Limited Liability Partnership-A Brief Overview

 

business into llp

The Limited liability partnership is defined as the form of business that offers the benefits of limited liability and flexibility of a partnership firm.  With the formation of LLP, no single partner can be held liable for any other member of the partnership. Also this form of business prevents any harm on the personal assets of partners, in case of a debt or loss in the company.

A LLP firm can be constituted by a minimum of two people with no maximum limit. But at least one of the partners has to be of Indian nationality. For commencing the business of the LLP, the company needs to do LLP registration under the Ministry of Corporate Affairs, as per the guidelines of the Limited Liability Partnership Act, 2008. It provides a legal agreement that governs the rights, duties, and responsibilities of all the partners, to follow all the provisions of the given Act.

Provided below are some prominent reasons to ConvertBusiness to LLP:

•         It provides a separate legal entity for the firm like private companies.
•       It limits the liability of partners to the contribution of the partner.
•      The cost of formation of an LLP is very low.
•       It provides less compliance and easy regulations.
•      It does not require any minimum capital contribution.

 

COMPANY REGISTRATION

Email: Contact@Company-Registration.in

Call/Whatsapp: 8800100284

Website:www(dot)company-registration(dot)in/

Address: S-191C, Manak Complex, School Block, Shakarpur

New Delhi, Delhi 110092 

Brief Discussion on One Person Company Advantages in India!

The one person company form of business involves the ownership of only one person and that person himself is the shareholder and director. This form of business requires very less capital investment and the profit earned is completely of the owner. This company type was introduced under the Company Act, 2013 for helping the small businessmen and entrepreneurs. 

Advantages

OPC registration has numerous advantages over other small company types, which makes it a feasible option for new business owners. Some of the one person company advantages are provided below:

• The OPC registration provides a separate legal identity to the company. It can have succession and can get funding or loans as an individual person.
• This form of company has limited liability. Hence, in situation of loss the person assets of the owner will not be forfeited. It also states that the responsibility of the owner is only upto the shares he has in the company.
• The OPC has a direct contract with the shareholders or directors. Hence, with numerous remunerations for the director, the company can avail tax benefits.
• Under the OPC registration, the company owner comprises the power to make all decisions and executing them. This makes the work faster and assists in business growth.
• OPC is a popular form of business and large organization prefer to deal with them. Hence the company obtains a corporate status in society and a structured way of working.

Thus, as stated above there are multiple advantages of one person company registration in India. The business owners can take assistance of legal firms for swift and flawless application, which would accelerate the process of receiving certification.

Company Registration In India

Email: Contact@Company-Registration.in

Call/Whatsapp: 8800100284

Website:www(dot)company-registration(dot)in

Address:S-191C, Manak Complex, School Block, Shakarpur,New Delhi, Delhi 110092

Convert Pvt Ltd Company into OPC in India for Premium Benefits!

convert pvt into one person company

A private limited company can be changed into a one person company under the given circumstances:

The capital of the company is less than Rs. 50 lakhs.

The annual turnover of the company is less than Rs. 2 Cr. for the past three progressive financial years.

Advantages of converting private limited company into one person company:

The conversion from private limited to opc has numerous advantages. It makes the business proceedings less complex and leads to lesser compliance. The reasons to convert pvt ltd company into opc in india are:

1. The OPC holds a separate legal status and it can have any number of directors and only one shareholder.
2. It has a limited liability for the shareholder depending upon the number of unpaid shares.
3. This is a very organized form of business.
4. It has least amount of compliance than any other form of business. It does not need convening annual general meeting.
5. In OPC all the decisive power is in the hand of only one person which leads to fast decisions.
6. There are tax deductions in Income tax and other tax benefits with OPC.
7. It allows direct access to markets without and discussion or involvement of middlemen.

Hence, conversion of private limited company to one person company is advisable for companies falling in the mentioned criteria. It will assist in the business growth and increased profits.

COMPANY REGISTRATION
Email: Contact@Company-Registration.in
Call/Whatsapp: 8800100284
Website:www(dot)company-registration(dot)in/
Address: S-191C, Manak Complex, School Block, Shakarpur
New Delhi, Delhi 110092

Precise details of OPC Registration Procedure in India!

OPC registration in India

OPC or one Person Company is a encourgaging move by the Company Act 2013. It has revolutionized the system of doing business, as reduced the burden on business owners for needing at least 2 directors and members to constitute a private company and a minimum of 3 Directors and 7 members for a public company.

Complete Process of Online MSME Registration in India

With the presentation of the MSME act in 2006, it has completely changed the business development in India.The Medium and Small businesses establishment is now easier and it has offered employment to large number of people in form of jobs in these small industries.

Know Briefly How To Register A Trademark In Delhi!

Delhi online trademark 

The trademark of a company is a unique mark used to create a separate identity of the products or services of a company.

Partnership Firm Registration in Delhi – A Brief Introduction

partnership firm registration

A partnership firm is defined as an company created by a two or more persons, with the agreement to share profits or losses in the business. They are highly recommended for small and medium businesses in India.