COMPANY FORMATION
GOOD START!
"GOOD START"
("Shubhaarambh", common phrase in Hindi) is important. It is utmost important that the right structure is chosen to start a business.
Which structure suits YOU?
BUSINESS STRUCTURE
A structure of a business defines its path as well as the purpose.
For example, the easiest and the simplest venture is "Sole proprietorship"; as the name suggests, such business is controlled and managed by single person and is a commonly used form of business structure in India. But, Sole proprietorship form a part of the unorganized sector and is utilized by small businesses in India. It is hassle free form of business structure as it has minimal regulatory compliance requirement. It is thus preferred by small manufacturers and traders which require very small investment.
On the other hand there are other business structures like "Partnership" or a Company. Where a partnership again can be an Limited Liability Partnership (LLP) or a Simple Partnership. LLP is mostly preferably considered for professional services. LLP business model is organized and operates on the basis of an agreement. It lies midway between a partnership firm and a company as this establishment combines the flexibility of a partnership and the advantages of limited liability of a company.
Checkout for the business structures given below, which can suit your need
TYPE OF STRUCTURES
PRIVATE LIMITED COMPANY
In case you are a group of 2 or more who wants to start a business, which should be treated as separate Legal entity, has perpetual succession i.e. continues to be in existence even after death, must have limited liability, higher borrowing (fund raising) capacity, easy transferability of ownership, easy exist and unlimited salary slab for directors, get your business registered as Private Limited Company.
PUBLIC LIMITED COMPANY
In case you are large group who wants to start a business, which should be treated as separate Legal entity, has perpetual succession i.e. continues to be in existence even after death, higher borrowing (fund raising) capacity and easy transferability of shares, get your business registered as Public Limited Company.
.png)
LIMITED LIABILITY PARTNERSHIP
In case you want to start a business, which should be treated as separate Legal entity, has perpetual succession i.e. continues to be in existence even after death, limited liability and easy transferability of ownership, get your business registered as Limited Liability Partnership.
ONE PERSON COMPANY
In case you want to start a business as a single promoter, which should be treated as separate Legal entity, has perpetual succession i.e. continues to be in existence even after death, must have limited liability, higher borrowing (fund raising) capacity, easy transferability of ownership and easy exist, get your business registered as One Person Company.
PARTNERSHIP
In case you and your friend together want to start a business with no cumbersome legal formalities, we will help you in preparing a partnership deed which shall determine the ownership of the firm, profit sharing ratio, rights and responsibilities of each of the Partner.
SOLE PROPRIETORSHIP
In case you want to start a business as a single promoter, which you want to start easy, claim an exemption from tax filing upto 3 Lakhs of income, run the business without cumbersome legal formalities and easy winding-up (closing), get your business registered as Sole Proprietorship Firm.
SPECIAL ENTITIES
Apart from the types given above, there are other Special Entities under which you can register your Business, namely:
You should register your business as a Special Entity only if the same falls under the conditions laid down for such entity.
Still not able to decide the structure for your business, reach us out for Consultation.
IKNOWVENTIA JUDICIUM
