Company registration in Karnataka – How to register company in Karnataka

Karnataka, known for its vibrant economy and technological hub, offers excellent opportunities for business. Registering your company here can open many doors.

Types of Business Entities in Karnataka

1. One Person Company (OPC): Ideal for solo entrepreneurs with limited liability.
2. Limited Liability Partnership (LLP): Suitable for two or more partners with limited liability.
3. Private Limited Company: Great for groups looking to raise funds.
4. Public Limited Company: Best for large businesses that offer shares to the public.

Steps for Business Registration in Karnataka

1. Choose a Unique Name: Ensure it’s not similar to any registered trademark or company name.
2. Directors and Members: Minimum three directors for a public company, two for a private company, and one for an OPC. At least one director must be an Indian citizen.
3. Digital Signatures and Identification: Obtain Digital Signature Certificates (DSC) and Director Identification Numbers (DIN) for all directors.
4. Registered Office: Secure a physical address in Karnataka.
5. Prepare Documents: Create a Memorandum of Association (MOA) and Articles of Association (AOA).

Costs to Register a Company in Karnataka

The government fees for registering a company in Karnataka depend on the type of company and its authorized capital. Here are the approximate costs:

• One Person Company (OPC): Starts from Rs 10000
• Private Limited Company: Starts from Rs 10,000 (depending on authorized capital)
• Public Limited Company: Starts from Rs 10,000 (depending on authorized capital)
• Limited Liability Partnership (LLP):Starts from Rs 5,000 (depending on number of partners and capital)

Registering with the Karnataka ROC

Karnataka has one Registrar of Companies (ROC) located in Bangalore. The registration process is online via the MCA website. Submit the required documents and application online, and the CRC will process them.

• Bangalore ROC: Registrar of Companies, Bangalore.

Specific Post-Registration Requirements in Karnataka

Once registered, companies must obtain:

• Shops and Establishment Act License: Apply Here
• Professional Tax Registration: Apply Here
• Labour Welfare Fund (LWF) Registration: Apply Here

Karnataka Startup Scheme

Karnataka offers a startup scheme to support new businesses with various incentives and support systems. Benefits include:

• Financial Assistance: Grants and subsidies.
• Infrastructure Support: Access to co-working spaces and incubators.
• Skill Development: Training and mentorship programs.

Learn more and apply: Karnataka Startup Policy.

Business Registration Process

1. Apply for DSC and DIN: For all directors.
2. Reserve Company Name: Use Part-A of the SPICe+ form on the MCA website.
3. Fill SPICe+ Form: Complete the company details in Part-B.
4. File eMOA and eAOA: Submit electronically.
5. Submit AGILE-PRO Form: For bank account opening and GSTIN, EPFO, ESIC, and professional tax registration.
6. Upload Documents: Submit required documents online.
7. Submit and Pay Fees: Attach DSC and professional declaration, then pay fees and stamp duty.

The ROC will issue the Certificate of Incorporation, PAN, and TAN once the documents are verified.

Documents Needed

• PAN Card: For directors and shareholders.
• ID Proof: Aadhaar, Voter ID, Driving License, Passport (for foreign nationals).
• Address Proof: Bank statement, utility bill, or rental agreement.
• Office Address Proof: Utility bill, rental agreement with NOC, or property deed.

Benefits of Registering in Karnataka

• Asset Protection: Safeguards personal assets.
• Perpetual Succession: Company continues despite changes in ownership.
• Credibility: Enhances business reputation.
• Investment Attraction: Increases potential for growth and development.

By following these steps, you can successfully register your business in Karnataka and take advantage of the state’s supportive environment for entrepreneurs.