Types of Company Registration in India
Company registration is the process of registering a company under the initiative of the Ministry of Corporate Affairs. It gives you the benefit of expanding the business globally, increasing brand awareness, customer loyalty and more.
We are in an era where everything has become digital, and hence, the company registration process also is now done online. With just a few clicks and taps, one can register the business while resting on the couch.
Types of Company Registration in India
In this blog, we will come across four most common types of company registration in India. Let's find out what they are:
Private Limited Company Registration (PLC)
It's the most common and popular business structure in India. As compared to other business structures, the registration process of Private Limited Company is easier as well as more organized. According to studies, more than 90% of startups in India opt for the Private Limited Company. Under the Startup India Program, PLC can enjoy three years tax benefits.
One Person Company Registration (OPC)
It's the most upgraded business structure in proprietorship which was introduced by Companies Act 2013. Within this, the owner gets the full advantage of Private Limited Company and enjoys the tax-free status for 3 years.
Public Limited Company Registration (PLC)
Public Limited Companies has the biggest benefit of raising fund from the public and isn't advised for the startups in their initial stage. Such companies can have a number of shareholders. Unlike Private Limited Company, Public Limited Company is governed and managed by the Board of Directors comprised as per the consent of shareholders.