A private limited company can be incorporated with minimum two members, and maximum number of members that may join in is 200 per the Companies Act 2013. Two Directors are also required, however the members and Directors may be common persons as well. Maximum number of Director that can join a company is 15. With a perpetual existence and limited liability, it also benefits the owners with least tax rates applicable. As the business form is globally recognized and accepted, to promote more, the Government has eased the requirement of minimum paid up capital for Private Limited Company.
The business form is transparent in order that its annual accounts are available with Ministry of Corporate Affairs and anyone who wishes to see the documents can simply pay some fee and get the documents.
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