The name of the city that is Bangalore gives lots of opportunities and hopes for those who are thinking about starting their businesses. In the south it is a hub of startups and businesses. The city experiences incorporation of businesses every now and then. The most preferred type of entity among the entrepreneurs for their businesses is Private Limited Company. If you are thinking about doing company registration in Bangalore for your startup, you are on the right path. It is suggested to you that the online company registration in Bangalore must be done with the help of some experts as it includes a lot of technical formalities. For its registration the knowledge of Companies Act of 2013 is required. Even a small mistake can result in the rejection of your application. Hence one must be extra conscious while filling up the application for company registration.
What is a Private Limited Company?
Under the Companies Act of 2013, various types of entities have been mentioned. Private Limited Company is one of them. These are the entities which can be formed with a minimum of two directors. In such companies the maximum limit of directors is two hundred. These entities are good for those businesses which are working on a wider level and whose business is not just limited to a particular area. This company comes up with various benefits like limited liability, distinct identity, perpetual succession and well defined management. Hence on the basis of various advantages it is suggested to the new businesses who want to set their entity in the south to opt for the Private Limited Company registration in Bangalore.
Types of Companies Under Company Law
There are various types of companies under the Companies Act of 2013. One can choose any of them for their entity. Generally they have been chosen as per the requirement of the business. Some of the most preferred company registration in Bangalore are:
- Private Limited Company Registration for those whose business is on a broader level.
- Where only one person wants to set its entity simultaneously wants to take advantage like a corporate entity he or she can opt for One Person Company Registration.
- Next is section 8 company registration. It is for those who want to set up a non government organization.
- The best choice for those who are starting their business in partnership is Limited Liability Partnership Firm. It is a modernized version of partnership firms which offers benefits like corporate bodies.
- If you are thinking about setting up a big venture with a high investment then you can also opt for the option of Public Limited Company.
Process of Company Registration in Bangalore
Given below is the step-by-step process to obtain company registration in Bangalore. One can follow the steps and register his or her entity with the registrar of the companies:
Pre Registration Compliance
- Select a unique name for your company.
- Check the name is not already registered
- If you don’t have DIN, apply for DIN online through the MCA portal because without this one cannot complete the process of company registration in Bangalore
- Obtain a DSC that is the Director Identification Number for all directors of the company. This is required for online filing of documents.
- Collect all the necessary documents for completing the registration process
Company Registration Process
- An account needs to be created on the government portal or website of the Ministry of Corporate Affairs
- After the creation of the account one needs to authenticate it
- Apply for name availability through the same portal by filling and submitting the form called Spice+Part A
- Pay the requisite fees for the name approval
- Draft the MOA and AOA for your company.
- Once the name is approved, you can proceed to start the registration process
- Fill the Spice+Part B form
- Attach all the documents
- Check the entire application once after completing it
- Submit the form for the registration of the company
- Pay the requisite fees for the registration of the company
- Now the registrar of the company will verify your application
- After the successful verification of the application, ROC will issue Certificate of Incorporation
Post Registration Compliances
- Apply for PAN and TAN of the company which got registered
- If your company’s turnover exceeds the GST threshold, get GST registration on the name of your company
- A bank account needs to be open on the name of the company
- Deposit the minimum capital in the account of the company
- Ensure you comply with annual compliance of the company
- Depending on your business activities, you may need additional licenses and permits from relevant authorities.
List of Documents Required for Company Registration in Bangalore
Some of the key documents required for the company registration in Bangalore are mentioned below:
- Personal documents of all the directors of the company
- Personal documents of all the shareholders of the company
- Personal documents includes Aadhaar Card, PAN Card, address proof etc
- Address proof can be a utility bill that includes electricity bill, gas bill or even phone bill
- DSC and DIN of the directors of the company
- Registered address proof of the company as per the registered office availability
- Company’s rent agreement in case it’s office is on rent
- Bank account details of all the directors associated with the company are required
- Contact details of the associated directors of the company are required. These details include phone number and email of the directors
Benefits of Incorporation of Private Limited Company
Some of the benefits which comes up with the incorporation of the Private Limited Company in Bangalore are:
- Perpetual succession of the company
- Separate legal identification comes up as benefit with the incorporated company
- Liability of the members of the company is limited
- Assets of the company and members are different
- Juristic person who have all the legal rights as a natural human
- It can sue if required
- Smooth management of the company
Conclusion
Opting for Private Limited Company registration in Bangalore is a wise choice. It is said that due to its numerous advantages, including limited liability, a distinct legal identity, and perpetual existence. The process involves pre-registration compliance steps followed by the actual registration process through the MCA portal. Post-registration compliance involves obtaining PAN, TAN, GST registration, and adhering to annual compliance. Necessary documents include personal details of directors and shareholders, address proofs, DSC, DIN, rent agreements, and bank account details. For the registration of any kind of company it is really essential and also advisable to seek expert guidance to navigate the technical aspects and ensure a successful registration process.
