Incorporation means the formation of new Corporation, it can be an organization, Company, Non-Profit Organization etc. Incorporation word is like an umbrella under which all business options are covered. All the Business option which is available under one roof.
When any person wants to start his business he will have many options like One Person Company, Private Limited Company, Partnership Firm, Limited Liability Partnership, Public Limited Company, Proprietorship etc. All above entities have their Advantages and Disadvantages and reason to choose them as per your requirement. A company is an Artificial Person, which is created by individuals with laws which are applicable to it. Once the entity is formed and registered after that it will be considered as a Legal Entity which will be able to make a contract or to enter into Partnership Firm also.
Afleo will help you in all your requirements regarding the Incorporation of Company and other formalities. Our Business advisors will give solutions to all your queries regarding advantages and disadvantages of different types of Companies and help you to take your decisions easily. Afleo.com started with the simple idea that doing business in India should be very easy. Our growing team of young hard working professionals is our biggest asset. Our team puts the consumer first, and work meticulously to ensure that documents are filled correctly and swiftly. Afleo is the market leader with 500+ Company Registration per month and total figures crossing 10000+
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Private Limited Company
Private Limited Company is a legal entity, it is a separate entity. It has to be registered under Companies Act, 2013. One of the Major advantage of Pvt. Ltd. Company is that it is easy to raise funds and loans. Therefore Private Limited Company is overall a good Legal structure for business.
Limited Liability Partnership entities, has been introduced in India by way of Limited Liability Partnership Act, 2008. In LLP, one of the most important benefit is that all partners are not responsible for the misconduct or negligence of another partner. It has less compliance and easy to Incorporate.
Public Limited Company is a type of Company in which shares are issued to the general public which are freely traded. Public limited company should have a minimum paid up capital of Rupees 5 Lakhs, minimum 3 Directors, and minimum number of shareholder should be 7. It can be listed on stock exchange and a large amount of Capital can be raised.
Partnership Firm is a place where two or more person come together for the same business purpose. There is an agreement between the partners in which all the terms and conditions are specified along with profit sharing. Therefore Registration of Partnership deed is compulsory.
Proprietorship is a business of Single person and also known as "Sole Proprietorship." It is the most basic version of Starting a business in India and under Proprietorship it is mandatory to obtain Shop and Establishments License to start and run the business.
The concept of One Person Company was introduced in Companies Act, 2013. It is similar to a Private Limited Company but with a difference that it can be incorporated with only one director. It has all the features of private Limited Company with less Compliance to maintain.