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Sole Proprietorship
The simplest form of business organization, owned and operated by a single individual. This structure offers complete control to the owner, who retains all profits and makes all business decisions. One of its primary advantages is ease of setup and minimal regulatory requirements, making it an ideal choice for small businesses and freelancers.
However, proprietors face unlimited liability, meaning personal assets may be at risk if the business incurs debt or legal issues. This business model is common in various sectors, including retail, consulting, and services, due to its straightforward nature and flexibility.
Documents for Sole Proprietorship
- Aadhar
- PAN
- Shop Registration (Form F & B)
- MSME Certificate
Partnership Firm
A partnership firm is a business structure where two or more individuals collaborate to operate a business and share its profits and losses. Partnerships are typically governed by a partnership agreement, which outlines each partner's roles, responsibilities, and profit-sharing ratios.
This structure allows for pooling of resources, skills, and expertise, making it easier to raise capital and manage operations collectively.While partnerships benefit from shared decision-making and reduced individual liability compared to sole proprietorships, partners still face joint liability for the firm’s debts. This makes effective communication and trust between partners essential for success.
Partnerships are commonly found in professional services, such as law firms, accounting practices, and various small businesses.
Documents for Partnership Firm
- Aadhar of partners
- PAN of partners
- FORM A & C (Partnership Registration)
- MSME Certificate
Limited Liability Partnership
A Limited Liability Partnership (LLP) in India is a hybrid business structure that combines the advantages of both a partnership and a corporation.
It offers limited liability protection to its partners, meaning their personal assets are safeguarded from the debts and obligations of the LLP.
Formed under the Limited Liability Partnership Act of 2008, an LLP requires at least two partners and can have unlimited partners. Unlike traditional partnerships, partners in an LLP are not personally liable for each other's misconduct or negligence, fostering a more secure investment environment.
LLPs are popular among professionals and small businesses due to their flexibility in management and fewer compliance requirements compared to corporations.
Documents for LLP
- DSC for all designated partners
- DIN for each designated partner
- LLP agreement
- Form 2 (Incorporation Document)
- Identity Proof of Partners
- PAN of Partners
Private Limited Company
A Private Limited Company (Pvt Ltd) in India is a popular business structure characterized by limited liability for its shareholders, meaning their personal assets are protected from the company's debts. It requires a minimum of two and a maximum of 200 shareholders, and its shares cannot be publicly traded.
Governed by the Companies Act of 2013, a Pvt Ltd company must have a unique name, a registered office, and at least two directors. This structure offers greater credibility, access to funding, and potential tax benefits, making it an attractive option for small to medium-sized enterprises.
Additionally, it allows for easier transfer of shares and continuity of existence, even if ownership changes.
Documents for Private Limited Company
- Aadhar card of Directors
- PAN card of directors
- Passport Size photo
- 6 Month personal Bank statement
- Mobile Numbers and Email ids
- Education Qualification
- Address Proof of companies address (Utility Bill)
- Rent / Lease agreement (if rented / leased)
- Digital Signatures
- Digital Signatures- 2 Proposed Names for Company
Public Limited Company
A Public Limited Company (PLC) in India is a business structure that allows for the sale of shares to the public through a stock exchange.
It requires a minimum of seven members to start and can have an unlimited number of shareholders. PLCs in India must comply with the Companies Act, 2013, which mandates stringent regulations regarding financial disclosures, corporate governance, and transparency.
This structure provides limited liability protection to its shareholders, meaning they are only liable for the company's debts to the extent of their investment. PLCs are ideal for businesses aiming to raise substantial capital for growth and expansion.
Documents for Public Limited Company
- Aadhar card of Director and Nominee
- PAN card of director and Nominee
- Passport Size photo
- 6 Month personal Bank statement
- Mobile Numbers and Email ids
- Education Qualification
- Address Proof of companies address (Utility Bill)
- Rent / Lease agreement (if rented / leased)
- Digital Signatures
- Digital Signatures- 2 Proposed Names for Company
One Person Company
A One Person Company (OPC) in India is a unique business structure that allows a single individual to establish and operate a company with limited liability.
Introduced under the Companies Act, 2013, it enables entrepreneurs to have full control over their business while enjoying the benefits of a corporate entity.
An OPC requires a minimum of one director and one member, and it must comply with specific regulatory requirements, including annual filings.
This structure is ideal for sole proprietors looking to scale their operations while protecting personal assets from business liabilities.
Documents for One Person Company
- Aadhar card of Directors
- PAN card of directors
- Passport Size photo
- 6 Month personal Bank statement
- Mobile Numbers and Email ids
- Education Qualification
- Address Proof of companies address (Utility Bill)
- Rent / Lease agreement (if rented / leased)
- Digital Signatures
- Digital Signatures- 2 Proposed Names for Company
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