Company registration in Kasaragod
Important concept of budding a business venture lies mainly on choosing the accurate and relevant business structure. The ideal business structure will pave your enterprise to operate efficiently and eventually will met your required and needed business targets. Before we learn the ways to initiate a company let’s try and understand the minimum registration needs and different business structures in Kasaragod, Kerala.
Minimum requirements for Company Registration in Kasaragod
- Minimum 2 share holders
- Minimum 2 Directors
- The directors and shareholders can be the same person
- Base Share Capital shall be Rs. 100,000 (One Lakh Indian Rupees Only)
Let’s try and grasp the various types of business structures available in Kasaragod.
Private Limited Company
A private limited company is an independent lawful business form which is different from the people who runs it. A private limited company has eternal sequence and its own assets and liabilities, surplus and losses. The liabilities are surrounded to the company – in other words, the owners are shielded from financial liability. This is clearly different from that of a sole proprietorship or partnership firm, where the assets and liabilities of the business belong to the individuals.
Phases involved in Private Limited Company Registration in Kasaragod
Phase 1:Company Name Reservation Application
Phase 2: DSC (Digital Signature) of two directors
Phase 3: Application for Certificate of Incorporation by granting the Final Documentation (like AOA, MOA, Consent Letters, and Business Address Proof etc.) including application for DIN, PAN & TAN.
Timeline
It needs 15 to 20 working days (approx.) to finish Private Limited Company Registration process.
What we provide you for Private Limited Company Registration
- DSC (Digital Signature) of two Directors
- DIN (Directors Identification Number)
- Declaration of AOA (Articles of Association) & MOA (Memorandum of Association)
- Feedback to queries raised by ROC department
- Government Fees
- Payment of Stamp Duty and Registration Fees
- Our Professional Fees
- Certificate of Incorporation
- PAN Application of Company
- TAN Application of Company (TAN – Tax Deduction Account Number)
- Support to open a Bank Account
- ISO certified Team of Corp Roots Pvt Ltd
- Tax Consultation for Free
LLP is the latest corporate form that merges the flexibility of a partnership firm and the benefits of limited liability of a company with lesser compliance. The minimum limit of partners required to form an LLP is 2. There is no upper limit on the number of partners of LLP.
Among the partners, there should be at least two nominated partners who shall be individuals, and at least one of them should be resident in India. The rights and responsibilities of proposed partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of the LLP Act 2008 and provisions described in LLP agreement.
Documents Needed
- PAN Card/ ID Proof of the Partners
- Address Proof of the partners
- Residence Proof of Partners
- Photograph
- Passport (in case of Foreign Nationals/ NRIs)
- Proof of Registered Office Address
- Digital Signature Certificate
Steps for Process of Registration as LLP in Kasaragod, Kerala
- Obtain DSC
- DIN Application
- Name Approval
- Incorporation of LLP
- File LLP Agreement
Timeline
It needs 15 to 20 working days (approx.) to finalize the LLP Company Registration process.
- One Person Company
The One Person Company (commonly known as OPC) is the type of firm that is owned by a single person. It allows one person to possess and also manage the entire business procedures. The OPC as a business form is proposed to administer the proprietorship businesses and assist in an organized way. This is the structure which provides the benefits of corporate structure to those who want no partition to business ownership can go forward with OPC company registration.
- Registration cost
The cost for forming of One Person Company is much lower than the cost of formation of a Private Limited Company.
· Number of persons required to incorporate
To form a-one Person Company, two-person are needed: The Director and Nominee Director.
· Board of Directors
There is no idea of the Board of Directors in a One-Person Company as the entity can be managed by a single person. The idea of Annual General Meeting and Board Meetings is also not relevant for a One-Person Company. The complete percent shares of a One Person Company can be held by a sole person.
· NRI or foreign nationals
Only Indian Citizens and Indian Nationals are authorized to establish a One Person Company.
· Compliance requirements
One Person Company is needed to file their annual returns with the Ministry of Corporate Affairs and their Income Tax Returns with the Income Tax Department. One Person is also needed to get their account audited each year.
· Restrictions
A-One Person Company must be converted mandatory into a Private Limited Company if the annual sales turnover exceeds Rs.2.00 crores or the paid-up capital of the One Person Company exceeds Rs.50 lakhs.
Corproots Consultants will help your one person company registration by providing expert assistance and ideas and expertise.
A partnership company is really not a different entity distinct from its members. It is simply a collective name given to the individuals forming it. Hence, unlike a company which has a distinct legal entity separating from its members, a company cannot own property or employ employees, neither it can be a borrower or a lender. It cannot appeal or be appealed by others.
Proprietorship company
A sole proprietorship is a type of unregistered business entity that is controlled, managed and regulated by one person. Sole proprietorship is the most familiar type of business in Kerala and it is used by most micro and small businesses functioning in the unorganized sectors.
Proprietorship are simple to initiate and have minimal regulatory compliance obligations for functioning. This form is perfect for entrepreneurs who are involving into business for the debut time and for small business with few clients.
CORPROOTS CONSULTANTS will aid with any form of your company registration in Kasaragod by giving expert opinions and ideas and expertise.
About Us
Hope you loved reading this article. At framemycompany, we continuously endeavor to strengthen Indian businesses. With us you can register any form of MSME company you like, make GST bills, track inventory, manage expenditures, and even file GST returns. CORPROOTS will assist with any form of your company formation by providing expert suggestions, concepts and expertise.
Finally why are you hesitating to bud your dream venture in Kasaragod, Kerala?