A minimum of two directors and two shareholders is required (a director can also be a shareholder), with at least one director resident in India. Shareholders can go up to 200.

No. Since the 2015 amendment to the Companies Act, there is no minimum paid-up capital requirement — you can start with any amount, even ₹1.

With documents ready and the proposed name approved on the first attempt, incorporation is usually completed within 7–10 working days.

Yes — unlike an LLP, a statutory audit is mandatory for a Private Limited Company every year regardless of turnover.

Yes, provided at least one director on the board is a resident Indian. Foreign directors will need a valid passport and apostilled/notarised documents.

If you plan to raise equity funding from investors or issue ESOPs, a Private Limited Company is almost always the right structure. If you want lower compliance cost and don't need external equity, an LLP is usually more practical.

Generally no — Section 185 of the Companies Act restricts this fairly narrowly, with only specific exceptions (like a scheme applicable to all employees). It's worth understanding this before assuming you can move money between yourself and the company freely.