Choosing the right business structure is just as important as doing anything else that has to do with business. Your business can operate effectively and achieve the necessary business goals with the right structure. As part of the required legal compliance, every Indian business must register.

Different Types of business structures in India –

• One Person Company (OPC)
• Limited Liability Partnership (LLP)
• Private Limited Company (PLC)
• Public Limited Company

What is the significance of selecting the appropriate business structure?

Your income tax returns depend on your business structure, so choose them carefully. When registering your business, remember that different levels of compliance are required for each business structure. A sole proprietor, for example, only needs to file an income tax return. However, a business must submit annual and income tax returns to the Registrar of Companies.

Benefits of registering a company in India –

Company registration has numerous benefits. A company with a license makes it seem real and more trustworthy.

Builds trust and encourages more customers to come back.

Makes it easy for investors to get bank credits and make good investments.

Build a stronger commitment to wealth and stability; enhance the capacity to develop and expand.

Documents Required for Company Registration –

Check the general list of the documents required for the registration of an LLP, a one-person company, a private limited company, and a public limited company –

Documents from the company’s directors, shareholders, or partners in a limited liability company (LLC). A way to verify the identities of all of the company’s directors and shareholders (or partners in an LLC). As proof of identity, any of the following documents may be submitted:

• Driver’s license
• Passport
• Aadhar card

All are acceptable forms of identification for directors and shareholders, or partners in an LLP.

Latest telephone bill (not older than two months)

Latest electricity bill (not older than two months)

Bank account statement containing the addresses DIN (DPIN in the case of LLP).

DSC of all directors

Proof of the registered office of the company.

Letter or Notice of Compliance (NOC) from the landlord granting permission to use the building as the registered office of the LLP or company.

The Memorandum of Association (MoA) specifies the company’s goals for incorporation and the members’ responsibilities.

There are numerous steps involved in company registration. The company’s structure should be decided on before it is registered. With the best service provider for all legal documents and assistance from the Multi Management Services experts, the company formation process is easier than ever.