01 Mar
HOW MANY TYPES OF COMPANY REGISTRATION ARE THERE IN INDIA?
HOW MANY TYPES OF COMPANY REGISTRATION ARE THERE
IN INDIA?
When
a new entrepreneur is preparing to start his own company, He has lots of doubts
like who can start a company for him? What laws do they have to follow? What
are the tax filings of the year? & it is necessary for entrepreneurs to
know about it.
This
morning I got a call from one businessman that he wants to shift his OPC (ONE
PERSON COMPANY) to PRIVATE LTD COMPANY. Then I ask him for more in-depth
information, I found out that he does not know why he has registered OPC
(ONE PERSON COMPANY), so friends, you may have a similar situation.
Now
let us see who can register & what kind of business in India
How
many types of company registration are there in India?
The
answer is:
• Proprietor
• One Person Company (OPC)
• Traditional Partnership
• Limited Liability Partnership (LLP)
• Private Limited Company (Pvt Ltd
Comp.)
Let's
understand more in details
• SOLE OWNER (PROPREITOR): -. A single
entity is run by a single person and usually operates in a traditional
business. This is a one-man show that is not scalable beyond a certain point.
In addition, there are no rules or laws that regulate its registration and
operation, such as XYZ ENTERPRISES
• ONE PERSON
COMPANY: - A company operates a company that also has
shareholders and directors. However, it is always better to register more or
less as a private limited company, both have the same tax and compliance
requirements and Pvt. Ltd. does not depend on one person for survival alone.
Such as XYZ MARKETING OPC PVT LTD
• TRADITIONAL PARTNERSHIP: - At least two
people are required as partners. But now businesses prefer to register them as
LLPs. We do not recommend registering as a traditional partnership firm as it
has unlimited liability, such as XYZ ENTERPRISES
• LLP (LIMITED LIABILITY PARTNERSHIP): -
Like a traditional partnership firm but with limited liability. It combines the
advantages of a traditional firm (less regulation, more control) and a
corporate component (limited liability of partners). Such as XYZ MARKETING LLP
• PRIVATE LIMITED COMPANY: - Establishment
of at least two shareholders. Compared to LLPs, profits are equity shares
rather than negotiated ratios. However, in this the laws are strict. This is a
good option to attract large investments in the future ‘private’ indicates that
it cannot invite people to buy its shares and ‘limited’ indicates that the
liability of shareholders and directors is limited. Example XYZ MARKETING PVT
LTD
So
now don’t need to worry about company registration because we Alliance Tax
Experts will now give you the full information you need before setting up a
company for free.
No
matter where you are in Mumbai, Navi Mumbai or the rest of Maharashtra, just
call us once before starting any business or registrating any business
We
have a contact number
Santosh
Director
& Founder
9769201316
santoshpatil@alltaxfin.com
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