WE offer Incorporation / Formation Services for different types of entities including companies, partnership firms, Limited Liability Partnerships (LLP) etc. We provide various major legal and secretarial services at the pre and post incorporation stage. Our incorporation services include:
Obtaining Director’s Identification Number (DIN) for Directors
Seeking availability of Name of the Company – search and name approval
Obtaining Digital signatures
Drafting of Memorandum and Articles of Association
Support for document Notarisation, Legalisation, Attestations and Filing with Registrar of Companies.
Follow up with regulatory authorities till receipt of certificate of Incorporation
Support for Bank Account & Registered Office
FDI related compliance
Incorporation offers certain advantages to a company as compared with all other kinds of business organizations.
INDEPENDENT CORPORATE EXISTENCE: The main characteristic of a company is its independent corporate existence from its management and members. A company is an independent legal person.
LIMITED LIABILITY: The company, being a separate legal entity, leading its own business life, the members are not liable for its debts. The liability of members is limited by shares; each member is bound to pay the nominal value of shares held by them and his liability ends there.
PERPETUAL SUCCESSION: Company’s existence does depend upon existence of its members and hence enjoys a perpetual succession.
ADVANTAGE OF ASSETS:. The company is capable of holding and enjoying assets in its own name. No members, not even all the members, can claim ownership of any of the company’s assets.
CORPORATE TAX ADVANTAGE: As the companies are taxed separately from their owners, and the corporate tax rate is generally lower than the individual tax rate, incorporation may offer some fiscal advantages.
GREATER ACCESS TO CAPITAL: It is often easier for companies to raise money than it is for other forms of business.Companies may be able to borrow money at lower rates than those paid by other types of businesses, simply because financial institutions tend to see loans to companies as less risky than those given to other forms of enterprise.
BRAND BUILDING: Branding consists of the name, symbol, term, sign, design or any combination of these that identify the goods and services of the company. It differentiates the Company form of organisation from others. Branding is the visual voice of the company.
STRUCTURE: The activities of the company must be carried out by individuals who have an interest in the corporation and are entitled to act on its behalf. These individuals can be divided into three categories:
Limited Liability Partnership or LLP as it is popularly known is the worldwide recognized form of business organization. It has now been introduced in India by way of Limited Liability Partnership Act, 2009. A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization.
LLPs also have many advantages over Proprietorships, Partnerships and Limited Companies, as elaborated below.
The cost of registering LLP is low as compared to cost of incorporating a private limited or a public limited company. Also the compliances are lesser as compared to Company form of organisation.
No requirement of minimum capital contribution, hence the structure can be incorporated even with nominal amount of capital.
An LLP requires a minimum 2 partners while there is no limit on the maximum number of partners. However at least 1 Designated Partner should be Indian resident.
All limited companies, whether private or public, irrespective of their share capital, are required to get their accounts audited. Whereas in case of LLP, financial audit is mandatory only in following circumstances :
The contributions of the LLP exceeds Rs. 25 Lakhs, or
The annual turnover of the LLP exceeds Rs. 40 Lakhs
This is perceived to be a significant compliance benefit
Every year, there are about 8 to 10 regulatory formalities and compliances are required to be duly completed and submitted by a Private limited company whereas a Limited Liability Partnership is required to file only two, namely, the Annual Return & Statement of Accounts and Solvency
Taxation Aspect on LLP is far simpler as compared to Limited Companies. For the purpose Income Tax, LLP is treated on a par with partnership firms. Thus, LLP is liable for payment of income tax and share of its partners in LLP is not liable to tax. Thus no dividend distribution tax is payable.
We provide entire gamut of services pertaining to LLPs as follows
Obtaining DIN and Digital signatures for Partners,
Seeking availability of desired Name of LLP
Incorporation of Limited Liability Partnership (LLP) Firm.,
Drafting and vetting of LLP Agreements.
Conversion of company or partnership firm into Limited Liability Partnership Firms or vice-versa.
Annual Compliances and Filling of returns, statement of account or obtaining of Designated Partner Identification Number (DPIN) etc.