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WWW.LEGALRAASTA.COMLLP VS PVT. LTD. VS OPC VS PARTNERSHIP VS PROPRIETORSHIPHi, In this video the Legalraasta team will teach our all about the LLP VS PVT. LTD. VS OPC VS PARTNERSHIP VS PROPRIETORSHIP its definition, minimum requirement and advantages.

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TYPES OF BUSINESS FORMATIONTYPES OF BUSINESS FORMATIONIf you are new to business and unable to decide whether to be asole proprietoror inpartnershipor be in partnership but with limited liability (LLP)or opt to start as aprivate companyor be theone person companywith all theadvantage of private company, then it is better to have a quick glance at each of the five concepts and the difference between them. The decision must be taken keeping in mind the investment, size of business, no. of members and the risk taking the ability of the promoter. Below is the list of differences betweenProprietorship,Partnership,LLP,Pvt. Ltd CompanyandOPCare as follows:TYPES OF BUSINESS FORMATIONIf you are new to business and unable to decide whether to be asole proprietoror inpartnershipor be in partnership but with limited liability (LLP)or opt to start as aprivate companyor be theone person companywith all theadvantage of private company, then it is better to have a quick glance at each of the five concepts and the difference between them. The decision must be taken keeping in mind the investment, size of business, no. of members and the risk taking the ability of the promoter. Below is the list of differences betweenProprietorship,Partnership,LLP,Pvt. Ltd CompanyandOPCare as follows:

Minimum RequirementsMinimum Requirements for Company RegistrationMinimum Requirements for Company RegistrationProprietorshipNo formalregistration for Proprietorship.PartnershipRegistration is optional.Registered underPartnership Act, 1932.Limited Liability PartnershipRegistered withMinistry of Corporate Affairs.Registered underLimited Liability Partnership Act, 2008.Private Limited CompanyRegistered withMinistry of Corporate Affairs.Registered underCompanies Act, 2013.One Person CompanyRegistered withMinistry of Corporate Affairs.Registered underCompanies Act, 2013.

NAME OF THE ENTITYName of the EntityName of the EntityProprietorshipOwners choice of names can be named.No approval is requiredPartnershipOwners choice of names can be named.No approval is requiredLimited Liability PartnershipName must not be illegal, offensive, identical or similar to existing company or registered trademark.Name must be approved by theRegistrar of Company (ROC).Private Limited CompanyName must not be illegal, offensive, identical or similar to existing company or registered trademark.Name must be approved byRegistrar of Company (ROC).One Person CompanyName must not be illegal, offensive, identical or similar to existing company or registered trademark.Name must be approved byRegistrar of Company (ROC).

LEGAL STATUS OF ENTITY

Legal Status of EntityProprietorshipNot considered as a separate legal entityPartnershipNot considered as a separate legal entityLimited Liability PartnershipConsidered as a separate legal entity.Private Limited CompanyConsidered as a separate legal entityOne Person CompanyConsidered as a separate legal entity

Legal Status of Entity

members liabilityMember's LiabilityMember's LiabilityProprietorshipUnlimited liabilityResponsible for all the liabilities of businessPartnershipUnlimited liabilityResponsible for all the liabilities of partnershipLimited Liability PartnershipLimited LiabilityLiable to the extent of shares/amount invested in the LLPPrivate Limited CompanyLimited LiabilityLiable to the extent of share capital of the companyOne Person CompanyLimited LiabilityLiable to the extent of share capital/capital invested in the company

MINIMUM NO. OF MEMBERSMinimum No. of MembersMinimum No. of MembersProprietorshipCan have only 1 memberPartnershipAt least 2 personare requiredLimited Liability PartnershipAt least 2 persons are requiredPrivate Limited CompanyAt least 2 persons are requiredOne Person CompanyAt least 2 persons are required (Director and Nominee Director

MAXIMUM NUMBER OF MEMBERSMaximum Number of MembersMaximum Number of MembersProprietorshipCan have only 1 memberPartnershipMaximum 20 people can be partnersLimited Liability PartnershipCan have unlimited no. of membersPrivate Limited CompanyMaximum 200 people can be membersOne Person CompanyMaximum 2 people (Director and Nominee Director)

REGISTRATION COSTRegistration CostRegistration CostProprietorshipOnline companies like LegalRaasta offer Registrationat an all-inclusive price of Rs.2,999/-PartnershipOnline companies like LegalRaasta offer Registrationat an all-inclusive price of Rs. 2,199/Limited Liability PartnershipOnline companies like LegalRaasta offer Registrationat an all-inclusive price of Rs.7,999/Private Limited CompanyOnline companies like LegalRaasta offerRegistrationat an all-inclusive price of Rs.13,999/One Person CompanyOnline companies like LegalRaasta offer Registrationat an all-inclusive price of Rs.12,499/

About LegalRaasta and TeamAbout usWe are committed to helping you grow your business and add value through our expertise. We aim to deliver a hassle-free experience so that you can focus on your core business.

Our mission is to offer affordable, quick and automated professional services to clients. Through technology, we bring numerous government/ legal forms at one place and have simplified them to be fully understood by common man. Legalraasta.com is a one destination for your legal matters relating to:Forming any type of business entity (e.g., Pvt. Ltd Co, LLP etc)Filing individual and company returnHelping on company compliances such as ROC filings & minutesProtecting work through trademark & copyrightOur teamLegalRaasta.com has been founded by a team of Chartered Accountants and professional advisors. We currently have a network of 100+ professionals including experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers and Bankers.Pulkit Jain, founder of Legalraasta, has over 5+years experience in CA and Legal domain. He has worked with the top CA firms in India and has served large corporate and MNCs

Legalraasta.com is Indias top destination for legal & company matters . We can help you in Forming any type of business entity (Example Private. Limited Company, LLP), filing individual and company return, Helping companies for their compliances such as ROC filings & minutes, protecting work through trademark & copyright.

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Why Choose UsCost effectiveBusinesses are always under intense time and cost pressures. With our great packages 40% savings are ensured compared to typical CA/ LawyerExpertiseBy teaming up with us , you will have an access to network of 100+ experts. You can gain the peace of mind in knowing that your accounting tasks are done properly by qualified, experienced and knowledgeable professionals in the field.Easy Online ProcessYou dont have to deal with the typical headaches involved with face to face meeting and visiting government offices. Our process is 100% online. Fill out simple forms and you are done!!Trusted We are a trustworthy partner which has been serving startups & companies for past several years. Our growth numbers stand as a testimony: 200+ clients100+ services30+ testimonials

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We are a trusted partner with multiple top level expertise and affiliation, and yet cost effective.

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