Change in Director
Directors are appointed by the shareholders of a company for management. A Private Limited Company must have at least two Directors, while a Limited Company requires at least three. A Limited Liability Partnership (LLP) requires a minimum of two Designated Partners, as per the LLP Act, 2008. Changes in Directors or Designated Partners can be required for various reasons. TaxOSmart can assist with the necessary filings to add or remove a Director or Designated Partner.
Factors To Consider in Director Changing Process
Minimum Requirements
To become the Director of a Company, a person must be at least 18 years old and possess Director Identification Number. Foreign Nationals can also become Directors of an Indian Company.
Director Identification Number
Director Identification Number or DIN is a unique number allotted by the Ministry of Corporate Affairs for any person who is a Director of a Company or proposes to be the Director of a Company.
Company’s Board of Directors
A Private Limited Company must have a minimum of two Directors and up to a maximum of 15 Directors. The Directors do not have to be shareholders. However, they have to be over the age of 18.
