Company registration consultants in India
Registering a company in India involves several steps and requires specific documents and criteria to be fulfilled. There are also various types of company formations to choose from, each with its own advantages. Here's an overview of the process, documents, criteria, and advantages of different company formations in India:
Types of Company Formations in India:
Private Limited Company:
- Minimum 2 and maximum 200 shareholders.
- Limited liability protection to shareholders.
- Separate legal entity from its owners.
- Greater access to funding and investors.
- Suitable for small to medium-sized businesses.
Public Limited Company:
- Minimum 7 shareholders (no maximum limit).
- Shares can be traded on the stock exchange.
- Higher regulatory requirements compared to private companies.
- Ideal for large businesses planning to go public.
One Person Company (OPC):
- Only one shareholder and director is required.
- Limited liability protection.
- Suitable for sole proprietors looking for limited liability status.
Limited Liability Partnership (LLP):
- Combines features of both a company and a partnership.
- Limited liability protection for partners.
- Less complex compliance compared to companies.
- Suitable for professional services firms, startups, and small businesses.
Documents Required for Company Registration:
Director/Shareholder Documents:
- Identity proof (PAN card, Aadhaar card, Passport, etc.).
- Address proof (bank statement, utility bill, etc.).
- Passport-sized photographs.
Registered Office Proof:
- Rental agreement or sale deed.
- Utility bill (electricity, water, gas, etc.).
Company Name Approval:
- Proposed company names (up to 2) in order of preference.
- Names should not be similar to existing companies and should comply with naming guidelines.
Memorandum of Association (MoA) and Articles of Association (AoA):
- MoA specifies the company's objectives.
- AoA outlines the company's rules and regulations.
DIN (Director Identification Number) for Directors:
- Obtained by filing Form DIR-3 online.
Criteria and Advantages:
Private Limited Company:
- Minimum 2 directors and shareholders.
- Limited liability protection.
- Easy transferability of shares.
- Better access to funding and investors.
- Separate legal entity.
Public Limited Company:
- Minimum 3 directors and 7 shareholders.
- Shares can be listed on stock exchanges.
- Attracts public investment.
- High compliance requirements.
One Person Company (OPC):
- Only one shareholder and director.
- Limited liability protection.
- Separate legal entity.
Limited Liability Partnership (LLP):
- Minimum 2 partners (no maximum limit).
- Limited liability protection.
- Less complex compliance.
- Flexible management structure.
Remember that the specific requirements and processes may vary and it's advisable to consult with a legal or financial professional or visit the official website of the Ministry of Corporate Affairs in India for the most up-to-date and accurate information.
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