start-up
(for Resident Indian Citizens only. )₹19,000/Pre Monthly
- Name Reservation
- Company Registration
- Stamp Duty
- 1 Digital Signatures
- 1 Director Identification Numbers
- MOA and AOA
- PAN and TAN
- GST Registration
- PF and ESI Registrations
- Certificate of Commencement of Business
- Bank Account Opening Support
start-up+
(for Resident Indian Citizens only. )₹25,000/Pre Monthly
- Name Reservation
- Company Registration
- Stamp Duty
- 1 Digital Signatures
- 1 Director Identification Numbers
- MOA and AOA
- PAN and TAN
- GST Registration
- PF and ESI Registrations
- Certificate of Commencement of Business
- Bank Account Opening Support
- Start-Up India Registration
When we possess a unique idea and ample resources to initiate a company, with the intention of retaining sole control over profits, opting for One Person Company (OPC) Registration emerges as the preferable choice. The introduction of the One Person Company (OPC) concept in India under the Companies Act of 2013 marked a significant milestone by simplifying legal formalities. This initiative aimed at promoting the corporatization of micro and small businesses, alleviating the burden on small entrepreneurs who would otherwise expend excessive time, energy, and resources on intricate legal processes. Consequently, this not only contributed to economic development but also fostered the creation of new employment opportunities.
Indian residents, specifically Indian nationals, can pursue One Person Company (OPC) Registration, and existing sole proprietorship businesses can undergo the process to convert into an OPC. The One Person Company serves as an incredibly convenient form of business entity, particularly for individuals unable to find a suitable partner or those who prefer not to share their business ideas and profits. Despite being in its early stages in India, the concept of OPC enjoys widespread recognition.
The One Person Company concept holds a positive future for small traders, entrepreneurs with low risk taking capacity, artisans and other service providers. The One Person Company (OPC) would act as a launch pad for such entrepreneurs to showcase their capabilities in the global arena. After One Person Company (OPC) Registration, it will get a legal personality unlike a Proprietorship and is registered under the Companies Act and is governed by the Company Law/Corporate Law. It has a separate identity but different from the owner of the One Person Company (OPC). Since a One Person Company (OPC) assumes its own personality, the rights and duties of a One Person Company (OPC) are different from those enjoyed by the Owners of the One Person Company (OPC). The shareholder of a One Person Company (OPC) is not its proprietors, but mere suppliers of capital. One Person Company (OPC) can sue and be sued on its own name.
Benefits of One Person Company (OPC) Registration
After One Person Company (OPC) Registration, there is provision for conversion to other types of legal entities by induction of more members and amendment in the Memorandum of Association. So in future if the One Person Company needs more support, it will be eassier. There is no need to chasnge the name at that time, because the name is already registered with Registrar of Companies.
A partnership firm is a business entity where two or more individuals agree to share the profits and losses of a business carried on by all or any one of them acting for all.
Registration of a partnership firm is not mandatory but is advisable. An unregistered firm cannot enforce its rights in a court of law.
A partnership deed is a written agreement among the partners that outlines the rights, duties, profits, and liabilities of each partner.
A partnership at will is one where no fixed duration for the partnership is specified, and it can be dissolved by any partner by giving notice to the others.
A partner can transfer his share to an outsider only with the consent of all other partners, unless the partnership deed provides otherwise.
A partnership firm is not a separate legal entity from its partners, while a company is a separate legal entity. Also, partners have unlimited liability, whereas shareholders of a company have limited liability.
A partnership firm can be dissolved by mutual consent of all partners, by notice in the case of a partnership at will, by insolvency or death of a partner, or by a court order
The firm may either be dissolved or continue with the remaining partners, depending on the terms of the partnership deed.
A minor cannot become a partner but can be admitted to the benefits of a partnership with the consent of all partners.
A partnership at will is one where no fixed duration for the partnership is specified, and it can be dissolved by any partner by giving notice to the others
A partnership firm is taxed as a separate entity under the Income Tax Act, 1961. The profits are taxed at the firm level, and partners are also taxed on the income they receive from the firm.
As per the Companies Act, 2013, the maximum number of partners allowed in a partnership firm is 50.
Yes, a partnership firm can be converted into a private limited company or an LLP (Limited Liability Partnership) under the provisions of relevant laws.
Benifits
Benefits of Private Limited Company Registration
All Benefits of a Private Limited Company
One Person Company is basically a Private Limited Company. It gives the individual entrepreneurs all the benefits of a company, which means they will get credit, bank loans, access to market, limited liability, and legal protection available to companies by virtue of acquiring the legal status and perpetuity.
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