Private Limited Company Incorporation Guide
Minimum requirements, documents, the SPICe+ process, timelines and the compliance that follows incorporation — explained in plain language.
Written by CA Gaurav Singh, Chartered Accountant (ICAI Membership No. 539050) · Last updated: 13 July 2026
Note: General information under the Companies Act, 2013. Requirements and forms should be verified against current MCA guidance; this is not a substitute for professional advice.
A private limited company is the most widely chosen structure for startups and growing businesses in India, because it offers limited liability, a separate legal identity, and a familiar framework for raising funds. Incorporation is now largely a single online process, but the paperwork and the compliance that follows deserve care. This guide walks through both.
Minimum requirements
- Directors: at least two, with at least one resident in India (an OPC needs one director and a nominee).
- Shareholders: at least two (they may be the same people as the directors).
- Capital: no minimum paid-up capital — start with an amount suited to the business.
- Registered office: a valid address in India with proof and, if rented, a No-Objection Certificate.
Documents required
- PAN and Aadhaar of each director and shareholder.
- Passport-size photograph of each director.
- Address proof of directors (bank statement or utility bill, recent).
- Registered-office proof: a recent utility bill plus a rent agreement and NOC where the premises are rented.
- Digital Signature Certificate (DSC) for the proposed directors.
The SPICe+ process, step by step
- Obtain DSCs for the proposed directors and shareholders.
- Reserve the name through SPICe+ Part A (two proposed names, checked against existing companies and trademarks).
- File SPICe+ Part B with the linked forms — incorporation details, capital structure, DIN allotment, and the integrated PAN, TAN, EPFO, ESIC, GST and bank-account applications.
- File the MoA and AoA (the memorandum and articles) and the AGILE-PRO-S form.
- Receive the Certificate of Incorporation with the Corporate Identity Number (CIN), PAN and TAN.
Timeline
With documents and DSCs in hand, incorporation typically completes in about 7 to 15 working days, depending on name approval and government processing.
Post-incorporation compliance
Incorporation is the beginning of an ongoing compliance cycle. The important early steps are:
- File the declaration of commencement of business (Form INC-20A) within 180 days, after paying in the subscribed capital.
- Appoint the first auditor within 30 days of incorporation.
- Hold the first board meeting within 30 days and maintain statutory registers.
- Issue share certificates and complete the initial disclosures.
- Plan for annual filings (financial statements and annual return) and income-tax compliance.
Frequently Asked Questions
What is the minimum number of directors and shareholders for a private limited company?
A private limited company requires a minimum of two directors and two shareholders, who may be the same persons. At least one director must be resident in India. A One Person Company (OPC) is an alternative for a single promoter, needing one director and one nominee.
Is there a minimum capital requirement?
No. The minimum paid-up capital requirement was removed in 2015. A company can be incorporated with any amount of authorised and paid-up capital appropriate to its business.
How long does incorporation take?
Once documents and Digital Signature Certificates are ready, incorporation through the MCA SPICe+ form generally completes in about 7 to 15 working days, subject to name approval and government processing times.
What is SPICe+?
SPICe+ is the Ministry of Corporate Affairs integrated web form for company incorporation. It combines name reservation, Director Identification Number (DIN), PAN, TAN, GST, EPFO, ESIC, professional tax (in applicable states) and bank-account opening into a single application.
Can a company be registered at a residential address?
Yes. A residential address may serve as the registered office provided valid address proof (a recent utility bill) and a No-Objection Certificate from the owner are furnished.
What must be done immediately after incorporation?
Key first steps include filing the declaration of commencement of business (Form INC-20A) within 180 days, appointing the first auditor within 30 days, holding the first board meeting, issuing share certificates, and maintaining statutory registers.