Business Setup in Bangalore | CAnest

Business Setup Services

We offer top-notch business setup services to help you achieve your goals, whether you’re an Indian citizen or foreigner considering entry options. We provide you with all the necessary advice regarding legal structure options as well as regulatory requirements. You have the choice to proceed with establishing a branch office, liaison office, or project office if you are a foreign national.

How to start a new business?

The process begins with the creation of a business plan, in which you list the specifics of the enterprise, such as what you’ll sell, your choice of legal structure, your financial projections, a feasibility study, your choice of location, your production capabilities, your marketing strategies, etc. The next step is to develop a strategy for acquiring customers, marketing, selling, funding, etc. The next step is to examine the legal prerequisites for starting the business, tax obligations, and choosing a legal framework for it. The last step entails registering the company, complying with legal obligations, and running day-to-day operations.

CAnest assists you at every stage of the process by offering business setup services that make everything much simpler and less complicated.

Legal Structures

Despite the fact that there are many different kinds of businesses, we have only covered the two most well-known and lucrative ones in light of the market and the people’s preferences today:

Limited Liability Partnership (LLP)

The LPP Act of 2008 governs the formation and incorporation of the corporate body known as LLP. It offers the advantages of both company and partnership, and one could describe it as a hybrid of the two. An LLP agreement is a contract between the partners that establishes the partners’ rights and responsibilities within the LLP. There must be at least two partners in order to create an LLP, and there is no limit on the total number of partners. Regardless of citizenship, at least one partner must reside in India. 

Benefits of LLP

 1) Members’ personal assets are shielded from business liabilities by limited liability. LLPs are separate legal entity to the members.

 2) Flexibility. Written agreements between the members govern the partnership’s operations and profit distribution. Greater         management flexibility may be possible as a result.

 3) It is assumed that the LLP is a legal person. It has the ability to purchase, rent, lease, own property, employ personnel, enter into     contracts, and, if necessary, be held accountable.

 4) Corporate Acquisition. Two companies may be named as members of an LLP. At least one director of an LTD company must be a real   person.

Although not a complete list, it does include some of the most significant advantages of an LLP.

One Person Company

The Companies Act of 2013 introduced the idea of a “One Person Company” in an effort to offer individuals who have innovative business ideas in the field of technology limited liability. The advantages of a typical Private Limited Company apply to One Person Private Limited Companies as well. One Person Private Limited Company may be formed by a person who wishes to launch a business without a co-founder and take advantage of the advantages provided by the Companies Act of 2013. A person who wants to test his business idea can form an OPC Company; if it turns out to be successful, he can then approach venture capitalists for an investment in equity share capital, which he can then convert into a standard Private Limited Company.

Benefits of OPC

 1) An OPC offers entrepreneurs the upsides of indebtedness while limiting the member’s liability to the amount of unpaid subscription fees. This benefit is not restricted to sole proprietorship.

 2) A Private Limited business structure benefits from a social recognition of corporate status that aids the entrepreneur in attracting and retaining quality employees by bestowing corporate titles like directorship.

 3) Financial institutions prefer to lend money to corporations over proprietary firms. Banks typically demand that business owners turn their company into a personal Ltd. before approving funding. Therefore, registering your startup as a 1 Person private limited company rather than a proprietary firm is preferable.

 4) The holding of annual or extraordinary general meetings is not required. Only the resolution must be communicated by the corporate member, entered in the minutes book, signed by the member, and the date of that entry will be taken as the meeting date.

Although not a complete list, it does include some of the most significant advantages of an OPC

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