Proprietorship is the easiest business entity under which an individual can run a business. Sole proprietorship is referred to an individual who owns the business and is generally responsible for its debts.
If you want to have full control over your business with limited liabilities, then OPC is the best choice to start with. But ensure that you convert your business structure (within six months) to the private limited company after crossing an average turnover of 2 crores over three consecutive years or has a paid-up capital of over 50 lakhs.
When two or more people agree to do business together and both might be from same family or same association. Once partners are engaged in a business, each partner is personally liable for the actions of that business, including the obligations of the other partners There are no shields against personal liability.
If you don’t want to take responsibility or liability for another partner's misconduct, incompetence or negligence and also want to limit your liabilities for the debt and losses. If you want to enjoy tax benefits, then LLP might be the best option to go with. It’s the most flexible type of business structure to start with.
It’s the most renowned legal structure for business. The financial liability of the shareholders is limited to the their shares in case of any defaults, bankruptcy and/or any suits or recovery by banks/creditors. This simply means that personal assets of the sahreholders are kept seperate from the Company itself. Private limited company has more credibility as compared to other business structures available.
A public limited business structure is great for long run but has more regulatory requirements. Apart from all the advantages of private limited company, It has the ability to have any number of members, ease in transfer of shareholding and more transparency. A public company is a company that has sold all or a portion of itself to the public through an initial public offering (IPO).
Foreign business can begin a business in India in various ways like a delivery center, branch office. Indian Subsidiary shall be subject to the similar set of policy which applies to any other Indian company. Almost every sector is open for Foreign Investment in India, and the company incorporation can be done through an unusual route.
A company or a body corporate having any object like production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit is called as Producer Company.
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