Company Registration in India

Company Registration in India 

Whenever we plan to start a business in India, you first need to register one company or entity. In this article we are going to discuss different aspect of company registration. 

1. Different type of company registration.
2. What is the cost of registering a company in India?
3. How can I open a company in India?

Different types of Business registration In India.

There are other forms of Business registration such as:

1. Sole Proprietorship
2. Partnership Firms
3. One Person Company (OPC)
4. Public Limited Company
5. Private Limited Company
6. Limited Liability Partnership (LLP)
7. Section 8 Company

Sole Proprietorship Registration @ Rs. 1999 

These are businesses which are run by a single person or to say a sole trader. There is no legal distinction between a sole trader and his/her business. These models do not need any kind of Business Registration.

He/she manages the entire business and can employ people to work under him/her.

Partnership Firm Registration@ Rs5999 

Partnership Businesses in India are governed by the Indian Partnership Act, 1932. A partnership is a form of business where two or more people share ownership, as well as the responsibility of managing the firm. Partnership business can be carried out with or without registration.For registering your partnership firm, you have to create a Legal Partnership Agreement which will define the roles and responsibilities of each partner in the firm.

The partnership deed will define the profit sharing ratio between the partners. In case of losses, the partners have to be personally responsible for it. Personal assets of partners may be used to compensate the losses incurred if any.

However, in the case where the partnership deed is not registered, the partners may not be able to enjoy the benefits which a registered partnership firm enjoys.

One Person Company (OPC)@Rs7999

One Person Company is a hybrid form of Sole-Proprietorship and Company form of business which is governed under The Companies Act, 2013. This model is a stepping stone for entrepreneurs who can own and manage the business as a sole member and director of the Company.

As the name suggests, there can be only one member which is the biggest advantage unlike a Private Limited Company or a Limited Liability Partnership.

A One Person Company (OPC) is a separate legal entity from its member. The model offers separately limited liability protection to its shareholder and also gives an advantage of continuity of business.

Public Limited Company@Rs34999/-

In simple terms, a company which is not a Private Limited Company is a Public Limited Company. They are also registered under, The Companies Act, 2013. Every such Company should have a minimum of 7 members and 3 directors. There is no restriction on the transfer of shares in a Public Limited Company.

Private Limited Company@Rs. 7999/- 

Private Limited Company is the most sophisticated form of doing business in India and almost every company in India belongs to this clan. They are registered under, The Companies Act, 2013. Under this structure of Company Registration, the business assets are separated from personal assets. The name of every such company has to end with the words Pvt. Ltd.

There are generally 3 kinds of the capital clause for a Private Limited Company:

1. Company Limited by Shares – The liability of the members is limited to the amount of the unpaid shares which are held by them.
2.  Company limited by Guarantee – A company limited by guarantee does not usually have a share capital or shareholders but instead has members who act as guarantors. The guarantors give the undertaking to contribute a nominal amount as agreed in the event of the winding up of the company.
3. Unlimited company – Under this, the members are personally liable to the company to an unspecified extent.

The maximum number of members for a private company is 200 with a minimum of 2. The company should also have a minimum of 2 directors.

 Limited Liability Partnership (LLP)@ Rs. 6999

This concept was first introduced under the Limited Liability Partnership Act, 2008. A LLP is a hybrid form of entity which has the characteristics of both, a partnership firm and a Company. The personal assets of partners are not put at risk as the maximum liability of each and every partner is defined by his share capital in the entity.

It is a more preferred business model for the investors over Partnership Firms and Sole Proprietorship as they have better credibility.

Section 8 Company@Rs. 15999

Non-Profit Organization (NPO) is termed as Sec 8 Company under The Companies Act, 2013. Section 8 Company is a limited liability Company formed with charitable objects. The government grants a Section 8 Company the right to drop the terms “private limited” or “limited” as a suffix from their names, on the following conditions:

a) Section 8 Company must be formed for charitable objects (art, science, education, sports, social welfare, research, charity, religion, environment).

b) Income and profits should be applied towards these objects, and

c) The Section 8 Company should not pay any dividend to its members.

Thus, these are the different forms of Business Registration under which you can incorporate /register your business.

When thinking of starting a business, you shouldn’t only think of the revenue model or your area of operation for your business but also the various heads under which you should register your business as a separate legal entity.

Therefore, choose from the list mentioned above.

How can I open a company in India?

To Start Company registration process first you need to complete documentation , make payment and get your company registered within 7-15 working day from setupfilling.com. .

To start process, Schedule Online or Telephonic appointment with Experts. We provide our services on Pan India Basis.

Our Other Services 

Startup India Registration, MSME Registration, Proprietorship Registration , MSME Registration , Trademark Registration, Copyright Registration, Patent Registration, Private Limited Company Registration , One Person Company Registration, Shop and establishment Registration , Import Export License 

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