Business Registration

PROPRIETORSHIP

It is the oldest, universal, fastest & simplest way to set up a business. The major difference between a sole proprietorship registration and anyother form of business is that the business owner cannot be separated from their business, to set up this form of business,no need to apply for separate PAN card on the firm name, Business owner need to choose a business name apply for Shop Act Registration, UDYAM registration & your business got registered. Other than these two registrations all other registrations like PF, ESIC, PT, FSSAI, GST, IEC, & many others are optional, depending on the nature & volume of the business it can be obtained as & when required. On the basis of these two registrations, you can open a current account on the name of firm at any of the bank.

Documents required for Proprietorship firm registration

(PAN card, Aadhar card, Passport size photo, Electric bill of registered address, Mobile No, Mail ID, Name of the firm, Photo of Name Board of the business, Nature of Business)

Benefit of Proprietorship Business registration

• It’s quick & easy to register
• less expensive
• Minimum Compliances
• Least restriction in Name selection
• Income tax friendly as compared to others

(ONE PERSON COMPANY) OPC

One Person Company is a unique concept introduced by the Ministry of Corporate Affairs in order to encourage the small traders and entrepreneurs. One of the major advantages of an OPC is that there can be only one member in an OPC, where in case of Private Limited Company or a Limited Liability Partnership minimum two persons are required. One Person Company is defined in the Companies Act 2013 as a Company which has only one member. A single shareholder holds 100 percent shareholding. One person can form a company without any additional shareholder, and if the member is willing to add shareholders, all he needs to do some procedural compliances to convert OPC in to a regular private limited company and file it before MCA.

Documents required to Form OPC

(PAN Card, Aadhar Card, passport size photo, Address proof, DSC of the shareholder & a Nominee, electric bill for registered place of business, Mobile No, Mail ID, Name of Business, Nature of Business, Capital contribution & some other personal information of director)

Benefit of OPC

• Distinct Legal entity from owner
• Single Owner & Corporate Business structure

Documents Deliverable on Incorporation of OPC

• Incorporation Certificate
• PAN Registration
• TAN Registration
• MOA & AOA
• DIN for Director
• DSC of Director & Nominee

(LIMITED LIABILITY PARTNERSHIP) LLP

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a Partnership. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner’s misconduct or negligence.

Documents required for LLP firm registration

(PAN Card, Aadhar Card, passport size photo, Address proof, DSC of all the partners, electric bill for registered place of business, Mobile No, Mail ID, Name of Business, Nature of Business, Profit sharing ratio, Capital contribution by each partner & other terms & condition for partnership deed)

Benefit of LLP registration

• Limited liability of each partner
• Easy transfer of ownership
• Benefit of corporate form of business
• Comparatively Easy to raise money