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At Ronix Legal Advocates & Consultants, we recognize the pivotal role of business formation and registration services in empowering entrepreneurs and fostering economic development. Our firm is committed to providing expert guidance and assistance in navigating the complexities of starting and registering businesses in India.

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  1. Sole Proprietorship: A sole proprietorship is the simplest and most common form of business structure. In this form, a single individual owns and operates the business. It is not a separate legal entity, which means the owner and the business are considered as one. The registration process is relatively straightforward, requiring minimal legal formalities.

  2. Partnership: A partnership is a form of business where two or more individuals come together to carry out a business with a shared goal and mutual understanding. Partnerships can be either registered or unregistered. In an unregistered partnership, the rights and obligations of the partners are governed by the Partnership Act, 1932. In a registered partnership, the partnership firm is registered with the Registrar of Firms by submitting the necessary documents and paying the required fees.

  3. Limited Liability Partnership (LLP): LLP is a hybrid form of business that combines features of both partnerships and companies. It provides limited liability protection to its partners while allowing them to have flexibility in managing the business. LLPs are governed by the Limited Liability Partnership Act, 2008. To start an LLP, partners must file the incorporation documents with the Registrar of Companies (RoC) and comply with other legal requirements.

  4. Private Limited Company: A private limited company is a separate legal entity from its owners (shareholders). It offers limited liability protection to its shareholders, meaning their personal assets are generally protected from the company's debts and liabilities. Private limited companies are governed by the Companies Act, 2013. To establish a private limited company, one must register with the RoC, follow specific incorporation procedures, and comply with ongoing legal obligations.

  5. Public Limited Company: A public limited company is similar to a private limited company, but it can offer shares to the public and is subject to additional regulatory requirements. Public limited companies are also governed by the Companies Act, 2013. The incorporation process for a public limited company involves meeting certain criteria, such as a minimum number of directors, shareholders, and a higher minimum capital requirement.

  6. One Person Company (OPC): OPC is a recent addition to Indian company law. It allows a single individual to start a company and enjoy limited liability protection. OPCs are governed by the Companies Act, 2013. To establish an OPC, the individual must register with the RoC, appoint a nominee, and fulfill other legal requirements.

 

It is important to note that each business structure has its own advantages, disadvantages, and legal compliances. The choice of business structure depends on factors such as the nature of the business, the number of owners, liability protection requirements, capital investment, and growth plans. It is advisable to determine the most suitable business structure for your specific circumstances.

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