The process of forming a company or starting a new business in Bangalore has gotten relatively simple in recent years. A process that results in a firm being registered as a corporate entity is known as company incorporation.
Bangalore is India’s IT powerhouse, offering a plethora of opportunities and a supportive environment for young entrepreneurs looking to establish and build their businesses. The Karnataka register of companies is in Koramangala, Bangalore. However, the procedure of forming a company is now handled by CRC.
The registration process can be completed on the MAC website, which is run by the government.
You can now follow MCA’s step by step method for forming a business.
1. Approval of company name
To reserve a company name, the applicants must submit an application to MCA using the RUN service. The INC-1 e-form was superseded by the RUN service in order to reserve a name without obtaining DSC and DIN from proposed directors, resulting in a faster and modified procedure for approval.
2. Acquire the proposed director’s DSC
DSC stands for Digital Signature Certificate which allows any documents submitted online to be signed digitally. This certificate serves as verification of an individual’s identity for a specified purpose. You can get your DSC by going to any government departments’ certifying authorities that are registered with the controller of certifying authorities.
3. Acquire the proposed director’s DIN
A DIN (director identifying number) is a unique and legal identification number assigned to any organisation’s present or prospective director. Anyone who wants a DIN should fill-out e-form DIR-3 on the ministry of corporate affairs’ website. If you incorporate your business using SPICE e-form, you do not need to apply for a DIN in DIR-3 form. SPICE will also apply for a DIN for new company directors.
4. Draft MOA and AOA
The Company’s constitution comprises the MOA and AOA. Both are bylaw documents that outline the nature of the business, its goal, control, operating area and the laws and regulations that it must follow. A company’s articles should include the company’s management regulation, according to section 5 (1). Following receipt of the letter of intent, the MOA and AOA must be drafted.
5. Filing of documents with the Registrar of companies
The company’s registration form was previously filed with the Karnataka ROC, but it is now filed with the Central Registration Center (CRC) in form number INC-32 (SPICe +), together with the appropriate government fees and stamp duty.
6. Issue of company incorporation certificate
The ROC will register your company and issue a certificate of incorporation in the INC-11 e-form if all papers and e-forms appear to be in order. Your business is now registered under the companies act of 2013.
7. Corporate identification number allotment
The registrar will assign a separate alphanumeric corporate identification number (CIN) to the registered company that is mentioned on the certificate of incorporation along with its authorised name, date, business categories, PAN, TAN, TF, ESIC number and company bank account as defined in section 7 (3) of subsection (2).
If you want to start a business in Bangalore, the first thing you must consider is what type of business you want to start. You have the following options to start from:
Documents required for company registration
Proof of identity and address of shareholders and directors
Advantages of the company registration process
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