• Yes, 2 persons are sufficient to incorporate a private limited company. Those 2 persons can become directors as well as members of the company.

• It takes around 8-10 working days to incorporate a private limited company.

• A private company is a business entity that is privately owned by a small group of individuals or investors. Its shares are not traded publicly on stock exchanges.

• Incorporating a private company offers several advantages such as limited liability protection, separate legal entity status, potential tax benefits, easier access to capital, and enhanced credibility with customers and suppliers.

• Requirements may vary depending on the jurisdiction, but typically include choosing a unique company name, appointing directors and shareholders, preparing company bylaws or articles of incorporation, and paying the necessary incorporation fees.

Your company name should be unique and not already in use by another business entity in your jurisdiction. It should also accurately reflect the nature of your business and comply with any naming regulations imposed by the government.

• The minimum number of directors and shareholders required varies by jurisdiction, but in many cases, a private company can be formed with just one director and one shareholder. However, it’s common for private companies to have multiple directors and shareholders.

Limited liability protection means that the personal assets of shareholders are generally protected from the debts and liabilities of the company. This means that shareholders are only liable for the debts of the company up to the amount of their investment.

Ongoing compliance requirements typically include filing annual reports, holding annual general meetings, maintaining accurate financial records, and complying with tax obligations. Failure to meet these requirements can result in penalties or the loss of legal protections.

Yes, it is possible to convert a private company to a public company through a process known as an initial public offering (IPO). However, this process is complex and typically requires meeting certain financial and regulatory requirements.

You can seek assistance from legal professionals such as corporate lawyers or incorporation services that specialize in company formation. Additionally, government agencies responsible for business registration and regulation can provide guidance on the incorporation process.