PRIVATE LIMITED COMPANY REGISTRATION IN INDIA

UNDERSTANDING THE CONCEPT OF A PRIVATE LIMITED COMPANY

As the name suggests a Private Limited Company is “privately” owned by at least two owners and directors whose liability is restricted to the number of shares owned by them. The company registered as Pvt Ltd is considered a separate unit from that of its owners. It is the most convenient way of establishing a new business. Characteristics like being able to raise funds through investors, operating after the owner’s death, and lesser tax liabilities make it the most preferred choice among business owners who wish to sustain for a longer period in the competitive market. With the registration services of Mibook, one can get the registration of the company smoothly and conveniently.

pvt ltd company registration in bangalore

A Registered Private Limited Company is a private company held by individuals or groups of persons to run their business smoothly by incorporating the company under the laws of The Companies Act, 2013 in India. Most entrepreneurs opt for this entity by considering the scope of growth and expansion as compared to LLP Registration in Bangalore and Partnership Firm Registration in Bangalore. A registered private limited company in India secures all the advantages of a partnership firm as well as a limited liability firm.

A Private Limited Company is a blend of the corporate forms of business structure and partnership. The company registered as Pvt Ltd has a reputation in the corporate world due to its firmness, quality of trust, name, and fame by which it can get funds from financial institutions, investors, venture capitalists, etc. quite easily. Mibook renders all the assistance needed while registering a firm as Pvt. Ltd. company anywhere in India.


Mibook India Consulting can help you with business registration, incorporation, trademark registration bangalore, GST registration in bangalore, accounting and bookkeeping services in bangalore. Contact us for details.

Eligibility Criteria For Private Limited Company Registration In Bangalore

Minimum 2 directors, Maximum 15

Minimum 2 and Maximum 200 shareholders

Director and Shareholders may or may not be the same persons

One Director must be a Resident Indian

The minimum capital requirement is NIL

DIN of the directors

Digital Signature of subscribers and directors

No of Shareholders No of Directors Authorized Capital Paid-up capital
2 individuals 2 Individuals (Can be 3) Rs. 1 lakh minimum Rs. 10,000

Minimum Requirements For PVT LTD Company Registration In Bangalore.

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A minimum of 2 Shareholders must be present, while the registration process goes on.

At least two directors must be assigned as it is a compulsory requirement.

1 Lac Share Capital is the predetermined minimum amount.

DPIN for all the directors must be present.

At least one designated partner should be an Indian Resident

Note: A “Pvt ltd registration Bangalore government fees” need to be paid by you during the registration process.

DOCUMENTS TO BE SUBMITTED TO MIBOOK FOR PVT LTD COMPANY REGISTRATION IN BANGALORE

PAN Card:

PAN Card copy of the proposed Directors of the Company will be required for Company Registration.

Address Proof:

The address proof submitted must have the name of the Director as mentioned in the PAN Card and the most current address of the Director.

Residential Proof:

The residential proof must also contain the name of the Director as mentioned in the PAN Card and must not be older than two months.

Registered Office Proof:

In addition to providing identity, address, and residential address for the Directors, proof must be provided to validate the registered office address of the Company.

pvt ltd registration bangalore

WHY CHOOSE PVT LTD REGISTRATION IN BANGALORE

Limited Liability

The liability of shareholders is limited to the amount of capital invested by them in private limited company registration in Bangalore. Therefore, the lenders and creditors cannot make a claim over the personal assets of shareholders in case of losses. Mibook guides the shareholders to handle such affairs of the company.

Separate Legal Entity

A Registered Private Limited Company has a legal identity that is considered distinct from its shareholders and directors. As such, it can own assets and liabilities in its own name. Also, a company may get assistance from third parties in its own name. The Mibook helps companies to avail the benefits of a separate legal entity.

Investor friendly

A Registered Private Limited Company is the most preferred type of business entity from an investor's point of view. A Private Limited Company can’t raise funds from the general public, but it can raise funds from private equity or from private venture capitalists, angel investors, ESOP, etc. It is better to take the advice from the experts of Mibook in such matters.

REASONS TO PVT LTD REGISTRATION BANGALORE THROUGH MIBOOK

Registered Pvt ltd companies preferred by banks, VCs & investors.

It is Convenient to allocate and redistribute shares to other directors/ people who have invested capital.

Acts as a separate legal entity that limits your liability.

Offers the flexibility of a partnership firm and the advantages of a Public Ltd Company.

Easy to register, manage & run.

Registered Pvt Ltd company can be dissolved very smoothly.

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PROCESS AT MIBOOK FOR PVT LTD REGISTRATION IN BANGALORE

Day 1 - 2

Review of documents and information provided

Application for Digital Signature Certificate

Day 3 - 6

Checking Name availability

Drafting of MOA, AOA & other required documents

Day 7 - 9

Name reservation application under SPICe

Filing company registration application

DIN allotment application

Application for PAN and TAN of company

Day 10 - 12

Government processing time

ADVANTAGES OF PRIVATE LIMITED COMPANY REGISTRATION IN BANGALORE

Limited Liability of Shareholders

When a business faces unforeseen financial crises and is on the verge of closure, the shareholders of the registered private limited company do not face the risk of losing their assets. Only the amount that is invested while starting the business is lost and the director's assets are safe. In Pvt Ltd company shareholders tend to have limited liability. Mibook provides you with all professional support in regard to understanding and acting accordingly in such unforeseen circumstances.

International expansion

If the business is developing products on a global scale and aiming for expansion of operations across the world, then it is important to get the investments and the form of collaborations with foreign establishments. One of the advantages of the registered private limited companies in India is that 100% of tasks are handled through the automatic route, which means there is no requirement of any government approval for foreign companies to make investments in India. The partnerships and LLPs need acceptance from the government but with the assistance of Mibook such affairs of any type of company can be carried out smoothly.

Access to funding

The Pvt ltd company registration in Bangalore allows companies to easily accommodate the equity funding as there is a difference between the shareholders and directors. Venture capitalists and private equity funds are likely to invest in any other structure.

GST Registration

As Gst registration in Bangalore for private limited companies is regulated by the Companies Act 2013, they are required to follow all the stringent procedures, disclose norms, and also comply with the various legal requirements, they are more organised in creating value. A Pvt Ltd registration in Bangalore offers many perks over other types of entities, it is always best to get the registration done by the experts of Mibook to avoid any discrepancies.

The benefit of “Perpetual Succession”

The most significant benefit of Pvt ltd registration Bangalore is that its existence will be continued until it is legally dissolved. The fact that the registered Pvt ltd company has a separate legal entity makes it unaffected in case of the death or departure of any member. Even though there may be a change in existence, it will continue its existence. Once the process of registration through Mibook is completed a renewed “Private limited company registration certificate” is provided.

ROC FILINGS FOR PRIVATE COMPANIES

Every firm registered as a Pvt Ltd company needs to file ROC as this compliance is made mandatory by the companies act. No matter what the total turnover or capital amount is, the ROC filings for private companies are mandated.

Each type of company registered in India whether it is a private limited company, one person company, limited company, or section 8 company needs to adhere to the annual compliances like annual returns and income tax returns each year.

The most common step to starting a business is getting a company registered as Pvt ltd. There is much compliance that needs to be done once the business is registered or incorporated such as ROC filings for private companies.

On a daily basis, there are immense operational tasks that need to be performed by companies, in such cases complying with difficult corporate laws such as ROC filings for private companies can be burdensome for an entrepreneur. The Mibook offers you professional support for resolving these issues and making sure that timely fulfilment of these compliances waives the penalties or fines.

At Mibook we assign a dedicated Compliance Manager who will look into all compliance matters of your Pvt Ltd company.

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Comparision

roc filings for private companies

Learn more according to needs

Frequently Asked Questions

Yes, no matter the size of your firm you can definitely convert it into a Pvt Ltd company once you meet the legal requirements for the same. In fact, if you are willing to make your small firm legally recognizable then registering it as Pvt Ltd co. would be the best option because small businesses seek funds and investments in order to run business smoothly and to raise funds through debt or equity is quite effortless for Pvt ltd companies.

One must observe the following prerequisites for registering Pvt Ltd Co.
-There must be at least 2 shareholders present during the registration process.
-At least 2 directors must be assigned during the registration process.
-1 Lac Share Capital is the predetermined minimum amount.
-DPIN for all the directors must be present.
-At least one designated partner should be an Indian Resident

Also a “Private limited company registration government fees” will be charged during the registration process.

Yes, irrespective of the type of Pvt Ltd Company an audit is mandatory for all Pvt ltd companies every financial year. In case your company is incorporated recently then within 30 days of incorporation an Auditor must be appointed who will be the first auditor at your startup Pvt ltd co.
Also if you are not able to appoint an auditor within the set timeline then it is your responsibility to communicate the same with shareholders and then they are held responsible for the appointment of the auditor within 90 days of Incorporation.

Every company name ends with their type of company such as ‘Pvt Ltd’ or ‘Ltd’ or ‘One person co.’
These suffixes are mandatory to mention in the company name because this enables others to understand which type of company you have and how it is operated. A ‘Pvt Ltd’ suffix in the company name indicates that the shares of the company are privately held and not available for the public. Also, this informs stakeholders that such companies cannot invite persons exceeding 200 for the subscription of shares of a security of the company. So whoever is planning to start dealing with your business would know about the foundation of your company beforehand.

Yes, in India Private ltd companies are required to publish their annual reports which must contain the Board of Directors Report, The Auditors Report, the financials including the Balance Sheet, Profit n Loss, Cash Flow (optional for a few), Notes to Accounts, Significant accounting policies.
The annual report is a brief detail about the corporation's organizational structure and under the Ministry of Corporate Affairs, it is mandatory for all companies to publish an annual report every year.
Also, a published annual report serves as a summary of the company’s financial information and those willing to understand the company’s financial affairs can easily check the breakdown of the company data into charts and graphs.

As per Section 149(1), a Private Ltd company must have at least 2 directors and a maximum of 15 directors are allowed for Board. Among the 15 directors, one must be an Indian resident.
In circumstances where there is a need for more than 15 directors then a company can hire the same after passing a special resolution in a general meeting and there is no need to take approval from the Central Government.
Remember that a period of one year has been provided to enable the companies to fulfil this requirement.

The answer to this is very simple, once your company is registered under Registrar of Company as per India companies act 2013 your company automatically becomes lawful to add the suffix ‘Pvt Ltd’ with its company name.
In fact, a company becomes liable to add ‘Pvt Ltd after successful registration as Pvt ltd company. The registration process must be completed properly and adequately.

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