Company Registration in Bangalore
Private Limited Company Registration
Private Limited Company is the most prevalent and popular corporate legal entity in India. The registration of private limited companies is governed by the Ministry of Corporate Affairs, the Companies Act of 2013 and the Rules of incorporation of companies, 2014. To register a limited company, a minimum of two shareholders and two directors are required. A natural person can be both a director and a shareholder, while a corporate legal entity can only be a shareholder. In addition, foreign citizens, foreign corporate entities or NRIs can be Directors and/or Shareholders of a Company with Foreign Direct Investment, making it the preferred option of the entity for foreign promoters.
How to Register a Company in India?
Registering a company in India is now a 4-step process.
- A Digital Signature Certificate(DSC)
- A Director Identification Number (DIN)
- Registration on the MCA Portal or New user registration
- Certificate of Incorporation
Types of business structures in India
One Person Company (OPC): recently introduced in 2013, an OPC is the best way to start a business if there is only one developer or owner. It allows a single owner to carry out their work and remain part of the corporate framework.
Limited Liability Partnership (LLP): A separate legal entity, in an LLP, the responsibilities of the partners are limited only to their agreed contribution.
Private Limited Company (PLC): A company in the eyes of the law is considered a legal entity separate from its founders. It has shareholders (stakeholders) and directors (company officers). Each individual is considered an employee of the company.
Public Limited Company (PLC): A PLC is a voluntary association of members that is incorporated into company law. It has a separate legal existence and the responsibility of its members is limited to the shares they own.