Service Details:
Minimum Order Quantity | 1 Piece |
Service Location | ALL INDIA |
Additional Information:
Service Details:
Minimum Order Quantity | 1 Piece |
Service Location | all india |
It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of Companies Act, 2013. The main business of such a company is to facilitate lending money between the core members of the company. This way members (or shareholders) are encouraged to save money and invest them within the company. These deposits are then used by the company for its members (or shareholders), to provide loans or advances, and to acquire government-issued stocks/bonds/debentures/securities. It is regulated by the Ministry of Corporate Affairs, while the RBI monitors all its financial dealings.
Benefits of a Nidhi Company
Cheaper To Borrow:As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.
Encourages Savings:It encourages all its members to save money and encourages a thrifty lifestyle.A Nidhi registration, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.
At least seven members are mandatory to form a Nidhi registration. Out of these, three should be designated as the directors. However, it should acquire a minimum of 200 members within one year of commencement.
Moreover, the company should have a minimum equity share capital of Rs 5 lakhs, for nidhi company registration process. This entire amount has to be paid up. However, the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of Nidhi Registration.
a.At least 10% of its outstanding deposits should comprise of un-encumbered term deposits.
b.The prescribed NOF to deposits ratio should be 1:20.
This includes equity share capital and free reserves and excludes accumulated losses as well as intangible assets.
At least 10% of its outstanding deposits should comprise of un-encumbered term deposits
The prescribed NOF to deposits ratio should be 1:20. where 10% of the total deposits are in a fixed deposit account of a nationalized bank.
A Nidhi company registration cannot deal in the following –
Chit fund business
Hire purchase finance
Acquisition/insurance of securities issued by any corporate
Engaging as an NBFC in the business of advances or loans
Leasing finance
Acquisition of stocks/shares /bonds/securities/debentures issued by any local authority /Govt./marketable securities
Contrary to what you might think, registering a Nidhi registration is a simple 3-Step process and can be done completely online. We’ve laid it out below.
Name Reservation – We help you reserve your name with MCA.
DSC and DINs – We help you get 1 DSC and 3 DINs.
Documents and approval – We help you at every stage of the documentation process and in getting in-principle approval from the RBI.
Self-attested copy of PAN Card
Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport
Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill
Passport-size Photograph
Specimen Signature Certificate
Additional Information:
A business established by two or more partners with the goal of achieving a profit is called a partnership firm. There are benefits to registering a partnership firm. The legal document used to establish a partnership company registration is known as a partnership deed.
The Indian Partnership Registration Act of 1932 is the primary governing partnership registration law in India. A partnership, as defined by the law, is a union of individuals who have consented to divide the profits from a company that they all, or any of them, act for a banking business. A partnership can only have a maximum of 10 members, whereas for other enterprises, it can have a maximum of 20 members.
While the partners are separate legal entities, partnership firms are not. A partnership company registration is not permitted to be a debtor, creditor, or property owner. According to the law, the assets, liabilities, and credit of a partnership registration firm belong to the partners. To prevent future misunderstandings, the partnership agreement must specifically state how profits and losses will be distributed among the partners. Each partner is allowed to conduct business on behalf of the others.
Given its low expenses, simplicity of setup, and lack of stringent compliance requirements, it makes sense for some businesses, such as home-based ones that are unlikely to go into debt to register themselves as partnership firms. General partnerships have an optional registration process. To draft a current original partnership deed registration format, get in touch with our Bhabhya & Bhairavi search experts right away. If there are fewer than two partners after a partner's death, incapacitation, or resignation, the partnership company registration will be dissolved.
How to Register Partnership Firm? - Procedure Step 1: Submit a Registration Application
The Registrar of Firms in the state where the company is located must receive an application form and the required fees. All partners or their representatives must sign and verify the registration application.
Step 2: Choosing the Name of the Partnership FirmA partnership firm can be referred to by any name. But make sure they abide by the rules—for example, no two names should be the same, nothing related to the government, etc.
Step 3: Registration CertificateThe firm will be registered in the Register of Firms and given the Registration Certificate if the Registrar is pleased with the registration application and supporting documentation. All firms' most recent information is available in the Register of Firms, which anybody can access for a fee.
Partnership Deed Format-The legal options available to the firm's partners are summarised in a partnership deed format. It should cover:
· Each partner's obligations, rights, and liabilities are governed by it
· The deed contains all of the terms and circumstances of the partnerships, which is very beneficial in preventing misunderstandings between the partners
· The partnership deed will be simply referred to in the event of a dispute among the partners, making a resolution simple
· The partners' misunderstanding of how to split losses and receive reimbursement for earnings
· Explains the part played by each partner
· The partnership deed will also include sections that specify the amount of compensation that shall be paid.
Additional Information:
The Companies Act of 2013 supported the formation of one person company in India. It governs the registration and functioning of one person company in India. In comparison with a public company a private company should have at least two directors and two members however on the contrary one person company doesn't need any group of people to be incorporated. Up until recently, a company could only be incorporated by a group of people. An organisation with a single owner is known as a one-person company in India. Only two people could form a company prior to the implementation of the Companies Act of 2013.
As per the Section 262 of Companies Act of 2013 and official registration of a one person company in India is legal. Registering a One person company in India requires a single director and a single member representing the whole form. This corporation type has very few compliance requirements in comparison with a private corporation.
Download Required- Documents Required for One Person Company Registration· Passport or PAN card
· Passport size photo
· Specimen signature
· No objection certificate
· Rental agreement
· Address proof of directors
· Identity proof of directors For NRIs and foreign nationals, a passport
· Voter ID
· Drivers License
· Updated gas or electricity bills
· Bank account statements, and phone bills for mobile or landlines
· A sample signature.
Document Needed- Documents Needed for OPC Company Registration A scanned replica of a current bank statementYou can access bank statements online through internet banking or by visiting a bank location. Account statements and transaction summary statements are other names for them that are frequently used.
An electricity or gas bill, a phone bill, and a mobile billUtilities costs typically cover electricity, gas, water/sewage, and rubbish disposal. Since they are now considered ordinary in the majority of Indian households, other services like internet, cable TV, and phone services are occasionally regarded as extra utilities. The price of utilities can vary widely, largely depending on your region, the temperature where you live, and your usage patterns. Hence these are also submitted as important documents for OPC registration.
Rental agreement in English transcribed in a digital formatRental agreements are usually handed over as hard copies to the tenants. This has to be scanned and provided to the authority for documentation.
Service Details:
Minimum Order Quantity | 1 Piece |
Service Location | ALL INDIA |
A private limited company, also known as a Pvt Ltd or Pvt. Ltd., is a legal business entity that is privately held by shareholders. It is one of the most common types of corporate structures worldwide due to its flexibility, limited liability protection, and tax benefits. Here's an overview of private limited companies, including their formation, key documents, benefits, and compliance requirements:
**Introduction:**
A private limited company is formed by individuals or entities who contribute capital to the business in exchange for shares. These shareholders own the company and are responsible for appointing directors to manage its operations. Unlike public companies, shares of a private limited company are not publicly traded on stock exchanges.
**Documents Required for Formation:**
Setting up a private limited company involves several key documents and procedures:
1. **Memorandum of Association (MOA):** This document outlines the company's objectives, powers, and scope of operations. It is filed with the registrar of companies during the incorporation process.
2. **Articles of Association (AOA):** The AOA contains rules and regulations for the internal management of the company. It covers matters such as the appointment of directors, shareholder rights, and share transfer procedures.
3. **Incorporation Documents:** Various forms and applications, including the application for name reservation, consent of directors, and registered office address, are submitted to the registrar of companies for company registration.
4. **Identity and Address Proof:** Directors and shareholders must provide valid identification and address proof documents, such as passports, driver's licenses, or utility bills, as part of the incorporation process.
5. **Shareholder Agreement (Optional):** While not mandatory, a shareholder agreement may be drafted to outline the rights, responsibilities, and obligations of the shareholders.
**Benefits of a Private Limited Company:**
Private limited companies offer several advantages, including:
1. **Limited Liability:** Shareholders have limited liability, meaning their personal assets are protected from business debts and liabilities.
2. **Separate Legal Entity:** A private limited company is considered a separate legal entity from its owners, enabling it to enter into contracts, own assets, and sue or be sued in its own name.
3. **Perpetual Succession:** The company enjoys perpetual succession, meaning its existence is not affected by changes in ownership or management.
4. **Tax Benefits:** Private limited companies may benefit from certain tax advantages, such as lower corporate tax rates and tax-deductible business expenses.
5. **Credibility and Growth Opportunities:** The corporate structure of a private limited company enhances its credibility with stakeholders, including customers, suppliers, and investors. Additionally, it provides opportunities for fundraising and expansion.
**Compliance Requirements:**
Private limited companies must adhere to various compliance requirements, including:
1. **Annual Filings:** Companies are required to file annual financial statements, such as balance sheets and profit and loss accounts, with the registrar of companies.
2. **Statutory Meetings:** Annual general meetings (AGMs) and board meetings must be held as per the Companies Act and AOA.
3. **Tax Compliance:** Companies must comply with tax laws and regulations, including filing annual tax returns and paying corporate taxes on time.
Additional Information:
An Introduction
In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. The former may be further divided in public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast, anyone may buy shares in a public limited company.
Documents required for Limited Company Registration
For Name Approval
Sr.No. | Description |
---|---|
1. | Copy of Income Tax PAN (Permanent Account Number) of all directors / Promoters. |
2. | Copy of Address Proof (Voter Id, Passport, Driving License, Aadhar Card) of all Directors / ShareHolders. |
3. | Latest passport size Photographs of all directors / Promoters. |
Sr.No. | Description |
---|---|
1. | Utility Bill (Electricty Bill) of premises proposed to be the registered office. |
Note : In case Premises is taken on Rent / Lease ( Rent agreement will also be required) 5. Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all directors / promoters with same address as given in Voter Id, Passport, Driving License, Aadhar Card. |
Procedure involved to incorporate Public Limited CompanySimple Procedure :
Compliances Involved after Formation of Company
FAQ
Introduction
Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner's wrongful business decisions or misconduct.
e-Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
Since LLP contains elements of both 'a corporate structure' as well as 'a partnership firm structure' LLP is called a hybrid between a company and a partnership.
A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners.
Additional Information:
Service Details:
Minimum Order Quantity | 1 Certificate |
Service Location | ALL INDIA |
Proprietorship Formation
A Sole Proprietorship Is A Type Of Unregistered Business Entity That Is Owned, Managed And Controlled By One Person. Sole Proprietorship's Are One Of The Most Common Forms Of Business In India, Used By Most Micro And Small Businesses Operating In The Unorganized Sectors. Proprietorships Are Very Easy To Start And Have Very Minimal Regulatory Compliance Requirement For Started And Operating. However, After The Startup Phase, Proprietorship's Do Not Offer The Promoter A Host Of Benefits Such As Limited Liability Proprietorship, Corporate Status, Separate Legal Entity, Independent Existence, Transferability, Perpetual Existence - Which Are Desirable Features For Any Business. Therefore, Proprietorship Registration Is Suited Only For Unorganized, Small Businesses That Will Remain Small And/Or Have A Limited Period Of Existence.
There Is No Mechanism Provided By The Government Of India For The Registration Of A Proprietorship. Therefore, The Existence Of A Proprietorship Must Be Established Through Tax Registrations And Other Business Registrations That A Business Is Required To Have As Per The Rules And Regulations. For Instance, VAT Or Service Tax Or GST Registration Can Be Obtained In The Name Of The Proprietor To Establish That The Proprietor Is Operating A Business As A Sole Proprietorship. Thus, All The Registrations For A Proprietorship Would Be In The Name Of The Proprietor, Making The Proprietor Personally Liable For All The Liabilities Of The Proprietorship.
EfilingIndia Is The Market Leader In Business Setup Services In India, Offering A Variety Of Company Registration Like Private Limited Company Registration, One Person Company Registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration And Indian Subsidiary Registration. The Average Time Taken To Complete A Proprietorship Registration Is 3 - 5 Working Days, Subject To Government Processing Time And Client Document Submission. Get A Free Consultation For Proprietorship Registration And Business Setup In India By Scheduling An Appointment With An EfilingIndia Advisor.
Reasons to Register a Proprietorship FirmEasy to Start
Proprietorship needs minimal registration. Therefore, it is one of the easiest form of business entity to start with minimal formalities. However, after starting up a Proprietorship, it is relatively harder to open a bank account or obtain a payment gateway in the name of the business - since more registrations like VAT or Service Tax or GST Registration may be required.
Business Name
Since the name of a proprietorship is not registered, a proprietorship can choose to have any name - as long as it does not infringe on a registered trademark. However, since the name is not registered, any other person can also use the same business name unless trademark registration is obtained.
Single PromoterProprietorship is the only type of business entity that can be registered and operated by one person. To register a one person company, a nominee Director is required and for all other types of entities like company or LLP or partnership firm, two or more promoters are required.
Lower TaxesProprietorship with less than Rs. 3 lakhs of income is not required to pay any income tax, as proprietorship's are taxed as the individual owing the business. However, unlike a company or LLP, a proprietorship cannot enjoy some of the tax deductions, which could potentially increase the tax liability.
Easy to CloseThe Proprietor and the proprietorship are one and the same for all legal purposes. Hence, there is no formality for winding up or closing a proprietorship. In most cases, to close a proprietorship, only the tax registrations obtained in the name of the proprietor must be cancelled.
Additional Information:
An NGO is a non-governmental organisation that works to improve society at large through philanthropic endeavours. Depending on the activity you want to pursue, you can start it as a Trust, a Society, or a Non-Profit Company [Section 8 Company].
All non-profit organisations, including Trust, Societies, and Section 8 Companies, are collectively referred to as NGOs in India. Such non-profit organisations are also known as 'Sangathan', 'Sangh', and 'Sangam.' All non-profit NGOs are eligible for an income tax exemption.
These are occasionally mistaken with non-profitable businesses, which denotes a conventional company that is not turning a profit. Bhabhaya & Bhairavi will assist you in making the best decision and will walk you through the full NGO company registration procedure.
Benefits Why register an NGO in India?· A registered NGO gains the legal status and becomes accountable for the funds received. For instance, when an individual donates funds to a charitable trust, it is received under the name of the organization and used for the trust’s activities. In an unregistered firm, the assets can be received under anyone’s name and may be used for their own profit.
· An organization that is registered as an NGO reinforces the ethical, social and legal norms of our society.
· The basic requirement for running an NGO is to have a bank account under its name. In order to open an account, it is mandatory to be registered as a Trust, Society or Section 8 Company.
· The registration of an NGO is necessary to seek tax exemption from the Income Tax Authority.
What Is the Classification of NGOs in India?
There are various classification of NGOs in India, here is the list:
By the Level of Orientation· Charitable Orientation
· Service Orientation
· Participatory Orientation
· Empowering Orientation.
By the Level of Operation· Community-Based Organisation
· City Wide Organisation
· National NGOs
· International NGOs.
Things to Do Before Applying for NGO Registration Online Obtain a Certificate for a Digital Signature (DSC)The registration forms must be digitally signed before being submitted online, therefore proposed directors must offer digital signatures. India's government certifies organisations that issue digital signature registration (DSC). Candidates must earn a DSC in either the Class 2 or Class 3 category. The cost to receive DSC varies and is determined by the certifying organisation.
Get a Director Identification Number by Applying (DIN)Applications must include DIN requests for any potential company directors. The allocation of a DIN is aided by the completion of application Form DIR-3. The application form must be provided with scanned copies of director identification and address proof, self-attested copies of PAN, and other supporting documentation. Online submission of the application form is possible.
NBFC stands for Non-Banking Financial Company which is a company registered under the Companies Act, 2013, engaged in the business of providing loans & advances, acquisition of shares/stocks/bonds/debentures/securities issued from the government or the local authority or other marketable securities of similar nature, leasing, hire-purchase, insurance business, and chit business.
However, those institutions whose principal business is that of agriculture activity, industrial activity, purchase or sale of goods (other than securities) or providing any services and sale/purchase/construction of the immovable property are excluded from the definition of NBFCs.
Moreover, a Non-Banking Financial Company also refers to a company having the principal business of obtaining deposits under any scheme of arrangement in a lump sum or installments through contributions or in any other manner, is also a non-banking financial company (like Residuary Non-Banking Company). Hence any non-banking institution desirous of engaging in such activities should apply for NBFC Registration.
Documents required for NBFC RegistrationThe following documents should be kept ready:
The process for the registration of NBFC is given below –
Arranging the Documents
It is important for the applicant to arrange all the relevant documents required to initiate the process of NBFC Registration.
Filing the Application with RBI
After arranging the relevant documents, the applicant must file the application with the authority.
Submission of Application and Documents for Verification
The next step is the submission of the application along with the necessary documents by the applicant for the purpose of verification by the authority.
The authority will verify the documents and application to check the accuracy of the submissions made by the applicant.
Issue of Registration Certificate
After successfully verifying the application and documents, the authority will issue the registration certificate.
Insurance marketing firm is a new form of business and distribution channel in the insurance sector. This was brought out by one of the insurance committees in 2007. A group of companies were set up to market the products related to insurance and mutual funds sales. Apart from this, the main plan was to sell stocks, pension plans, and financial services.
Insurance Marketing Firms conduct similar services related to an insurance distribution firm. An entity to operate as an insurance marketing firm should secure an insurance marketing firm licence. Insurance marketing firms have collaborations with insurance companies to market their products. To obtain an insurance marketing firm licence the applicant has to be a company/ LLP/ cooperative society/ any other recognised entity. An individual cannot be an insurance marketing firm.
These firms are free to sell insurance products on behalf of different insurance companies. However, specific guidelines have to be followed by an insurance marketing firm in dealing with clients. Marketing firms have to show transparency and prudence in their dealings with clients. Insurance marketing firms do not have any contract of exclusivity with one insurer. They can work for different insurance companies.
Applicable Acts/ Rules/ Regulations regulating the Insurance Marketing Firm Licence
The Activities of an Insurance Marketing Firm are governed by the following acts, rules and regulations:
The primary regulatory authority for the Insurance Marketing Firm Licence is the Insurance Regulatory and Development Authority of India (IRDAI). Insurance Marketing Firm license is also regulated by the Reserve Bank of India, Securities Exchange Board of India, Pension Fund Regulatory and Development Authority and Department of Posts.
Eligibility criteria for obtaining the Insurance Marketing Firm LicenceThe following eligibility criteria have to be followed by an applicant:
Corporate StructureAccording to Regulation 2.2 of IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015, an applicant for an insurance marketing firm license can be:
According to Regulation 6 of IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015, an applicant has to meet the following capital requirements to apply for an insurance marketing firm license:
A Producer Company was introduced in India with the Companies Act, 2013. It gives persons engaged in activities related to producing (what has been grown or produced, particularly by farming) the opportunity to form a company. A farmer producer company can be formed by 10 or more producers (persons involved in, or in activities related to, produce or growth), two or more producer institutions or a combination of 10 or more producers and producer institutions. Such a company can only have equity capital, require a minimum of five directors and an authorised capital of ₹ 5 lakh. The procedure for forming a Farmer Producer company is similar to the one for forming a private limited company.
Types of Farmer Producer Company Production BusinessesThe main functions of producer companies are production, procurement or manufacture of any primary produce for its members (for further sale) and to others.
Marketing BusinessesEven a business involved in the marketing or promotion of primary produce or provision of educational services to members and others can constitute itself as a farmer producer company.
Technical Service BusinessesAny business offering technical assistance to producers, providing training and educational services or conducting research and development can register as a producer company.
Financing BusinessesAny business financing producer activities, be it in the production, marketing or development domain, can register itself as a farmer producer company.
Infrastructure BusinessesBusinesses involved in providing infrastructure to producers, whether in the form of electricity, water resources, irrigation techniques, land utilisation, or consultation with regard to the same, may constitute themselves as a producer company.
Documents Required for FPO Registration TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS· Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
· Scanned copy of Voter's ID/Passport/Driver's License
· Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
· Passport-size Photograph
· Specimen signature (blank document with signature [directors only])
Note: Any one of the directors must self-attest the first three documents. In the case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).
FOR THE REGISTERED OFFICE· Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
· Scanned copy of Notarised Rental Agreement in English
· Scanned copy of No-objection Certificate from property owner
· Scanned copy of sale deed/Property Deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence, too.