Licenses required for business. Our experts provide guidance regarding various licenses & registrations required for business.
The Ministry of Corporate Affairs regulates the registration of a company and LLP. It is advisable for Entrepreneurs who have plans for operating a business to obtain a LLP or Company registration.
Once, a company or LLP is registered, the entity would have a separate legal identity and the promoters would enjoy limited liability protection. Further, the business would also become easily transferable and the entity would have perpetual existence. Hence, before starting a business, its best to consult Lex Koterie LLP and register a company or LLP.
A Public Limited Company is a voluntary association of members which is incorporated under company law. It has a separate legal existence and the liability of its members are limited to shares they hold.
Private Ltd Company is governed by the Companies Act, 2013. A type of company that offers limited liability, or legal protection for its shareholders but that places certain restrictions on its ownership. They can attract funding from a bank or financial institutions easily due to legal identification.
OPC is a new concept introduced in the Companies Act 2013 that allows a single owner to enjoy the status of a company. And, forming an OPC also helps to have full control over affairs of the business while keeping the liability limited.
A Nidhi Company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company.
Non-Governmental Organization is a Company licensed under Section 8 of the Companies Act, 2013 (the Act), erstwhile known as the Section 25 Company under the Companies Act, 1956, which had the main object for promoting research, social welfare, religion, charity, commerce, art, science, sports, education, and the protection of the environment or any such other object, provided that the profits, if any, or the other income is applied for promoting only the objects of the company.
NBFC stands for Non-Banking Financial Companies which means that Companies dealing with various Financial Activities like Lending of Money, Investment in Securities. Assets Finance Company, Merchant Bankers, Insurance Companies, but not all of these are regulated by RBI, RBI has exempted Companies which comes under the jurisdiction of a separate regulator like SEBI, IRDA.
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