Your first step for a successful Organisation begins with us. Our Primary Focus is in understanding our client’s needs and our approach to their requirement stems on delivering the best possible solution.
What should I do to register my business?
Anybody who wants to register their business must choose between different forms of entities that is available depending upon their requirements and then follow the registration procedures involved for each type of business entity. We at INFINI guide you in choosing the right form of entity which is most suited for your business and also assist you in getting the registration of your business entity seamlessly.
How do I choose the right form of entity for my business?
The Scale of your operations, extent of investment expected, number of business partners, future outlook of your business that you could foresee and nature of your business are the key factors to determine the best form of entity to run your business. INFINI’s team will understand your requirements and expectations in detail, explain the various forms of businesses that are available, their advantages and disadvantages which would help you analyze and choose the right form of entity for your business.
What are the different types of business entities?
There are several types of business entities one can choose from a Private Limited Company to a LLP to a Partnership firm and a Proprietary Concern. Get in touch with us to know all about different types of business entities with the pros and cons of each type of entity and the registration procedures involved therein.
Private Limited Companies
Most preferred type of an entity in India is a Private Limited Company especially by Startups. Foreign Companies outside India desiring to enter the Indian market prefer a Private Limited Company to set up their Subsidiaries in India. A Private Limited Company is incorporated under Companies Act, 2013 and the registration of a Private limited company is administered by the Ministry of Corporate Affairs (MCA). The Government of India is continuously reforming the registration process to set up a Private Limited Company in India and our team of experts provides complete assistance in making the entire Incorporation Process a seamless experience for our Client with utmost efficiency.
When should I register my business as Private Limited Company?
Private Limited Company is most suited for growing businesses who would like to keep it more systematic from the very beginning. The advantage of a Private Limited Company is that it gives the shareholders limited liability to the extent they have subscribed to the shares of the Company. A Private Limited Company is also seen to be a more structured form of business entity from a prospective customer, Vendor, bankers and all stakeholder’s perspective, which is really key to a growing business.
How long does it take to incorporate a Private Limited Company?
A Private Limited Company Incorporation with Indian shareholders and directors takes about 7-10 working days in all to get the Incorporation Certificate from the Ministry of Corporate Affairs (MCA). A Private Limited Company with Foreign Shareholders would take additional time for preparation of necessary initial documents , but once they are ready the same 10 working days would be sufficient to complete the incorporation procedure.
What are the documents required to incorporate a Private Limited Company?
PAN and AADHAR Card of the Individual shareholders and Directors are mandatory and Incorporation Certificate along with Board resolution is mandatory for a Corporate shareholder. Get in touch with our team to know more about the documents required to Incorporate a Private Limited Company.
What is the minimum Capital required to Incorporate a private limited Company?
There is no minimum capital required to incorporate a Private limited company currently.
How many directors are required to Incorporate a Private Limited Company?
Minimum two directors are required to incorporate a private limited company.
Can directors and Shareholders be the same persons in a Private Limited Company?
Yes. Directors and shareholders can be the same persons in a Private Limited Company.
Do directors have to hold minimum number of shares in a Private Limited Company?
No. A director who is not already a shareholder in the Company is not required to hold any minimum number of shares in a private Limited company.
Setting up Indian Subsidiaries
India is one of the preferred countries across the globe for the multinational companies to have their presence. To set up a subsidiary in a foreign country, any international company would need a trusted consultant who can guide them throughout the set up process, provide them with information on the local laws and regulations and help them to get their licenses from various authorities in India. Infini has hands on experience of assisting many foreign companies setting up their subsidiaries in India and also provided other services to their subsidiaries in India.
What are the ways a foreign company can run it’s business in India?
The following two options are most preferred by a foreign company to run their business in India.Incorporate a subsidiary Company and thereby subscribe to majority of shares in the Subsidiary Company’s Capital.Open a branch office and run it’s operations in India without having to create a separate legal entity.
How to Incorporate an Indian subsidiary?
A foreign company can incorporate it’s subsidiary in India by subscribing to the majority of shares in it’s subsidiary, subject to the Foreign Direct Investment Guidelines issued under FEMA. Contact our team to know more details about the procedure and timeline to incorporate a Subsidiary in India.
What are the documents required for a foreign national to incorporate a Company in India?
The identity and address proof of a foreign national must be submitted and all documents must be apostilled or attested based on the country he is from. Contact our team to know more about the list of documents and the attestation requirements.
Do I have to travel to India to Incorporate a Company in India?
Not necessarily. But in case if you travel to India to incorporate a company, you must arrive only on a business visa and the copy of your business visa along with the stamps of your date of arrival into India must be submitted to prove your visit to India for this purpose. Tourist Visa will not be considered for the purpose of Incorporation.
Can I incorporate a Company in India without visiting India?
Yes. There are no requirements to be present in India to Incorporate a Company in India. Contact us to know how you can Incorporate your Company in India without visiting India.
Limited Liability Partnership
Limited Liability Partnership (LLP) is ideal for Startups who would prefer minimal regulatory compliance when compared to the Private Limited Companies. The Registration process of LLP is also governed by the MCA and we provide services relating to register the LLP, draft LLP agreements, and conversion of Private Limited Companies into LLP.
What are the advantages of Incorporating my business as LLP?
LLP is a registered form of a partnership firm with a limited liability. The biggest advantage of having your concern as LLP is the limited liability like that of private limited company with lesser compliance requirements compared to a private limited company
What is the difference between Partnership firm and LLP?
The liability of a partner in a Partnership firm is unlimited and in the unlikely event of the firm going insolvent, the personal properties of the partner could be attached, whereas the partners of LLP do not have unlimited liability and they are liable only to the extent of their contribution to the LLP.
How long does it take to get my LLP registered?
It takes 10 to 15 business days to get an LLP registered.
Do I required to hold DIN (Director Identification Number) to be a partner in an LLP?
Yes. For a partner in an LLP it is called DPIN (Designated Partner Identification Number) but it is the same as DIN and it can be used interchangeably. If a partner is a director in another Company, he would have already a DIN which can be used as DPIN to be a partner in an LLP.
One Person Company
One Person Company (OPC) is preferred by small businessman who wants to register his/her business in a corporate form and avail the benefit of limited liability available to Companies. The registration of OPC will be a similar process to that of a Private Limited Company and we provide assistance to small businessman in setting up their OPC, to convert from their existing unregistered Sole proprietorship form of entity and conversion of OPC to Private Limited Company when their business is expanding.
What is a One Person Company (OPC)?
A One Person Company is similar to a Company with only one Shareholder. It is an opportunity available for small businessmen to register their business as a Company rather than use the old proprietorship entity form. And also he could avail the limited liability as against the unlimited liability model in a Sole proprietorship firm.
What is the difference between Partnership firm and LLP?
A proprietorship concern is an unregistered entity with unlimited liability to the businessman. Whereas OPC being similar to a Company with lesser compliance requirements than a private limited company and also enjoys limited liability to the one shareholder.
Can I incorporate OPC with only one director?
No. There has to be minimum two directors to incorporate an OPC.
Is there a maximum cap on the Capital and Turnover for an OPC?
Yes. When the OPC exceeds Rs.2 crores of annual turnover or exceeds Rs.50 lakhs of Paid up capital it has to mandatorily convert itself into a Private Limited Company.
Partnership Firms
Partnership firms are traditional business entity form with two or three more people coming together to do business with optional registration requirement and share profits of their business according to the partnership deed. We assist our clients in drafting partnership deed, recommending registration of the deed and renewal of the firm registrations annually.
Is it mandatory to register my Partnership firm?
No. It is not mandatory to register partnership firm. However it is advised to register the Partnership firm for any future legal complications that may arise.
How to add or remove another partner to or from my existing partnership business?
For every change in the partner, a reconstitution deed has to be entered between the partners which will replace the existing partnership deed.
What are the documents required to run my business as a Partnership firm?
A partnership deed is essential to constitute a partnership firm. Get in touch with our team to draft a partnership deed and also know more about how to register the firm.
Public Limited Companies
Public Limited Companies are best suited for business entities operating at a large scale who wishes to invite the public to subscribe to the Company’s Shares. With no restriction on maximum number of members and transferability of shares unlike a Private Limited Company, a Public Limited Company’s shares can be publicly traded in a Stock exchange. We assist our clients in Incorporating a public limited company, handling post incorporation compliances and also conversion of Private Limited Company into a Public Limited Company.
How do I determine the price at which I can enter into an International transaction with my related party outside India?
A detailed transfer pricing study has to be conducted based on the various methodologies available and the reasonable price shall be arrived at based on the study conducted. Contact our tax team today to know more about the transfer pricing study.
Does Transfer pricing rules apply to transactions that I enter with my related parties in India?
Yes. For specified domestic transactions the aggregate value of which exceeds Rs.20 crores in previous year with a related party, transfer pricing rules will apply.
How do I compute taxes in case if I have income that is earned outside India?
If you are an Indian national and resident of India who also earns income outside India, your residential status has to be determined and based on which your taxes will be determined. In case if you are a non resident, then there will be no taxes on income earned outside India. In case if you are a resident, your income earned outside India will be subjected to tax in India and relief of taxes if any that you have paid abroad shall be claimed according to the DTAA.
As a foreign national employee in India, how do I calculate my taxes?
Your residential status is crucial to determining your tax calculations. Contact our team to know more about how to determine your residential status and get help for your tax calculations.
How do I find the percentage of withholding taxes to be deducted while making payment for a transaction to a person outside India?
The withholding taxes are to be deducted based on Section 195 of the Act and as well as relevant DTAA provisions.
How to claim the taxes paid outside India, when the same income is getting taxed in India?
When a single income is taxed in more than one country, the income tax provisions provide for a relief. Before claiming relief, one can go through DTAA to understand where the income should be taxed and the ways to claim relief. In cases where no DTAA is entered with a country, relief can be claimed as per Section 91 of the Income Tax act.
Proprietorship Concern
A sole proprietary concern is very popular and common among small scale enterprises in India. With minimal registration and compliance requirements, applicability of lower tax rates of the individual running the business and being run entirely by a single Individual, the proprietorship concern is the most sought after by the Individuals running their business at a smaller scale. We assist small proprietorship concerns with their registrations, tax advisory and filing of returns and also conversion into OPC or Private limited companies in case of their expansion.
How do I register my proprietorship Concern?
There are no registration requirements for a proprietorship concern. A businessman runs a proprietorship concern in his own name.
Can I get a different PAN card for my proprietorship Concern?
No. The PAN of the proprietor and the firm are one and the same.
How do I convert into a Partnership firm if I find a new business partner?
A new partnership firm has to be constituted by drafting a partnership deed with a new business partner and the assets and the liabilities of the proprietorship concern shall be taken over by the newly constituted partnership firm and the business shall be constituted in the name of the Partnership firm.
How to convert my business into a Private Limited Company?
If your turnover and capital are within the limits of an OPC, it is suggested to convert the proprietorship business into a One Person Company as it can be incorporated with only one Shareholder. To convert into a private limited company, minimum two shareholders are required. Contact our team to know more about the conversion procedures.