Nowadays many startups have been rising, and it is common in running a business in main cities. But there are certain rules and regulations to start a business or a company before you move on. As per law any startup or a business formation there should be a follow-up registration procedure considering the formalities to complete to get it legal.
There are quite more prominent reasons why should you make your startup or a company legal:
- A person can proceed with their business activities after legal company registration in a standardized manner.
- You can create a brand with complete registration so that people can move comfortably with your service.
- There are no hurdles in getting company based loans, as after the company registration it matches the terms according to banking policy.
- No personal liability commenced for a company after legal registration, so you can make it legal now.
- Your company would stand out of all companies if it were legally registered under private limited company among small, medium and large companies.
- Foreign companies who wish to operate in India, are granted permission by the Reserve Bank of India to operate branch offices in our country.
Forms of Company Ownership:
Proprietorship: If a single person owns a company then the owner is called the proprietor and the form of ownership is called proprietorship.
Partnership: If more than one person owns a company then the number of people who own the company are called partners, and the form of ownership is called partnership.
Conditions Required for Registering a Company:
- Choosing the business location.
- Deciding on the form of ownership.
- Deciding on the trademark.
- To acquire a TAX ID for the company.
- Apply for a license from the local authorities.
- Registering with the tax authorities.
Further, people, who start even for a startup or a business there are a lot more benefits for registering a company. Company registration gets easy now at online, and are people who indulge their part of service in offering easygoing registering process within 5 to 8 days in a legal format. You can now consult professionals advice for Company Registration In Bangalore! Quick 7 steps to why should start your own business?