Question 1

Company Registration

Accepted Answer

A Private Limited Company is the most preferred form of business for Startup India, It is easy to incorporate and manage. Angel investor and any other long-term investor insist on a Company for making the investment.

Question 2

LLP Registration

Accepted Answer

Limited Liability Partnership is an advancement over the traditional partnership firms, with some characteristic features of a company, like limited liability. The process of incorporation of the LLP is complicated and at the same time it lacks potential to grow and is not preferred for funding.

Question 3

OPC Registration

Accepted Answer

Now you can form a company with just one person as shareholder and director. You need another person to become your nominee. However, an OPC needs to convert as a private/public company in case its capital crosses 50 Lacs, and the turnover exceeds 2 Crores.

Question 4

Partnership

Accepted Answer

An old form of business, traditionally it's not widespread and relevant. You can start a partnership firm by just signing a partnership deed. Even its registration is not mandatory, however, is necessary as an unregistered firm can not recover beyond Rs. 100 from its debtors.

Question 5

Section 8 Company

Accepted Answer

For a social, welfare, educational or charitable activity, you may start a company under section 8 of the Companies Act, 2013. Being an incorporated entity, it enjoys more credibility as a form of Non-Governmental Organisation in comparison to traditional forms such as society or trust.

Question 6

Sole-Proprietorship

Accepted Answer

It is for small business with a low budget, like small shops may open their store as a proprietorship concern. It's a one-person show where all profits and loss goes to the proprietor alone. Proprietorship business cannot be registered as such. However, all other registration may apply.

>Trust Registration

> Society Registration

> Shop & Establishment Registration

> MSME Registration

> Import Export Code

> FSSAI License

> GST Registration

> Drug License

>Trust Registration

> Society Registration

> Shop & Establishment Registration

> MSME Registration

> Import Export Code

> FSSAI License

> GST Registration

> Drug License

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