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To make a clear choice between different business structures, it is best for an entrepreneur to talk to a business consultant who will guide you on different business models which will help in incorporating the business in the right legal structure and cost effective manner.
Let our experts assist you in choosing the best structure for your dream business today!
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At the time of your retirement, you can sell your business and redeem its value.
Members are in a position to encash the shares at any time as they will.
In spite of any changes in members of the company, the company will be the same entity with the same privileges, immunities, estate, and possessions.
When a company is incorporated, it is considered more reliable; hence it shall be easy to obtain capital i.e. either equity or debt.
The company has autonomy and independence to form its own policies and further, implement them. However, they are subject to the general principles of law, equity and a good conscience.
As a separate legal entity, an incorporated company has the right to sue other people in addition to companies. In turn, it can be sued by other companies and people.
A company is capable of attracting professional managers. It is due to the fact that being attached to the management of the company gives them the status of business or executive class.
MSME sector has consistently registered higher growth rate compared to the overall industrial sector and is emerging as a dynamic and vibrant sector of economy.
We offer quick services for getting your business registered as a MSME.
Digital Signature Certificates (DSC) are the digital substitute (i.e. electronic format) of physical or paper certificates that proves as a source to authenticate the identity of the signer of a document or the sender of a message, and also assure that the original content of the document or statement that has been sent is unchanged.
Hence, a digital certificate is also presented electronically to ensure one’s identity to access information or services or to sign particular documents which are done digitally.
DIN or Director Identification Number is an 8-digit unique identification number, which is allotted by the Central Government to each Individual who is an existing director of a company or who intends to become a director of any company. Director Identification Number (DIN) was introduced in India under the Companies Amendment Act, 2006.
An allotted DIN has lifetime validity until cancelled, surrendered or deactivated and is always mentioned underneath the signature of the Directors under essential documents, information letter or report to be submitted under any law.
IEC stands for Import and Export code. It is a 10 digit number which has a lifetime validity. The IEC certificate is granted by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. One cannot import without first getting themselves registered for the IEC certificate. Even exporters can only take advantage of customs, export promotion and DGFT benefits if they have the IEC certificate.
ESIC is designed in such a way that it provides socio-economic security for the employees as well as their dependents. Our experts at ICI can help your establishment register under ESI, prepare ESI workings and file returns through our easy to follow virtual processes.
Employee Provident fund (EPF) is a social security fund run by the government to provide financial support to the employee community at the time of retirement. Register your employees under the provident fund organisation & make your organization PF compliant with the help of our experts & easy online processes.
Permanent Account Number also known as PAN is a ten-digit number in alphabetical and numerical terms, or in alphanumeric; terms, that is allocated by the income tax department to all taxpayers and is unique with each individual. A PAN helps the authorities keep track of the financial activities, as PAN is integral to all forms of payments.
Although the PAN application is voluntary, quoting PAN is mandatory while entering into any financial transaction exceeding the specified limits set by the Income Tax Department.
ESI is designed in such a way that it provides socio-economic security for the employees as well as their dependents. Our experts at ICI can help your establishment register under ESI, prepare ESI workings and file returns through our easy to follow virtual processes.
Yes but subject to conditions specified under different forms of business structure
Yes, business registration is compulsory for all types of business entities except sole proprietorship and partnership firm for whom registration is not mandatory. However, it is advisable to register to avail legal advantage in the eyes of law in case of disputes.
The process to set up a business entity in India is generally the same, regardless of the specific entity structure you select. This process typically involves:
Only the stated entities qualify as a “Startup” for the purpose of Government schemes:-
» Private Limited Company
» Registered Partnership Firm
» Limited Liability Partnership
Further conditions are:
1. Not more than 5 years have passed from the date of its incorporation/ registration.
2. Turnover for any of the financial years has not exceeded ₹ 25 crore.
3. It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
A Sole proprietorship can be converted into:-
A Partnership Firm can be converted into:-
One Person Company can be converted into:-
A Private Limited Company can be converted into:-
In case you are looking to raise equity capital or offer ESOP to your employees in the future, Private Limited Company will be the best suited entity for you. However, if you do not wish to raise equity capital or offer ESOP to the employees, you can opt for a Limited Liability Partnership or a simple Partnership depending on the financial liability or the nature of the business.