There are a couple of good some reasons why it makes ample sense to Register One Person Company in India Online your company. The first basic reason is to safeguard one's own interests but not risk personal belongings to the aim of facing bankruptcy in case your business faces an emergency and also is forced to seal down. Secondly, it is much simpler to attract VC funding as VCs are assured of protection if this company is opted. It provides tax benefits to the entrepreneur typically in a partnership, an LLP or a limited firm. (These are terms which have been described later on). Another valid reason is, just in case a limited company, 1 wishes to transfer their shares to another it's easier when the company is authorized.
Very almost always there is a dilemma as to when the corporate should be registered. The answer to which is, primarily, when your business idea is sufficiently good to be converted into a profitable business or not solely. And if the answer to that is a confident which has a resounding yes, then it's time for one to go ahead and register the international. And as mentioned earlier on it will be beneficial to make it work as a preventive measure, before you will be saddled with liabilities.
Depending upon the type and size of corporation and how i want to be expanded it, your startup can be registered as one of the many legal formats for this structure on the company available.
So allow me to first fill you in with needed information. The various company structures available are:
a) Sole Proprietorship. Of your company managed or run by 1 individual. No registration is needed. This is the method to if for you to do it all by yourself and the goal of establishing vehicle is to realize a short-term goal. But this puts you at risk of losing all your personal assets should misfortune strike.
b) Partnership firm. Is owned and operated or run by at least two or more than two individuals. You should a Partnership firm, as laws are not as stringent as that involving Ltd. Company, (limited company) it requires a lot of trust within partners. But similar the proprietorship there is a risk of losing personal belongings in any eventuality.
c) OPC is single Person Company in that this company is often a separate legal entity which in effect protects the owner from being personally accountable for any obligations.
d) Limited Liability Partnership (LLP), while general partners have limited liability. LLP combines the very best of partnership firm and an organisation and the partners are not personally liable to lose their personal power.
e) Limited Company will be of 2 types,
i) Public Limited Company where the minimum number of members needed are 7 and there's no upper limit; the regarding directors must be at least 3 and
ii) Private Limited Company where the minimum number of people needed are 7 having a maximum upper limit of 45. The number of directors must be 2.