A private limited company requires:
- Minimum 2 directors and maximum can be 15.
- Minimum 2 shareholders and maximum can be 200.
- One person can act as both shareholder and director.
- At least 1 director should be an Indian citizen (foreign nationals can become shareholder or director in the company).
- No minimum authorized/ paid up capital required.
It is ideal for businesses with external partners as directors or if you are looking for startup India benefits or gaining credibility among customers or investors as you expand business or look for external funding.