Entity Formation
Greenvissage reviews business plans, and short and long-term goals while recommending the most appropriate legal entity for your company.
Types of Company Registration Services
Company Registration Services in India fall under certain categories, they are as follows:
- Private Limited Company
- Liaison Office
- Branch Office
- Limited Liability Partnership
We at Greenvissage have the expertise and the resources to provide you with all kind of company registration services falling under these 4 main categories. However, our services are not limited to these mentioned above. We have multiple years of experience in this field and make sure that you as a business get your company registered through the best company registration consultants in Pune.
Picking the Right Business Structure is vital
We as an experienced company formation consultants’ firm, would like to help you with registration of your business under the right business structure. We guide you and work with you to understand the nature of your business and then would advise you on the right structure your business falls under and what should be the structure under which you should operate your company. It could be a Pvt. Limited company registration ora LLP registration, that depends on what kind of business you run.
Greenvissage will help you in every step of incorporation ofthe company in India as per your requirements. We require certain documents and details from you and will help and guide you throughout the process.
Here are the 4 types of Company Registration Categories explained in detail.
Private Limited Company
Private Limited Company is the most popular form of legal entity which is used for undertaking business activity. A private limited company is enabled through issuing shares and having a separate board for managing the company. Since the management and ownership being separate in a company, this entity option makes it attractive for investors and other medium and large size enterprises. Hence a private limited company registration in Pune is the most popular option for entity registration.
The directors and shareholders are separate as per law but the same person can be a director as well as a shareholder. Directors are responsible for undertaking business activities and managing the company affairs. Equity shareholders are the owners of the private limited company. Company registration process is made simple with us and our representatives will help you understand this process well.
A private limited company is also most preferred by the startups as it makes it easy for them to onboard the investors. Also, it is preferred by customers within India as well as outside India. Banks also prefer a private limited company for extending loans. Get a free consultation for private limited company registration services and business setup by scheduling an appointment with a Greenvissage senior advisor.
Other benefits:
- SEPARATE legal entity
- Perpetual SUCCESSION
- Transfer of ownership after BOARD approval
- Best BORROWING powers
- PROPERTIES can be owned in the name of a private limited company
Liaison Office
A Liaison Office (LO) functions as a representative office set up primarily to explore and understand the business and investment climate. A Liaison Office (also known as Representative Office) can undertake only liaison activities. The role of such offices is, Therefore, Limited to collecting information about possible market opportunities, Source of supply, Providing information about the parent company and its products to the prospective Indian customers or vise versa to its vendor.
A Liaison Office can undertake the following activities in India :
- Representing in India the parent company/group companies.
- Promoting export/import from/to India.
- Promoting technical/financial collaborations between parent/group companies and companies in India.
- Acting as a communication channel between the parent company and Indian companies.
Automatic Route — Where principal business of the foreign entity falls under sectors where 100 per cent Foreign Direct Investment (FDI) is permissible under the automatic route.
Approval Route — Where principal business of the foreign entity falls under the sectors where 100 per cent FDI is not permissible under the automatic route. Applications from entities falling under this category and those from Non – Government Organisations / Non – Profit Organisations / Government Bodies / Departments are considered by the Reserve Bank in consultation with the Ministry of Finance, Government of India.
Procedure for setting up liaison office
Any foreign company intending to establish a Liaison Office in India is required to obtain prior approval from the Reserve Bank of India (RBI). All the application for setting up of the Liaison office is routed through Authorised Dealer Bank to RBI. Approval is usually granted for 3 years and can be renewed on expiry thereof.
Every Liaison office registered with RBI shall get itself registered with the Ministry of Corporate Affairs as corporate entity. Its registration as Liaison office is in itself establishment of foreign company in India. Accordingly, The Registrar will allot a FCIN Corporate Identity Number to such company. Entities from Nepal are allowed to establish only Liaison Offices in India. Even the NGO are allowed to open LO in India.
Restrictions on Activities of the Liaison Office
A Liaison Office is not permitted to undertake any commercial/trading/Industrial activity, Directly or indirectly and therefore cannot earn any income in India.
The liaison office can neither borrow, Nor lend money.
It cannot acquire, Hold, (otherwise than by way of lease for a period not exceeding five years) transfer or dispose of any immovable property in India, without prior approval of RBI.
Branch Office
A Branch Office (LO) is more suitable for companies set up outside India engaged in manufacturing or trading activities are allowed to set up Branch Offices in India. After obtaining specific approval from the Reserve Bank. Such Branch Offices are permitted to represent the parent/group companies and undertake the following activities in India.
Procedure for setting up a liaison office
Any foreign company intending to establish a Branch Office in India is required to obtain prior approval from the Reserve Bank of India (RBI). All the application for setting up of the Liaison Office is routed through Authorised Dealer Bank to RBI.
Every Branch office registered with RBI shall get itself registered with the Ministry of Corporate Affairs as a corporate entity. Its registration as a Liaison office is in itself the establishment of a foreign company in India. Accordingly, The Registrar will allot an FCIN Corporate Identity Number to such company.
A Branch Office can undertake the following activities in India :
- Export / Import of goods:- Procurement of goods for export and sale of goods after import are allowed only on wholesale basis
- Rendering professional or consultancy services.
- Carrying out research work, in areas in which the parent company is engaged.
- Promoting technical or financial collaborations between Indian companies and parent or overseas group company.
- Representing the parent company in India and acting as buying / selling agent in India.
- Rendering services in information technology and development of software in India.
- Rendering technical support to the products supplied by parent/group companies.
- Foreign airline / shipping company.
Limited Liability Partnership
The Limited Liability Partnership (LLP) is a recent form of legal entity introduced in the entity registrations category. The major benefit of a LLP is that one partner is not responsible for the negligence of other partners. Also, the partners are protected from the debts of a LLP. At Greenvissage we ensure you understand all the rules with respect to LLP registration.
Therefore, the partners enjoy the benefits of a partnership and also the partners can directly be involved in the business of the firm, whereas in a private limited company, shareholders are not involved in the business.
LLP is one of the easiest forms of a legal entity to be incorporated and is preferred by small and medium enterprises including family owned businesses. Business set up consultants at Greenvissage will ensure that all partners of the firm understand each other’s legal responsibilities towards the firm and as well as themselves.
Other benefits:
- SEPARATE legal entity
- Perpetual SUCCESSION
- EASY change in ownership
- Statutory audit NOT required (for LLP having capital contribution less than INR 25 Lakh and turnover less than INR 40 Lakh)
- PROPERTIES can be owned in the name of LLP
Once you understand each type of business structures, you too need to know about the ideal requirements for registering a new entity. The following are the key requirements you need to know well before an entity incorporation.
- The key document requirements include such as passport, aadhaar card, telephone bill, electricity bill and others.
- Choosing the name according to the procedure and availability.
- Capital requirements
- Entity compliances
- Income tax compliances
- GST registration and GST return filling
- Trademark registration
The above are main components while initiating a new entity registration in Pune and around India. Get our expert consultation to know in detail about the requirements for your business setup.
Why Choose Greenvissage ?
Solution Driven
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We are reasonable, economical & affordable with unmatched result-oriented consulting.
Expert Team
Having an experience of working with some of the world’s largest accounting firms.
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Testimonials
I always found doing business with Team Greenvissage is very pleasurable. They helped us setup the company in India and guided us through the legal minefield & ensured all compliances were adhered to strictly.
Thanks to their legal & financial support, I could fully concentrate on the Business operations, knowing the legal and fiscal are in good hands.
Known Amit and Kethan for over 15 years now and have been utilizing their services for our end to end Accounting/Tax/Payroll needs..not only are they super professional and knowledgeable they also make the best of friends a business owner can ask for!
We have been receiving personal attention from the Directors at all times. The support staff is very helpful and they try to understand the issues at hand, with all sincerity and professionalism. For emergencies we do get immediate personal intervention.
The services they provide are exemplary on a professional and knowledgeable, yet friendly level.
We particularly value their pro-active style of suggesting ideas and solutions regarding all accounting/ compliance/ payroll/ tax/ forex matters of our business,
and the way a smooth transition and taking over of our accounting/ auditing tasks from our earlier CA was accomplished.
One of the key criteria for start-ups is that the accounting firm should be flexible, understanding and very approachable.
I am happy to state that Greenvissage and its team is exactly this.
The team is ably headed by Amit and Kethaan. Both of them very well understand that the business cycles go through tough times and they make sure to support during tough times too.
I believe this is the test of good partner organization.
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Frequently Asked Questions
With our professional team, you can complete a company registration in Pune within 10-20 working days through Greenvissage subject to timely submission of documents from your end and time taken by the government to process the same.
With Greenvissage, you can get entity registration services for entity types such as Private Limited Company, Liaison office, Branch office, and Limited liability partnership.
To register a Private limited company, there is a requirement of minimum of 2 people to act as directors and shareholders. One of the directors has to be a resident of India as defined under FEMA regulations. Further a registered office address in India is required for the registration process.
Greenvissage helps you in finding the available company names in India according to your key requirements. With respect to the names similar in comparison with an already registered company, the government can still approve or reject the company name applied for.