At AK Solutions, we provide:

1. Business Structure Selection: Advising and assisting in selecting the appropriate legal structure for your business, such as sole proprietorship, partnership, limited liability company (LLC), corporation, etc.

2. Name Reservation/Registration: Checking the availability of your chosen business name and registering or reserving it with the appropriate government agency.

3. Filing Articles of Incorporation/Formation: Preparing and submitting the required documents to formally establish the business entity with the relevant government authority. This could include articles of incorporation for corporations or articles of organization for LLCs.

4. Registering for Taxes: Ensuring compliance with tax requirements at the center, state, and local levels. This may include GST registration, payroll tax registration, and other applicable taxes.

5. Registered Agent Services: Providing a registered agent who will act as a point of contact for legal and official correspondence on behalf of the business entity.

6. Compliance Assistance: Offering guidance on ongoing compliance obligations, such as annual reports, tax filings, and other regulatory requirements specific to your business type and jurisdiction.

7. Document Preparation and Filing: Drafting and submitting various legal documents required for the establishment and operation of the business.

8. Name Change/Amendment Services: Assisting with changing the business name or making amendments to the articles of incorporation/formation when necessary.

9. Share Issuance and Ownership Records: Maintaining accurate records of ownership and issuing shares if applicable (for corporations).

10. Assistance with Banking and Financing: Guiding you through the process of opening a business bank account and obtaining financing if needed.

11. Trademark and Intellectual Property Registration: Optional services related to protecting your brand through trademark registration and other intellectual property measures.

In India, there are several types of business structures that individuals and entities can choose from when starting a business. Each structure has its own characteristics, legal requirements, and implications for liability, ownership, and taxation. Here are some of the most common types of business structures in India:

1. Proprietorship

When a single person runs a company/business then such type of business is called a Proprietary Business, and the holder of the business is called the Proprietor. Proprietorship is the most ordinary figure of the business which is used in India. You can start and operate the business with minimum authoritarian conformity. However, there is no fully-fledged way accessible to register the proprietorship by the Government.

Tax registration and other business registration is the right way to prove the existence of your proprietary business.

The holder of a proprietorship business usually signs contracts in his or her own name, because the proprietorship business has no separate part identity under the law. The proprietor owner will typically have customers checks in the owner’s name, even if the business uses a pretended name. Proprietor owners can, and frequently do, mix personal and business property and funds/Shares, something that partnerships, LLCs and corporations cannot do. Proprietorships regularly have their bank accounts in the name of the owner. Proprietors need not notice the procedure such as voting and meetings associated with the more complex business. Proprietorships can bring lawsuits (and can be used) using the name of the single proprietor owner.

2. One Person Company

The Companies Act, No. 2013 launched the concept of One Person Company in India in order to support business executives capable of raising their own business enterprise. This business enterprise allows them to create a single person economic operation. In case of a One Person Company Registration, only one member should be there while registering this Application Form of a company while in the case of a Limited Liability Partnership firm or a Private Limited Company, there should at least be 2 individuals in order for registering the company.

A one-person company is a company that contains accurately one member. It is a separate legal operation from its supporter and the supporter has limited liability.

The business executives who are capable of starting a business enterprise on their own can make use of a one-person company (OPC) in India.
In a one-person company, there is only one shareholder who is an Indian citizen and Indian resident i.e. staying in India for at least 182 days in the preceding year. Shareholder nominates another person as a nominee in case of death or incapability of the shareholder. One person company was introduced in the companies act No. 2013 to encourage self-employment. You cannot integrate more than One Person Company or be a nominee of more than one (OPC) one-person company. Rules of (OPC) One Person Company, the company does not permit Non-Banking Financials.

3. Private Limited Company

A Private Limited Company (PVT LTD) is a privately held small business operation. The legal responsibility members of a private limited company are limited to the number of shares held by that member. A private limited company is ruled by Companies Act, No.2013. The lower limit of shareholders required to start a private limited company is two while the upper limit of members is 200 in accordance with the Companies Act, No. 2013.

If a private limited company faces a financial threat, its shareholders are not legally responsible to sell their individual assets/properties i.e. they have limited liability or legal responsibility. There must be a lower limit of two directors and upper limit 15 directors for a private limited company and a director must be 18 years above in age. A foreign citizen can become a director of private limited company India (PVT LTD).

It is mandatory to add privately limited (PVT ltd) to a private limited company India. Least paid capital amount for a private limited company is INR 1 Lakh. A private limited company keeps on existing even in the case of death or economic failure of its Members.

4. NGO

Purpose of NGO – Section 8 Company

The core function of establishing a company as a Section 8 company is to promote non-profit objectives such as trade, commerce, arts, charity, education, etc. The profits of the company if any are applied towards promoting the objectives of the company and are not distributed as equal share to its shareholders.

The minimum of 2 directors is required if the Section 8 company is to be integrated as a private limited company, and a minimum of three directors in case of incorporation as a public limited company. The most number of members is 200 in the case of a private limited company, whereas for a public limited company, there is no such limit .Also, there is no requirement of minimum paid-up capital in the case of a Section 8 company.

With our dedicated support, you can embark on your business journey with confidence, knowing that your registration and incorporation needs are in capable hands.