In India, every business must register themselves as part of the mandatory legal compliance, Like Proprietorship, LLP, OPC, Pvt Ltd or Public Limited.
Picking the right company structure for your business is as important as any other business-related activity. The right business structure will allow your enterprise to operate efficiently and meet your required business targets. In India, every business must register themselves as part of the mandatory legal compliance. Before we learn how to register a company, let’s try and understand the types of business structures in India. For More Details, please call to us, our representative will explain everything to help you to take good decision about company Incorporation.
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According to the Companies Act, 2013, a Company is an association of people which is formed and registered under this Act or any previous company laws. A company is a separate legal entity which is different from its shareholders. It is an important feature of Company that there is a difference between people who have control over the affairs of a Company and the people who actually own it. Different types of Companies are as follow: => Private Limited Company => Public Limited Company => Limited Liability Company => Unlimited Liability Company => Non-Profit Organizations (which are also known as Sec 8 Companies)
Here are the various types of companies you can register in India: => One Person Company (OPC) => Private Limited Company => Public Limited Company => Limited Liability Partnership (LLP) => Non-Profit Organizations (Sec. 8 Companies)
MOA stands for Memorandum of Association whereas AOA means Articles of Association. Both these documents act as important source of information for various shareholders and other stakeholders associated with a Company. MOA reveals the name, aims, objectives, registered office address, clause regarding limited liability, minimum paid up capital and share capital of a Company. In short, it explains the relationship of a Company with outside world. AOAs are the necessary documents to be submitted when the company is incorporated with the registrar of Companies (ROC). When AOAs are in conjunction with the MOA, they are called the Constitution of the Company.
DSC stands for Digital Signature certificate. DSC is the digital equivalence of physical papers or certificates. It is needed to file the form electronically with the concerned department. For the purpose of Company Registration of a private company, DSC for one of the Directors is required.
DIN, Directors Identification Number, is actually an identification number issued to a Director or a prospective Director of a Company by the Ministry of Corporate Affairs, Government of India. The concept of DIN was introduced for the first time when Sections 266A and 266G were inserted in Companies Act. To obtain a DIN, one needs to make an online application to the Ministry of Corporate Affairs and submit the required documents related to Identity and Address Proof. Once the Ministry verifies these documents, the DIN will be allotted to the person.
The concept of One Person Company is the new vehicle of doing business introduced by the Companies Act, 2013. The old Companies Act, 1956, required at least two directors and shareholders to form a private limited company. In OPC, there is only one person who will act in the capacity of a Director and a shareholder as well. Such type of a company is formed as a Private Limited Company.
Yes. You must appoint a director for your new company. Your UK limited company must have at least one director over the age of 16. Directors are legally responsible for running the company, filing accounts and submitting official paperwork. Another company can also be a director, but at least one of your directors must be a person.
A Private Limited Company has a minimum of two members and two Directors. Maximum number of members that a Private Limited Company can have is 50. Total capital of such a company is formed with shares and every shareholder is a partner. Directors of a Pvt Limited Company should meet at regular intervals and all its transactions should be audited. The name of such a company ends with the words 'Private Limited'.