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Give Legal Identification to your Business Start a New Company with Bizlegal

Are you thinking of starting your own business? Bizegal is the ultimate platform for you in order to start your business.

Business Registration

Bizlegal USP's -

Have an idea to start a business in India, don't wait we at Bizlegal provide startup-friendly services, following are our USP's:

  • Register your startup in just 7 days

  • Simple and online documentation

  • Transparent and reasonable pricing as compared to 75% of law firms

  • Always available for clarifying doubts and solving problems

  • Smooth serving without any hassles. 

Company Registration

Starting up a business independently is everyone’s dream. Here’s how you can achieve your dream and turn it into reality by starting up your own business in India. The first step is to get your company registered in India. The process of company registration in India is very simple. By incorporation of your company, you can start your business in a legal manner where you are not only provided a framework of growth, but also the assistance from the government.

Company registration is a process in which the business is given a proper legal framework and is incorporated within the MCA(Ministry of Corporate Affairs) in India in accordance with the provisions of the Companies Act 2013. Its entire process is now done online.

 

                                                                    Process of Company Registration 

The process of online company registration involves the following steps:

  1. Gathering and collations of documents like PAN, Aadhaar, mobile bills, etc..

  2. Applying for and obtaining the Digital Signature Certificate

  3. Applying for and obtaining the Director Identification Number

  4. Filing the application to get the name of the company approved.

  5. Drafting the MOA and the AOA.

  6. Filing the application to register a company online.

  7. Getting the company incorporation number (CIN) once the application is processed.

 

The procedural requirements of company name registration might seem trivial enough to be handled by a mere layman. However, there are many intricate legal requirements to register a new company online that requires the aid of the experts. These legal requirements are as follows:

  1. Collecting and organizing the documents.

  2. Applying for the Digital Signature Certificate.

  3. Digital certifying the documents.

  4. Precisely drafting the Memorandum and Articles of Association.

  5. Filing the application of business registration online.

  6. Obtaining and forwarding the Certificate of Incorporation.

In order to make it simple for you to register your company without any unnecessary hassles, you require the right experts to provide guidance to you and handhold you to provide you the best company incorporation services.

This is where Bizlegal comes into the picture. Bizlegal.in is an all-legal service provider for start-ups. They provide complete company incorporation services in India and provide complete support to budding entrepreneurs and startups to move in the right direction, legally. Each and every service is optimized to get accurate results and all the services are provided at the most affordable company incorporation fees that you can hope for.

So reach out to our experts as soon as possible and realize your dream of becoming your own boss by starting your own company.

Forms of Business you may Choose 

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

LLP Registration - Limited Liability Partnership is an advancement over the traditional partnership firms, with some characteristic features of a company, as a limited liability. It lacks the potential to grow and is not preferred for funding.

Partnership Firm Registration - 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.

Sole-Proprietorship - It is for small businesses 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.

OPC Registration - 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.

NGO Registration - For a social, welfare, educational or charitable activity, you may start a company under section 8 of the Companies Act, 2013 or form a trust or incorporated society. After choosing the kind of entity, you may get it registered as a Non-Governmental Organisation.

The individuals wanting to have their own startup get baffled as to which structure is most suitable for them. For such individuals who are confused about the same, here is a crisp distinction between the three structures to provide some clarity:

Company Registration

Basis

Partnership Firm Registration

LLP Registration

Is a separate legal entity.

Number of Members / Partners

In case of One Person Co. – 1 ;

In case of Private Company- 2 (Min.) and 200 (Max.); and

In case of Public Company- 7 (Min. ) and unlimited (Max.)

Minimum 2 and Maximum 20

Minimum 2 partners and there is no limitation of maximum number of partners.

Separate Legal Entity

Not a separate legal entity.

Exists as per the will of the partners. Does not enjoy perpetual succession.

Is a separate legal entity.

Perpetual Succession (Uninterrupted Existence)

Enjoys the benefit of perpetual succession, members may come and go but the Company exists.

Enjoys perpetual succession, partners may come and go, but the LLP exists.

Cost of Formation

High

Low

High

Property Ownership

A company being a juristic person, can acquire, own, enjoy and alienate, property in its own name. No shareholder can make any claim upon the property of the company so long as the company is a going concern.

Partners are the joint owners of the properties and assets of the Partnership.

The LLP exists independently of its partners and therefore, has the ownership of properties and assets in its own name.

Requirement for registration

Mandatory

Optional

Mandatory

Creation

Created by law

Created by agreement or contract.

Created by law and by agreement.

Charter Document

Memorandum and Articles of Association are the Charter Documents

The Partnership Deed is the charter and the sole governing document of the partnership firm

The LLP Agreement is the charter of the LLP which denotes its scope of operation and rights and duties of the partners vis-à-vis LLP

Foreign Participation

Foreign nationals can become members of a company.

Foreign nationals cannot form partnership firm in India.

Foreign nationals can be partners in an LLP.

Investment Magnet

Highest traction for investment.

Lowest traction for investment.

Lowest traction for investment.

Liability

Generally limited to the amount required to be paid up on each share.

Unlimited. Partners are severally and jointly liable for actions of other partners and the firm and liability extend to their personal assets.

Limited, to the extent their contribution towards LLP, except in case of intentional fraud or wrongful act of omission or commission by the partner.

Creditworthiness

Due to Stringent Compliance's under various laws, Companies enjoys high degree of creditworthiness.

Creditworthiness of firm depends upon goodwill and creditworthiness of its partners

Enjoys comparatively higher creditworthiness from Partnership due to stringent regulatory norms, but lesser than a company.

Level of Compliances

High

Low

High

After getting some clarity on the fundamentals of each structure, one may analyze their requirements and further may obtain professional advice for choosing the best suitable structure as per your requirements.

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