When we are talking about the Startups or Companies in India, the only one city of Karnataka state Bangalore is called “Silicon Valley” in India. In terms of business opportunities as per the Forbes magazine Bangalore consider as one of the next decade’s fastest growing cities. There are more than major 212+ software companies in its heart.So Let’s learn before starting any business in Bangalore you have to register a company. Company Registration in Bangalore is Online but you have to understand about the Karnataka registrar of companies.
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What is Registrar of Companies office in Bangalore or Karnataka State ?
As per the MCA(ministry of Corporate affairs) each state have their own ROC(Registrar of Firms). In terms of office, Maharashtra and Tamilnadu is the only state where they have two ROC so each state covered their own ROC which handles only their state companies. Bangalore ROC appointed under the section 609 of the Companies Act which is covered the state & union territory of the Karnataka state so its covered the Karnataka area like Bangalore | Mangalore | Mysore | Hubli | Hampi | Belgaum | Udupi and others nearby area . Bangalore ROC have a responsibility & duty of register the private limited company or any other type of the companies & LLP (limited liability partnership) & ensure these companies are complying with the statutory requirements of the act. The central government of India just only the control on Bangalore ROC by appointing respective regional directors. Contact Details of ROC Bangalore : Sh. M. JayaKumar (ROC Bangalore) ‘E’ Wing, 2nd Floor,Kendriya Sadana Kormangala, Banglore-560034 Phone: 080-25633105 (Direct), 080-25537449/25633104 Fax: 080-25538531 [email protected]
Steps for Company Registration in Bangalore or Karnataka State
Step 1 : Selection of the legal entity with Directors and Shareholders.
Step 2 : Proper mandatory documents of the Directors.
Step 3 : Digital signatures with USB Tokens of the Directors.
Step 4 : Selection of the Name of a Company with MCA and Trademark Search.
Step 5 : Preparation of rules of the Company policy.
Step 6 : Apply for the Permanent account number & Tax deduction account number.
Step 7 : Selection of proper banking.
Step 8 : Apply for the applicable tax registration.
Step 9 : Maintenance & filings to the ROC Bangalore.
Step 1 : Selection of the legal entity with Directors and Shareholders –
When you start company in Bangalore, that time you have the tech or non-technical partners or single founders. In Bangalore, there is a high ratio of engineers which are doing the job then choose the entrepreneurship path.In that your case, you have to choose the right legal entity like Private limited company | LLP (limited liability Partnership) | One Person Company. Depending upon the legal entity apart from the founders, if you have investors then you can call them as Shareholders. In most of the cases, in the starting founders & shareholders are the same because they are investing the money in business and run as bootstrapping. So here is the short guide to choosing the right legal entity to start a business in Bangalore City- a) Private Limited Company Registration – When you have the two co-founders or want to raise the money from angel investors or venture capitalist in future then always go with the private limited company registration in Bangalore. b) Limited Liability Partnership | LLP Registration – When you have two partners or co-founders but have enough money to invest in the startup for the long terms & need limited liability in the business then go with the LLP company registration in Bangalore. c) One Person Company Registration – OPC is similar to the private limited company so it’s a best when you are the single founder of the company & need just a limited liability in the business with company legal status and 100% control over the business then go with the One Person company registration in bangalore. Apart from above 3 legal entity if you have any business ideas which is untested then you have to always choose the simple sole proprietorship company registration in Bangalore to test the ideas before going proper pvt ltd company registration.
Step 2 : Proper mandatory documents of the Directors –
If you want to register a company in Bangalore then as a Directors of the startup company you need some mandatory documents which are classified in the 2 category – a) Directors Id & Address Proof – for the personal identification of the Directors you need PAN Card Copy + Adhar Card or Voter id or passport anyone + Bank Statement or any Utility Bills like the phone bill or elect bill copy. b) Company Registered office Address Proof – for the Registered office address proof, you need the electricity bill copy or rent agreement or sale deed with the No objection from the owner. Registered office can be the residential address or commercial. So its means in the starting if you have no office in Bangalore then you can register on your residential address. Note – sometimes few entrepreneurs for the company registration in Bangalore they are going with the co-working spaces. these days lot of the companies like Instaoffice , bhiveworkspace , Regus etc are giving co working space in bangalore for the startups so they can work together in a cool office on cheaper pricing. but the problem is when you choose the co working space just only for the company registration in Bangalore, you need their rent agreement copy + no objection certificate. there is no physical verification during the company registration but in the future when you deal in the products or want to apply for the Karnataka VAT | CST or TIN Number registration that time vat inspector will verify the location and may be create the problem on officer approval. even on the co-working space there are lot of the companies already using the same address as registered office. so either go with the residential registered office or take a small separate commercial space on the rent.
Step 3 : Digital signatures with USB Tokens of the Directors –
After the mandatory documents, you need always the digital signature for the Govt eforms filings. Digital signature is prepared in the Bangalore by some top rated govt authorized companies like Emudhra or sify etc & owned by the Infosys & TCS, which are providing the digital signature with the secure USB Tokens.
Step 4 : Selection of the Name of a Company with MCA and Trademark Search –
After the digital signature, you have to choose some 5-6 company names. These names are not trademarked or not registered by another company. For the checking the names you can use the MCA Website name search tools and Govt of India trademark search tools. here is the quick guide to searching the company name on MCA – a) Just go to MCA Website Company Name Search URL b) Insert your Company Name 2 words. For Ex – myonlineca technologies ( brand name + nature of business extension) c) click on submit and check whether its been registered in Bangalore or anywhere in india or not. here is the quick guide to searching the company name on Trademark website – a) Just go to Trademark Website Search URL b) Insert your brand name only as one word. for ex – myonlineca c) Insert the trademark class. classes is depend on the nature of the business. You can read this article to understand more about How to search the Company Name in India.
Step 5 : Preparation of rules of the Company policy –
After the selection of the name of the Company, you have to prepare the draft for the rules of the company policy. These are called MOA & AOA of the Company. In this agreement, all the director’s responsibilities & shares are the mentioned with the objective of the company. Here you can read about the MOA and AOA for Private Limited Company Registration in Bangalore.There is one more thing that in the case of Limited liability partnership you have to prepare the LLP Agreement instead of the MOA & AOA which is similar document for the LLP.
Step 6 : Incorporation Certification –
After the preparation of the rules of the company, The registrar of firms in Bangalore verify the documents & eforms and issued the final Incorporation of Certification where your CIN Number, Bangalore Registered office is mentioned with the company name. Here is the sample copy of haryana ROC company registration certificate which is similar to the the Company Registration in Bangalore –
Step 7 : Apply for the Permanent account number & Tax deduction account number –
After the incorporation certification, you have to apply for the new PAN Number & TAN Number on the Company name. PAN & TAN is handled by the separate department in the Bangalore that is income tax CPC department. So you have to apply through the NSDL offline or online.
Step 8 : Selection of proper banking. –
After the PAN & TAN, the most important step is for the bank account opening. There are a lot of the private and government banks in the Bangalore but before the choose any bank you have to always aware about the each bank proposal and their minimum balance limits & penalty charges etc. In most of the private banks in Bangalore, they have a minimum balance limit nearby 25000/- like in ICICI or Axis etc or in the govt banks nearby 10000.
Step 9 : Apply for the applicable tax registration –
After the application of PAN & TAN, you have to require the proper tax registration. Tax registration depends on upon your nature of the business. If you are dealing in the service based business then it’s required the service tax registration after the cross 9 lakh rupees turnover or if you are dealing with the product based business then it’s required the VAT after cross 5 lakh rupees turnover. So tax registration is required at the later stage after company registration in Bangalore.
Step 10 : Maintenance & filings to the ROC Bangalore –
After the register your company you have to maintain your accounts & bookkeeping. You have to file the proper tax returns to the income tax department CPC Bangalore on the company name. You have also submitted the ROC Returns with the balance sheet & profit and loss account to Registrar of Companies Bangalore once in a year.
Company Registration in Bangalore Cost :
if we talk about the Company Registration in Bangalore cost then its all depend on the legal entity which we discuss in short above in step 2. pvt ltd company registration cost nearby 15000 rupees with the government expense | llp company registration cost nearby 9000 rupees | one person company registration cost nearby 13000 rupees. if you register a simple sole proprietorship firm then its depend on the nature of the business. a normal service based sole proprietorship firm cost nearby 3000-5000 rupees or product based cost nearby 7000 rupees with the tax registration.
Best Way to find Company Registration Consultants in Bangalore :
So Hope now you get the idea to register a new a company in Bangalore or Karnataka state. New Company Registration in Bangalore online but you can’t do it yourself because it’s required the digital signature of the chartered accountant | company secretary | lawyers for the authentication on your documents. you have following ways : a) For the local company registration consultants in Bangalore find on the google map listing which is best way to connect with some genuine service provider on the reviews. b) For the online company registration service provider, there are some reliable companies like myonlineca which can helps you to register your company. you can check these online companies reviews on their facebook page or quora page.