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The Proprietorship registration is known as one-man army because only one person is the sole owner. Some points to be noted that he must be Indian citizen, no limitation has been imposed on the minimum amount for initially for the proprietorship. Also, no registration is required for starting the proprietorship. This form of registration is very common in India, generally used by small entities. However, benefits cannot be enjoyed by the proprietorship owner such as liabilities, separate legal entity, any existence independently, transferability etc. which is common benefits enjoy by a business. This registration is especially for the smaller business to start their business with a limited existence in the market.
In India, there are many small businesses, who are operating their business in the form of Sole Proprietorship. Just in few simple steps, business entity can be formed with the sole owner and without any legal formalities as such. Sole owner is required to open a current account and must carry out transaction through that with some prescribed KYC as per RBI norms. This is the easiest way or platform of starting a small business with a focus on business growth rather than getting through complexities of legal compliances.
The LPP stands for Limited Liability Partnership it is a better version of a general partnership firm. It is governed by limited liability partnership act 2008.
Minimun 2 Partners are required to start a LPP. There are no limit on the mximum number of in a LPP.
Unilike a private ltd company no minimum capital required to start a LPP.
A legal proof of LPP is certificate incorporation as well as LPP agreement.
LPP agreement is similar to a partnership deed where all the rights, liabilities and share of profit and loss are mentioned/drafted.
Name allotment as desired by you is wholly a discretionary power of ROC. Normally ROC is allot your desired business name if it is unique and not resemblinding with any existing company/LPP.
Yes, DSC of an authorised director is required while in corporating an LPP.
Yes, Charted Help is an online platform serving all over india no matter wherever you are doing your business all you need is internet connection on your mobile or desktop and we are ready to get your done.
No, You don't need to be a physically present for the process.E-startupindia is an online catering platform all you need is internet connection in your phone/desktop and required document with and we can get the job done no matters even you are present at remotest location of the india.