Congratulations on successfully registering your company in India! The journey to becoming a legitimate business entity is a significant milestone. However, the work doesn’t stop
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Recently, in an appeal before the Hon’ble Supreme Court, the court held that a company secretary must verify that the company complies with the rules
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Startup in India provides us opportunities to explore ourselves. Starting any business is not a everyone’s cup of tea”. Various startups have followed some rules
Company registration in Patna is a good idea for any new business owner because this city’s economy is growing at the fifth-fastest rate in the country, at 3.72% per year. Since 2005, the economy has grown steadily, especially in the fast-moving consumer goods (FMCG) and service sectors. Patna is a major center for agriculture and trade. It exports grain, sugarcane, and sesame, among other things.
Patna is a city in the northern Indian state of Bihar. As with starting a business or a company, the decision by an entrepreneur requires careful strategic, business, and legal planning. Starting a business or a company here will lead to great success and financial gains.
In India, there are a total of seven different categories of company registration. It can be challenging to select the appropriate type of company registration due to the abundance of alternatives.
5. One Person Company
6. Sole Proprietorship
7. Section 8 Company
LLP is a relatively new corporate structure in which business assets are distinct from personal assets and provide the highest level of limited liability protection. In this business, the ability of the partners to pay their debts depends on how much share capital they have.
To start a limited liability partnership (LLP), you need at least one partner from this country and a minimum capital of Rs 1,000,000.
Documents Required For Limited Liability Partnership Company Registration In Patna
The Process For Registering A Limited Liability Partnership Company In Patna
Finally, the partner has 60 days from the date of receipt of this letter to send the documents. You have 30 days from the time you get the registration certificate to apply for the partnership agreement.
One-person company registration is a relatively new addition to the Indian market. The majority of sole proprietorships and small enterprises choose this type of registration. Under this registration, the proprietors receive liability protection, so no partnerships are required.
Since one person is in charge of everything in the business, it is easy to maintain, manage, and run. In essence, it is a combination of a sole proprietorship and a limited liability company. The minimum capital required to qualify for this registration is Rs. 1,000,000. If you are in the finance industry, you do not qualify for an OPC registration. Additionally, the individual must be a citizen of India.
Documents Required For One-Person Company Registration In Patna
The Process For Registering One Person Company In Patna
A sole proprietorship is simply a business run by a single person. In most sole proprietorship businesses, the owner is personally liable for all profits and losses. It is a sole proprietorship that is relatively simple to establish. This registration is preferred by those who work from home or manage one-person businesses from their homes.
Documents Required for Sole Proprietorship Company Registration In Patna
The Process For Registering a Sole Proprietorship Company In Patna
If your annual revenue exceeds Rs. 20,000, you must register for GST.
Most people refer to these businesses as “NGOs,” or “non-profit organizations,” because they actively participate in charitable activities. These businesses’ main goals are to promote the arts, science, and education to protect the environment and aid the less fortunate.
A minimum of two shareholders and directors are required to register as a non-profit organization. Commonly, stockholders will act as directors. It does not require start-up funding, as do other businesses. The corporation must have an Indian address for registration, and at least one of the directors must be a resident of India.
Documents Required For Section 8 Company Registration In Patna
The Process For Registering a Section 8 Company In Patna
All of the processes listed above are requirements for Patna company registration. Please note that the methods listed above are simply an overview, and the process may vary based on the particulars of your business and the state’s legislation. Before beginning the process, we recommend you visit a professional or the local ROC office to ensure you have all the relevant paperwork and information.
ALONIKA is the best alternative for beginning a business in India. Our team of CAs, CSs, and lawyers in the business world has years of experience in corporate law, finance, and taxation. The company also has a lot of young, active professionals. This mix of experience and youth is what makes Alonika successful.