LLP and Sole Proprietorship The transformative decision of selecting between a Limited Liability Partnership and a Sole Proprietorships influenced by an array of factors. It is ranging from your business goals to liability protection, and even management structure. Within this captivating landscape, careful consideration of these elements paves the way for an informed… Read More »
Should i register my business as an llc or sole proprietorship Registration of Business, The decision to register your business as a Limited Liability Company (LLC) or a sole proprietorship depends on various factors, including your specific business needs, legal considerations, and personal preferences. Here are some points to consider: Liability Protection: One of the main… Read More »
Sole proprietorship vs OPC Here are the notable distinctions between an OPC (One Person Company) and a sole proprietorship: Legal Structure: OPC: An OPC is a legally recognized entity that is registered under the Companies Act. An OPC (One Person Company) is recognized as an independent legal entity distinct from its owner. Sole Proprietorship: A… Read More »
One Person Company One Person Company (OPC) is a type of company that can be formed with only one person as its member or shareholder. It introduce in the Companies Act, 2013 to encourage small business owners and entrepreneurs to start their own companies with limited liability protection. A OPC has a separate legal identity… Read More »
Self-registration LLP Self-registration LLP: Limited Liability Partnerships (LLPs) have become a popular choice for entrepreneurs and small businesses due to their flexibility and tax advantages. Understanding LLP Formation LLP formation involves several steps, including choosing a business name, drafting a partnership agreement and filing registration documents with the appropriate government agency. While… Read More »
Proprietorship and Private Limited Here are some of the significant contrasts: Ownership: A proprietorship is solely owned and controlled by an individual, whereas a Private Limited Company is owned by shareholders, with the company’s management entrusted to the Board of Directors. Liability: In a proprietorship, the owner bears unlimited liability, implying personal responsibility for all… Read More »
