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Indian legislation provides various form of business formation vis-a-vis sole-proprietorship, partnership, LLP, Company, OPC etc. With so many legislation, it is very imperative for #young entrepreneurs (#startups) to chose the right mix of organisation to suit business needs. The presentation intends capturing basic insight and comparison to chose the right organisation structuring. Here, we have chosen the Company mode (which may or may not suit your requirement, do proper evaluation). We request the audience to discuss with expert before proceeding any other.
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How to register your business- Legislation unfold
liabilityCompanyltd PartnershipPlc Sole-
trader Director shareholder
Mem
oran
dum
Art
icle
sInc.
LLP
Priv
ate
OPC
forms
DIN
LLP
OPC Partnership
FirmCompany
COMPANY LLP OPC
COMPANY LLP OPC
COMPANY LLP OPC
Features Company LLP Partnership Sole-Proprietor
Registration Compulsory Compulsory Not Required Not Required
Formation Under law Under law Under contract N.A.
Partners Minimum 2 Minimum 2 Minimum 2 Sole
Liability Limited Limited Unlimited Unlimited
Legal entity status
Separate Separate Not separate Not separate
Corporate Governance
Procedural Flexibility Not defined Not defined
Perpetual existence
Yes Yes No No
Audit Compulsory Compulsory above a
threshold limit
No compulsion No Compulsion
Contribution Minimum 1 Lacs
No minimum threshold
No minimum threshold
No minimum threshold
PERPETUAL FLEXIBILITY
TRUSTNEW
CONCEPTLESS
COSTLY
COMPANY
SIMPLE
PERPETUAL FLEXIBILITY
TRUSTNEW
CONCEPTLESS
COSTLY
LLP
SIMPLE
PERPETUAL FLEXIBILITY
TRUSTNEW
CONCEPTLESS
COSTLY
OPC
SIMPLE
LLP – INR 10 – 15K
Company – INR 15-20K
OPC – INR 12 – 15K
ONE-TIME COSTING *
* This is the indicative costing and vary depending upon various facotrs and price should be consulted with the service provider before awarding contract
LLP – INR 4 – 6K
Company – INR 7 – 10K
OPC – INR 3 – 5K
ANNUAL COMPLIANCE
COSTING *
* This is the indicative costing and vary depending upon various facotrs and business activity and price should be consulted with the service provider before awarding contract
COSTINGPERPETUITYR
ECO
GN
ITIO
N
FLEXIBILIT
Y
BUSINESS OBJECTIVE
TRANSPARENTLIA
BILIT
Y
WE ENDORSE FOR REGISTRATION OF:
COMPANY
!!!
1) Stakeholders....2) Documentation3) Understanding
Equity
sharing
Address of the company
Directors‘Remuneration
CALLS TO BE TAKEN
STEP 2 STEP 3 STEP 4STEP 1
Director Identification
Number
Name approval
Incorporation Application
Certificate
TAT
1 day
TAT
5/7 days
TAT
5/7 days
TAT
1 day
DIN
DOUMENTATION
a) Permanent Account Number (PAN)b) Identity Proof vis-a-vis Bank statement,
Electricity bill, Ration card, Passport etcc) Photographsd) Digital Signaturee) Affidavitf) Application in DIR-3 form with the
Registrar of Companies (ROC)
Name Approval
IncorporationApplication
DIN
Name Approval
Incorproation Application
DOUMENTATION / INFORMATION
a) Proposed name of the Company (atleast 03 name in preference)
b) DIN of all Directorsc) PAN of all shareholdersd) Application in INC-1 with the
Registrar of Companies, ditigially signed
DIN
Name Approval
Incorporation Application
DOUMENTATION / INFORMATION
a) Authority in favour of CS for incorporation of the Company
b) Declaration in INC-9 & 10c) AOA-MOA of the Companyd) Application in INC-7 with the
Registrar of Companies, ditigially signed
Congratulation on registration of the Company
For any further queries / assistance
Legal BuddyManu Grover
Voice:+91-9711008823
Email: [email protected]
