18/05/2022 Accounting - Finance
The company registration procedure should be carried out in accordance with the Companies Act of 2013 and is governed by the Ministry of Corporate Affairs. The Registrar of Companies and the Central Registration Centre are two other entities that regulate and monitor the company registration process. The following are the most common business structures that entrepreneurs can incorporate in Bangalore:
Private Limited Company: Best suited for growing companies that plan on raising funds in the future.
One Person Company: Suitable for a single individual who wishes to start a business and wants to leverage the advantage of limited liability.
Limited liability partnership: Ideal when a close group of people are starting a business and do not require external investors.
Partnership firm: Ideal for a team of entrepreneurs who wish to establish formal business relations, but the structure does not offer limited liability.
Sole proprietorship: suitable for entrepreneurs who wish to start a business informally and immediately.
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