COMPANY REGISTRATION IN BANGALORE

Are you looking for Company Registration in Bangalore ?

Company Registration in Bangalore can be done online with B K Goyal & Co LLP Chartered Accountants. Private Limited Company is the most preferred form of business which is chosen by Lakhs of Indian entrepreneurs and most popular startup brands such as Lenskart, Boat, Cardekho etc. A Private Limited Company can be registered in Bangalore in less than 7 days at very affordable Govt fee which starts from Rs 2020 towards stamp duty for 1 Lakh authorised capital and Rs 131 towards PAN Card of the company.

Now let’s understand further about the types of Companies, benefits, and the procedure of Company Registration in Bangalore.

To start the process of Company Registration in Bangalore, you can contact us at the below details:

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What is a Private Limited Company ?

A Private Limited Company is a legal entity governed by the Companies Act 2013 in India. Registering a Private Limited Company requires a minimum of 2 people, and there is no specific minimum capital requirement.

Here are the basic requirements for company registration:

  • 2 Directors: You need at least 2 directors, one of whom must be a resident of India.
  • 2 Shareholders: The same 2 directors can also be the company’s shareholders, so you don’t need additional separate shareholders.
  • Registered Office in India: You must have a registered office in India. You need a utility bill and a No Objection Certificate (NOC) from the office owner to prove the office’s address. We can provide you with the NOC format.

Documents Required for Company Registration in Bangalore

Suppose you are an Indian national aspiring to be a director of a Private Limited Company. In that case, you will need to provide the following documents either through WhatsApp or email:

A) For Indian Nationals:

  1. PAN Card: This document is mandatory and must be submitted.
  2. Aadhar Card/Driving License/Voter ID/Passport: You must provide any identification documents.
  3. Photo: A clear photograph of yourself needs to be submitted.
  4. Bank Statement/Electricity Bill/Phone Bill: You must provide any of these documents. It should be in your name and not older than 2 months.

B) For Foreign Nationals:

  1. Passport: You need to provide a copy of your passport.
  2. Driving License/Residence Proof: You must provide either a copy of your driving license or a document showing your residence proof.

C) If a company wants to become a shareholder in the Private Limited Company:

  1. Incorporation Certificate of the Company: The company must provide a copy of its incorporation certificate.
  2. Board Resolution: The company must provide a board resolution stating its intention to become a shareholder in the Private Limited Company.

A utility bill of the registered place of business must be submitted. This bill should not be older than 2 months.

Please ensure that the documents are genuine, clear, and not forged. Submitting these documents will be necessary for the registration process.

Capital Required to start a Company in Bangalore

Starting a Private Limited Company in Bangalore does not require a specific minimum capital. Shareholders can decide the amount they want to invest.

There are two important terms to understand:

  1. Authorized Capital: It is the maximum capital allowed for shareholders to invest. Private Limited Companies usually register with Rs 1 Lakh as authorized capital. The government fee depends on the authorized capital, so higher capital means more stamp duty to pay.
  2. Paid-up Capital: It is the actual amount shareholders invest in the company. There is no minimum requirement. It cannot exceed the authorized capital. Once the company is registered, shareholders must deposit their subscribed amount into its bank account within six months. The company cannot start operating until this capital is deposited.

Some other types of Companies that can be registered in Bangalore

Non Banking Finance Company in Bangalore

A Non Banking Finance Company (NBFC) is Company which is incorporated for the purpose of carrying on the activities of financing etc. In order to do so, first the a Company needs to be registered as an NBFC then license from RBI needs to be obtained in this regard. Minimum capital required for NBFC is 2 Crores

Nidhi Company Registration in Bangalore

To put it in simple words, a Nidhi company isbeing incorporated by people to carry on the business of micro finance.

Foreign Company in Bangalore

It basically means a Company which is already registered outside India and now wants to setup its business in Bangalore as well 

One Person (OPC) Company Registration in Bangalore

One Person Company means a company which has only one person as a member. Though to register the same, documents of 1 nominee is also required.

Public Company Registration in Bangalore

The major benefit for a Public Company is that it can go and raise funds from public at large. We require minimum 3 Directors and 7 Members to register a Public Company

Section 8 Company Registration

Section 8 Company is basically an NGO. 2 People can start NGO by incorporating Company u/s 8 of Companies Act. Its better to register an NGO under Companies Act as the process is simple and it is more visible.

Producer Company

Producer Company is formed by farmers to unite and bring synergies.

Subsidiary Company

A subsidiary company acts as a part of another holding company. Where the holding company have control over the subsidiary company. It is created for the purpose of expanding into different verticals of business

Process of Company Registration in Bangalore

Following are the steps for Company Registration in Bangalore which are needed to be followed

  • Step 1: Submission of the documents & Details mentioned above

  • Step 2: Scrutiny of all the documents

  • Step 3: Application for digital signatures

  • Step 4: Analysis of Company name for its availability

  • Step 5: Filing of Applications for Registration with Ministry of Corporate Affairs

  • Step 6: Company Registration Approval and Distribution of Company Document

  • Step 1: Submission of the documents & Details mentioned above: You will need to submit all the relevant documents & details as mentioned in the article above to our email [email protected] or on our whatsapp number +91-9971782649 along with fee deposit transaction details.

  • Step 2: Scrutiny of all the documents: On receipt of the documents & details we will go through them in detail. If there is a missing document or detail then we will inform you to submit the same. Further in this step, we will also prepare a NOC, which would be needed to be signed by the owner of the property of registered place of business. Furthermore, an engagement letter would also be prepared at this stage containing terms and conditions to be signed by the proposed directors.

  • Step 3: Application for digital signatures
    In this step, we will apply for digital signatures of the proposed directors. Directors will receive otp on their email and mobile for this purpose which will be required to be shared with our office. Furthermore, directors will receive a link on their email to upload a video for digital signature, they will need to record a video in the format which we will inform and upload the same on the link provided.

  • Step 4: Analysis of Company name for its availability
    In this step, we will analyse the desired name and perform company name search for its availability with mca. If the same is already registered or resembles to a already registered company then you will need to provide another name. Further, we will also suggest some alternative names as per experience.

  • Step 5: Filing of Applications for Registration with Ministry of Corporate Affairs: In this step, we will fill all the required forms such as SPICE+ Part A, Part B, MOA, AOA, Agile and INC. Further, the same will then be downloaded for affixing digital signatures of the directors and CA Bhuvnesh Goyal. Once the same is completed, the application is filed with ministry of corporate affairs and all the documents are submitted for their approval. This is important to know that company registration process requires certification of a practicing CA.

  • Step 6: Company Registration Approval and Distribution of Company Document: Once the company is approved by the ministry of corporate affairs, we will provide you all the company registration documents such as Company Registration Certificate, PAN Card of Company, TAN Card of Company, MOA and AOA. Further, we will also now proceed for GST Registration and MSME Registration which will take another approx. 3 working days.

Benefits of Company Registration

Separate Legal Entity

A Company is basically artificial person having it own legal identity. A PAN Card will be issued in the name of the Company.

Therefore, a Company enjoys a Separate Legal Entity meaning It can purchase any asset it its own name, it can file legal cases against others and others as well can file legal case against the Private Limited Company.
Therefore, the directors and private limited company are two separate persons in the eyes of law.

Raising Funds

After Company Registration in Bangalore, the Company can raise funds privately by issuing shares. A Company can issue shares to upto 200 people and raise funds from them by giving stake in the Company.

The funds so raised is not in the form of loan but capital. The concept of raising funds through equity has allowed startups and news business to build their business without any loan liability on their head.

Startup India Recognition

A Company after incorporation may apply to the Government for Startup India Recognition which results in many benefits for the Company such as market reach, fundings, tax holidays and many more.

Credibility

Company Registration in Bangalore is granted by Ministry of Corporate Affairs – ROC Bangalore after verification of all the documents of the directors, verification of existence of the company address and other documents. Further, a Practicing CA and CA Firm Certifies all the documents that they has gone through all the documents and details of the directors & Company which are in accordance with the provisions of the Companies Act, 2013.

Once the verification is completed, Certificate of Incorporation, PAN Card and TAN Card are allotted to the Company by MCA.

Since all the documents and details are first certified by a Chartered Accountant and then verified by MCA hence it brings credibility to the Companies Profile and existence.

Scalability

Scalability is one of the biggest advantage of a Company as it can issue shares, raise funds, fight cases in its own name, enter into contacts in its own name, go to IPO and become a listed company on NSE or BSE by converting itself to a Public Limited Company.

Perpetual Succession

Perpetual succession is a concept that refers to the continuous existence of a company, irrespective of the changes that may occur in the management or ownership of the company. In other words, the company continues to exist even if its founders or directors die or retire, or if there are changes in ownership through share transfers

Some frequently asked questions

How much time it will take for Private Limited Company Registration in Bangalore ?

For Private limited company registration in Bangalore, It takes approx 2 working days from our office to prepare DSC of directors, MOA, AOA, Spice+ Forms, Agile Form, INC 9 Form, CA Certifications and complete the entire documentation. Application is then filed with MCA containing all the forms for MCA approval with deposit of MCA fee for registering a company with Bangalore ROC. MCA then takes approx 3-4 working days for the approval and issue of Certificate of Incorporation, PAN Card, TAN Card, ESIC Certificate.

In total it takes approx 7 working days for your Private Limited Company Registration in Bangalore.

What is the Cost of Company Registration in Bangalore ?

The Cost of Company Registration in Bangalore depends on the number of directors and authorised capital. 

Example: For a Private Limited Company with 2 Directors and Rs 1 Lakh Authorised Capital the cost is as follows:

  • Two Digital Signatures of 2 directors: Rs 700
  • Stamp Duty Fee to MCA: Rs 2020
  • Pan Card/Tan Card Fee: 131
  • Professional fee of CA

So, the total fee may vary depending on the fee of Chartered Accountant in Jaipur. Every CA is having their own fee which may vary any where between Rs 7000 to Rs 20000 in accordance with their expertise, quality of service, knowledge and consultation provided with respect to business formations.

Do I need to come physically to your office for company registration in Bangalore ?

No, you are not required to come physically to our office for company registration in Bangalore. Though, we recommend otherwise. In case you do not want to come physically then the required Documents can be submitted through email along with deposit of fee, once we receive the documents, we will start working on registration process. 

What all documents will I receive on registration of my company ?

You will receive the following documents on your Private Limited Company Registration in Bangalore:

  1. Digital Signatures of Directors
  2. Director Identification Number of Directors
  3. Name Approval Certificate from Ministry of Corporate Affairs
  4. Memorandum of Association
  5. Article of Association
  6. Certificate of Incorporation
  7. PAN Card
  8. TAN Card
  9. GST Registration Certificate
  10. MSME Registration Certificate
  11. CIN Number and ESIC Certificate

Do I need to mandatorily complete the compliances, file returns, get auditor appointed, file commencement of business certificate for my Company ?

Yes, Once your company is registered in Bangalore, you will compulsory need to complete mandatory compliances under Companies Act as mentioned below. In case you do not get the compliances done yearly, quarterly and monthly basis as required under Companies Act, 2013 then huge penalties may be imposed by Government under Companies Act which may run into Millions of Rupees followed with criminal proceedings as well. The mandatory compliances are as follows:

  • Auditor Appointment and Common seal adoption within 1 month
  • Obtain Commencement of Business Certificate
  • Board Meetings, Annual General Meeting, Notice and Resolutions
  • Registers, Share certificates, Annual Returns, Accounting
  • Audits, Income Tax Returns, GST Returns, TDS Returns, ESI & PF