Business Entity Incorporation & set up services
We have an experienced team of professionals, specialised in advising the right kind of business setup considering the need. Our consultants design specific services which help business owners to start a business in a cost effective manner in your desired location.
This is a big step when you get started with the procedure to set up your business. This basically decides the direction your company will take, whether you’re open to investments, whether you want to restrict liability, whether you want to go solo it all depends on what you think will be best for your startup. Based on the decision you take, you can form the following types of companies in India. Services are delivered as per the below scope in the Indian context
We provide fast and end-to-end company incorporation and associated service. We offer Quick Company registration services to meet the requirements of the Clients. Below are the types of companies can be incorporated.
Limited Liability Incorporation
Limited liability partnership is a partnership but as it is clear from the name itself, it has a limited burden of liability distinct from the traditional one where the liability was not limited and all the partners had to bear the burden in case of loss in business. An LLP have the benefits of both a Partnership and a company. In reality, It lies somewhere between the partnership and the body corporate.
A limited liability partnership (LLP) is a hybrid corporate business vehicle that has a perpetual succession and separate legal entity. It not only provides the benefits of limited liability but also allows its partners the flexibility of organizing their internal structure as a general partnership. As a hybrid business entity, the LLP combines the limited liability features of companies with the operational flexibility of partnerships.
A partnership deed is a written agreement between two or more partners willing to undertake business jointly. It consist of all the terms & condition agreed by the respective partners ie, their capital introduced, profit sharing ratio, kind of partners, about the nature of business, working of the firm, dissolution/liquidation of the firm& so on.
Initially the process of registration in the state of Maharashtra was done manually and not system driven, however recently this process has changed to online in Maharashtra. The registration formality needs to be completed online with uploading of various Scanned Documents along with online Application forms.
Proprietorship firm is an unregistered legal entity so Its need only the legal entity proof from the government to deals with the vendor or banks etc. There is no Registration Certificate under the Firm Act. its a very simple business formation for small entrepreneurs who want to test their ideas or start with small capital with low cost of formation. As per the nature of business AARAMBAN consultancy assist you to obtain necessary licenses and registratiSons so that current account can be opened in the name of business.
Trust, Society&Non-Profit Company registration
Trust is a simpler entity. It is easier to register and run. Such an organization is primarily based on trust. Donors give you money “trusting” that you will make good use of it for the objectives stated in your trust deed. Trustees are not answerable to anyone except the Charity Commissioner and the relevant laws. If the Income Tax department is providing 80g and 12a exemptions —they can revoke it if trustees do not follow the rules and objectives mentioned in the trust deed.
Society, on the other hand is a more democratic organization. All the members of the governing body are also answerable to each other and they have to keep the donors and the Registrar of Societies informed about what decisions are being made by them. Societies have to keep records of the meetings of the governing body.
Difference between Trust, Society, and Non-Profit Company.
|Differential Factors||Trust||Society||Nonprofit Company|
|Basic Document||Trust Deed - which contains objects of the trust (bye-law)||Memorandum of Association Articles of Association with rules and regulations.||Memorandum of Association Articles of Association|
|Formation||Very Easy||Simple||Little Hard|
|Jurisdiction||Deputy Registrar / Charity Commisioner||Registrar of Societies - For Maharastra Charity Commissioner||Registrar of Comapnies|
|Legislation Statute||Relavent state Trust Act - Bompany Public Trust Act 1950||Societies Registration Act 1860||Indian Companies Act 1956|
|Objects||Social benefits & Charitable||Literary, Charitable, Scientific and resource oriented||Nonprofit Activities|
|Re-ammendment or Modification of Objects||Alteration can be undertaken only by the Founder or settler. If the founder deceased alteration of objects is impossible.||Easy Legal Procedures||Complicated Legal Procedures|
|Required Members||Minimum = 2 Maximum = No limit||Minimum = 7 Maximum = No limit||Minimum = 7 Maximum = No limit|
|Registration||As Trust with the Registrar.||As Society with Society Registrar - Both as a society and a trust in some states like Maharastra.||As per Companies Act under Section 25|
|Stamp Duty||4% or as applicable to current date % of Trust property Value will be executed in non judicial stamp paper with the registrar||No stamp paper required for Memorandum of association, and rules and regulations||No Stamp paper required for Memorandum of association and articles of association.|
|Name||Very easy to choose||Very easy to choose||Prior approval required from Registrar of Companies.|
|Management Board||Trustees||Governing Body||Board of Directors & Management committee|
|Succession in Management||By Election||By Election||By Appointement|
|Meetings||No provisions||Annual Meeting As per Law. Governing Body meeting as per the rules of Society.||Quite Extensive as per the provision of Company Law|
|Legal Status||Limited Legal Status||Limited Legal Status||Full Legal Status|
|Statutory Regulations||Nominal||Limited||Maturable – Exhaustive|
|Membership Transfer||Impossible||Impossible||Free or Control as per desire.|
|Member Admission||Not applicable||Governing Body Control||General Body or Board Control through issue of Capital.|
|Dissolution or Take over by State||Possible||Possible||Very risky and difficult|
|Payment to Members||As notified in Trust deed||Not restricted||As approved by Company & State.|