There are a few good the actual reason why it makes ample sense to Register One Person Company in India Online your company. The first basic reason is preserve one's own interests and is not risk personal assets to the point of facing bankruptcy in case your business faces a crisis and is forced to seal down. Secondly, it is easier 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 maybe limited firm. (These are terms which have been described later on). Another valid reason is, any time a limited company, 1 wishes managed their shares to another it's easier when enterprise is enrolled.
Very there's always a dilemma as to when a lot more claims should be registered. The solution to which is, primarily, when your business idea is sufficiently good to be converted to a profitable business or not solely. And if the answer to that is a confident too resounding yes, then it's the perfect time for in order to go ahead and register the international. And as mentioned earlier on it will be beneficial to write it as a preventive measure, before damaging saddled with liabilities.
Depending upon the size and type of corporation and like you would want to be expanded it, your startup could be registered as one of the many legal formats of the structure in a company accessible to you.
So let me first fill you in with needed information. The different company structures available are:
a) Sole Proprietorship. Would you company managed or run by only individual. No registration it will take. This is the method in order to if for you to do it on your own and the objective of establishing the organization is gain a short-term goal. But this puts you subject to losing your entire personal assets should misfortune strike.
b) Partnership firm. Is owned and operated or run by at least two a lot more than two individuals. In the a Partnership firm, as laws aren't as stringent as that involving Ltd. Company, (limited company) it demands a involving trust between the partners. But similar to a proprietorship there could risk of losing personal assets in any eventuality.
c) OPC is single Person Company in that this company can be a separate legal entity which usually effect protects the owner from being personally accountable for any loss.
d) Limited Liability Partnership (LLP), whereas the general partners have limited liability. LLP combines the very best of partnership firm and a corporation and the partners are not personally prone to lose their personal holdings.
e) Limited Company which is of 2 types,
i) Public Limited Company where minimal number of members needed are 7 and there isn't any upper limit; the regarding directors end up being at least 3 and
ii) Private Limited Company where minimal number of people needed are 7 having a maximum upper limit of 45. The number of directors must be 2.