All About Company Registration In Bangalore

Bangalore’s advanced infrastructure and favorable business laws provide a stable economic base for start-ups. In addition, it is home to world-class technology companies with emerging talent and renowned start-up hubs across the country. There are huge opportunities to register new companies in Bangalore. In this article we are going to read about company registration in Bangalore.

Overview

Bangalore is one of the fastest-growing cities in India, with a population of over 10 million. It is known as a central IT hub, as it offers many benefits to businesses across the country.

The most obvious advantage of company incorporation in Bangalore is the presence of a skilled workforce consisting mainly of technically skilled professionals. The city also has advanced infrastructure and favorable labour laws that contribute to building a sustainable economic infrastructure for start-ups.

Different types of company registration in Bangalore

The process of company registration in Bangalore is under the Companies Act, 2013 and is administered by the Ministry of Corporate Affairs (MCA). Following are the types of companies that entrepreneurs can incorporate in Bangalore:

• One-Person Company (OPC): OPC is suitable for a single person who wants to start a limited liability company. An OPC can have only one member.
• Limited Liability Partnership (LLP): An LLP is suitable for close associates who want to start a company with limited liability and minimal external contributions.
• Private limited companies: Private limited companies are best suited for a group of people who plan 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. Anyone can buy shares in a company. It is strictly regulated under the Companies Act, 2013 and the SEBI Act, 1992.

Company registration in Bangalore

• The company registration form and required documents are submitted online through the MCA website and the Central Registration Center (CRC). Company registration in Bangalore follows a complete paperless and online mode.
• After the registration documents are completed, each country’s registration office issues a digitally signed certificate of incorporation. Stakeholders of a company can check the company certificate issued by the ROK on the MCA website. The Registrar of Companies, Karnataka, Bangalore (ROC, Bangalore) is authorized to register and regulate companies and LLPs.
• The address of the incorporation of Companies in Bangalore is: Registrar of Companies, E Wing, 2nd Floor, Kendriya Sadan, Koramangala, Bangalore – 560034 and the email address is as follows: roc.bangalore@mca.gov. in it.

Steps for Registering company in Bangalore

Following are the steps for company incorporation in Bangalore:

• Decide Company Type: Choose Private Limited, Public Limited, LLP or any other type as per your business needs.
• Name Reservation: Check whether the desired company name is available and apply for reservation through the Ministry of Corporate Affairs (MCA) website.
• Obtain Digital Signature Certificate (DSC): Obtain DSC as required for online filing for nominated directors and shareholders.
• Get Director Identification Number (DIN): Apply for DIN for all nominated directors through MCA website.
• Additional Documents: Prepare and submit required documents to the Registrar of Companies (ROC) such as Memorandum of Association (MOA) and Articles of Association (AOA).
• Certificate of Incorporation (COI): Once the ROK approves and approves your application, you will receive a COI confirming your company registration.
• Apply for PAN and TAN: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) with the Income Tax Department.
• Open a bank account: Visit a bank to open a company bank account and make the required minimum investment.
• Meet other regulatory requirements: Depending on your business, you may need to obtain industry-specific licenses, permits, and registrations.

Documents required for company registration in Bangalore

Company incorporation in Bangalore requires the following documents:

• PAN card of every director and shareholder.
• The identity card of each director and shareholder, which can be one of the following documents:
• Aadhaar card
• Voter’s ID card
• Driving license
• Passport (in the case of a foreigner).
• Address proof of each director and shareholder, which can be one of the following documents:
• Bank account statement.
• Last electricity, water, or internet bills.
• Mobile payments last no longer than three months.
• Residence card, bank statement, or driver’s license (if a foreigner).
• Proof of the address of the company’s registered office, which can be one of the following documents:
• Electricity, gas, internet, or water bills
• Lease agreement with NOK from the owner (in the case of rental premises)
• Recent property taxes
• Sales agreement or property registration document (if real estate).

Compliance requirements after company registration in Bangalore

For the purpose of company incorporation in Bangalore some compliance requirements needs to be fulfilled by the incorporated company which are as follows:

• Companies must maintain accurate and up-to-date accounting books in the form of ledgers and accounts payable.
• Annual financial statements must be prepared and audited by chartered accountants.
• In addition, an annual general meeting must be held where an annual financial report must be prepared for the approval of the shareholders.
• It must also file an annual return one month after holding the AGM.
• In addition, you must comply with all tax requirements and complete a statutory audit once a year.

Takeaway

Company incorporation in Bangalore, India, can be a worthwhile decision due to the city’s thriving business ecosystem, skilled workforce, and access to various industries. However, it is necessary to follow all legal procedures, comply with regulatory requirements, and seek professional help to ensure that the registration process is successful. With proper planning and compliance, your company can take advantage of the opportunities that Bangalore has to offer and contribute to the dynamic business environment.