Company Incorporation Services
SRV Associates has professional teams handling businesses of all sizes and industries. We have years of experience serving company incorporation services. According to the provisions of the Companies Act of 2013, the term “Company” has a specific legal definition and refers to a company that was created and registered under the Companies Act. Common law defines a business as a “legal person” or “legal entity” that is distinct and has the ability to endure past the lifetimes of its members. A company is “incorporated” when it is set up in accordance with the guidelines outlined in the Companies Act of 2013. This article discusses the process of incorporating a business, the benefits of doing so compared to operating as a non-incorporated business, and any drawbacks of doing so. We provide company incorporation services that are adaptable to our client’s specific needs of our clients.
SRV Associates can assist businesses with financial planning, budgeting, forecasting, cash flow management, financial analysis, and reporting through virtual CFO services. In addition, we can help with tax planning and compliance, financial risk management, and investment analysis.
Benefits of Company Incorporation
Only businesses that have been incorporated in accordance with the guidelines outlined in the Companies Act of 2013 are eligible to take advantage of the benefits listed below. These advantages are not available to incorporated businesses.
THE ABILITY TO SUE: A company that has been incorporated has the authority to bring legal actions against people and other businesses on its behalf.
FLEXIBILITY: Every corporation is free to create policies that are appropriate for its organization, so long as they don’t go against fundamental legal and ethical standards.
Continuous Succession: According to the definition of perpetual succession, a company’s lifetime is independent of its members’ financial situation. The corporation won’t disband on its own until it is forced to do so for reasons specified in the act, even if all of its members declare bankruptcy or pass away.
Small Liability: Because the corporation is a distinct legal person with its own existence, its members are not responsible for its debts. Members are only responsible for their portion of the company, and that is the extent of their liability. Nobody has to pay more than what they have already contributed.SRV Associates is a leading GST registration consultants in Noida Providing online GST Registration Services. We have a team of experienced professionals who can assist businesses with their GST registration and compliance requirements.
Shares That Are Movable
The shares of a company are presumed to be moveable and transferrable in the way specified by the company’s articles, as per Section 82 of the Companies Act of 2013. Due to this, the member can sell his shares on the open market and recoup his investment without taking money out of the business. This guarantees both the investor’s liquidity and the business’s stability. Contrarily, in a partnership, a partner cannot transfer his interest in the company’s capital without the approval of all other partners.
Disadvantages of Incorporation of a Company
- Company is not Citizen
- Lifting the Corporate Veil
- Paperwork and Expenses
Registration and Company Incorporation
Depending on the requirements and financial resources of the business owner, a company may be incorporated as any number of different forms of enterprises. One-person businesses, public limited companies, private limited companies, limited liability partnerships, foreign corporations, etc. are among these many sorts. All of these different types are incorporated, with a few small exceptions, largely in the same manner.
A company can register itself by submitting an application to the Registrar of Companies, in accordance with Section 33 of the Companies Act, 2013. The following documents should also be sent together with the application. These comprise the Articles of Association and the Memorandum of Associations (if necessary).
Only infinite companies are believed to require articles of association. If someone has been appointed, they must also provide a copy of the contract that the firm intends to sign with them prior to their appointment as a director or management. Last but not least, a statement confirming that the Act’s criteria have all been met must be made. The first stage in forming a company is to draught a document called a memorandum of association. The company’s charter is contained in this document. We offer a wide range of services including MSME Registration online services , GST Return filing services and Compliance Services.
Thus, there are advantages and disadvantages to incorporating a business. The decision to incorporate largely depends on the demands of the firm; if the shareholders believe the company to be expandable, then the high incorporation fees are wholly appropriate. Continuous Succession