Company registration compulsory
There is no restriction requiring compulsory company based on sales turnover or capital contribution. The company registration compulsory process must be registered under the act 2013. So, a business with any amount of turnover or capital can be managed as :
- Partnership
- Proprietorship
- One Person Company (OPC)
- Public Limited Company
- Limited Liability Partnership (LLP)
- Private Limited Company.
But, the companies act 2013, does not require company registration is compulsory for certain partnership.
Company registration compulsory
Partnership firm or association can having more than 100 persons for any kinds of business must be compulsory to register a company. For every business start up, they can submit a valid document for their new company registration process. To start a business, a public/ private company needs to file the following with the ROC.
(i) A declaration by a director in prescribed form stating that the subscribers to the memorandum have paid the importance of shares are subscribed to be taken by them.
(ii) An verification that the company has filed a confirmation of its registered office with the Registrar of their place.
(iii) A company needs registration from sectoral officials such as RBI, SEBI etc , It is approving from such registers shall be required.
Limited Liability Partnership (LLP)
The regulations requiring compulsory registration of a company does not apply for those businesses operating as Limited Liability Partnership (LLP). One of the major benefits of LLP is that allowed a maximum number of partners. The LLP can have any amount of capital and sales turnover. An LLP includes two long standing forms of business associations they are company and partnership firm.
Hindu Undivided Family (HUF)