Requirements for Company registration in Bangalore

Requirements and process of registration depends on the type of company. These are minimum shareholders and directors, etc for different types of Companies. Before starting the process, keep in mind the pre-requisites for company registration in Bangalore as given below:

1. Shareholders:

To register a Private Company, there should be a minimum of two shareholders and for Public Company it is seven. OPC should have only 1 shareholder. The first shareholder(s) should execute the Memorandum and Articles of Association for registering the Company.

2. Directors:

A Private Company should have a minimum of two directors and a Public Company should have minimum three directors and an OPC should have minimum 1 Director. Only individuals can be designated as directors of a company. Where a new company is registered by two or more existing companies or LLPs, the promoter company or LLP can nominate individuals as directors of the new company. An individual should hold a valid DIN to become a director of a company.

3. Digital Signature Certificate

All the initial shareholders should have valid Digital Signature Certificate issued by a Certifying Authority (CA) under Information Technology Act 2000.

4. Share Capital of Company

a. Authorised Capital

Authorised Capital or Registered Capital of a company is the upper limit of capital that a company can issue shares and collect money from shareholders. Company registration in Bangalore fee is payable to ROC and will be calculated on the basis of Authorised Capital. There is no requirement as to minimum Authorised Capital for registration of Company.

b. Subscribed Capital

Subscribed Capital refers to the amount of capital agreed to be brought in by the shareholders to the company. There is no requirement as to minimum Paid-up Capital for registration of Company. However, there must be nominal amount to be subscribed by the first promoters of company. (1 share of Re.1.00 or 1 share of Rs.10.00 etc)

To commence the business of a company after incorporation, a declaration has to be filed with the Registrar of Companies that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him. This declaration has to be filed by the company within a period of 180 days of the date of incorporation of the company in Form No.INC-20A.

c. Paid up Capital

Paid up capital of a company refers to the amount of capital actually brought in by the shareholders to the company.

5. Company Name

Company name selection is important for speedy registration of a company.

Company Name approval and allotment process in Bangalore is administered by the Ministry of Corporate Affairs (MCA) as per the Company Name Availability Guidelines issued under Companies Act 2013.

Promoters have to Select a Company Name as per Company Name Availability Guidelines prescribed by the Ministry of Corporate Affairs.

6. Registered Office Address

Registered Office refers to the official correspondence address of a company or its principal place of business. The address of the Registered Office will be used for all official communications of the company. At the time of registration of a new Company, there are Two options to record the Registered Office Address:

A company must have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it. Within 30 days of incorporation the company shall furnish a verification of its registered office to the Registrar of Companies in Form 22.

There are 2 option to the promoters to choose the Registered office address

a. Temporary Address:

Use an address as Temporary Registered Office for Registration and to file the Permanent Address documents within 30 days of Company registration in Bangalore.

b. Permanent Address:

Use a Permanent Address for the Company at the time of Registration itself and in this case, there is no filing required after the Registration of the Company.

In both the cases, the address refereed on the registration forms shall be recorded in the Certificate of Registration. Any change in address after the Company registration in Bangalore will not be reflected on the Certificate of Incorporation.