- No Objection Certificate (NOC) From Owner
- Utility bill would not be older then 2 month
Online Company Registration Process in Goa
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only. The following are the steps involved in registering a company in India:
Step 1: RUN Name Approval
To reserve the company name, an application for company name approval is first submitted to the Ministry of Corporate Affairs. 1 or 2 names with business objective might be included in the name approval application. If a name approval is denied, one or two additional names may be presented. All name approval applications are typically approved by the MCA in less than 5 business days.
Step 2: Get Digital Signature for Directors
Every director of the company must have a DSC. This digital key allows you to sign electronic documents securely. It is mandatory for filing forms online.
Step 3: Incorporation Application Filing
Once the digital signatures are obtained, the incorporation application can be filed in SPICe Form to the MCA with all relevant attachments. Along with the incorporation application, the Memorandum of Association (MOA) and Articles of Association (AOA) of the company are filed.
Step 4: Issuance of Incorporation Certificate , PAN and TAN
If the MCA finds the incorporation application to be complete and acceptable, the Incorporation Certificate is granted along with PAN of the company. The MCA normally accepts all incorporation applications in less than 5 working days.
How Long Does It Take to Register a Private Limited Company?
The process generally takes 7-10 business days to complete. However, this timeline can vary based on the completeness of your documents and any additional steps that may be required for your business.
Benefits of Private Limited Company Registration in Goa
Choosing to register as a Private Limited Company offers numerous advantages:
1. Limited Liability Protection
Shareholders are only liable for the unpaid value of their shares. Personal assets remain safe even if the business incurs losses or debts.
2. Separate Legal Entity
The company exists independently of its owners and can own assets, incur debts, sue or be sued in its own name.
3. Easier Fundraising
Investors, banks, and venture capitalists prefer investing in private limited companies due to better compliance, credibility, and transparency.
4. Perpetual Succession
The company continues to exist even if directors or shareholders change or pass away.
5. Improved Brand Image
Customers and vendors often perceive private limited companies as more reliable and professional.
Post-Registration Compliances
After your Private Limited Company registration in Goa, some key things to take care of include:
- Open a company bank account.
- File INC 20A within 180 day to start your business
- Appoint an auditor within 30 days.
- Hold your first board meeting.
- File annual returns and income tax returns.
- Maintain statutory registers and records.
Failure to comply can attract penalties or even disqualification of directors.
Taxation for Private Limited Companies
The income tax for companies ranges from 15% to 30%, depending on the case. There are two categories of companies as mentioned below.
A. Newly Incorporated Company: A company incorporated on or after 1st October 2019, and that does not claim any other concession, deduction, exemption under the income tax act, the tax rate is as under
| Particulars | Manufacturing Company | Other Company |
| Tax Rate | 15.00% | 22.00% |
| Surcharge | 10% on tax | 10% on tax |
| Cess | 4% on tax & cess | 4% on tax & cess |
| Effective Rate | 17.16% | 25.17% |
B. For other companies: the income tax rate is 25% in case the turnover is less than 400 Crores and 30% in all cases where the turnover is more than 400 Crores. The Surcharge and education cess at applicable rate is charged in addition to the basic income tax rate.
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