For private limited company registration in Bangalore, there should be a minimum of two shareholders and 2 directors and the maximum number of shareholders can be 200. The new company registration process is online and each of the Directors should have a Director Identification Number (DIN) and subscribers have to procure a Digital Signature for registration. The process of incorporation is online and it takes 10-15working days from the date you give your complete documents to us and subject to the availability of the proposed name.
How to register a Private Limited Company?
With the help of experts at Nurturelabz, you can easily register your Private Ltd company without any hassle. A Private Limited Company has shareholders and directors. This business structure is ideal for entrepreneurs who need external sources of funding.
Requirements for Pvt Ltd Company registration Online in Bangalore
- A Private Limited Company can be incorporated with a minimum of two shareholders and two directors.
- At the initial time of incorporation, a maximum of 3 directors is allowed.
- All the directors must have a Digital Signature Certificate (DSC).
- Even foreign nationals and NRIs can be directors.
- Shareholders and directors can be the same person.
Minimum Paid-up capital and Authorized capital requirement
- Minimum paid-up capital for a Private Limited Company is Rs. 1 Lakh.
- Authorized capital is the maximum number of shares which the company can issue to its shareholders. It would be best if you prescribed the authorized capital in MOA and AOA during its incorporation.
How to name your new Private Limited Company?
Naming your new company can be an exciting yet challenging task. However, it is vital to follow a few naming guidelines set by the Registrar of Companies (ROC) while selecting a name for your new company. Follow the rules and get your company name approved in no time.
Preferred Format accepted by the MCA
- Unique Component + Descriptive Name + Private Limited.
- For instance, in Consultry Consultants Private Limited, Consultry is a unique component. After you come up with a name, you need to ensure that no other company name has been registered with a similar name. While searching for your unique component think creatively.
- In the case of unique components, abbreviations, adjectives and generic words are not allowed. The names like BBC or XYZ would be easily rejected.
- From the above example, Consultry comes under a consulting category. The descriptive name depends on the type of business.
Check the availability of the company name
- Your company name should be unique and needs to get approval from the ROC. Search and look for a unique name for your company.
Check for a trademark if any
- It is impossible to register your company name if there is an existing trademark with a similar name.
List of things to consider when selecting a company name
- Choose a unique name and not an undesirable name
- Ensure that the name is not generic
- Do not use abbreviations in the name
- Do not include the country’s name
- Do not use a name that is associated with the foreign government
Private Limited Company Registration Process
Step 1 – Obtain Digital Signature Registration (DSC)
As the registration process is online, the forms require a digital signature. DSC is mandatory for all subscribers and witnesses in MOA and AOA. There are two different categories of DSC. In the Class 2 category of DSC, your identity is verified against a pre-verified database. In the Class 3 category of DSC, you need to present yourself before registering authority to prove your identity.
Step 2 – Submission of the company’s name with an objective
After following the name availability guidelines, be sure that the proposed name is unique. This step involves the submission of your company name along with the objectives.
Step 3 – Drafting MOA and AOA
MOA is Memorandum of Association and AOA is Articles of Association. Both are legal documents that are prepared in the formation and registration process of a Private Limited Company. MOA contains the objectives of the company while AOA contains the rules and regulations of a company, defining the company’s purpose. AOA also specifies the process of appointing directors and the handling of financial records.
Step 4 – Filing of MOA and AOA with MCA
The name of the company must have “Private Limited” as the last words. After drafting MOA and AOA, both the documents need to be filed with MCA for the approval.
Step 5 – Obtaining Certificate of Incorporation from MCA
After all, the documents for Private Limited Company registration are processed and approved by MCA, you will receive a registration certificate from MCA.
Documents Required for New Company Registration
You need to have the following set of documents before proceeding for registration:
- Self-attested PAN card copy
- Self-attested Govt Address proof (Passport or Driving Licence or Voters ID or Aadhar Card)
- Self-attested Latest Bank Statement or Mobile Bill or Gas (Not older than 2 months)
- Proof of Registered Office (electricity bill or landline bill or Mobile Bill or Gas Bill not older than 2 months)
- Rent agreement between the proposed director and landlord and No Objection (NOC) from the person who owns the property mentioned above.
Other details required:
- Main Objective of the Company- Proposed activities of the company
- Proposed names for your company
How much does it cost to register a company in Bangalore?
The private limited company registration cost
The company registration cost includes:
- Government Fees
- Professional fees
- MOA and AOA of the company
- PAN and TAN of the company
- Assistance in the bank account opening
How much time does it take to complete your Private Limited Company registration process in Bangalore?
It takes 10 days to complete the Private Limited Company registration process.
Why Consultry to register a Private Limited Company in Bangalore?
Consultry, helps various businesses in the private limited company registration process. With over 20 years of experience in corporate laws, finance and taxation, 1000 plus businesses have been incorporated. We provide end-to-end business registration services in India, delivering quality services in a professional and time-bound manner. If you are looking for company registration, let our team of experts help you.
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Compare your options before the incorporation of the company
It’s hard to digest all if it is at one stretch. So an introduction about a business or start-up formation options is vital for deciding the right form of business registration. The Companies Act, 2013, and Limited Liability Partnership Act, 2008 have brought more business formation choices for entrepreneurs. The key factors that influence the legal form of business are the nature of your business, customer’s profile (corporate, small businesses or individuals ), expected business turnover, scalability of your business idea, and future funding prospectus.
Every entrepreneur/promoter should take the pain to know about the pros and cons of these legal forms for new company registration.
Consultry also offers private firm, LLP and OPC registration and more services. Contact us for details regarding private limited company registration cost and to know more about how to register a company in Bangalore.
What is a Private Limited Company?