IEC (Import / Export Code)

What is Company Registration?

Company registration is the procedure in which any company files the essential documents with the SEC (Securities and exchange commission). Company registration is the general term for registering your business under the standards of rules and regulations.

Merits of Company Registration

• Wider Legal Capacity a registered company can take legal actions on its own name.
• Easy Closing The closing for a registered company is easy and less troublesome as it does not involve a lot of documentation work.
• Attract Investors As the company is registered it is considered more reliable which therefore attract different investors to invest in the company.
• Growth and Enhancement The registered companies get more opportunities in the market. These companies also enhance their business internationally as there is no requirement for the government approvals for the international investors to invest.
• Protection of Personal Assets Company registration helps in the protection of personal assets of the owners. 0one does not have to be liable for the loans or other credits incurred by the company.

Types of Legal Entity

• Private Limited Company

  

  A private limited company is a privately held business entity held by private stakeholders. They are smaller companies as compared to public limited companies. It is a very suitable form for carrying on the small business of family and small concerns as the minimum number of members required for a private limited company is only two. These companies do not seek funds from the public rather they operate on their own financial resources.

• Limited Liability Limited Company

  

  As the name suggests this type of partnership has limited liability on all partners and flexibility in partnership. In limited liability partnership each partner is responsible for their own misconduct. The limited liability partnership can continue its business irrespective of the changing status of partners and hold different properties in its own name.

• One Person Company

  

  The Companies act 2013 absolutely revolutionized company legal guidelines in India by introducing numerous new principles that did no longer exist previously. This was the creation of the OPC (One person company) concept. A man or a woman corporation (OPC) defines a corporation constituted with one person (one) as a member, in assessment of the usual exercise of getting a minimum number of members.

• Sole Proprietorship Company

  

  As the name suggests proprietor means a single person so if an individual wants to start a business he/she can register for a proprietorship firm. Sole proprietorship additionally called a sole dealer or a proprietorship in which there is only one proprietor who will pay non-public profits tax on income earned from the commercial enterprise. A sole proprietorship is the perfect form of commercial enterprise to set up due to the absence of presidency regulations.

• Partnership Company

  

  This type of business is built through a formal agreement between two or more partners. The main motive of this formal agreement is to get the partners to agree to the point to be the co-owners, distribution of responsibilities for running this organization and sharing of income and losses incurred to the enterprise.