PRIVATE LIMITED COMPANY REGISTRATION IN INDIA

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UNDERSTANDING THE CONCEPT OF A PRIVATE LIMITED COMPANY

A Private Limited Company, as the name implies, is privately owned by a minimum of two owners and directors, each of whom has limited liability to the value of their share in the company. There is a legal distinction between the private limited company in bangalore and its owners. In terms of starting a company, there is no easier option than this one. Investor funding, continued business operations after the founder's retirement, and reduced tax liability are just a few of the reasons why this business structure is so popular among entrepreneurs who want to keep their companies going strong for the long haul. Companies can be registered quickly, easily, and painlessly with Mibook registration services.

pvt ltd company registration in bangalore

To ensure the smooth operation of their business, individuals or groups of individuals might form a private limited company registration in bangalore in accordance with India's Companies Act, 2013. Most business owners choose this structure because it offers more room for development and expansion than either LLP Registration in Bangalore or company registration in bangalore. In India, a private limited company in bangalore that has gone through the proper registration procedures enjoys the same legal protections as a limited liability company as well as those of a partnership.

The corporate forms of business organisation and the partnership forms come together in a Private Limited Company in Bangalore. Because of its credibility and standing in the business community, pvt ltd company has no trouble raising financing from banks, investors, VC firms and other sources. Mibook provides comprehensive support for establishing a private limited company in Bangalore.

If you need assistance registering a business in India or incorporating an existing one, trademark registration bangalore, GST registration in bangalore, accounting and bookkeeping services in bangalore.

Contact Mibook, India Consulting. Please get in touch if you require further information.

Eligibility Criterion For Private Limited Company Registration In Bangalore

Minimum of 2 and Maximum of 15 Board Members

With a bare minimum of 2 and a maximum of 200 Shareholders

Individuals can serve in both roles of director and shareholder

One of the Board Members must be a Native American who resides in the country.

In accordance with the Directors' Instructions, the Minimum Capital Requirement is nil

Digitally Signed Agreements of Customers and Board Of 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

Prerequisites for a Private Limited RegistrationCompany in India

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Two shareholders are required to be present during the registration process.

It is required by law that at least two directors be appointed.

The bare minimum for share capital is set at 1 lakh

Each board member must have a valid DPIN.

An Indian Citizen or Permanent Resident must be one of the chosen partners.

Note: You should be aware that there are "Pvt ltd registration Bangalore government fees" that must be paid.

MANDATORY FILED DOCUMENTS REQUIRED AT MIBOOK FOR PVT LTD COMPANY REGISTRATION IN BANGALORE

PAN Card:

Company Registration will necessitate a copy of each prospective director's Permanent Account Number (PAN) card.

Address Proof:

The Director's current residence and full legal name as they appear on the PAN card must match exactly on the supplied address evidence.

Residential Proof:

This document must be no more than two months old and must include the Director's name exactly as it appears on the PAN Card.

Registered Office Proof:

The Company's registered office address must be validated in addition to the Directors' identities, addresses, and home addresses.

pvt ltd registration bangalore

WHY GO WITH 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.

FACTORS THAT MAKE MIBOOK THE BEST CHOICE FOR PVT LTD REGISTRATION IN BANGALORE

Banks, venture capital firms, and investors are more likely to work with officially incorporated pvt ltd company registration

Distribution of shares to new directors or investors is a simple process.

Functions as a shield against legal trouble, keeping your personal assets safe.

Gives you the freedom of a partnership with the benefits of a public limited company.

Incredibly simple to set up, administer, and operate.

It is easy to dissolve a Pvt. Ltd. firm once it has been registered.

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PROCEDURE AT MIBOOK FOR COMPANY REGISTRATION IN BANGALORE

Day 1 - 2

Data Screening of documents and information provided

Application for Digital Signature Certificate

Day 3 - 6

Validating Name availability

Formation of Memorandums of Understanding and Articles of Agreement

Day 7 - 9

Submitting a Request to Reserve a Name Using SPICe

Applying for a Taxpayer Identification Number (TIN)

Corporation Taxpayer Identification Number and Employer Identification Number Application

Day 10 - 12

Administrative processing time

BENEFITS OF PRIVATE LIMITED COMPANY REGISTRATION IN BANGALORE

Shareholders' Liability Is Generally Limited

Shareholders of a registered private limited company are protected against liquidation in the event of a company's insolvency due to unforeseen financial issues. Only the initial investment is at risk, while the rest of the director's wealth is unaffected. Pvt Ltd companies provide limited liability protection for its shareholders. Mibook offers expert guidance to help you make sense of and respond appropriately to situations like these.

Expansion on a Global Level

Obtaining investments and forming collaborations with foreign establishments is crucial if the company is generating products for a global market and planning to expand operations worldwide. There is no need for foreign companies to obtain authorisation from the Indian government in order to invest in India if they are structured as Indian private limited companies, as all tasks are completed through the automated way. Although government approval is required for partnerships and LLPs, Mibook makes it possible for any business structure to manage its administrative tasks with ease.

Optimising for Funding Accessibility

Since there is a distinction between shareholders and directors, businesses that register as Pvt. Ltd. in Bangalore have an easier time accepting equity capital. There is a high probability that private equity and venture capital firms will put money into a different organisational framework.

Enrollment for GST

As the Companies Act 2013 governs private limited company registration in india for Gst these businesses are better organised in their value creation as they must adhere to all the severe procedures, reveal standards, and deal with the numerous legal criteria. With so many advantages, it's wise to have Mibook experts handle your Pvt Ltd company registration.

Gains from "Perpetual Succession"

The main advantage of Pvt ltd registration in Bangalore is that the company will remain in existence until it is formally disbanded. Since a registered Pvt ltd company is its own distinct legal entity, it will continue to exist even if one of its members dies or leaves the company. In spite of potential disruptions, it will persist in some form or another. A refreshed "Private limited business registration certificate" is issued upon successful completion of registration via Mibook.

ROC FILINGS FOR PRIVATE COMPANIES

The Companies Act requires every Pvt Ltd to submit ROC annually. In the private sector, ROC reports are required regardless of the size of the company's revenue or capital.

Annual compliances, such as annual returns and income tax returns, must be met by all companies registered in India, regardless of whether they are private limited companies, one person companies, limited companies, or section 8 companies.

Getting a pvt ltd company registration is the most typical first step in establishing a new business. There is a great deal of paperwork, such as ROC filings for private firms, that must be completed when a corporation is formally established or incorporated.

Compliance with complex corporate rules, such as ROC filings for private companies, can be onerous for an entrepreneur, especially given the magnitude of the daily operating duties that need to be completed by enterprises. The Mibook provides expert assistance in resolving such problems and ensuring that penalties and fines are avoided by punctual adherence to such compliances.

Get things rolling by signing up with a top-tier GST registering app.

Mibook will provide your Pvt Ltd company with a Compliance Manager who will handle all compliance-related issues. Contact Us Now!

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Comparision

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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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