Company Registration in Bangalore
Company registration is vital to legitimise any entity and simplify decision-making. Most emerging entrepreneurs perceive securing company registration as a part of legal compliance. Indeed, registering a company is mandatory from a legal standpoint but it can also unlock various benefits such as extended service life, robust management, and simplified decision-making. All these benefits lead to better control and growth in the long run. Obtaining company registration involves complying with various steps such as form filling, dossier preparation, appointing directors, arranging capital, etc. Let’s delve into the exact process and legalities concerning company registration in Bangalore.
Types of Company Registration in Bangalore
The section below illustrates the types of company registration in Bangalore. You can pick one of the structures based on your requirements and risk appetite to handle compliance and taxes.
One-Person Company (OPC):
A One-person company is a legal structure suitable for individual entrepreneurs intending to run the company with the utmost control. Despite being governed by the Companies Act, 2013, this structure embraces minimal compliances, enabling hassle-free decision-making and running without sizeable management.
Limited Liability Partnership (LLP):
LLP is a partnership-based structure that works best for individuals seeking to achieve common business goals via collective endeavours. LLP is a refined version of the partnership firm and has more stability and flexibility. It falls under the LLP Act 2008.
Private Limited Company:
The private limited company falls under the Companies Act 2013, which underpins registration norms and operational compliance. It is among the most popular business structures in the country. It is best known for its extended longevity and improved flexibility.
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Public Limited Company:
A public limited company is an ideal structure for organizations seeking to go public for fundraising via the stock market. This structure can help entities turn into sizeable establishments. Public entities are akin to private limited organizations and OPCs on account of the governing legislation.
Legalities concerning company registration in Bangalore
Before you apply for company registration in Bangalore, make sure you keep the following points in mind to avoid any complications.
- A minimum of two directors is required for registering a private limited company in India. In the case of an OPC and public limited company, this requirement is 1 and 3, respectively.
- The company name should adhere to uniqueness from a legal standpoint. Avoid names that are already in use or protected under the Trademark Act.
- Every director and shareholder must have DIN and DSC. DIN stands for Director Identification Number, while the DSC is abbreviated for Digital Signature Certificate.
- The registration requires the drafting of charter/founding documents i.e. Memorandum of Association and Article of Association.
- The registered business place should be there before applying for the company registration.
- The company can appoint an overseas individual as a director.
Understanding paperwork concerning Company Registration in Bangalore
Proof of Registered Office Address
- Electricity, gas, internet, or water bill
- Rental agreement and NOC from the owner (if the premises are leased)
- Latest property tax receipts
- Sale deed or property registration deed (if the premises are owned)
PAN Card
- PAN card for each director and shareholder
ID Proof
Any one of the following documents for each director and shareholder:
- Aadhaar card
- Voter ID card
- Driving license
- Passport (for foreign nationals)
Address Proof
Any one of the following documents for each director and shareholder:
- Bank account statement
- Latest electricity, water, or internet bill
- Mobile bill not older than three months
- Resident card, bank statement, or driving license (for foreign nationals)
A Step-by-Step Guide for Company Registration in Bangalore
Securing a company registration in Bangalore requires following the given steps:
- Secure DSC and DIN for all the directors. The DIN is granted by the MCA, while the DSC is issued by the MCA-acknowledged agencies.
- Visit the MCA portal and get access to form SPICe+. The said form has two parts viz. Part A and Part B.
- Fill out Part A to legitimize the company name. You can provide MCA with 3 name options for name reservation.
- Next, fill out Part B, which helps secure company registration.
- Share soft versions of the charter documents viz. eMOA and eAOA.
- File the AGILE-PRO form to register with ESIC, GST, EPFO and open a bank account.
- Share the supporting dossiers.
- Upload the completely filled SPICe+ form on the MCA portal after authenticating it via DSC.
- Head to the payment gateway to furnish the registration fee and ROC stamp duty. Make sure to secure the challans after fee submission.
- The MCA shall vet the paperwork and get it reviewed by concerned departments for accuracy and compliance. The final approval shall come from RoC.
- RoC shall grant the registration alongside the PAN and TAN of the company.
Notable compliances for entities holding the company registration in Bangalore
| Compliance | Description | Due Date/Frequency |
| Board Meetings | Companies must hold at least four board meetings annually, with no more than 120 days between consecutive meetings. | Quarterly |
| Annual General Meeting (AGM) | An AGM must be conducted each year to review financial statements and discuss company matters. | Within six months from the end of the financial year |
| Annual Return (Form MGT-7) | Submission of an annual return detailing the company’s registered office, business activities, shareholding, etc. | Within 60 days from the date of the AGM |
| Financial Statements (Form AOC-4) | Filing of the company’s balance sheet, profit and loss account, and directors’ report. | Within 30 days from the date of the AGM |
| Appointment of Auditor (Form ADT-1) | Appointment of an auditor for a five-year term and notifying the Registrar of Companies (RoC). | Within 15 days from the AGM |
| Director’s Report | Preparation and submission of the Director’s Report, including required information and annexures. | Annually, along with the financial statements |
| Income Tax Return | Filing the company’s income tax return with the Income Tax Department. | By September 30th of the assessment year |
| Maintenance of Statutory Registers | Keeping statutory registers updated at the registered office, such as the Register of Members and Register of Directors. | Continuous |
| Minutes of Meetings | Accurate recording and maintenance of minutes for board meetings, shareholder meetings, and committee meetings. | Continuous |
| Compliance Certificate from CS | For companies with a paid-up share capital of ₹10 crores or more, obtaining an annual compliance certificate from a practicing Company Secretary. | Annually |
| Declaration of Commencement of Business | Filing a declaration before starting business operations or borrowing funds. | Within 180 days of incorporation |
| Annual Form DIR-3 KYC | Annual KYC (Know Your Customer) filing for Directors through Form DIR-3 KYC. | By September 30th of every financial year |
| Form DPT-3 | Submission of a return detailing deposits or transactions not considered as deposits. | Annually, before June 30th |
Conclusion
Company registration is a document that only not legitimizes the company’s identity but also opens doors to endless possibilities that drive growth and prosperity. Securing a company registration in Bangalore requires a professional approach since it attracts delicate paperwork and intricate compliance.
To ease the blow, you can get in touch with a professional firm like Adviso- a premier one-stop destination for license-seekers in India and abroad. Our impeccable grasp of the paperwork and compliance makes us a standout partner. We promise to deliver the registration and necessary approvals in record time while staying compliant throughout the process.
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