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Bengaluru, which is the capital of the state Karnataka, is the second fastest growing metropolis in the country and holding fourth position as the highest GDP contributors after other metropolis. Bengaluru is basically known as IT hub of the country as many major IT companies are located in it, which includes Wipro and Infosys whose headquarters are in the same. This city is known for its all time pleasant climate and for its upscale lifestyle as it contains many cafes, shopping malls and luxurious restaurants. The city also meant for its wonderful tourist hotspots like the Bangalore Palace, Lal Bagh, Bannerghatta National Park, Innovative Film City and Cubbon Park.
Registering a company under the right structure of company registration in Bengaluru is as important as any activity of the business. The right business structure and company registration platform and process in Bengaluru allow the company to operate with efficiency and meet the business targets and objectives that have been set by different departments of the business. Company registration in Bengaluru is also a legal compliance that needs to be fulfilled by the company. Registering a company is essential as it provides the company with a number of benefits like perpetual succession, limited liability, protection against unfair practices, etc. We are offering services under Private Limited Company Registration in Bengaluru. If you want your company registered in Bengaluru, get it done with Company Vakil.
It is not mandatory to register a business but still, it is advisable and indeed important to do so. Many times, the credibility and success of the company also depend upon this.
Company registration in Bengaluru establishes it as a professional in its field. It provides a good impression and attracts customers. Registering a business also protects the business name from being used by other businesses. Once your company name has been incorporated and registered; it can further restrict its usage by registering it as a trade name or trademark. This ensures that no-one else can legally use it. It also provides shareholders with voting powers by which they can exercise a good degree of control. It also ensures the continued existence of a company.
When a private limited company registration in Bengaluru is to be done, there are some official procedures a start-up or a company has to follow in order to register them under MCA (Ministryof corporate affairs).
Registering a company is difficult as the procedure is complicated and involves much compliance. At Company Vakil, the team is continuously available to help people understand how to register a company. Company Registration in Bangalore can be done through Company Vakil as a seamless process.
Step 1: Acquire Director Identification Number (DIN)
Step 2: Acquire Digital Signature Certificate (DSC):
A valid signature on the documents is necessary in order to ensure the security and authenticity of documents filed electronically. The digital signature certificate should be acquired by only those agencies which are appointed by the controller of certification agencies (CCA).
Step 3: Create an account on MCA Portal – New user registration
The next step is to create an account on MCA Portal for filing an eForm, for online fee payment, for different transactions as registered and business user.
Step 4: Apply for the company to be registered.
This is the final major step of your company registration in Bengaluru includes incorporating company name, Registering the office address or notice of situation of office and notice for appointment of company directors, manager and secretary.
A minimum number of shareholders that are required to be there at all times for a private limited company registration in Bengaluru are 2 and that of a public limited company are 7. And the maximum number of members required for a private limited company is 200 and there is no restriction on the maximum number of members for a public limited company. The shareholder of a company can be an individual as well as a body corporate.
A Director is a person who administers controls and directs the operations of the company. The Directors of a company are elected or appointed by the shareholders of the Company. A private limited company must have a minimum of two directors and can have a maximum of 15 directors. The maximum limit of a number of directors can be increased by passing a special resolution.
Directors of a company can only be major individuals and not a body corporate. The Director of a Bangalore based Company can be an Indian-Citizen or Foreign Citizen. However, all companies in the country must have at least one Director who has stayed in the country for a total period of not less than one hundred and eighty-two days in the previous calendar year. Also, there is no requirement for a foreign Director to have an address in the country for company incorporation in Bengaluru.
The registered office is the principal place of business for any Private Limited Company Registration in India. All the official records of the company are kept at the registered office and it is the place where any member of the public can contact the company or serve legal notices. It helps to determine the jurisdiction of courts. The registered office of the company must be maintained throughout the life of the company. In case of any change to the registered office premises, the Ministry of Corporate Affairs must be informed by filing the appropriate filing.
While incorporating a new company, the company incorporation in Bengaluru must first be determined by the promoters to apply for the name. Once the name is obtained, a company can file for incorporation and be registered without providing a registered office premises address. However, in the filing, an address for correspondence must be provided and it should have a registered office within 15 days of incorporation. The ROC must be intimated about the registered office post incorporation within 30 days of setting up of the registered office.
A number of documents are required to be submitted while registering a company. If any of the documents are not submitted or are missing, it can lead to refusal registration.
All these documents should be attested by any one of the directors.
These documents should not be older than 2 months.
In addition, the landlord of the registered office premises must provide a “No Objection Certificate” for holding the registered office in his/her premises and must submit his/her identity proof and address proof.
Application for certificate of incorporation is to be given in order to get the name of the company approved from MCA. The following three forms are required for the same:
Application for a certificate to commence business- It is mandatory for a Public Limited Company registration and Private Limited Company registration in Bengaluru as per section 11 of the Companies Act, 2013.
It is necessary to file INC-21 within 180 days of receiving a certificate of incorporation.
One of the biggest advantages of a registered company is that it provides with Limited Liability protection to its members. It means that promoters, management or members won't be personally liable for liabilities of the company. The members, promoters or management would be liable to pay only to the extent of their shareholding or capital contributed by them.
Most suppliers and companies prefer doing business with a registered business entity than with an unregistered business entity. Hence, registering a business can make the business eligible to meet buyer criteria, their expectations, participate in tenders and meet various requirements set by buyers or customers.
Registering your company enhances the reputation and perception of your business. For example- Google, Nike, Facebook, all are registered companies. It also enhances the accountability of the company.
Becoming a registered company is also important for any future dealings with third parties, as many parties prefer dealing with companies rather than with the owners.
Raising money could be essential for the development and expansion of your business. It becomes easy for a registered company to attract investors, borrow funds and raise money. Investors also prefer to invest in a registered company rather than a sole trader or partnership, mainly because they know that there is a formal structure in place to accept their investment.
If a company is registered, it gives the company the status of a separate legal entity with assets and liabilities distinct from its members. The shares of a company then become easily transferable.
Private limited company is a company run and managed privately by its directors and shareholders. Also, it is not entitled to sell its shares to outside public investors and hence, it cannot trade on the stock exchanges, like the public limited companies do. It has a minimum of 2 members and can have a maximum of 200 members. For the convenient and efficient company registration in Bengaluru, choose Company Vakil.
DIN (Directors Identification Number) is an identification number issued to a director of a company by the MCA. It is mandatory for every director to apply for a DIN.
Yes, two foreign nationals can initiate company incorporation in Bengaluru.
Based on the documents filed and submitted, the time taken by the entire procedure for Company incorporation in Bengaluru may range from One to Two Weeks.
The registered office is the official address of the company where all statutory documents from Companies are sent and which appears on all public documents.
This is a certificate issued by the Registrar of Companies to document the company incorporation in Bengaluru. The certificate will record the company name, number and the date of incorporation.
Yes. The rules of company registration in Bengaluru have liberalised many requirements in respect of Proof of Identity and Proof of residence but PAN and AADHAAR are mandatory.
A digital signature is a digital code created for the purpose of affixing them on digital documents. It has similar authority as that of a handwritten signature. The digital signature certificate is a prima facie evidence of the signature which validates the authenticity of the signature.
It is the constitution of the company that lays down the objectives of the company. It has 5 clauses namely- Name clause, Object clause, Situation clause, Capital clause and Liability clause.
Yes, it is mandatory to register the same.