How many persons are required to start a proprietary concern? A sole-proprietorship concern shall be set up by an Individual. If more than one person wants to start a business, they have to choose among other options such as partnership firm, limited liability partnership (LLP) or a company. Where …Read More »
How to start a private limited company
Mr. Mahesh an IT professional along with his colleague Mr. Bhupathi visited our office seeking our services in setting up a private limited company. Though they had read (in internet) about setting up a company, they wanted to know the entire process from us. When I asked, they said “The …Read More »
Setting up a partnership firm
One of the oldest (and time tested) form of business entity is Partnership firms. If two or more people agree to carry on a business they can look at setting up firm rather than private limited company. The maximum number of partners can’t exceed 20 people. It is easy to …Read More »
How to set up new business?
To set up new business one has to register under various Acts. For our easy understanding, we can divide setting up process into two broad categories, namely Entity registration Business registration In this article, we will discuss about Entity registration. Entity registration means setting up a structure or type of …Read More »
Is setting up proprietary concern a bad idea?
Proprietary Concerns Mr. Samarth, a young boy came to our office to know about the procedure of setting up a company for him. He wanted to serve as a freelancer to a US company in the software industry. When I asked him, he said he has no plans of joining …Read More »
Corporate Status to proprietary concern – a new initiative in India
Corporate Status to proprietary concern – a new initiative in India Hitherto if an Individual wanted to start a company, there was no choice but to set up a proprietary concern. The new initiative of One Person Company (OPC) gives a corporate status to proprietors! OPC is introduced by the …Read More »
Naming ceremony of your Dream Company! Name approval Guidelines
Can you keep any name of your choice to your dream venture (private limited company or limited liability partnership firm)? Yes; provided you follow name approval guidelines and the name is approved by the Registrar of Companies (ROC), the registering authority in India. In this article, we have made a modest …Read More »
Even One Person can start a company now – a new concept ‘One Person Company’
With the introduction of The Companies Act, 2013 only one person can start a company and such companies are known as ‘One Person Company’ (OPC). Basically it is giving legal corporate status of Proprietorship form of doing business. In order to make the company as a going concern, the Act made …Read More »