First Stage Ventures allows entrepreneurs to attain a competitive edge by assisting them in making ideal decisions at every step.
At FSV, we understand your business is unique. We value your needs by dedicating an Accountant from our team of experts who helps you at each stage of company registrations and help you get through all the formalities without any hassle from the comfort of your home.
Register your firm with various plans that suit your budget with the help of our experts. Firms can be registered with one or more of the registrations or licenses like GST, MSME, TAN, IEC code, FSSAI, and TM Registrations, etc.
How to Choose the Best Legal Structure for Business (In India)
Choosing the best structure for business can be dicey and confusing. Various factors are needed to be kept in mind while choosing because each form of business has different ways of registration, different tax compliance, different liability, jurisdiction, authority, management and number of members.
It also depends on what type of business you want to do, on what scale you want to do the business and whether you want to do it single-handedly or with two or more persons.
Types Of Business
It is the oldest and the simplest form of business entity. This type of business entity is mainly suitable for small-scale business operators. Sole Proprietorship Company is owned and managed by the individual making him the sole authority to take all kind of decisions regarding the operations of the organization. Further, the taxation and accounting procedure in this form of company is much easier than other forms of companies. As a sole proprietor is not required to file a separate business tax return and all income generated from the business is reported on the personal tax form.
The partnership firm is an association of 2 or more persons who desire to come together and carry out a business. One of the advantages of partnership firm over sole proprietorship firm is the increase in the amount of capital investment. Further, more than one owner helps to increase the skills and improves the decision-making process. In addition to this, the risk of losses will be shared by all the members in this type of company. It is registered under The Partnership Act, 1932.
The Non-profit Organisation is that Organisation which did not do their work for earning profit rather than its main objective is to do work to achieve a specific goal for the welfare of society or its members.
These types of organisations run its operation mainly on the donations, entrance fee, subscription fee, or membership fee. Non-government organizations in India can be structured and incorporated as one of the following three forms: Trust registered under Indian Trust Act, 1882, Society registered under Societies Registration Act, 1860, Non-Profit Company registered under Section 8 of The Indian Companies Act, 2013.
The concept of One Person Company (OPC) was recently introduced to overcome the various disadvantages associated with sole proprietorship form of business. Just like sole proprietor company, one person company is also owned and managed by the single owner, giving him a full control over the company.
Further, as the company formed is a separate legal entity from its members, the life of the company does not come to an end with the death of partners. It is registered under The Companies Act, 2013.
This type of company is basically suitable for medium and large-scale business enterprises. It is a form of privately held business with minimum 2 and maximum 50 members. Some of the advantages of this form of company are that the liability of the members of this company is limited to their share. It also involves many legal and tax compliances. It is registered under The Companies Act, 2013.
This type of company can be formed with at least 3 directors and 7 shareholders with a minimum paid up capital of Rs 5,00,000. One of the major benefits of the public limited company is that it can offer its share to the public at large and raise funds. Further, it gives better expansion opportunities to business entities as compared to private limited companies. Because this type of business has the scope of huge expansions, much compliance also comes along. It is registered under The Companies Act, 2013.
This type of company was introduced in India through the Limited Liability Partnership Act 2008. One of the biggest advantages of LLP over the traditional form of partnership is the presence of limited liability. The LLP formed is considered to be a separate legal entity from its members which makes the liability of the members limited to their share. Moreover, the incorporation process and the compliance process are simpler for this form of company.
Hindu Undivided Family (HUF) is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. The senior-most member of the family is the “Karta” who is responsible of all the major decisions in the business. An HUF cannot be created under a contract; it is created automatically in a Hindu Family.
Why Choose Us?
"6 odd months ago I came across First Stage Ventures and I'm a customer since. The team does a fantastic job of explaining everything. Pricing and servicing is top shelf. 5/5 would recommend people starting their company to get First Stage Ventures"
"First Stage Ventures has been a blessing in disguise for me and my company. Filling taxes and getting in touch with my CA has always been a task for me. But since I started my monthly subscription with First Stage Ventures, the entire process has been so smooth and easy