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Setting up business in India
India has shown significant improvement in creating a conducive environment for business operations. As for setting up a business in India, there are various entry options for foreign investors, such as a Private Limited Company, Limited Company, Limited Liability Partnership, Branch Office, liaison office, etc. Recent amendments by SEBI aim to streamline the regulatory framework for foreign portfolio investors. It is still required that at least one of the Directors/Partners be a resident of India. Worldbiz Solutions has the local expertise to guide you through these options and navigate the complexities involved.
Registration of Company/LLP Types of Companies
Private Limited Company
Private Limited Company is the most prevalent and popular type of corporate legal entity for businesses in India. It can be registered with a minimum of two shareholders and two directors. An individual can serve as both a director and a shareholder, whereas a corporate legal entity can only be a shareholder. Additionally, foreign nationals, foreign corporate entities, or NRIs are permitted to be Directors and/or Shareholders in a company with Foreign Direct Investment, making it the preferred choice for foreign promoters.
Registration of Company/LLP Types of Companies
- Flexible with limited liability for shareholders
- Recognized as a separate legal entity
- Ensures perpetual existence
- Allows for greater capital contribution and stability
- Facilitates growth and expansion
- Can own property
Get in touch with us to know more about private limited company registration and business start-ups.
Public Limited Company
Public Limited Company is the second most prevalent and popular type of corporate legal entity for businesses in India. It can be registered with a minimum of seven shareholders and three directors. An individual can serve as both a director and a shareholder, whereas a corporate legal entity can only be a shareholder. Additionally, foreign nationals, foreign corporate entities, or NRIs are permitted to be Directors and/or Shareholders in a company with Foreign Direct Investment.
Features of a Public Limited Company
- Limited liability for owners and management
- Easy transfer of ownership
- Recognized as a separate legal entity
- Ensures perpetual existence
- Adheres to stringent regulatory requirements
- Greater borrowing capacity
- Allows for greater capital contribution and stability
Schedule an appointment to learn more about Limited Liability Partnership registration and business start-ups.
One Person Company (OPC)
The concept of a One Person Company (OPC) was introduced to facilitate entrepreneurs capable of starting a venture by allowing them to create a single-person entity for business in India.
Features of a One Person Company
- Only one member is required to create an OPC
- Recognized as a separate legal entity
- Limited liability for the owner
- Must nominate a director in the Memorandum of Association (MOA) and Articles of Association (AOA)
- Must be converted into a Private Limited Company if paid up capital exceeds fifty lakhs or turnover exceeds Rs. 2 Crore.
Schedule an appointment to learn more about Limited Liability Partnership registration and business start-ups.
Limited Liability Partnership (LLP)
The main advantage of a Limited Liability Partnership (LLP) over a traditional partnership firm is that in an LLP, the liability of partners is limited, similar to that of shareholders in a private limited company. However, unlike shareholders in a private limited company, the partners of an LLP have the right to manage the business directly.
Features of a Limited Liability Partnership
- Limited liability for owners
- Easy transfer of ownership
- Recognized as a separate legal entity
- Ability to own property
Schedule an appointment to learn more about One Person Company (OPC) registration and business start-ups.
Other Registration
It is a unique alpha-numeric identifier comprising 10 characters, issued to individuals, families, and corporations (both Indian and foreign) who are liable to pay Income Tax. This identifier is assigned to all entities recognized under the Indian Income Tax Act, 1961.
It is a 10-digit number issued to individuals or entities obligated to deduct or collect tax on payments made under the provisions of the Indian Income Tax Act, 1961.
GST represents the largest tax reform in India, constituting an indirect tax applied to the supply of goods and services. Under this new regime, all entities engaged in buying, selling goods, or providing services must register for GST.
It is required for persons importing or exporting goods and services from India.
It is another name for pension fund. Its purpose is to provide employees with lump sum payments at the time of exit from their place of employment.
The Employee’s State Insurance (ESI) is a self-financing social security and health insurance scheme for Indian workers. An 17-digit unique identification code is issued during ESI registration.
Before commencing any food business, it is mandatory to obtain the necessary approvals and registrations, regardless of the format, including manufacturing, production, import, export, procurement, storage, distribution, and sales.
Government of India Support Enterprises coming under MSME Categories through various subsidies, schemes and incentives. To avail these benefits, Enterprises needs to take the registration of MSME under MSMED Act.
Trade Licence permits a company to carry on the business or trade activities in a particular municipal limit for which it is issued