Start a Buisness
Private Limited Company Registration
Establishing a private limited company, which offers its shareholders limited liability while imposing specific ownership limits, is one of the most highly advised ways to launch a business in India. The partners will be in charge of it if it is an LLP. A private limited corporation, on the other hand, permits directors and stockholders to be distinct legal persons.
A K Y V AND CO LLP, your trusted legal counsel, provides an affordable service for registering your business in India. We manage all legal processes and make sure that the rules established by the Ministry of Corporate Affairs (MCA) are followed. We give you an incorporation certificate (CoI), PAN, and TAN documents when the pvt company registration procedure is successfully completed. With them in hand, opening a current bank account and starting your business activities will be simple.
Limited Liability Partnership
An alternate business structure that combines the benefits of a company with the adaptability of a partnership firm is known as an LLP Registration in India. The Limited Liability Partnership Act of 2008 was responsible for introducing the LLP concept in India. This unusual mix can be used to establish small and medium-sized businesses.
An LLP Registration in India is a different type of business structure that combines the advantages of a corporation with the adaptability of a partnership firm. The LLP concept entered India thanks to the Limited Liability Partnership Act of 2008. Small and medium-sized businesses can be established using this uncommon combination.
General Partnership
A general partnership is a type of commercial agreement when two or more people concur to split the duties, resources, earnings, and fiscal and legal liabilities of a jointly owned company.
Partners in a general partnership consent to personally bear potentially limitless liability. Liabilities are not limited, as they would be in a partnership that has been organised as a limited liability partnership or an LLC. Partners are accountable for the debts, and an owner’s assets may be seized. Additionally, any partner could be held liable for the obligations of the company.
Each partner reports their share of partnership profits or losses on their individual tax returns since a general partnership is a pass-through organisation, where revenue is sent directly to the owners. The partnership is exempt from taxation.
Charitable Trust
A trust deed must be signed in order to establish a trust. There are two varieties of trusts:Â
(a) Public GoodwillÂ
(b) Private Trust .Â
A private trust is established for the advantage of a specific set of people known as “beneficiaries.” For the purpose of carrying out different social & charitable activities for the general public, public charity trusts may be established. Some of these actions include:
- Academic awareness
- Raising awareness of sanitation and health
- Promotion of diverse skill-building activities, sports, and the beautiful arts
- Empowerment and advancement of women
- Provide medical assistance for conditions like cancer, AIDS, etc.
- Providing support to the elderly and the disabled
- Environmental protection through practises like tree planting
- Organising blood donation and medical camps, etc.
- And any other endeavour aimed at advancing society
For the creation and management of trusts in their respective states, some Indian states have created state-level Public Trust Acts.
One Person Company
With the passage of the Company’s Act in 2013, a novel idea known as the “One Person Company” was established in India. A single person in India can form a “One Person Company.” A single person could not form a business prior to the implementation of the Companies Act of 2013. An OPC combines the advantages of a sole proprietorship with those of a company. In the past, a person should only choose a single proprietorship if they needed to start a firm.
According to the Companies Act of 2013, a one-person company can register in India with just one director and one member. The same person may serve as both the Director and a member. Here, a person can register an OPC in India whether they are a resident or non-resident Indian.
