There is no such mandatory compliance specified under the Act to get company registration done. However, to run a long-term profitable business it is always beneficial to get your company registered under the specified authority. Also, registration of a company give huge number of benefits that are necessary to run a good business in the coming years.
In the modern era, registered companies are increasing as it enjoys various benefits. Along with it, not only the registered companies but also numerous types of entities.
The existing types of entity are:-
- Sole proprietorship
- One Person Company (OPC)
- Partnership
- Private Limited Company
- Public Limited Company
- Limited Liability Partnership
Under Sole proprietorship, an individual can run his business easily without sharing of profits with nay other person.
Under One Person Company, an individual can execute a business while also enjoying the benefits of a company.
In Partnership, two of the individuals who will be known as partners can run a sole business together and diving the profits and losses equally or as decided in the agreement.
Private Limited Company, is a company consisting of minimum of 2 members and maximum of 200 members.
Public Limited Company is formed with a minimum of 7 people and no limited on maximum members. It is company whose shares are listed on stock market.
We at EAdvisors advise you to register you company with us, as there are good reasons that proves why registering a company is a good option.
Why Company registration is considered a good option?
- Company registration allows in secure funding, as registration of a company facilitates the funding process well and attracts more potential investors. It is also observed that banks and financial institutions prefer to dun registered entities only rather than unregistered ones.
- It represents limited liability protections to the promoters as they are not liable to pay for the business loses. So, promoters feel safe while working with the registered company.
- To make your business big and well-known, you will be requiring registration that proves the business is running lawfully.
Getting your company registered has now become easy with large number of professionals in the industry
