- Ultimate Guide To -
Register a.k.a incorporate
Your Own Company in Bengaluru, India.
Hey there, future business owner! So, you’re ready to take the plunge and start your own company in Bengaluru? Great choice! This guide will walk you through the ins and outs of registering your company in this vibrant city.
Good to Know...
Registering a company involves navigating through various legal procedures and requirements. Familiarising yourself with these processes ensures a smooth journey towards establishing your business in Bengaluru.
- Choose a Business Structure
- Name Reservation
- Obtain Digital Signature Certificate (DSC)
- Â Apply for Director Identification Number (DIN)
- Draft Memorandum of Association (MOA) and Article of Association (AOA)
- Submission of Registration Application
- Payment of Fees
- Verification and Approval
- Receive Certificate of Incorporation
Proper registration is crucial for legitimising your business operations. It offers legal protection, enhances credibility, and opens doors to various benefits and opportunities.
- Legal Compliance
- Credibility
- Limited Liability Protection
- Access to Funding
- Brand Protection
- Business Continuity
- Tax Benefits
- Ability to Enter Contracts
- Employee Recruitment
- Global Expansion
Bengaluru, often referred to as the Silicon Valley of India, boasts a thriving ecosystem for startups and businesses. Registering your company here provides access to a robust network, resources, and potential investors.
- Access to Talent Pool
- Thriving Ecosystem
- Strategic Location
- Government Support
- Infrastructure and Connectivity
- Investor Interest
- Quality of Life
Understanding the eligibility criteria is essential before initiating the registration process. Certain requirements must be met to ensure compliance with regulations.
- Type of Business Entity
- Minimum Number of Directors/Partners
- Residency Status
- Minimum Capital Requirement
- Unique Name
- Registered Office Address
- Age and Capacity
- No Disqualification
Various parties play crucial roles throughout the registration process, including directors, shareholders, and legal advisors. Understanding their responsibilities streamlines the process.
- Promoters/Founders
- Directors/Partners
- Shareholders/Partners
- Registrar of Companies (ROC)
- Ministry of Corporate Affairs (MCA)
- Chartered Accountants/Company Secretaries/Legal Advisors
- Bankers
- Government Authorities
Choosing the right time to register your company can impact its success. The below listed factors, and personal readiness should be taken into account.
- Market Conditions
- Industry Trends
- Customer Demand
- Regulatory Environment
- Financial Preparedness
- Business Readiness
- Human Resources
- Strategic Objectives
- Risk Assessment
Adhering to deadlines is vital to avoid unnecessary delays or penalties. Being aware of timelines ensures a timely completion of the registration process.
- Name Reservation: 20-60 days
- Document Preparation: days to weeks
- Obtaining DSC and DIN: few days
- Submission of Registration Application: few days to a couple of weeks
- Verification and Approval: few days to a couple of weeks
- Receiving Certificate of Incorporation: 1-2 weeks.
- Post-Incorporation Formalities: within limited timeframe after post company registration.
Bengaluru has specific requirements and regulations for registering a company. Understanding these location-specific nuances is essential for a seamless registration experience.
- Registered Office Address
- Proof of Registered Office Address
- Commercial Premises
- No Objection Certificate (NOC)
- Accessibility
- Local Approvals
- Tax Jurisdiction
- Signboard
Knowing the addresses of relevant government offices facilitates easy communication and submission of required documents during the registration process.
Knowing the addresses of relevant government offices facilitates easy communication and submission of required documents during the registration process.
Registrar of Companies (ROC):
- Contact: The Registrar of Companies, Karnataka
- Address: Registrar of Companies, Karnataka, 2nd Floor, E- Wing, Kendriya Sadana, Koramangala Industrial Layout, Bengaluru – 560095
- Phone: +91-80-25533209
Ministry of Corporate Affairs (MCA):
- Contact: Regional Director, Southern Region
- Address: Ministry of Corporate Affairs, Southern Regional Office, ‘ROC Bhavan’, First Floor, No. 11, P.Kalinga Rao Road, Shanthinagar, Bengaluru – 560027
- Phone: +91-80-22241710
Bangalore Municipal Corporation (BBMP):
- Contact: Commissioner, BBMP
- Address: Bruhat Bengaluru Mahanagara Palike (BBMP) Head Office, N.R. Square, Bangalore – 560002
- Phone: +91-80-22660000
Income Tax Department:
- Contact: Income Tax Officer
- Address: Income Tax Office, Central Revenue Building, Queen’s Road, Bengaluru – 560001
- Phone: +91-80-22868044
Goods and Services Tax (GST) Department:
- Contact: Assistant Commissioner of Central Tax (GST)
- Address: Office of the Assistant Commissioner of Central Tax, GST Bhavan, Race Course Road, Bangalore – 560001
- Phone: +91-80-22865217
Labour Department:
- Contact: Labour Commissioner
- Address: Office of the Labour Commissioner, ‘Shramajeevi Mandira’, Dr. B.R. Ambedkar Veedhi, Bangalore – 560001
- Phone: +91-80-22374043
Business Entity Selection
We help entrepreneurs choose the right legal structure for their business, such as sole proprietorship, partnership, private limited, one person company (OPC) or limited liability (LLC) based on their business goals and needs in Bengaluru, India.
Step-by-Step Guide to Register a Company in Bengaluru
Decide on the type of company structure that best suits your business goals.
Reserve a unique name for your company to avoid conflicts and ensure brand identity.
Acquire DSC for directors and shareholders to digitally sign documents.
Obtain DIN for directors to legally operate as company directors.
Prepare MOA & AOA outlining company objectives, rules, and regulations.
File the registration application along with necessary documents to the Registrar of Companies (ROC).
Pay the required registration fees and stamp duty as per the company’s capital and type.
Await verification and approval from the ROC, which may involve additional queries or documents.
Upon approval, receive the Certificate of Incorporation, officially recognizing your company’s existence.
Fulfil post-incorporation formalities, such as obtaining PAN, TAN, and opening a bank account.
Documentation:
- Identity and address proofs of directors and shareholders
- Memorandum and Articles of Association
- Proof of registered office address
- Digital Signature Certificate
- Director Identification Number
Procedures:
- Online application submission through the Ministry of Corporate Affairs (MCA) portal
- Payment of requisite fees and stamp duty
- Verification and approval by the Registrar of Companies (ROC)
Frequently Asked Questions
Below is a list of questions we are frequently asked when one wishes to register a compnay in Bengaluru, India.
What are the different types of business entities I can incorporate in India?
In India, you can incorporate various business entities such as sole proprietorship, partnership firm, limited liability partnership (LLP), private limited company, and public limited company.
What are the legal requirements for incorporating a business in India?
Legal requirements include obtaining Digital Signature Certificates (DSC) for directors, obtaining Director Identification Numbers (DIN), selecting a unique company name, preparing and filing incorporation documents with the Registrar of Companies (RoC), and paying the prescribed fees.
What are the advantages and disadvantages of different business structures like sole proprietorship, partnership, LLP, and private limited company?
Each business structure has its own set of advantages and disadvantages. For example, a sole proprietorship offers simplicity but unlimited liability, while a private limited company offers limited liability but requires more compliance.
How much time does it take to incorporate a business in India?
The time taken to incorporate a business in India typically ranges from 15 to 30 days, depending on factors such as the type of business entity, completeness of documentation, and processing time at the RoC.
What are the minimum capital requirements for incorporating a company in India?
There are no minimum capital requirements for incorporating a private limited company in India since the concept of authorized capital has been abolished. However, for certain types of companies, such as banking and non-banking financial institutions, minimum capital requirements may apply.
What are the tax implications of incorporating a business in India?
Tax implications vary depending on the type of business entity and the nature of its activities. Generally, companies are subject to corporate income tax, while partnerships and sole proprietorships are taxed based on the income of the partners or proprietors.
Can foreign nationals or non-residents incorporate a business in India? What are the restrictions, if any?
Yes, foreign nationals and non-residents can incorporate a business in India subject to certain conditions and restrictions. They may need to comply with foreign direct investment (FDI) regulations, sectoral caps, and obtain necessary approvals from regulatory authorities.
What are the compliance requirements post-incorporation, such as filing annual returns and maintaining statutory records?
Post-incorporation compliance includes filing annual returns, conducting board meetings, maintaining statutory registers and records, complying with taxation requirements, and adhering to various provisions of the Companies Act, 2013.
Are there any specific industry regulations or licenses required for certain types of businesses in India?
Yes, certain industries in India are subject to specific regulations and licensing requirements. For example, sectors such as banking, insurance, pharmaceuticals, telecommunications, and food processing require licenses from regulatory authorities.
How can I protect my intellectual property rights when incorporating a business in India?
You can protect your intellectual property rights in India by registering trademarks, patents, copyrights, and designs with the appropriate authorities such as the Controller General of Patents, Designs and Trademarks or the Copyright Office. Additionally, entering into confidentiality agreements and non-disclosure agreements can help safeguard your intellectual property.