• We offer swift company incorporation, typically within a week upon receiving all required documents, pending government approvals.
• Post incorporation, adherence to annual compliances is essential.
• The initial step in starting a company involves obtaining digital signatures for subscribers, followed by submitting a company approval application.
A Limited Liability Partnership (LLP) is a business structure that combines the flexibility of a partnership with the limited liability feature of a corporation.
Legal Structure: An LLP is a separate legal entity distinct from its partners.
Limited Liability: The personal assets of the partners are protected, and their liability is limited to the amount they contribute to the LLP.
Perpetual Succession: The LLP continues to exist despite changes in its partners, ensuring continuity.
Minimum and Maximum Partners: An LLP must have a minimum of two partners, and there is no maximum limit, providing flexibility for small and large businesses.
Flexible Management: Partners have the freedom to manage the LLP directly or delegate authority, promoting operational adaptability.
No Owner's Personal Property at Risk: Personal assets of partners are not at risk for business debts or liabilities.
Partnership firm registration is the formal process of legally documenting a business entity formed by two or more individuals who agree to manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed.
• Voluntary Association: A partnership is a voluntary association of individuals who come together for a common business purpose.
• Formation: It is formed by drafting and signing a Partnership Deed, outlining the terms and conditions of the partnership.
• Number of Partners: A partnership can have a minimum of two partners and a maximum of twenty partners, except in the case of a banking business where the maximum limit is ten partners.
• Liability: Partners have unlimited personal liability for the debts and obligations of the firm.
• Decision-Making: Partners collectively make decisions, and their roles and responsibilities are defined in the Partnership Deed.
• Transfer of Ownership: Unlike companies, transferring ownership in a partnership is more complex, often requiring the consent of all partners.
• Sole proprietorship, the oldest form of business, is essentially a one-person operation where the business is fully managed by an individual known as the sole proprietor.
• This type of business lacks a separate legal entity and typically doesn't require formal registration.
• Ideal for small or medium-scale ventures, sole proprietorship grants the proprietor full control, enabling quick decision-making and the freedom to conduct business as desired.
• Notably, the proprietor retains all profits without having to adhere to the regulations of a separate proprietorship act, making it a straightforward choice for those seeking autonomy in their business endeavors.
A Nidhi Company, a type of Non-Banking Financial Company (NBFC), is established to cultivate a savings culture among its members and exclusively provide financial services within the membership. Unlike traditional NBFCs, a Nidhi Company is permitted to take loans only from its members and lend exclusively to them. It is restricted from accepting deposits or lending to non-members.
A distinctive feature is that a Nidhi Company does not require a license from the Reserve Bank of India (RBI). It is registered as a public limited company, mandated to include 'Nidhi Limited' in its name.
With a minimum of 3 directors and 7 shareholders, there is no specific capital limit for formation, but it must meet the criterion of having a net owned fund of 10 lakhs, achievable by incorporating with a capital of Rs. 10 lakhs.
To ensure financial stability, a Nidhi Company must have a minimum of 200 shareholders and fulfil other requirements within one year of incorporation. Failure to meet these compliance standards within the stipulated time may necessitate the refund of deposits to members. Additionally, Nidhi Companies are restricted from issuing preference shares.
NBFC registration refers to the formal process through which a company obtains approval from the regulatory authority, typically the Reserve Bank of India (RBI), to operate as a Non-Banking Financial Company.
Regulatory Approval: NBFCs need to obtain approval from the Reserve Bank of India (RBI) to operate legally and function as financial intermediaries.
Financial Intermediaries: NBFCs engage in financial activities such as lending, investments, and other specified financial services, excluding traditional banking activities.
Net Owned Funds: NBFCs must maintain a certain level of Net Owned Funds (NOF) to ensure financial stability, which is a key criterion for registration.
Corporate Structure: NBFCs can operate as companies and are regulated under the Companies Act, 2013, with specific provisions applicable to NBFCs.
Restricted Banking Functions: Unlike banks, NBFCs are restricted from accepting demand deposits and issuing checks but can provide various other financial services.
Minimum Capital Requirements: NBFCs are required to have a minimum level of capital to ensure financial soundness, and this requirement may vary based on the type of NBFC.
A Section 8 Company, as per the Companies Act in India, is a type of non-profit organization that is formed for promoting commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, or any other charitable purpose.
Non-Profit Nature: Section 8 Companies are established for promoting charitable or not-for-profit objectives, and any income generated is applied toward the promotion of these objectives.
Restrictions on Dividends: Section 8 Companies are prohibited from distributing dividends among their members, ensuring that any surplus or profit is utilized for furthering the company's objectives.
Minimum Members and Directors: To register a Section 8 Company, a minimum of three directors and members are required, providing flexibility for smaller charitable organizations.
Government Approval: A Section 8 Company needs approval from the Central Government, and the registration process involves a more stringent scrutiny to ensure compliance with non-profit objectives and legal requirements.
Trust registration involves the formal process of establishing a trust, a legal entity created for the purpose of managing and administering assets for the benefit of specified individuals or causes. Here are six key features of trust registration:
Legal Entity: A trust is a separate legal entity from its founders or trustees, which means it can hold assets, enter into contracts, and sue or be sued in its own name.
Trust Deed: The formation of a trust requires a trust deed, a legal document that outlines the trust's objectives, details of trustees, and the beneficiaries' rights and entitlements.
Irrevocable Nature: Trusts are often irrevocable, meaning the terms of the trust cannot be easily altered or revoked once it is established, providing stability and security for beneficiaries.
Beneficiaries: Trusts are created to benefit specific individuals, groups, or causes known as beneficiaries, and the trust deed defines how the trust's assets are to be managed for their well-being.
Trustees: The trust is managed by trustees who are appointed as per the trust deed, responsible for administering the trust in accordance with its objectives and ensuring fiduciary duties are upheld.
Charitable Trusts: Trusts can also be established for charitable purposes, and when registered as a charitable trust, they may receive certain tax benefits and exemptions based on the jurisdiction's regulations.
