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Monday, 4 June 2018

Startup Registration Service


Proprietorship
A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. A sole proprietorship is a business that is owned, managed and controlled by one person. It is one of the most common forms of business in India, used by small businesses operating in the unorganized sectors.
Proprietorship's are very easy to start and have very minimal regulatory compliance requirement for getting started. However, after the startup phase, proprietorship's do not offer the promoter a host of other benefits such as limited liability, separate legal entity, independent existence, transferability, etc., which are desirable features for any business. Therefore, proprietorship's are suited for unorganized, small businesses that will have a limited existence.
Preetham Shetty & Co. can help start-up a Proprietorship in 7 to 14 days, subject to Government processing time. Since the proprietorship is itself not distinguishable from its owner hence there is no registration or approval is required to start a proprietorship business. Proprietorship's do not have a process of incorporation. Therefore, our Business Advisers will advise you on the way the identity of the Proprietorship business can be established through other Government registrations.
There is no mechanism provided by the Government of India for the registration or incorporation of a Proprietorship. Therefore, the existence of a proprietorship is established only by tax registrations and other business registrations that a Proprietorship is required to have as per the rules and regulations. At Preetham Shetty & Co., we can help you establish an identity for your Proprietorship by obtaining the relevant registrations.
Hindu Undivided Family (HUF) Registration
HUF – Joint Hindu Undivided Family Business is a distinct type of organization which is unique to India. Hindu Undivided Families are the form of organizations has separate legal entity for the purpose of tax assessment. As the name suggests, an HUF is a family of Hindus. However, even Buddhists, Jains and Sikhs are regarded as Hindus, and can, therefore, set up HUFs. The concept of an HUF has basically evolved from ancient Hindu law. The HUFs have been defined under the Hindu law as a family, which consists of male lineally descended from a common ancestor and included their wives and unmarried daughters.
The relation of HUFs arises from the status not from legal contracts. Creating HUFs are the best possible way for an assessee to save taxes.
The registration of Joint Hindu Undivided Family is recommended as it helps in protection against infringement.
Partnership Company Registration
A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.
There are two types of Partnership firms, registered and un-registered Partnership firm. It is not compulsory to register a Partnership firm; however, it is advisable to register a Partnership firm due to the added advantages. Partnership firms are created by drafting a Partnership deed amongst the Partners and Preetham Shetty & Co. can help start a registered or un-registered Partnership firm in India.
One Person Company Registration
With the introduction of the Companies Act, 2013 the concept of OPC (one person company) was introduced to support entrepreneurs who on their own are capable of starting a business by allowing them to create a single person economic entity. Only one single member is required to incorporate an OPC, which is the biggest advantage of OPC over private limited companies & partnerships. Similar to a Company, an OPC is a separate legal entity from its members, offers limited liability protection to its shareholders, is easy to incorporate and continues in the foreseeable future.
This is a new concept introduced by the Companies’ Act 2013 and is available for a business with a capital up to Rs.50 Lacs and a turnover up to Rs.2 Crore. The one-person company has some benefits in the companies act in terms of non-applicability of some provisions of the new act.
Limited Liability Partnership (LLP) Registration
Limited Liability Partnership Act, 2008 brought with itself the concept of LLP. The benefits of LLP are that it is simple to maintain & it provides the privilege of limited liability to the owners. Thus, combines the benefits of both company & partnership into a single organization. One partner is not responsible or liable for another partner's misconduct or negligence. Therefore, all partners have a sought of limited liability for each individual's protection within the partnership, similar to that of the shareholders of a corporation.
The only difference between the company and the LLP is that, the partners have the right to manage the business directly. Also, the personal assets are free from the errors, omissions, incompetence, or negligence of the LLP's employees or other agents. Thus, LLP is one of the easiest forms of business to incorporate and manage.
Private Limited Company Registration
A private company can be incorporated by following the provisions and regulations stated under the Company's Act 2013. The minimum number of persons required for the incorporation is 3. Whereas the maximum limit of the number of persons is 50. There are many benefits that are achieved by a private limited company. It enjoys a greater stability, legal identity, it is flexible and a greater combination of capital. This is supported with the diversified and different abilities of capital accumulation. The private company can be easily identified by just looking at the name, number of members it incorporates, the managements, directors etc. The number of directors who are to incorporate must be mentioned in Articles of Association. However, the private companies who enjoy its distinguished legal entity and the private companies which are the subsidiary of the other public companies is differentiated in Company's Act.
Preetham Shetty and Co can write and structure your company's objective, purpose, constitution, vision and mission statement, which will appeal to all stakeholders Help in selecting a very catchy name of your company and do the registration, and complete all the government procedures and compliance Do INC-32 Filing and File for PAN & TAN.
Public Limited Company Registration
A limited company grants limited liability to its owners &management in which it’s belong. Being a public company allows a firm to sell shares to investors this is beneficial in raising capital. it has required more stringent regulatory requirements as compared to a Pvt. Ltd Company.
A Public Ltd Company has almost all the characteristics of a private limited company. A Public Limited Company, in addition to the steps followed by a Private Limited Company has to obtain a certificate of Commencement of Business before they can commence the business.
Indian Subsidiary
There is a lot of interest among foreign companies to start their operations in India and tap into one of the largest and fast growing market, and have access to some of the best human resources in the world. A Foreign National (other than a citizen of Pakistan or Bangladesh) or an entity incorporated outside India (other than entity incorporated in Pakistan or Bangladesh) can invest and own a Company in India by acquiring shares of the company, subject to the FDI Policy of India. In addition, a minimum of one Indian Director who is a Indian Director and Indian Resident is required for incorporation of an Indian Company along with an address in India.
When an Entity which is incorporated outside India (i.e. Foreign Country), makes 100% Foreign Direct Investment (FDI) as per Indian FDI policy, the Indian company incorporated for this purpose is said to be wholly owned subsidiary of that foreign entity. Under the current foreign investment policy, a wholly owned subsidiary can be established either under the automatic route, if the conditions specified therein are complied with (specific high priority industries) or obtain an approval from the FIPB. This is the easy and best method for setup a foreign based Company in India, where entire hold on share capital of a Indian company is hold by Foreign Based Entity.
Liaison Office in India
Foreign companies planning to set up their business operations in India need to start a liaison office. The main purpose of starting a liaison office is to explore possible business opportunities in India by gathering relevant business information. This helps the companies to develop a business strategy to tap the existing business potential in India. A liaison office also acts as a marketing channel to provide business information about the parent company and their products to the prospective clientele in India.
Section 8 Company
Generally, companies are promoted with an object of making profit by carrying commercial transactions. But a company can be registered with charitable motive with the object not to make any profit also. These companies must be formed with an object to promote of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object. Meaning of Non-profit making Company. The name of a Company registered under Section 8 of the Act, the name shall include the words foundation, Forum, Association, Federation, Chambers, Confederation, council, Electoral trust etc.
As per section 8 of Companies Act 2013,where it is proved to the satisfaction of the Central Government that a person or an association of persons want to register themselves under section 8 as a limited company for the furtherance of above mentioned objects, the Central Government may, by license issued in prescribed manner allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited” , and thereupon the Registrar shall, on application, in the prescribed form, register such person or association of persons as a company under this section.
Confused on what to choose? visit our blog post:

1 comment:

  1. Nice post mate, keep up the great work, just shared this with my friendz Company registration

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