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Company Incorporation
The procedure for incorporation of a company appears confusing to most
businesses. This has made way for various corporate law firms to extend
corporate legal services. They also look after all the tasks linked with
incorporation of a company. Also, they give corporate advisory services to help
the clienteles to make a decision as to which class of incorporation applies to
the many different types of clienteles. Let us take a look at the many various
types of incorporations as that will assist clienteles make head and tail of the
operation of incorporation.
In plain words, incorporation means to change a clientele into a legal structure
that is accredited by law. After incorporation, a business becomes a
distinguished corporate entity. Many types of companies can get themselves
incorporated to reap the benefits of getting incorporated. Some of the types of
the companies that get incorporated are one person companies, private
limited companies, limited liability partnership, public limited companies, part
IX companies, section 25 companies, and foreign companies. The process of
incorporation for all of the listed companies is almost the same except for a
few inclusions and exclusions here and there.
http://www.accuprosys.com/corporate-legal-services/
One-Person Company
There has been a new addition to the Companies Act of 2013, which is the
One-Person Company. This allows the shareholders to get their businesses
incorporated. In One-Person Company, one shareholder is eligible to be the
company's director. For a One-Person company, there are up to fifteen
directors allowed. The benefits of a private limited company are applicable to a
One-Person Company. A minimum paid up capital of one-lakh is needed for the
incorporation of One-person company. The procedure needed by the OnePerson Company incorporation just like the private limited company.
Part IX Company
Seven or more members comprise this company and this has been registered
under the Companies Act, 1956, Part IX. Joint stock companies are included in
the Part IX companies. In these companies, capital is divided into shares by the
permanent paid up capital. Even here, the same procedure of private company
incorporation is implemented for part IX company, but this include a few
additional forms such as form 37 and 39.
Section 25 Company
Any company listed as a section 25 company is a non-profit organization. This
company advances into things such as science, arts, charity, etc. In a section 25
company, income is not distributed among the company members. An eligible
non-profit business has to file form 1A for its name reservation and approval
followed by application for DIN and digital signature certificate DSC, for
incorporation of company. Also, form 24A, 1, 18, and 32 are needed to be
submitted.
Foreign Company
Submission of form 44 with the
digital signature of an authorized
representative is mandatory, if any
foreign company aims to establish its
business in India and wants to get
itself incorporated. Also, DSC is a
mandatory requirement.
Businesses can also get themselves
registered under sole proprietorship,
in addition to the companies listed
above. Registration is not needed
for, starting up a sole proprietorship
company, but things such as licenses,
import export code, etc. are needed
http://www.accuprosys.com/corporate-legal-services/