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"Are you ready to start your business? You must have ticked all the tasks in to-do-list from brainstorming, planning and executing every task. Now what remains is how to register a company in India, and don’t worry you’ll get your answers here. Company registration is one of the most important tasks for starting a long-lasting business, it not only acts as a nod from the government itself but also establishes you as a trustworthy organization in the public eye.
There are around 1.51 million registered companies in India as of 2023, this itself shows how crucial it is for businesses to be registered under the law. However, there are certain steps that need to be followed in order to get your company registration in India. Here in this article, you’ll get to know how to register a company in India and all the details related to it.
Choose Your Business Structure
To register a company in India, select the appropriate business structure. It should align with your company’s objectives. Let’s see the different business structures to choose from for Indian company registration:
1. Proprietorship
A sole proprietorship is a company run and owned by one person.
It is a dangerous choice for larger enterprises.
This is because it provides total power, freedom, and infinite responsibility.
2. Partnership
A company owned and run by two or more partners is called a partnership firm.
It allows for shared responsibility and control. But, restricts financial availability. And, raises the possibility of partnership disagreements.
3. Limited Liability Partnership (LLP)
This hybrid business structure combines the advantages of corporations and partnerships.
It provides its partners with limited liability protection.
It also provides simpler access to financial sources.
4. Private Limited Company
An independent legal organization that is run and owned by shareholders.
It provides its stockholders with limited liability protection. Plus, credibility in the eyes of clients and investors. Also simpler access to funding options.
5. One Person Company (OPC)
This is a company structure created for a single person.
This provides credibility, limited liability protection, and simpler access to funding options."