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Private Limited Company: have 2–200 shareholders; shares are held privately and cannot be offered to the public. Have limited liability and registration is mandatory. Regulated by the union government. Public Limited Company: have more than 200 shareholders. Can be listed or unlisted in the share market.
The main law regulating Private Limited Companies is the Companies Act 2013. [21] Prior to 2015, the shareholders (known as members) had to pay a minimum of ₹ 1 lakh (equivalent to ₹ 1.5 lakh or US$1,700 in 2023) as a subscription amount to incorporate a private limited company. [22] A private limited company can have at most 200 members.
Ministry of Development (MR) – Central Registration and Information on Business (CEIDG) [69] – company register for natural persons trading as sole traders or their civil law partnerships (searchable); such companies are prohibited from performing certain activities (e.g. operating a life insurance company), and proper agricultural activity ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
Two types of limited company are opened for registration in Hong Kong, company limited by shares and company limited by guarantee, depending on the purpose of starting a company. A company limited by shares is the most common type of company in Hong Kong. Three documents will be needed for the application, Form NNC1 for company limited by ...
The cost of carrying out paper filing directly with Companies House is £20 for an unlimited company or £40 for a limited company. [5] This fee does not include the cost of witnessing documents or preparation of memorandum & articles of association for the company, which would usually be carried out by a solicitor, accountant, or agent ...
Registration is normally mandated by the government of that jurisdiction. A company register serves a purpose of protection, accountability and control. In contrast many countries also operate a statistical business register which has a different purpose and plays a central part in a system of official economic statistics at a national ...
A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation issued by the state government or, in some jurisdictions, by a non-governmental entity/corporation. [1] Its precise meaning depends upon the legal system in which it is used.