info@legalfriend.in
Select your business type and get all the assistance needed with our highly qualified professionals at LegalFriend.
There is a single person who manages the entire business operation. All income from the business is added to the owner’s account for taxation purposes. There is no complex rule or accounting.
One person company is the newly introduced type of company in the companies Act, 2013. It was introduced to support entrepreneurs by allowing them to create a single person entity. Ideal to build trust and safeguard risks.
In Partnership firms, all business transactions and operations are handled by partners. The roles, responsibilities, and number of shares for each partner are clearly defined in the legal partnership deed.
Private Limited Company is the most popular type of corporate legal entity in India. It has a restricted number of members and cannot offer its shares to the public. Most Investors and Financial Institutes prefer Pvt. Ltd. Company.
Limited Liability Structured Company (LLP) is a separate legal entity from its founders, formed by at least two partners out of which one must be an Indian resident. Very popular with upcoming entrepreneurs.
In a Public Limited Company, shares can be traded publicly. The company requires a minimum of 3 directors and 7 shareholders. There is no limit on the number of shares. Ideal for business with high turnover.