"I have two cats."
Translation:मेरे पास दो बिल्लियाँ हैं।
You may think of 'के पास' as being like 'with'. So, Hindi indicates possessions as 'With possessor is possession' - 'possessor के पास possession है'. For pronouns, instead of adding के, you use the possessive case (मेरे, तेरे, तुम्हारे, आपके, उसके etc).
Literally, पास means 'near'.