Company Incorporation in Bangalore

Company Incorporation in Bangalore

Introduction

Bengaluru is one of the fastest-growing cities in India. It is an IT hub since it provides various advantages to companies. One of the primary benefits of a company registered in Bangalore is the availability of a highly skilled workforce comprised mainly of technologically inclined professionals.
Bangalore’s cutting-edge infrastructure and favorable business laws form a sustainable economic framework for start-ups. Moreover, it is home to world-class tech companies luring fresh talent across the country and a well-known start-up epicenter. There is immense scope for new company registration in Bangalore.

Different Types of Company Registration in Bangalore:

The company registration process is provided under the Companies Act, 2013 and is governed by the Ministry of Corporate Affairs (MCA). The following are the types of companies that an entrepreneur can incorporate in Bangalore:

One Person Company (OPC):

OPC is suitable for a single individual who wants to start a company with limited liability. There can be only one member in an OPC.

Limited Liability Partnership (LLP):

LLP is ideal for a close group of people wishing to start a company with limited liability and minimal external contribution.

Private Limited Company:

A private limited company is best suited for a group of people planning to raise funds for their business in the future.

Public Limited Company:

A public limited company is a company that offers its shares to the public. Any individual can buy the company stock. It is stringently regulated under the Companies Act, 2013 and SEBI Act, 1992.

Requirements for Company Registration in Bangalore

Entrepreneurs must have the following requirements before applying for company registration in Bangalore:
  1. The company must have a unique name, i.e. not similar to an already registered company name or trademark.
  2. The company must have the minimum directors
    1. One director for OPC
    2. Two for a Private Company
    3. Three for a Public Company
  3. Foreign nationals can be directors of the company, but at least one director must be an Indian citizen.
  4. All the directors must have a Director Identification Number (DIN).
  5. The company must have the minimum members
    1. One member for OPC
    2. Two for a Private Company
    3. Seven for a Public Company
  6. All the directors and shareholders must have a Digital Signature Certificate (DSC) to sign documents and forms.
  7. The company must have a registered office address in Bangalore.
  8. The company must prepare its Memorandum of Association (MOA) and Articles of Association (AOA).

Registration of Company in Bangalore

The company registration process in Bangalore is completely online and paperless. The company registration forms and the required documents are filed online through the MCA website, and the Central Registration Centre (CRC) processes the same.
Upon completion of the registration formalities, the Offices of Registrar of Companies (ROC) in each state issue a digitally signed Certificate of Incorporation. The stakeholders of a company can verify the certificate of company incorporation issued by the ROC on the MCA website. In Karnataka, the Registrar of Companies, Bangalore (ROC, Bangalore), is the authority for company and LLP registration and regulation.
The address of the Office of Registrar of Companies, Bangalore is as follows: Registrar Of Companies, E Wing, 2nd Floor, Kendriya Sadan, Koramangala, Bangalore – 560034, and the email ID is as follows: roc.bangalore@mca.gov.in.

Company Registration Process in Bangalore

The company registration process in Bangalore is as follows:
  1. Applying for the DSC and DIN of all directors.
  2. Filling Part-A of the SPICe+ form for reserving the company name on the MCA website.
  3. Filling company details in Part-B of the SPICe+ form.
  4. Filing the eMOA and eAOA.
  5. Filling the AGILE-PRO form for opening a bank account and registration of EPFO, ESIC, GSTIN and professional tax (if applicable).
  6. Uploading the required documents.
  7. Submitting the filled form SPICe+ form on the MCA website by attaching the DSC of the proposed director and declaration by a professional (Chartered Accountant/CompanySecretary/Cost Accountant/Advocate).
  8. Paying the company registration fees and ROC stamp duty on the MCA website and generating the challans.
  9. The CRC will process the application and forward it to the ROC when all the documents are proper.
  10. The ROC will register the company and issue the following:
    1. Company Incorporation Certificate.
    2. Company Permanent Account Number (PAN).
    3. Tax Collection and Deduction Number (TAN) of the company.

Documents Required for Company Registration in Bangalore

  1. PAN card of every director and shareholder.
  2. ID proof of every director and shareholder, which can be any one of the below documents:
    1. Aadhaar card
    2. Voter ID card
    3. Driving license
    4. Passport (in case of foreign nationals)
  3. Address proof of every director and shareholder, which can be any one of the below documents:
    1. Bank account statement
    2. Latest electricity, water or internet bill
    3. Mobile bill not older than three months
    4. Resident card, bank statement or driving license (in case of foreign nationals
  4. Proof of registered office address of the company, which can be any one of the below documents:
    1. Electricity, gas, internet or water bill
    2. Rental agreement and NOC from the owner (in case building premises is leased
    3. Latest property tax receipts
    4. Sale deed or property registration deed (in case building premises is own)




Created & Posted by Sony Garg

Accountant at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ

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