Private limited company registration in Bangalore

Private limited company is the one which can be created with two members and it can be extended up to 100 members. The minimum requirement of directors is two and maximum number of directors can be extended up to fifteen. The traits followed in this form of business are similar with the partnership firm. There are about 200 shareholders can be accepted in a private limited company.

Advantages of private limited company:

Separate legal entity: It can own the property due to this feature. The company can and sued under its own name.

Limited financial liability: Shareholders possess the property of limited liabilities as per the shares. This important feature protects the personal asset and the income of the person if in a situation to face the financial crisis in a company.

Raising the funds is much easier: Maximum of 2oo shareholders and members are allowed, this makes it easier to raise the capital funds when compare with the other form of companies. Scope of expansion is also greater when you incorporate a private limited company. Debts taken from the financial ventures and other banks are quite easy.

Longevity of the company: Private limited company cannot be affected by the death or inability of the owner which does not hinder the proceedings of the company.

Documents required for private limited company registration:

Proof of identity - directors
Indian Nationals:
  • Need to submit a copy of the PAN card. It is mandatory to submit the PAN during the incorporation process. The MCA will use the name as written in the PAN card for everything which is related to the company.
  • Another important document is address proof; the name present in this proof should be similar to the PAN card. The documents such as (voter identity card/ration card/passport/driving license/electricity bill/telephone bill/Aadhar card) can be produced.
Foreign nationals:
  • It is an obvious requirement to produce passport that must be notarized. If it is in a different language, it should be translated to English.
  • The address proof should also be notarised. It must carry the director’s name as mentioned in the passport and the current address of the director. Documents which are acceptable for address proof are: Residence card, Bank statement, driving license, and Government issued form of identity which contains an address.
Proof of identity -Shareholders
All shareholders have to submit the identity and address proofs. If one of the shareholders is a corporate entity then they need to attach the incorporation document along with the resolution passed by the corporate in order to subscribe the shares.
Proof of registered office address
  • Registered office address of the company should be valid. The proofs must be submitted within 30 days of incorporation or during the registration process.
  • Copy of the rental agreement.
  • Utility bills such as (telephone bill/electricity bill/water bill) can be produced as a proof of evidence which should depict the address of the premise.
NOC from landlord if the office is a rented one or otherwise can produce an ownership document.