For Proprietorship

1. Easy to Start- Proprietorship needs minimal registration. Therefore, it is one of the easiest form of business entity to start with minimal formalities.

2. Business Name - Since the name of a proprietorship is not registered, a proprietorship can choose to have any name - as long as it does not infringe on a registered trademark.

3. Lower Taxes - Proprietorship with less than Rs. 3 lakhs of income is not required to pay any income tax, as proprietorship's are taxed as the individual owing the business.

4. Easy to Close - The Proprietor and the proprietorship are one and the same for all legal purposes. Hence, there is no formality for winding up or closing a proprietorship.

For Partnership Firm

1. Easy to Start - A Partnership is easy to form as no cumbersome legal formalities are involved. Its registration is also not essential.

2. Business Name - Since the name of a Partnership firm is not registered, a Partnership firm can choose to have any name - as long as it does not infringe on a registered trademark.

3. Annual Filing of ROC NOT Required - A Partnership firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company.

4. Partnership Deed - In a Partnership firm, the partnership deed will determine the ownership of the firm, profit sharing ratio, rights and responsibilities of each of the Partner.

5. Account - Bank account can be opened in the name of a Partnership firm. To open bank account, the partnership deed copy and KYC documents of the Partner must be submitted along with any other document as required by the Bank.

  1. Application for partership registration in Form-1.
  2. Two color photographs of all partners.
  3. Id proof of all partners like PAN CARD, AADHAR CARD (UID), PASSPORT, DRIVING LICENCE, ELECTION ID CARD, ETC
  4. Current office adderss proof like valid rent agreement, property document, NOC from the landlord(if rented)
  5. Five suggested names as well as nature of the business.
  6. partership draft deed.
    Stamping paper of Rs.1000/- In name to firm.
    Name of the Authorised signatory
    Bank account operation mode -single/Joint
    Share Holding pattern of Partners.
    Capital amount Invested.

For Private Limited Company

1. Separate Legal Entity - Private Limited Company is a legal entity and a seperate judicial person established under the Companies Act. Hence, a company has a range of legal capacities including opening of a bank account, hiring of employees, taking on equity or obtaining licenses and more as an independent corporate entity.

2. Uninterrupted Existence - Private Limited Company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved.

3. Borrowing Capacity - Private Limited Companies can raise equity funds in India. Companies can also issue equity shares, preference shares, debentures and accept deposits with RBI permission.

4. Easy Transferability - Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates are sufficient to transfer ownership of a company. In a private limited company, the consent of other shareholders may be required to effect share transfers.

5. Owning Property - Private Limited Company being an artificial person, can acquire, own, enjoy and alienate property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., No shareholder can make a claim upon the property of the company - as long as the company is a going concern.

    1. Minimum Requirements for Private Limited
    1. Name of the Company
    2. Atleast one of the Director shall be Indian resident
    3. Director Identification No.(DIN) has to be obtained by two Directors
    4. Digital Signature Certificate of any one of the Director
    2. Digital Signature Certificate (DSC)
    1. DSC form duly signed by Director (DSC Form will be provided by us)
    2. One colored photograph required and a signature across the photo is required
    3. Copy of Passport / address proof required
    4. Copy of PAN (Permanent Account Number)
    3. Proposed name of the Private Limited Company
    1. Give atleast four options in the order of preference
    2. Give significance of the name proposed
    4. Registered office address
    1. Address proof
    2. Electricity Bill
    3. Property Tax paid receipt
    4. Rent Agreement (If rented)
    5. Capital Contribution
    1. Breakup of the capital contribution is required
    6. Consentletters
    1. Consent letters duly signed by the both the Directors (format shall be provided by us)

Limited Liability Partnership

1. Separate Legal Entity - A LLP is a legal entity and a juristic person established under the Act. Therefore, a LLP has wide legal capacity and can own property and also incur debts. However, the Partners of a LLP have no liability to the creditors of a LLP for the debts of the LLP.

2. Uninterrupted Existence - A LLP has 'perpetual succession', that is continued or uninterrupted existence until it is legally dissolved. A LLP being a separate legal person, is unaffected by the death or other departure of any Partner. Hence, a LLP continues to be in existence irrespective of the changes in ownership.

3. Audit NOT Required - A LLP does not require audit if it has less than Rs. 40 lakhs of turnover and less than Rs.25 lakhs of capital contribution. Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

4. Easy Transferability - The ownership of a LLP can be easily transferred to another person by inducting them as a Partner of the LLP. LLP is a separate legal entity separate from its Partners, so by changing the Partners, the ownership of the LLP can be changed.

5. Owning Property - A LLP being an artificial judicial person, can acquire, own, enjoy and sell, property in its name. No Partner can make any claim upon the property of the LLP - so long as the LLP is a going concern.

    1. Minimum Requirements for Limited Liability Partnership
    1. Minimum two Designated Partners (DP)
    2. Atleast one of the DP shall be Indian resident
    3. Director Identification No.(DIN) has to be obtained by two Designated partners
    4. Digital Signature Certificate of any one of the Designated Partners
    2. DIN
    1. PAN card
    2. Current Address proof
    3. Date of Birth
    4. Two Passport size photograph
    5. All documents self attested copies are required
    6. Signed Annexure required (Format shall be provided by us)
    3. Digital Signature Certificate (DSC)
    1. DSC form duly signed by Designated Partners (DSC Form will be provided by us)
    2. One colored photograph required and a signature across the photo is required
    3. Copy of Passport / address proof required
    4. Copy of PAN (Permanent Account Number)
    4. Registered office address
    1. Address proof
    2. Electricity Bill
    3. Property Tax paid receipt
    4. Rent Agreement (If rented)
    5. Capital Contribution
    1. Breakup of the capital contribution is required
    6. Profit sharing ratio
    1. Profit sharing ratio among the Designated Partners shall be specified
    7. Consentletters
    1. Consent letters duly signed by the both the Designated Partners (format shall be provided by us)