Introduction to Doing Business in Bengaluru
Bengaluru (formerly Bangalore) is the capital of the south Indian state of Karnataka. The city of Bengaluru is also called “The Silicon Valley of India”. Bengaluru is famous for it’s buzzing IT sector and a great lifestyle for working professionals. It is also India’s first ever IT outsourcing destination. Bengaluru also has a very successful textiles industry running parallel to the booming IT industry. The state of Karnataka has risen as the 6th best state in the country in the ease of doing business rankings. A large part of that contribution comes because of the easy and simplistic process of Private Limited Company Registration in Bengaluru
The city of Bengaluru is the best city in the country for dealing with construction permits and as the 4th best city in the country for registering property categories of ease of doing business rankings. Bengaluru ranks as the 17th best city to start your business. This serves as a great motivation to start your company in Bengaluru.
What is a Private Limited Company?
A private limited company, or LTD, is a type of privately held small business entity. This type of business entity limits owner liability to their shares limits the number of shareholders to 50 and restricts shareholders from publicly trading shares.
The Ministry of Corporate Affairs is also making great progress towards cutting down on the processing time of company registration application. A provision of One-Day Company Incorporation with SPICe has been introduced to make the process of company registration less tedious and hassle-free. You can also look at how much does it cost to start and run a private limited company.
Pre-requisites for Private Limited Company Registration in Bengaluru
- 2 Directors
- 2 Shareholder
- Registered Office Address (Residential/ Non-Residential)
Process for Private Limited Company Registration in Bengaluru
- Apply for Digital Signature Certificate (DSC).
- Apply for Director Identification Number (DIN)
- Name Approval application with Registrar of Companies (ROC), Bangalore. Check out the address for your ROC here.
- Apply for Registration with the new SPICe INC-32 forms
- Aquire Registration Certificate.
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Declaration and Affidavit by directors and first subscribers
- Proof of Office Address
- Utilities Bills’ Copy not more than 2 months old (Electricity, Gas, Water Bills etc.)
- Copy of approval if the proposed name is containing words/expressions which need authorization by the Central government
- In case of proposed name based upon a registered trademark then it is mandatory to attach trademark registration certificate or trademark application copy
- NOC from sole proprietors partners /associates/ existing company
- Proof of identity and residential address of subscribers.
- Proof of identity and residential address of directors.
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