There are whole lot of laws, rules & regulations that have to be taken care of for setting up business in India. We follow well defined service plan supported by the partners of our firm holding rich experience which in turn helps the business enterprenuers, corporate houses, or foreign entities to understand different entry options available to them. Our bunch of services not only include business set up services but also post incorporation services such as maintenance of books of accounts, necessary post incorporation compliances as applicable to the business module adopted by the entrepreneur under Company Law, Foreign Exchange Management Act (FEMA) RBI Rules & Regulations, GST and under Income Tax Act etc
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1. Private Limited Company: A Private Limited Company is a Company limited by shares. It can have maximum 200 (Two Hundred) shareholders and it cannot invite public for subscription of its shares or debentures. Further, the shares of Private Limited Company are not freely transferable under the Companies Act, 2013. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager/Officer of such a Company remains unlimited under certain circumstances. The minimum number of shareholders is 2 (Two)
2. Public Limited Company: A Public Limited Company is a Company limited by shares must have minimum paid-up share capital of Rs. Five Lakh. In this case, there is no restriction on the maximum number of shareholders, transfer of shares and acceptance of public deposits. The liability of each shareholder is limited to the extent of the unpaid amount of the shares face value and the premium thereon in respect of the shares held by him. However, the liability of a Director / Manager/Officer of such a Company remains unlimited under certain circumstances. The minimum number of shareholders is 7 (Seven).
Limited Liability Partnership (LLP) is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name. Further, in LLP, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct. Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
Partnership is defined as a relation between two or more persons who have agreed to share the profit /loss of the business carried on by them or any of them acting for all. The owners of a partnership business are individually known as “partner” and collectively as a “firm”.
Partnership is an appropriate form of ownership for medium sized business involving limited capital. This may include small scale industries, wholesale and retail trade; small service concerns like transport agencies, real estate brokers; professional firms like Chartered Accountants, doctors’ clinic, attorney or law firms etc. A partnership firm may be established by way of writing partnership agreement at appropriate value of stamp paper as may be prescribed under the Act of the state where the Registered Office of the Partnership is situated.
Sole Proprietorship: A sole proprietorship is the oldest and the most common form of business in India. It is a one-man organisation where a single individual owns, manages and controls the business. Creation of Sole Proprietorship does not require any formal agreement or declaration under any law of the country. However, the owner may be required to obtain a license specific to the line of business from the local authorities.
Within the framework of constitution of an entity, the foreign investor or foreign company intents to do business in India, can have following setup: