Quick Company Registration in India. Company registration in India is easy simple and quick with Ebizfiling.com Prices starts at INR 7,399/-
CA/CS Assisted | 4.8/5 Rating
Company registration in India starts with selecting a favourable business structure for the business. Before you start giving the shape to your business, it is very important to select a business structure that will be proved to be beneficial for your business in the long run. It is also very important to select a right business name.
Following are the important business structures for company registration in India:
While making a Company Registration in India it is important to choose your business structure carefully while registering your company, as each business structure has different levels of compliance that need to be met with. For example, One Person Company and a Private Limited Company has to file an income tax return as well as annual returns with the Registrar of Companies. A company’s books of accounts are mandatory to be audited every year. Therefore, it is important to select the right business structure when thinking of Company registration in India.
Risk: All businesses carry some degree of risk, and business owners will want to choose a structure that protects their personal assets from business liabilities.
Taxation: Another important aspect is to think upon is taxation. Each business structure has to compell with different business structures. To help you further select read: What is beneficial Pvt Ltd., OPC or LLP- from the taxation point of view.
Complexity: To choose a business structure, it is important to examine the complexity of the process, list of requirements, compliance, etc before selecting the right structure for your company registration in India.
An entrepreneur must have a clear idea of the kind of legal compliance he/she is willing to deal with. While some business structures are relatively investor-friendly than others, investors will always prefer a recognized and legal business structure. For example, an investor may hesitate to give money to a Sole Proprietorship Firm. On the other hand, if a good business idea is backed by a recognized legal structure (like Private Limited Company, Limited Liability Partnership, etc) the investors will be more comfortable making an investment.
EbizFiling.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory, and management consultancy services to clients in India and abroad. You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com for a free consultation on choosing the right form of organization.
|
Point of difference |
One Person Company |
Private Limited Company |
Limited Liability Company |
|
Registration |
One Person Company will be registered with the Ministry of Corporate Affairs under the Companies Act, 2013. |
Private Limited Company will be registered with the Ministry of Corporate Affairs under the Companies Act, 2013. |
LLP will be registered with the Ministry of Corporate Affairs under the Limited Liability Partnership Act, 2008. |
|
Name of the Entity |
The choice of the name provided by the Promoter must be approved by the Registrar of the Company. Only names that are not identical/similar to an existing company or LLP name and names that are not offensive or illegal would be allowed. The name of the entity will end with the words (OPC) Pvt. Ltd./ (OPC) Ltd. |
The choice of the name provided by the Promoter must be approved by the Registrar of the Company. Only names that are not identical/similar to an existing company or LLP name and names that are not offensive or illegal would be allowed. The name of the entity will end with the words “Private Limited Company”. |
The choice of the name provided by the Promoter must be approved by the Registrar of the Company. Only names that are not identical/similar to an existing company or LLP name and names that are not offensive or illegal would be allowed. The name of the entity will end with the words “Limited Liability Partnership” or “LLP”. |
|
Legal Status of Entity |
One Person Company is a separate legal entity registered under the Companies Act, 2013. The Directors are liable for defaults made under the act. |
Private Limited Company is a separate legal entity registered under the Companies Act, 2013. The Directors and Shareholders of a Private Limited Company are not personally liable for the liabilities of the Company. |
LLP is a separate legal entity registered under the LLP Act, 2008. The partners of an LLP are not personally liable for the liabilities of the LLP. |
|
Member(s) Liability |
Shareholders have limited liability and are liable only to the extent of their share capital. |
Shareholders have limited liability and are liable only to the extent of their share capital. |
Partners have limited liability and are liable only to the extent of their contribution to the LLP. |
|
Existence of survivability |
The existence of One Person Company is not dependent upon its members and hence, it has a perpetual succession i.e., the death of a member does not affect the existence of the company. |
The existence of a Private Limited Company is not dependent on the Directors or Shareholders. Could be dissolved only voluntarily or by Regulatory Authorities |
The existence of an LLP is not dependent on the Partners. Could be dissolved only voluntarily or by an Order of the Company Law Board. |
(All Inclusive)
(All Inclusive)
(All Inclusive)
A Private Limited Company in the eyes of the law is regarded as a separate legal entity from its founders. It has shareholders (stakeholders) and directors. Each individual is regarded as an employee of the company.
LLP Registration, a prime reason why it has evolved is that of its simplicity in a formation and easy maintenance. It helps owners also to limit their liabilities. This is the biggest advantage of an LLP over a traditional partnership firm.
A Sole proprietorship is a form of business entity where a single individual handles the entire business organization. He is the sole recipient of all profits and bearer of all loses. There is no separate law that governs sole proprietorship.
OPC or One person company is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with concessions in compliance requirements under the Companies Act.
Partnership registration is a business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in the Partnership Deed. It is owned, managed and controlled by an Association of People for profit.
The term HUF stands for ‘Hindu Undivided Family’ and comprises of all descendants of a common male ancestor and includes their wives and unmarried daughters. The term of HUF is not defined in income tax law; it is defined under the Hindu Law as a family.
5 Easy Steps
Complete a Checklist
Submit Documents
Verification of Documents
Obtain Registration Certificate
Obtain PAN And TAN
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of name for your Private Limited Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Private Limited Company in Part A of SPICe Plus form.
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
1 : Sole Proprietorship.
2 : Limited Liability Partnership(LLP)
3 : One Person Company(OPC)
4 : Private LTD Company
5 : Public LTD Company
6 : Partnership
Step 1: Procure Digital Signature Certificate: The first and foremost step is to procure the DSCs of the Personnel involved in Private Company Incorporation in India.
Step 2: Obtain Director Identification Number.
Step 3: Reservation of Name.
Step 4: Certificate of Incorporation.
Steps and Business days required for company registration (Approx) :-
Getting Digital Signature Certificate. -> 2 days
Getting Director Identification Number Of DIN -> 1 day
Name Approval -> 3 days
Company registration -> 5 days
The answer is no! Registering a company is not the only way to start a business in India. The simplest way to start your own business is to acquire any tax license, like service tax registration.
For Sole proprietors there is no formal registration, but they can get it registered through SSI/MSME Registration or GST Registration. However, if you’re starting a One Person Company, Private Limited Company or Limited liability partnership (LLP), you are legally required to register with Registrar of Companies.
Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.
Quick Company Registration in India. Company registration in India is easy simple and quick with Ebizfiling.com Prices starts at INR 7,399/-
Call Now Button
