Private Limited Company Registration in Bangalore

A business that does not have shares with the public groups is said to have limited trading scope, hence its name ‘Private Limited’. These types of companies are usually formed by a small group of individuals, with a minimum 2 shareholders and it can have a maximum of up to 50.

When an entrepreneur (s) has high-end business aspirations in their long-run, then going with a private limited company (Pvt Ltd) would be ideal; owing to the many benefits of this business structure. But brands under the Companies Act of 2013 alone avail the perks. Such businesses undergo the procedure of official registration in Bangalore.

If your business is a private company based in Bangalore, then the opportunities for stability and growth are comparatively plenty. Here are some chief advantages that you will avail from completing the protocols of registration in Bangalore.

1. Limited Liability – As a director or shareholder of the company, you will not lose any personal assets, during at times of unforeseen financial crises. So, your liability is limited only to the initial amount invested, to start a business in Bangalore.
2. Access to Funding – Your business will attract more investors into the funding platform. Moreover, Equity Investors and Venture Capitalists are noted generally for preferring private limited companies over others.
3. Borrowing Capacity – The scope for taking a business debt is more here as compared to an LLP or a general partnership firm. You can also avail fund by issuing  convertible debentures and non-convertible debentures.

4. Greater Credibility –  While proprietorships do not share their information, private businesses, when marking themselves in the ‘Registrar of Companies’, imbibe a sense of credibility and transparency in their operations.
5. Easy Exit – You can opt for selling your brand to another business or an individual, either partially or fully. So, the room for your exit strategies is quite more here. And yet, your current business operations are not hampered in any way.
6. Expanding Internationally – With the support of automatic routing, your private limited company can get 100% Foreign Direct Investment (FDI). This way, your brand can open new avenues for international trading and collaborations.
7. Scope of Multiple Opportunities – Not experienced much with other business structures, but a brand that has furnished private limited company registration in Bangalore gets higher options to enter other domains and add new verticals.
8. Better Governance – As per the Companies Act, 2013, your brand stringently must comply with certified procedures and disclose norms. But, if you are the owner of the company, rest assured that you have better governance of the processes.

Before you start with the steps for registration in Bangalore, your business has to get identified as a Private Limited agency. So, cross-check with the below-stated fundamental criteria:

• Shareholders – There must be 2 shareholders in minimum but can go up to the range of 200 persons maximum.
• Directors – There should be two business directors, and a maximum of 3 are allowed during the initial time of business Incorporation.
• Nationality – Foreign Nationals and NRI are welcome to direct the business, but one of them must be an Indian Resident.
• Capital – There is no minimum capital requirements as per the Companies Act 2013.
• Ownership – Both the shareholder and the director of the company can be the same person if required.
• DIN – All the directors of the company must possess a Director Identification Number.
• DSC – A Digital Signature Certificate has to be issued for any 1 witness and 2 promoters respectively.

Owing to the revamped protocols by the MCA, (effective from 26th January 2018), there are only a few simple steps to follow and you are done with the private limited company registration in Bangalore city:

Start by hiring a reputed and experienced chartered accountant in Bangalore location. Following which, you should give them the details and other internal information about your business:

1. Upon the expert’s suggestions and advice, you will be assigned with a Relationship Manager to coordinate with the works and procure the Digital Signature Certificate [DSC].
2. Object drafting and name application procedure will take place as a next step. Once the name is approved by the Govt with the directors and shareholders proof and companies address proof submit the final form ie Spice 32 with the government.
3. Once the application is approved by the government , you will get Certificate of Incorporation, PAN and TAN, Director Identification Number(DIN), ESIC and PF registration Numbers.

If you are looking for a professional CA to support your Pvt Ltd company registration in Bangalore, then we have got you covered. Besides the expertise, what makes us standalone from the rest is our pricing. We fix a nominal total fee for your requirement and guarantee that you get the right and most value for your money!

In the presence of our experienced accountants and business intelligence specialists, BSJ & Associates will help you get quality and timely services on a Pvt Ltd company registration in Bangalore city.

Ring us at 080 – 4146525 and get cost-effective value-added services such as Business Formation, Audit & Assurance, and Project Finance, from the hands of experts online!