Business Setup Services In Bangalore
Do you really want to start a business in India? Ram and Co is your Lean Start – up Assistant, with expertise incorporating over 400 firms. Show us your idea, and we will help you launch and expand your business! Our Lean Startup Ecosystem provides you with a quick and customised business solution, We provide complete business Setup services In India.
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Private Limited Company
Because of its stability and availability of limited liability protection, the Private Limited Company is one of the most stable and widely used company structures in India. Company registration in India is administered by Ministry of Corporate Affairs (MCA). A minimum of two shareholders and two directors shall be present, with a maximum of 200 stockholders.
The new business registration process is done online, so each Director must have a Director Identification Number (DIN), and shareholders must obtain a Digital Signature to register. The incorporation procedure is finished digitally and needs 10-15 working days from date you submit your complete documentation to all of us, according to the availability of the requested name.
How to Register a Private Limited Company?
You can effortlessly start your Private Ltd company with the assistance of specialists at Ram & Co. There must be shareholders and directors in a Private Limited Company. This business form is appropriate for entrepreneurs that require outside capital.
Requirements for Pvt Ltd Company Online registration in Bangalore
- A minimum of 2 shareholders and 2 directors is required to form a Private Limited Company.
- At the moment of incorporation, a maximum of three directors are permitted.
- A Digital Signature Certificate is required for each director (DSC).
- Foreign nationals and non-resident Indians (NRIs) can also serve as directors.
- A person can be both a shareholder and a director.
Minimum Paid-up capital and Authorized capital requirement
- A Private Limited Company’s minimum paid-up capital is Rs. 1 lakh.
- The highest amount of shares a corporation can offer to its shareholders is referred to as authorised capital. It’s better if the permitted capital is specified in the MOA and AOA at the company’s formation.
How to name your new Private Limited Company?
Naming your new firm may be both exhilarating and difficult. But, while choosing a name for your new firm, it is essential to comply to several naming norms issued by Registrar of Companies (ROC). Comply with the rules and your company name will be registered quickly.
Preferred Format accepted by the MCA
- Unique Component + Descriptive Name + Private Limited.
Unique Component
For example, Astra Webineers is a distinct component of Astra Webineers Private Limited. Following the creation of a name, you must confirm no other company name with a similar name was registered. Think inventive while looking for your one-of-a-kind component.
Acronyms, synonyms, and general words are not permitted in the case of unique components. Titles such as Abc and XYZ will be easily rejected.
Descriptive Name
According to the preceding example, Astra Webineers falls within the consulting category. The descriptive name is determined by the nature of the business.
Check the availability of the company name
The ROC must approve your company name since it must be unique. Look for a unique name for your business.
Limited Liability Partnership
Because of the flexibility provided by the Limited Liability Partnership Act, LLPs have become one of the most popular legal structures among professionals and service organisations. When compared to a private limited company, there is much more flexibility in terms of ownership and management structure, as well as fewer compliances. A minimum of 2 Authorized Partners are required for every LLP, and they must obtain a Director Identification Number and a Digital Signature before the LLP may be registered. LLP registration typically takes longer than that of a private limited company.
Benefits Of Limited Liability Partnership
LLP Registration
Individual partners' personal culpability for omissions, errors, negligence, or incompetence is limited to their cash/kind contributions.
Reasonable Formation Cost
LLP registration in Bangalore is less expensive than forming a private or public business.
Relaxed Statutory Compliances
Entrepreneurs who form LLPs frequently take advantage of relaxed statutory compliances.
Relaxed Auditing Norms
Limited Liability Partnerships are exempt from auditing their books of account if their yearly turnover is less than INR 40 lakhs or their contribution is less than INR 25 lakh.
No Minimum Capital Contribution Norms
There is no minimum capital investment required for partners. There have been no limits to the number of partners. An LLP can have an unlimited number of partners.
Relaxed Government Regulations
Minimum compliances and government interventions are in place at LLP. As a result, it is a viable option for first-time entrepreneurs seeking a good business form.
Documents Required for LLP registration in Bangalore
Before you start the application process, you will need the required documentation:
- Proposed Designated Partners’ self-attested PAN card copy
- Proposed Designated Partners’ self-attested address proof (Passport or Driving Licence or Voters ID or Aadhar Card)
- Latest bank statement, phone bill, or gas bill that has been self-attested (Not older than 2 months)
- No Objection (NOC) from the person who owns the property listed above and address proof of the proposed Registered Office (electricity bill, landline, or gas bill, and it can be a residential property) (we will prepare)
- 2 passport-size pictures of the proposed Designated Partners LLP Incorporation:
One Person Company
One Person Company (OPC) is a new type of organisation created by the Companies Act of 2013, in which the entity can be formed with only one member. It has the same protection and duties as a Private Company, with the primary difference being that only one shareholder is required to incorporate the Company. Once the company reaches a particular level of turnover, the OPC must be changed into a Private Limited Company. Once the company has been in operation for a specified period of time, the promoter might choose to convert the company voluntarily. A Director Identification Number is required for OPC registration, and the subscriber must obtain a Digital Signature.
Benefits Of One Person Company
Limited Liability
Starting OPC firm provides the promoter full control over the company while limiting his/her liability.
Concentred Control
Control of the business rests with the director and shareholder who invariably would be the promoter.
Relaxed Statutory Compliances
OPC has fewer compliances and legal restrictions, compared to private limited company.
Perpetual Existence
OPC will survive if the founder is willing to nominate a successor by making him/her a nominee
Easy Finance Options
One Person Company reflects all the benefits of a Limited Company. One such benefit is that it’s flexible and facilitates better business management structure compared to Sole Proprietorship. Thus, banks and financial institutions prefer lending to OPC firms.
Minimal Restrictions for OPC registration
Compared to other forms of business incorporating a one-person company in India is attractive to small business owners due to minimal restrictions such as: * 1 Shareholder and 1 Director, the same individual can take these posts * Requires only 1 Nominee for the shareholder. * No Minimum Share Capital requirement.
Flexible Tax Regime
One Person Company can enter into the contract with anyone, lend or pay salary to its promoter and receive interest for payments made to its promoter. Thus, the promoter of the business can get tax benefits in both OPC and individual capacity by drawing remuneration and interest.
Documents Required for OPC registration in Bangalore
As Director, there must be at least one person.
- 1 Nominee is required.
- Copy of Director’s and Nominee’s PAN Cards
- Proof of Director and Nominee’s Identity (Passport/Driving License/Voters ID)
- Proof of Director and Nominee’s Residence (Bank Statement/Electricity Bill/Telephone Bill/Mobile Bill)
- NOC from the person who owns the property stated above (Electricity Bill/ Property Tax Receipt/Postpaid Mobile Bill, Gas Bill)
- Address proof of the proposed Registered Office (Electricity Bill/ Property Tax Receipt/Postpaid Mobile Bill, Gas Bill)
- 2 passport-sized photographs of the proposed Director and Nominee
Other information needed for OPC registration in Bangalore includes:
- The company’s main goal—the proposed actions of the company
- Names that have been suggested for your business.
Partnership Firm Registration
A General Partnership is a corporate structure wherein 2 or more persons manage and control a company in compliance with the Agreement Deed’s rules and objectives. This type of business registration is suitable for people who want to run their firm with a small budget and without a lot of legal wrangling.
Documents Required for Partnership Firm registration in Bangalore.
Before you may register your business, you’ll need the following documents:
- a copy of the proposed partners’ PAN card that has been self-attested
- Proposed partners’ self-attested address proof (Passport or Driving Licence or Voters ID or Aadhar Card)
- Proof of the proposed Registered Office’s address (electricity bill or property tax receipt and Rental Agreement and It can be a residential property)
- The owner of the above-mentioned property has given his or her consent (NOC) (we will prepare)
- 2 passport-size photographs of potential partners
- Capital and ownership type of a partnership
Proprietorship Firm Registration
A sole proprietorship is a single-person-owned and managed firm. All commercial transactions are conducted only in the name of the proprietor. There is no specific registration as a corporate entity, unlike other forms of business registration. The accountability of a sole proprietorship is limitless because it is nothing more than the man himself. You won’t have to worry about how to register a proprietorship in Bangalore because Ram and Co is here to help.
Documents Required for Sole Proprietorship Firm registration in Bangalore.
Before proceeding with proprietorship registration in India, you must have the following documents:
- a copy of the proprietor’s PAN card (self attested)
- a copy of the proprietor’s proof of address (self attested)
- Authorization letter allowing Ram and Co to represent you (we will prepare)
- Copy of the Proprietorship Charter that has been signed (we will prepare)
- A copy of the premises’ rental agreement.
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