Private Limited Company Registration In Bangalore

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Private Company

Starting a business is a more interesting and an innovative experience in anyone’s life.” Private Limited Companies has the biggest advantage that it allows the 100% foreign direct investment, where foreign entities can invest a huge amount to the Indian company which doesn’t need any approval from the government”. Private company is formed or organised by a group of team members with the limitation of 50 exclusive of the former and present employees. Most importantly the shares will not be traded to outside of the public and transferring of shares, inviting the public to subscribe for shares and debentures would be strictly restricted.

Characteristics of Private Company

In a private company, the minimum capital investment can be of rupees 1 Lakh.

While forming a private concern, it needs only two or more persons.
Private companies are exempted from holding statutory meetings.
It has been limited that there should not be more than two directors.
It has been given privilege to amend all or any of the provisions which relating to conduct the general meeting.
Restrictions on the power of board of Directors are not applicable in the case of private companies.
A private company need not constitute a committee of the board which is known as audit committee.
There is no need of central government approval in the case of increasing the number of directors beyond 12.
All the copies of profit and loss account, balance sheets to be filed separately and submit to the registrar, no person other than a member is entitled to inspect the profit and loss account details.

Documents Needed For Private Company Registration

Documents

Here we have a list of important documents that need to be produced for incorporating a company:
Director Identification Number of the director
Digital Signature Certificate
Passport sized photographs of director and shareholders.

Proof of identity for Indian Nationals:

PAN card:

This is an important one for Ministry of corporate affairs to communicate the company or its director through that name which is mentioned in that PAN. So if there is need to change a name for any personal reasons, you need to change before the incorporation of a company.

Address proof:

Self attested copy of address proof of the director is needed and the name should be same as like it is mentioned in the PAN.
The list of things will be considered as an address proof, they are as follows
• Ration card
• Driving license
• Passport
• Voter identity card
• Bank statement
• Electricity bill
• Telephone bill
The above mentioned address proof and identity proof for directors and also all the shareholders in a company should also provide.

Proof of identity for foreign nationals:

• Since the person is a foreign national, passport is an important one to consider, if the language is not in English it must be translated and it should be notarised.
• The address proof should be submitted; there it needs a clear mention of director name which is mentioned in the passport. The current address need to be there.
• The following documents will be taken as an address proof.
1. Driving license
2. Residence Card
3. Bank statement
4. Identity which should be a government issued one, if it is in foreign language, later it can be translated and notarized.

Proof of the registered office:

The valid one will be taken as a proof of the registered office. This need to be produced within the 30 days of incorporation or else you can produce during the registration process itself.
• The registered name of the company documents or the rental agreement copy of the company can also be produced.
• No objection certificate from the landlord i.e., the owner of the property for the registered office which is in his/her premise and that person need to submit his/her identity and address proof.
• Copy of Sale deed or property deed need to be produced.

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