ONLINE COMPANY REGISTRATION IN BANGALORE KARNATAKA

A company as defined under section 2(20) of the Companies Act, 2013 (herein referred as ‘the Act’) is a company registered under the Companies Act or any other previous company law. Company registration in India is under the Companies Act, 2013. It is noteworthy that a firm is a separate legal entity distinct from its members. It is a legal person i.e., an artificial or a fictitious person existing in the eyes of law. It has perpetual succession. It can own a property. It can sue and be sued. It can enter into contracts and can incur obligations. To get your firm registered refer to Online company registration in Bangalore Karnataka portal.

        

What is a Private Limited Company? By Online Company Registration in Bangalore Karnataka

Section 2(68) of the Act defines a private limited company as a firm with a minimum paid-up share capital of one lakh rupees or any such amount as agreed in the memorandum with a restriction on the transferability of shares and a minimum number of members shall be two hundred except in case of OPC read more about private limited firm at online company registration in bangalore karnataka. Some of the characteristics of a private limited company has been discussed below:-

  1. According to the provisions of the Companies Act, for a private limited company minimum two members are required and maximum there can be two hundred members.
  2. The liability of all the members and shareholders as in this case is limited depending upon the kind of company. If a company is limited by shares, the liability of the shareholders extends to the amount of unpaid share capital [section 4(d)(i)]. On the other hand, if the company is limited by guarantee, the liability is only to the extent of the sum of money guaranteed [section 4(d)(ii)].
  3. A private company is not statutorily required to maintain an index of members, unlike a public company.
  4. A private company can be formed with just a minimum of two directors.
  5. The minimum paid-up capital in case of a private company is one lakh rupees.
  6. A private company is not required to issue a prospectus. It is because a private company cannot raise money from the public, unlike a public company.
  7. For a private company, it is mandatory to raise an amount equivalent to 90% of the shares issued within a particular time period known as a minimum subscription. If the company fails to raise minimum subscription, it cannot continue with its further business. As against this, a public company can allot shares even if it has not received the minimum subscription.
  8. All private limited companies have to mandatorily use the word private limited after its name. Here at Online Company Registration in Bangalore Karnataka portal we provide services related to company registration, company incorporation in bangalore and many more.

          

What are the different types of company registration in India? Explained by Online Company Registration In Bangalore Karnataka Portal

Company registration refers to a process of getting statutorily recognized and legal validity to conduct its business. The following are the different types of company registration in India source online company registration in bangalore karnataka portal:-

Know about Partnership firm on Online Company Registration In Bangalore Karnataka Portal

Section 4 of the Partnership Act, 1932 defines partnership as the relationship between the persons who have mutually agreed to share the profits from a business administered by all or any of them acting for all. There are at least two persons required for the registration of a partnership firm. Two essential features of a partnership firm-conducting a business and with a common profit motive. These persons are individually called ‘partners’ and collectively called ‘firm’.

Specific info on Sole proprietorship at Online Company Registration In Bangalore Karnataka

It is the simplest form of business operation. It is not a legal entity in a literal sense. The sole proprietor is the owner of the business and is personally liable for the debts of the creditors. So in the case of financial distress, the creditors are entitled to bring suits against the owner. The owner either operates in his own name or use a fictitious name. Typically, the owner enters into a contract in his own name. The income of a sole proprietor is taxable.           

More about Public Limited Company by Company Registration In Bangalore Karnataka

Section 2(71) of the Act defines the public company as a company other than private companies. Some essential features of public limited companies are as follows:-

  • No restriction on the transfer of shares.
  • Minimum seven shareholders.
  • Minimum three directors.
  • Business commencement certificate from Registrar of Companies

It can issue share to the public. Public companies are mandated to publish its financial state to the shareholders from time to time.

Know more about Limited Liability Partnership only at online company registration in bangalore karnataka

It can be called as a hybrid of company and partnership firm. It should have a minimum of two partners. There is no bar on the maximum number of partners. Every firm has to use ‘limited liability partnership or ‘LLP’ in their name. The foreign companies or foreign LLPs can become partners in the limited liability partnership firm in India. A living person– natural or artificial can be a partner in the firm.

What is Section 8 company read more on online company registration in bangalore karnataka

Section 8 of the Act deals with companies for charitable purposes. A company formed to promote art, commerce, science, sports, education, research, social welfare, religion, charity, protection of environment etc and allocate its dividends in furtherance of these objects is known as companies with charitable purposes. Any company registered as a company with charitable purposes are subject to the right and obligations of all limited companies. A firm can be a member of such type of companies.   

Detail info on One person company at online company registration In bangalore karnataka portal

It is an evolving concept in India. Only a resident of India is eligible to incorporate one person company. The minimum paid-up capital required for one person company is one lakh rupees. There are certain privileges and exemptions available to one person company as against a private company. A sole person can be a director and shareholder simultaneously. It is beneficial, particularly for small businesses.   

Read more about Private Limited Company on company registration in bangalore karnataka Portal

The private limited companies are the most important business entities in India. Section 2(68) of the Act defines a private limited company as a company with a minimum paid-up share capital of one lakh rupees or any such amount as agreed in the memorandum with a restriction on the transferability of shares and a minimum number of members shall be two hundred except in case of OPC. If a company is limited by shares, the liability of the shareholders extends to the amount of unpaid share capital [section 4(d)(i)]. On the other hand, if the company is limited by guarantee, the liability is only to the extent of the sum of money guaranteed [section 4(d)(ii)]. An unlimited company is a company which has no restriction and limitation on the liability of its members. 

 

Online Company Registration in Bangalore Karnataka India

It is a crucial decision to choose a suitable form of company registration in bangalore karnataka India. It is because the Income Tax computation largely depends on the form of the company. While registering a company, the applicant should keep in mind that each company has a different type of compliance’s which are to be met. For example, a company has to file both income tax returns and annual returns with the Registrar of Companies but a proprietor is required to file an only income tax return.      

Step 1: First and foremost one has to obtain a Digital Signature Certificate. It is required for online company registration in bangalore karnataka India. All the subscribers, members and witnesses in the memorandum of the association have to mandatorily put their signatures digitally. Such certificates should be from government certified agencies. The cost of obtaining the Certificate varies depending upon the certified agency. The representative should opt for either class 2 category or class 3 category of digital signature certificate. In case of class two category, the identity of a person is verified against a pre-verified database whereas the person has to be physically present before the registering authority in order to prove his identity in case of the latter. This source information is provided by online company registration in bangalore karnataka.

Step 2: For Company Registration in Bangalore Karnataka application form for Director Identification Number

As the name suggests, Director Identification Number is for a director. So any person who wishes to become a director in a company will have to apply for the director identification number. One director identification number suffices for being a director in numerous companies. Director Identification Number can be obtained in three ways:-

  • By filling form DIN 3. This form comprises of basic details of the proposed director along with his identity proof such as PAN, Aadhaar Card, address proof etc. however, this option is available only for the existing companies.
  • In the course of filing SPICe, Director Identification Number is issued to the proposed directors who don’t have the number. Through this process of filling SPICe, maximum three directors can register themselves. Now supposedly, a company wants to have more than three directors from the time of incorporation and three of them don’t have a director identification number, for the time being only three directors can be registered and thereafter, new directors can be appointed.  

Step 3: For Company registration in bangalore karnataka Form for the Approval of the name of the Company 

The name is to be approved by following any of the two procedures:-

  • Incorporation of a company using Reserve Unique Name form. To ease out the procedural complexities, the Ministry of Corporate Affairs has introduced this web service for the incorporation of a company. The Reserve Unique Name form provides only one chance of getting the name registered. Where the proposed name has been rejected due to the similarity of existing names of the companies or breach of trademark or non-compliance with the Act, there is no second chance. Under such circumstances, the applicant has to re-file the Reserve Unique Name form with the requisite fee.     
  • The applicant can apply for the name via SPICe (INC-32). In such cases, the applicant can give only one name similar to the reserve unique name form. On non-approval of the name, the applicant shall get a chance to refile the SPICe (INC-32) without any further charges. This means that for the same amount, the applicant can file two names. The whole process takes two-three days to complete. For more enquiry visit online company registration in bangalore karnataka.     

Step 4: Filing the form SPICe (INC-32) for company registration in bangalore karnataka

The Ministry of Corporate Affairs has particularly introduced the SPICe (INC-32) to simplify the procedure for incorporating a company electronically. The form can be simultaneously used for the allotment of Director Identification Number, reservation of company name, incorporation of a new company and application for PAN and TAN. A professional is required to digitally sign the SPICe (INC-32) form. He must certify that all the information thereby stated is correct. This professional can be a Chartered Accountant, Company Secretary, Cost Accountant or an advocate. Companies with authorized capital up to 10 lakhs are not required to pay any fees to the Registrar of companies. With effect from March 18, e-form INC-1 and INC-7 have been omitted.           

Step 5: Filing of e-MOA (INC-33) and e-AOA (INC-34) for company registration in bangalore karnataka

Now an e-version of a memorandum of association and articles of association can be filed along with the form. The former is the charter of the company while the latter governs the internal management of the company. Both the documents are to be digitally signed by the subscribers of the memorandum and articles of association. Previously, these two documents were to be filed physically.

Step 6: Application for PAN and TAN for company registration in bangalore karnataka 

The applicant can apply for company’s PAN and TAN via forms 49A and 49B respectively. The system shall auto-generate these forms on submission of the SPICe form. The form has to be downloaded, the digital signatures are to be affixed and the requisite forms will have to be uploaded on the Ministry of Corporate Affairs portal. Where all the details have been duly filled and the requisite documents submitted, the Registrar shall register the company and issue a Corporate Identity Number.       

Difference between a Private Limited Company, Limited Liability Partnership, One Person Company, Proprietorship, and Partnership by Online Company Registration In Bangalore Karnataka

Section 4 of the Partnership Act, 1932 defines partnership as the relationship between the persons who have mutually agreed to share the profits from a business administered by all or any of them acting for all. There are at least two persons required for the registration of a partnership firm. Two essential features of a partnership firm-conducting a business and with a common profit motive. These persons are individually called ‘partners’ and collectively called ‘firm’. Source information given by online company registration in bangalore karnataka

A sole proprietorship is the simplest form of business operation. It is not a legal entity in a literal sense. The sole proprietor is the owner of the business and is personally liable for the debts of the creditors. So in the case of financial distress, the creditors are entitled to bring suits against the owner. The owner either operates in his own name or use a fictitious name. Typically, the owner enters into a contract in his own name. The income of a sole proprietor is taxable. Get detailed enquiry on querries related to online company formation in bangalore karnataka or Pvt Ltd company registration in bangalore karnataka through online company registration in bangalore karnataka portal.       

One person company is an evolving concept in India. Only a resident of India is eligible to incorporate one person company. The minimum paid-up capital required for one person company is one lakh rupees. There are certain privileges and exemptions available to one person company as against a private company. A sole person can be a director and shareholder simultaneously. It is beneficial, particularly for small businesses. For consultancy regarding to Pvt Ltd company registration in bangalore visit online company registration in bangalore karnataka.

Limited Liability Partnership can be called as a hybrid of company and partnership firm. It should have a minimum of two partners. There is no bar on the maximum number of partners. Every firm has to use ‘limited liability partnership or ‘LLP’ in their name. The foreign companies or foreign LLPs can become partners in the limited liability partnership firm in India. A living person– natural or artificial can be a partner in the firm. Get detailed information between various types of companies only at company registration in bangalore karnataka.

 

Private Limited Company Partnership Limited Liability Partnership Sole Proprietor One Person Company
Registered with the Ministry of Corporate Affairs under the Companies Act, 2013 Registration is optional  and if registered it is to be under the Partnership Act, 1932 Registered with the Ministry of Corporate Affairs under the Limited Liability Partnership Act, 2008 No formal registration Registered with the Ministry of Corporate Affairs under the Companies Act, 2013
Prior approval of the Registrar is compulsory. Names which are identical or similar to an existing company or LLP are to be avoided. The term ‘private limited’   No approval required for usernames. But it is suggested to avoid trademarked names. It is solely the discretion of the promoter.    Prior approval of the Registrar is compulsory. Names which are identical or similar to an existing company or LLP are to be avoided. The term ‘limited liability partnership’ or ‘LLP’   No approval required for usernames. But it is suggested to avoid trademarked names. It is solely the discretion of the promoter.    Prior approval of the Registrar is compulsory. Names which are identical or similar to an existing company or LLP are to be avoided. The term ‘OPC’ or ‘one person company’.   
It is recognized as a distinct legal entity. The promoters are not personally liable for the liabilities arising out of the company. It is not recognized as a distinct legal entity. The promoters are personally liable for the liabilities arising out of the partnership. It is recognized as a distinct legal entity. The promoters are not personally liable for the liabilities arising out of the partnership. It is not recognized as a distinct legal entity. The promoters are personally liable for the liabilities arising out of the proprietorship. It is recognized as a distinct legal entity. The promoters are not personally liable for the liabilities arising out of the company.
The shareholders have limited liability. Their liability is only to the extent of their unpaid share capital or the amount guaranteed. The members have unlimited liability. Their liability arises for all the acts of the partnership.    The partners have limited liability. Their liability is only to the extent of their contribution to the partnership. The members have unlimited liability. Their liability arises for all the acts of the proprietorship.    Directors and nominee directors have limited liability to the extent of their unpaid share capital or the amount guaranteed.
Minimum two persons have to be members to start a private limited company. Minimum two persons have to be members to start a partnership. Minimum two persons have to be members to start a limited liability partnership. Only one person can be a member. Minimum two persons have to be members to start a one-person company namely, director and nominee director.
Maximum 200 shareholders or members. Maximum partners can be 20. Unlimited partners.   Only one member of the sole proprietorship. Only two members i.e., director and nominee director.
Foreigners are permitted to invest in a private limited company under the automatic approval route in most sectors.   Foreigners are not permitted to start a partnership.   Foreigners are permitted to invest subject to the approval of the RBI and Foreign Investment Promotion Board. Foreigners are not permitted to start a proprietorship.   Foreigners are not permitted to start a one person company.  
Existence does not depend upon the existence of the member or shareholder. It can be dissolved either voluntarily or by order of the regulating authorities. Existence depends upon the existence of the partner. Existence does not depend upon the existence of the partner. It can be dissolved either voluntarily or by order of the Company Law Board. Existence depends upon the existence of the proprietor. Existence does not depend upon the existence of the partner. It can be dissolved either voluntarily or by order of the regulating authorities.
The profits derived from the private company is charged at the rate of 30% plus surcharge and cess as applicable. The profits derived from the partnership firm is charged at the rate of 30% plus surcharge and cess as applicable. The profits derived from the limited liability partnership firm is charged at the rate of 30% plus surcharge and cess as applicable. Taxes based on the total income of the proprietor. The profits derived from the one person company is charged at the rate of 30% plus surcharge and cess as applicable.
Required to file an annual statement of accounts with the Registrar of companies every year.    Not required to file an annual report with the Registrar of companies. The income tax return is to be filed for the partnership. Required to file an annual statement of accounts with the Registrar of companies every year.    Not required to file an annual report with the Registrar of companies. The income tax return is founded on the income of the proprietor. Required to file an annual statement of accounts with the Registrar of companies every year.   

 

The process of Online Company Registration In Bangalore Karnataka India 

Step 1: First and foremost one has to obtain a Digital Signature Certificate. It is required for online registration of companies in India. All the subscribers, members and witnesses in the memorandum of the association have to mandatorily put their signatures digitally. Such certificates should be from government certified agencies. The cost of obtaining the Certificate varies depending upon the certified agency. The representative should opt for either class 2 category or class 3 category of digital signature certificate. In case of class two category, the identity of a person is verified against a pre-verified database whereas the person has to be physically present before the registering authority in order to prove his identity in case of the latter.

Step 2: For Company registration in Bangalore karnataka application form for Director Identification Number

As the name suggests, Director Identification Number is for a director. So any person who wishes to become a director in a company will have to apply for the director identification number. One director identification number suffices for being a director in numerous companies. Director Identification Number can be obtained in three ways:-

  • By filling form DIN 3. This form comprises of basic details of the proposed director along with his identity proof such as PAN, Aadhaar Card, address proof etc. however, this option is available only for the existing companies.
  • In the course of filing SPICe, Director Identification Number is issued to the proposed directors who don’t have the number. Through this process of filling SPICe, maximum three directors can register themselves. Now supposedly, a company wants to have more than three directors from the time of incorporation and three of them don’t have a director identification number, for the time being only three directors can be registered and thereafter, new directors can be appointed.

 

Step 3: For company registration in bangalore karnataka approval of the name of the Company

The name is to be approved by following any of the two procedures:-

  • Incorporation of a company using Reserve Unique Name form. To ease out the procedural complexities, the Ministry of Corporate Affairs has introduced this web service for the incorporation of a company. The Reserve Unique Name form provides only one chance of getting the name registered. Where the proposed name has been rejected due to the similarity of existing names of the companies or breach of trademark or non-compliance with the Act, there is no second chance. Under such circumstances, the applicant has to re-file the Reserve Unique Name form with the requisite fee.     
  • The applicant can apply for the name via SPICe (INC-32). In such cases, the applicant can give only one name similar to the reserve unique name form. On non-approval of the name, the applicant shall get a chance to refile the SPICe (INC-32) without any further charges. This means that for the same amount, the applicant can file two names. The whole process takes two-three days to complete.            

Step 4: Filing the form SPICe (INC-32) for company registration in bangalore karnataka

The Ministry of Corporate Affairs has particularly introduced the SPICe (INC-32) to simplify the procedure for incorporating a company electronically. The form can be simultaneously used for the allotment of Director Identification Number, reservation of company name, incorporation of a new company and application for PAN and TAN. A professional is required to digitally sign the SPICe (INC-32) form. He must certify that all the information thereby stated is correct. This professional can be a Chartered Accountant, Company Secretary, Cost Accountant or an advocate. Companies with authorized capital up to 10 lakhs are not required to pay any fees to the Registrar of companies. With effect from March 18, e-form INC-1 and INC-7 have been omitted.    

Step 5: Filing of e-MOA (INC-33) and e-AOA (INC-34)

Now an e-version of a memorandum of association and articles of association can be filed along with the form. The former is the charter of the company while the latter governs the internal management of the company. Both the documents are to be digitally signed by the subscribers of the memorandum and articles of association. Previously, these two documents were to be filed physically.

Step 6: Application for PAN and TAN for company registration in bangalore karnataka     

The applicant can apply for company’s PAN and TAN via forms 49A and 49B respectively. The system shall auto-generate these forms on submission of the SPICe form. The form has to be downloaded, the digital signatures are to be affixed and the requisite forms will have to be uploaded on the Ministry of Corporate Affairs portal. Where all the details have been duly filled and the requisite documents submitted, the Registrar shall register the company and issue a Corporate Identity Number.

 

Major reasons for Private Limited Company Registration in India. Suggested by Online Company Registration In Bangalore Karnataka

The major reasons for Private Limited Company registration in bangalore karnataka India are as follows:-

  1. Separate legal entity-the members of a company have no liability towards the creditors of the company for the debts incurred by the company. The company is the owner of its property.    
  2. Perpetual succession- the company has continued or uninterrupted existence unless it is dissolved by the operation of law. It remains unaffected with the death of its member or changes in the membership of the company.
  3. Limited liability- the term ‘limited liability’ implies being responsible under the law to a limited extent to the debts of the company. Unlike proprietors and partners, the liability of the members of a company is limited. Technically speaking, the liability of the members is limited to the extent of the unpaid share capital or the amount guaranteed.
  4. Transferability of shares- the shares of a private company are easily transferable by an existing shareholder to another person as compared to the transfer of an interest in the business in a partnership or proprietorship. The shareholder only needs to file the signed share transfer form and subsequently, handover the shares to the buyer with the share certificate.   
  5. Owner of property- since a company is a juristic person so it can acquire, own, enjoy and alienate property in its own name. The shareholders can neither make any claim over the property of the company nor are the owners of the property. Only the company is the true owner of the property.
  6. Sued and be sued- just like a natural person a company can sue and be sued in its own name.
  7. Dual relationship- the company can enter into a contract with its members. A person can be an employee of the company and simultaneously in control of the company.
  8. Borrowing capacity- a company can easily borrow funds. It can borrow from banks, non-banking financial institutions or issue debentures. Get effective consultancy related to Pvt Ltd company registration in bangalore karnataka and many others at online company registration in bangalore karnataka

 

Benefits of Private Limited Company Registration in India Through Online Company Registration In Bangalore Karnataka

The benefits of Private Limited Company registration in bangalore karnataka in India are as follows:-

  • Separate legal entity-the members of a company have no liability towards the creditors of the company for the debts incurred by the company. The company is the owner of its property.
  • Perpetual succession- the company has continued or uninterrupted existence unless it is dissolved by the operation of law. It remains unaffected with the death of its member or changes in the membership of the company.
  • Limited liability- the term ‘limited liability’ implies being responsible under the law to a limited extent to the debts of the company. Unlike proprietors and partners, the liability of the members of a company is limited. Technically speaking, the liability of the members is limited to the extent of the unpaid share capital or the amount guaranteed.
  • Transferability of shares- the shares of a private company are easily transferable by an existing shareholder to another person as compared to the transfer of an interest in the business in a partnership or proprietorship. The shareholder only needs to file the signed share transfer form and subsequently, handover the shares to the buyer with the share certificate.   
  • Owner of property- since a company is a juristic person so it can acquire, own, enjoy and alienate property in its own name. The shareholders can neither make any claim over the property of the company nor are the owners of the property. Only the company is the true owner of the property.
  • Sued and be sued- just like a natural person a company can sue and be sued in its own name.
  • Dual relationship- the company can enter into a contract with its members. A person can be an employee of the company and simultaneously in control of the company.
  • Borrowing capacity- a company can easily borrow funds. It can borrow from banks, non-banking financial institutions or issue debentures. At online company registration in bangalore karnataka we provide consultancy regarding online company formation in bangalore karnataka.

           

Documents Required for Online Company Registration in Bangalore Karnataka India

The documents required for Online Company Registration in Bangalore karnataka India are as follows:-

When the directors are Indian Nationals

  • A copy of the PAN card shall be required of the proposed director. PAN or permanent account number is nothing but a unique identification number issued by the Department of Income Tax. Every such proposed director is obliged to submit a copy of their PAN card in the course of the incorporation process.   
  • The proposed director is also mandated to send an address proof. It is to be ensured that the name of the proposed director in the address proof shall be the same as mentioned in the PAN card and the present address of the director. Moreover, the document shall also not be more than 2 months old. Some of the documents accepted as valid address proof are as follows:-
  • Passport
  • Election card or voter identity card
  • Ration card
  • Driving license
  • Electricity bill
  • Telephone bill
  • Aadhaar card
  • A residential proof is also required to be submitted during the incorporation process just to validate/support the present address of the proposed director. Like address proof, the name of the proposed director in the address proof shall be the same as mentioned in the PAN card. Moreover, the document shall also not be more than 2 months old. Some of the documents accepted as valid residential proof are as follows:-
  • Bank statement
  • Electricity bill
  • Telephone bill
  • Mobile bill

When directors are foreign nationals  

  • A copy of their passport shall be required of the proposed director as a proof of their identity. The passport needs to be notarized or apostilled in the country of issue. Additionally, if the passport is in a foreign language, it ought to be translated to English by the official translator and notarized or apostilled. Moreover, if the passport does not specify the date of birth, an additional document specifying the date of birth should be provided certified or attested or notarized or apostilled. For consultancy related to registration process visit company registration in bangalore karnataka portal.
  • The proposed director is also mandated to send an address proof. It is to be ensured that the name of the proposed director in the address proof shall be the same as mentioned in the passport and the present address of the director. Moreover, the document shall also not be more than 1 year old. Some of the documents accepted as valid address proof are as follows:-
  • Driving license
  • Residence card
  • Bank statement
  • Government-issued identity form containing address proof.

In case any of the document is in a foreign language, it should be translated to English by the official translator and notarized or apostilled.

  • A residential proof is also required to be submitted during the incorporation process just to validate/support the present address of the proposed director. Like address proof, the name of the proposed director in the address proof shall be the same as mentioned in the passport. Moreover, the document shall also not be more than 1 year old. Some of the documents accepted as valid residential proof are as follows:-
  • Bank statement
  • Electricity bill
  • Telephone bill
  • Mobile bill

 In case any of the document is in a foreign language, it should be translated to English by the official translator and notarized or apostilled.

Proof of registered office

The proof of the registered office must be submitted either during the company registration process or within 30 days of the incorporation of the incorporation of the company. Some of the documents accepted as valid proof of the registered office are as follows:-  

  • The registered document showing that the title of the property where the registered office is situated is in the name of the company.
  • The notarized copy of lease or rent agreement in the name of the company along with a copy of the rent paid. The receipt shall not be more than one month old.

Some of the other documents required to be submitted:-

  • The authorization so received by the landlord to use the premises by the company as it’s a registered office. It is also known as no objection certificate from the landlord. The name of the landlord shall be as mentioned in the electricity bill, gas bill, water bill, property tax receipt or sale deed.
  • Any proof of utility services such as telephone, gas, electricity etc indicating the address of the premises in the name of the owner. Moreover, the document shall also not be more than 2 months old. For all your queries regarding online company registration in bangalore visit company registration in bangalore karnataka portal.

Where shareholders are Indian or Foreign nationals  

The identity and address proof of all the shareholders of the company (subscribers to the memorandum and articles of association) along therewith.

Where shareholders are a corporate entity or an artificial person

In case the subscribers to the memorandum and articles of association are corporate entities or artificial person under such circumstances the certificate of incorporation of the body corporate must be annexed along with the resolution passed by such body corporate to subscribe to the shares of another body corporate which is under the incorporation.

Apart from the above mention documents, several other documents like INC-9, memorandum of association and articles of association are to be drafted by the professionals. Such documents so prepared are required to be signed and notarized by the promoters of the company.

 

Various Advantages of Online Company Registration in Bangalore Karnataka India  

The advantages of Private Limited Company registration in bangalore karnataka India are as follows:-

  • Separate legal entity-the members of a company have no liability towards the creditors of the company for the debts incurred by the company. The company is the owner of its property.   
  • Perpetual succession- the company has continued or uninterrupted existence unless it is dissolved by the operation of law. It remains unaffected with the death of its member or changes in the membership of the company.
  • Limited liability- the term ‘limited liability’ implies being responsible under the law to a limited extent to the debts of the company. Unlike proprietors and partners, the liability of the members of a company is limited. Technically speaking, the liability of the members is limited to the extent of the unpaid share capital or the amount guaranteed.
  • Transferability of shares- the shares of a private company are easily transferable by an existing shareholder to another person as compared to the transfer of an interest in the business in a partnership or proprietorship. The shareholder only needs to file the signed share transfer form and subsequently, handover the shares to the buyer with the share certificate.   
  • Owner of property- since a company is a juristic person so it can acquire, own, enjoy and alienate property in its own name. The shareholders can neither make any claim over the property of the company nor are the owners of the property. Only the company is the true owner of the property.
  • Sued and be sued- just like a natural person a company can sue and be sued in its own name.
  • Dual relationship- the company can enter into a contract with its members. A person can be an employee of the company and simultaneously in control of the company.
  • Borrowing capacity- a company can easily borrow funds. It can borrow from banks, non-banking financial institutions or issue debentures. Read about some more benefits related to private limited firms registration on online company registration in bangalore karnataka.

 

FAQ’s about Private Limited Company Registration by Online Company Registration In Bangalore Karnataka 

Is there any eligibility criteria to become a director or shareholder of a private limited company?

No formal professional or educational qualification is required for becoming a director or a shareholder of a private limited company. Any individual with a sound mind and above 18 can be a director or a shareholder.

Is there a possibility to convert sole proprietorship into a private company?

Yes, the sole proprietorship can be converted into a private company on complying with the incorporation and procedural formalities provided under the Companies Act, 2013.

Can a foreign entity become a director or shareholder of the private limited company?

Yes, any foreign nationals, entities and even non-residents of India, in fact, can become a director or shareholder of the private limited company.

Is it possible for a private limited company to raise money from the public?

No, a private limited company cannot raise money from the public.

Is it possible for a private limited company to have Foreign Direct Investment?

Yes, a private limited company is permitted to have Foreign Direct Investment.

How is paid up capital different from authorized capital?

The upper limit so authorized by the Registrar of Companies up to which shares can be issued to the member or the public is known as authorized capital. Conversely, paid-up capital is that portion of paid capital which has already been subscribed by the shareholders.

Is it possible to use a residential property as a registered office of the Company?

Yes, residential property as a registered office of the Company. However, the property should not be an empty land or a vacant building.

Is it possible for a registered office to be outside India?

No, the registered office should be mandatorily situated in India in accordance with the domestic laws.

Is it possible for two foreign companies to form a company in India?

Yes, it is possible for two foreign companies to form a company in India. The representatives of the two companies shall be appointed as Directors of Indian Company. The only condition is that one of the directors should be an Indian resident.

Is it compulsory for such companies to hold compulsory board meetings and do directors need to visit India for such purposes?

Yes, it is also compulsory for such companies to hold four compulsory board meetings in a financial year but the foreign directors are not required to attend the meeting in person. They can do so by way of video-conferencing.

 

Company Vakil

Company registration in India has been a simple and convenient with the introduction of the online registration process. Company Vakil is providing this kind of services to their customers. For more detail visit the company vakil website.