Private limited registration

Private Limited Registration In Bangalore:

In simple sense, literary meaning of the word ‘Company’ is an association of persons formed for common object.

One of the most popular registering a business entity is a Private Limited Company. Compared with a Proprietorship or Partnership, Private Limited Company registration has many advantages. The Act that governs a Private Limited Company in the Indian Companies Act, 2013. This type of entity is most suitable for small-scale startups. Being the IT hub of India, Bangalore has a tremendous opportunity for startups.

Le Intellgensia offering services to register a private limited Company and provides fastest service to people who join together to achieve a common business goal.

Why Register as a Private Limited Company?

• A Private Limited Company is considered a juristic person and a separate legal entity separate from its members.
• The Liability of the members of the Limited Company is limited to the shares that they invest.
• The Private Limited company has perpetual succession, which is continued or uninterrupted existence until legally dissolved.  
• The Private Limited company is an independent legal entity that can sue and also be sued in its own name.

Requirements for forming a Private Limited Registration in Bangalore

1. A minimum of two adult persons are required to act as Directors of the company.
2. A private limited company must have a minimum of 2 Directors and can have a maximum of 15 directors.
3. Two persons are also required to act as shareholder of a company. The shareholders can be natural persons or an artificial legal entity.

Advantages

1. A private company is easy to form than a public company. Only two members are sufficient to form a private company.

2. It can start its business immediately after incorporation.

3. It may pay remuneration to directors and managerial personnel or appoint any one to the office of profits without any restrictions.

4. As no outsiders are its shareholders it is not required to hold a statutory meeting or file a statutory report.

5. It may give loan to directors without obtaining consent or approval of the Central Government.

6. There is a greater flexibility in regard to the management and conduct of the business.

7. The control and management is generally in the hands of capital owners.

Steps to form a Private Limited Company

• Procure Digital Signature Certificate
• Obtain Director Identification Number
• Reservation of Name
• Certificate of Incorporation

Know the process of private limited company registration in detail.

Documents Required

The company’s proposed directors would have to submit the following

Documents:

1. Id Proof – PAN CARD
2. ADD Proof – Passport / Drivers License / Election ID / Ration Card / Aadhar ID
3. Proof of Residence – Bank Statement / Electricity Bill / Phone Bill. This document must be less than 2 months old

Registered Office Proof

• The registered document of the title of the premises of the registered office in the name of the company; OR

• The notarized copy of lease / rent agreement in the name of the company along with a copy of rent paid receipt not older than one month;
• The authorization (NOC) from the Landlord to use the premises by the company as its registered office.
• Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months.

How to Choose a Name for Private Limited Company

•  The name should be easy to spell and remember.
• The name shall be able to provide a distinct identity to the company.
• It should be short & simple.
• The name should not contain any word as opposed to public policy or prohibited.
• It should not infringe any Trademark registered nor shall be similar or identical to any company/ LLP registered.