As per Section 3 of Companies Act, 2013, a Company may be formed for any lawful purpose by
a) seven or more persons, where the company to be formed is to be public company;
b) two or more persons, where the company to be formed is to be private company;
c) one person, where the company to be formed is to be One Person Company, that is to say, a private company.
As per Section 8 of Copanies Act, 2013, a person or an association of persons proposed to be registered under this Act as a limited company—
(a) has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
(b) intends to apply its profits, if any, or other income in promoting its objects; and
(c) intends to prohibit the payment of any dividend to its members,
The Central Government may issue licence to such person or an association of person to be registered as a limited companyunder this section without the addition to its name of the word "Limited", or as the case may be, the words "Private Limited" , and thereupon the Registrar shall, on application, in the prescribed form, register such person or association of persons as a company under this section.
Limited Liability Partnership
LLP (Limited Liability Partnership is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. LLP will have lesser compliance requirements as compared to a company.
=>The first requirement of any business to start with is to choose suitable structure to register itself as a legal entity. We will help you to choose right structure according to your business requirement considering all the legal and financial impacts. The Experts will help you with Pre and post registration compliances and licence requirements.