There are many kinds of business registration. It may vary as per the requirement, or on the basis of capital, partners and conditions. These are:-
Limited Liability Partnership (LLP) in India had a real existance after January 2009, it gets success with startups and professional services. Limited Liability Partnership Registration, governed by the Limited Liability Partnership Act, 2008, combines the benefits of a partnership with that of a limited liability company. LLP was introduced to provide a form of business that is easy to maintain and to help owners by providing them with limited liability.
For a Limited Liability Partnership registration in India, CAFTM is one of the most affordable and easiest service providers.
In a General Partnership firm, the Partners collectively own and manage the business and share their responsibilities and liabilities with each other. Although considered simpler to set up, each partner has ‘unlimited’ liability [his personal property can be used to settle the liabilities of the Partnership].
For a general partnership, registration these documents are needed:-
When a business is owned and governed by one person, it is called a sole proprietorship company. This type of business can be incorporated in fifteen days and hence makes it one of the most popular types of business to begin in the unsystematic sector, specifically among merchants and small traders. For a Sole Proprietorship business, registration is not required as it is identified through alternate registrations, such as GST registrations. However, its liability is unlimited and it also doesn’t have perpetual existence.