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- Registration in 7-10 Business Days
- Company PAN and TAN
- Company Name Approval
- MOA & AOA
- Incorporation Certificate
- DSC Tokens
- DSC Support & Shipping
- Digital Signature Certificates
- Director’s Identification Number (DIN)
Choose the Ideal Business Type to Get Started
One Person Company (OPC)
₹1,499 + Govt. Fee
Best Suited for
- Ideal for solo entrepreneurs and individual business owners
- Provides limited liability protection while being a single-owner company
- Simplifies business operations with minimal compliance requirements
- Best for small businesses or startups with a single founder
- Allows the flexibility of a private limited company with fewer regulatory hurdles
Limited Liability Partnership (LLP)
₹1,499 + Govt. Fee
Best Suited for
- Ideal for solo entrepreneurs and individual business owners
- Provides limited liability protection while being a single-owner company
- Simplifies business operations with minimal compliance requirements
- Best for small businesses or startups with a single founder
- Allows the flexibility of a private limited company with fewer regulatory hurdles
Private Limited Company (PLC)
₹1,499 + Govt. Fee
Best Suited for
- Ideal for solo entrepreneurs and individual business owners
- Provides limited liability protection while being a single-owner company
- Simplifies business operations with minimal compliance requirements
- Best for small businesses or startups with a single founder
- Allows the flexibility of a private limited company with fewer regulatory hurdles
Different Types of Company Formations
The first step to formalise your business as a legal entity before setting up its base is Company Registration. Company Registration will give you a solid foundation to your company with protection and legal rights.
It is crucial to understand the right company type for you so that it can make your entrepreneurial journey smoother. So let’s start with understanding India’s different types of business structures.
Different types of Business structures in India.
Private Limited Company
A Private Limited Company is one of the most popular and common business structures in India. It is a type of business where owners are separate from the company. Are you confused now? This means the company is responsible for its debts, not the owners. The owners are called shareholders with limited liabilities, which means they only lose money they invested. However, the company cannot sell their shares to the public. If you want to start this type of company then, at least two people are needed as directors and shareholders. A Private Limited Company is governed by the Company Act 2013.
Limited Liability Partnership (LLP)
A Limited Liability Partnership is a mixture or a composition of a partnership and a company. It is perfect for those who want to work together skipping the risk of losing personal money. Consultants or lawyers often choose this type of company registration. Under the LLP Act, 2008, the partner’s liability is limited to what they have invested in the business, so their personal assets are safe.
One Person Company (OPC)
One Person Company is for those who want to start their business alone. It works like a private limited company but with just one owner. One-person company registration is great for small entrepreneurs because it offers the benefits of limited liability. The Company Act of 2013 governs OPCs which makes them easier to manage for solo business owners.
Public Limited Company
A Public Limited Company is an organization that can issue shares to the public. This type of company is typically selected by large organizations for raising significant amounts of capital. A Public Limited Company requires at least three directors and seven shareholders. This company is governed by the Companies Act, 2013, and is expected to adhere to very strict regulations, such as making its financial statements public.
Sole Proprietorship
A Sole Proprietorship is the simplest form of business. This is owned and operated by a single person. This form is simple to start up and maintain, but all the debts of the business are the personal responsibility of the owner. There is no legal distinction between the business and the owner.
Partnership Firm
A Partnership Firm is a company owned and controlled by two or more members who share both profits and liability. It is governed according to the Indian Partnership Act, 1932. In a normal partnership, the partners have liability toward the debts of the company, and the personal savings can be utilized to make the loan.
Section 8 Company
A Section 8 Company is for people who want to start a non-profit organization. It is governed by the Companies Act, 2013. These companies work for social causes like education, charity, or the environment. They cannot give profits to their members and must use the money for their goals.
Non- Government Organisations or NGOs
NGOs are groups that work for the welfare of society. They can be registered as trusts, societies, or Section 8 companies. NGOs focus on causes like helping the poor, education, or the environment. They get money from donations, grants, or government support and do not aim to make profits.
Each type of business structure has its rules and benefits, so you may choose one that best meets your objectives.
Benefits of Registering a Company
- Protects What’s Yours: If something goes wrong in your business, like financial losses, your personal savings and property won’t be affected. That’s a big relief, right?
- Builds Trust Instantly: A registered company looks professional. Customers and clients feel more confident working with you when they know your business is official.
- Makes Borrowing Easier: Need a loan or looking for investors? Banks and investors are more likely to say “yes” if your company is registered. It shows you’re serious about your work.
- Gives Your Business Its Own Identity: Once registered, your business gets its own name and legal status. It’s like giving your dream a proper home in the business world.
- Tax Benefits: Who doesn’t like saving money? Registered businesses can claim tax deductions and enjoy benefits that others can’t.
- Keeps the Business Running Smoothly: A registered company doesn’t stop if the owner steps down or changes. It keeps going, which makes it more reliable for everyone involved.
- Attracts Great People: Talented people want to work for companies that feel stable and organized. Being registered makes your business look like the real deal.
- Limits Your Risks: If your company owes money, you’re only responsible for what you invested. Your personal money and assets stay safe.
- Makes Growing Simple: Expanding to new locations or partnering with other businesses becomes a lot easier when your company is registered.
- Legal Protection: A registered company has legal rights. You can sign contracts, work with government departments, and handle disputes without any confusion.
How Can You Pick the Best Company Structure for Your Enterprise?
Every one of the aforementioned structures has rules and specifications that must be adhered to both during and after company registration.
When deciding on the best structure for your company, keep the following points in mind:
Business Type
When selecting the best structure, your company's type, sector, and primary operations are crucial factors. For example, due to their different operational needs and objectives, a consulting firm will select a different structure than a manufacturing company.
Ownership and Investment
These two areas involve some of the most important choices. Will your company be privately held with a small number of investors, or do you want to raise money from more people?
Liability Protection
If you don’t want your personal stuff—like your house or savings—on the line if things go wrong with your business, think about going with an LLP or Private Limited Company. These structures protect your personal assets from business risks.
Scalability
Where do you want your business to go? If you’re hoping to expand or raise funds from investors, it’s best to pick a structure that allows that. Public Limited Companies are great for this because they can raise money through the stock market.
Compliance and Legal Requirements
Different business types mean different rules. If you want something easy and don’t mind less paperwork, go for a Sole Proprietorship. But if you’re ready to handle more rules for better perks, a Private Limited Company might be a better fit.
Nature of Business
- Service-based
- Startups, Scaling Businesses
- Small-scale, Freelancers
- Non-profit, Charitable
- Professional Services
Suitable Company Type
- Sole Proprietorship, Partnership, LLP, Private Limited Company, OPC
- Private Limited Company
- Sole Proprietorship, OPC
- Section 8 Company, NGO
- Partnership, LLP
Company Incorporation Procedure
A company incorporation is a most significant step of every enterprise. It authenticates the business and serves as an opening to carry out business activities in India under a legal and regulatory environment. Following are steps that will facilitate a simple and compliant incorporation procedure in India:
Private Limited Company or a Limited Liability Partnership or an OPC
Process for Incorportaion in India
- Apply for Digital Signature Certificate (DSC): Get DSCs to authenticate electronic documents and transactions while ensuring the security and integrity of online submissions during the registration process.
- Company Name Approval: First choose your business name. Once you have your name, you need to submit it to MCA for approval. Make sure the name follows the rules and not already taken by someone else. You can check the name availability on our website before proceeding.
- Apply for Business Registration: After your name is approved, you need to register your business. You will need to provide details like business structure, office address, directors and shareholders name. If you are registering a Private Limited Company or OPC, you will use SPICe+ form. For LLP, you will use FiLLiP form.
- Obtain a Certificate of Incorporation: After a thorough scrutiny of the application and its compliance with legal requirements, you can get a Certificate of Incorporation issued by MCA. COI represents the successful incorporation of the company, which gives it a unique legal identity.
It is to be noted that the above process may vary for different types of companies, and there might be other compliances that are applicable depending on the type of business and industry.
What is the Cost of Company Registration by FilingMantra?
This varies according to several factors such as the type of company structure, the jurisdiction where you are registering, the stamp duties, professional fees, and additional services you may need.
Our service is customized to address the needs of visionary entrepreneurs. We help them start their business ventures and also to legitimize them. Here is where we offer options on OPC, Pvt, or LLP.
This would comprehensively consider the growth of and evolutionary needs of the business that the company structure should therefore harmonize with both current and future requirements.
Type of Business
- Private Limited
- LLP
- OPC
Cost of Registration
- Rs 1,499 + Govt. fee
- Rs 1,499 + Govt. fee
- Rs 1,499 + Govt. fee
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