Things to Consider before Starting Limited Liability Partnership Company
This is a fact that everyone probably wishes to start the business because they are passionate about a specific product or service, not because they love the details of the business laws. If you have decided to start the limited liability partnership business, then there is good news for you that starting this firm is really very simple and beneficial as well. Thinking about starting a business seems easier, but actually starting a business is not at all simpler. There are several ways of registering your ways like you can either go to the registrar office for registering your office or you can simply apply electronically via the internet. If you have decided to start Limited Liability Company, you should consider some factors before getting involved in Partnership Registration in India.
Below are the essential things you need to consider before you engage in Partnership Registration in India:
- The Name of the Company:
Before you plan to start your own company, make sure to think about the name of the company. The name of the company should be unique and free from any phrases or sensitive words. Also, research about the name you have decided on the internet so to know that this name does not exist anywhere.
- Officials of the Company:
Before forming a company, you need to ensure that you should have at least one director. Whenever you go to apply for your firm registration, you need to take the details of a director like a name, address, date of birth, nationality, etc. with you. If you are concerned about the privacy of your director, you can also mention service address instead of his or her residential address.
No matter how many shareholders you have, you just need to have their essential details before involving in partnership registration in India. You need the details of every shareholder like their names, class of share, address details, and their shares. Also, you need to provide some personal information of the shareholders such as birth town, passport number or national insurance number, eye colour, last 3 digits of phone number, mother’s maiden name, or the first name of the father.
- Registered address of Company:
It is mandatory for every business to have a registered address where clients can approach or send mails. There are many contractors who use the residential address as the registered address. It is purely your wish to choose any registered address, but make sure that the address is reachable.
- Articles of Association:
All companies are bind by a set of articles that are much like a rule book for the company. The article of association comprises of the director’s powers, voting rights, decision making by shareholders, and everything that is related to governance of the company.
- Memorandum of Association:
Every limited liability partnership company needs the memorandum of association before partnership registration in India. A memorandum of association is basically a legal document that is prepared at the time of formation of the company. This document defines the relationships with the shareholders.
If you are deciding to start your limited liability firm in Delhi and wants to get the partnership registration in Delhi , first make sure to read the points discussed above to not to face any difficulties during registration. LexOracle can help you in starting a Limited Liability Partnership firm without any hassles or difficulties.