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Is a dormant company need to pay paidup capital at the time of incorporation?
We're planning to incorporate our new startup as private limited company. At this moment, we won't have no significant transactions on next three years, and no offices and employees, or operations. So we considering 'dormant company' feature, currently we have only ~Rs 50,000 for this business - will use for professional fees of incorporation. Is it possible incorporating a private limited dormant company without paying paidup capital within one year period?
Replies (3)
One can not incorporate a dormant company in india and the company will get dormant if the company is not carrying out any business
Thank you for your reply. I have another question: I'm planning 1lakh as paidup capital and 10 lakh as authorized share. Is it mandatory to pay paidup capital at the time of incorporation or before converting to dormant?
Yes. it is to be brought in and is to be recorded in the books of accounts of the company.
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