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 Pal Business 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. Pal Business’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
Private Limited Companies are the most preferred type of entity in India, particularly among startups and foreign companies looking to establish subsidiaries in the Indian market. Governed by the Companies Act, 2013, the registration process for a Private Limited Company is administered by the Ministry of Corporate Affairs (MCA).
At Pal Business, we understand the significance of choosing the right business structure, and we specialize in providing comprehensive assistance in setting up Private Limited Companies. Our team of experts is well-versed in the intricacies of company incorporation procedures and stays updated with the latest reforms implemented by the Government of India to streamline the registration process.
We offer end-to-end support to our clients, making the entire incorporation process a seamless experience. From initial consultation and documentation to filing applications and obtaining approvals, our experts handle every aspect with meticulous attention to detail and efficiency.
By choosing Pal Business as your incorporation partner, clients can benefit from our expertise and guidance at every step of the process. We ensure compliance with all legal requirements and expedite the registration process to get your Private Limited Company up and running in the shortest possible time frame.
Our goal is to provide our clients with the confidence and peace of mind they need to embark on their entrepreneurial journey in India. With our dedicated support and personalized service, we make company incorporation a hassle-free experience, allowing our clients to focus on building and growing their business ventures."
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's growing economy and vast market potential make it an attractive destination for multinational companies seeking to expand their global footprint. However, setting up a subsidiary in a foreign country can be a complex and daunting process, especially when navigating unfamiliar legal and regulatory landscapes. At Pal Business, we specialize in providing trusted consultancy services to international companies looking to establish their presence in India. With our hands-on experience and in-depth knowledge of local laws and regulations, we serve as trusted advisors throughout the entire setup process. Our team of experts works closely with international companies to understand their specific requirements and objectives. We provide comprehensive guidance on the legal, regulatory, and compliance aspects of setting up a subsidiary in India, ensuring that our clients remain fully informed and compliant at every stage of the process.
In addition to assisting with company incorporation and obtaining necessary licenses, we offer a range of supplementary services to support our clients' subsidiaries in India. From accounting and finance to HR and payroll management, we provide end-to-end solutions tailored to meet our clients' unique needs. With Pal Business as their trusted partner, international companies can navigate the complexities of setting up a subsidiary in India with confidence and ease. Our proactive approach and personalized service ensure a seamless experience, allowing our clients to focus on their core business objectives and achieve success in the Indian market.
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 gaining popularity among startups due to its flexibility and minimal regulatory compliance requirements compared to Private Limited Companies. Governed by the Ministry of Corporate Affairs (MCA), the registration process for LLP offers a streamlined approach for entrepreneurs seeking a business structure that offers limited liability protection without the burden of extensive compliance obligations. At Pal Business, we understand the needs of startups and the advantages offered by LLPs. We provide comprehensive services related to LLP registration, ensuring a smooth and hassle-free process for our clients. From initial consultation to drafting LLP agreements and filing necessary documentation with the MCA, our team of experts guides startups through every step of the registration process. In addition to LLP registration, we also assist clients in drafting LLP agreements tailored to their specific requirements and objectives. Our goal is to ensure clarity and alignment of interests among LLP partners, minimizing potential conflicts and facilitating smooth business operations.Furthermore, we offer conversion services for companies looking to transition from Private Limited Companies to LLPs. Our team handles all aspects of the conversion process, including regulatory filings and compliance requirements, enabling companies to seamlessly switch to the LLP structure while maintaining continuity in their business operations.
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) has emerged as a favored choice among small business owners seeking to register their businesses in a corporate form while enjoying the benefits of limited liability typically associated with companies. Especially suited for sole proprietors looking to establish a more structured and legally protected business entity, OPC offers the advantages of corporate status without the complexities of multiple shareholders. At Pal Business, we understand the needs and aspirations of small business owners, which is why we offer comprehensive assistance in setting up OPCs. Our team of experts guides entrepreneurs through the entire registration process, ensuring compliance with all regulatory requirements and providing peace of mind.Whether it's registering a new OPC, converting from an existing unregistered sole proprietorship, or transitioning to a Private Limited Company as the business expands, we provide tailored solutions to meet our clients' evolving needs. We handle all aspects of the registration and conversion process, from drafting necessary documents to filing applications with regulatory authorities, allowing entrepreneurs to focus on growing their businesses. Furthermore, we offer strategic advice and support to help small business owners make informed decisions about their business structure and growth trajectory. Our goal is to empower entrepreneurs with the knowledge and resources they need to succeed in today's competitive business landscape.
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 have long been a preferred choice for entrepreneurs looking to collaborate and pool resources to conduct business. With the flexibility to operate without the need for formal registration, partnership firms offer a straightforward and cost-effective way for individuals to engage in business activities together. At Pal Business, we understand the importance of clarity and transparency in partnership arrangements. That's why we offer comprehensive assistance to our clients in drafting partnership deeds that clearly outline the rights, responsibilities, and profit-sharing arrangements among partners. Our team of legal experts ensures that the partnership deed is customized to meet the specific needs and objectives of our clients, providing clarity and protection for all parties involved.While registration of partnership firms is optional, we recommend registration in cases where it aligns with our clients' business goals and objectives. Registered partnership firms enjoy certain legal benefits and protections, including the ability to sue and be sued in the firm's name, making it a prudent choice for many businesses. Furthermore, we provide ongoing support to our clients by assisting with the annual renewal of firm registrations, ensuring continued compliance with regulatory requirements and peace of mind for our clients. Our proactive approach to partnership firm management helps minimize risks and ensures smooth operations for our clients' businesses.
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 (PLCs) represent the pinnacle of corporate structure, offering unparalleled opportunities for large-scale operations and access to public capital markets. Ideal for businesses looking to scale their operations and raise capital from the general public, PLCs provide flexibility, prestige, and liquidity unmatched by other business entities. At Pal Business, we recognize the unique needs and aspirations of businesses operating at a large scale. That's why we offer comprehensive assistance to our clients in incorporating PLCs and navigating the complexities of public company governance.From the initial incorporation process to post-incorporation compliances, our team of experts provides end-to-end support to ensure a seamless experience for our clients. We handle all aspects of PLC incorporation, including drafting necessary documents, filing applications with regulatory authorities, and obtaining necessary approvals.In addition to incorporation, we assist our clients in fulfilling their ongoing compliance obligations as a public company. From regulatory filings to corporate governance requirements, we ensure that our clients remain fully compliant with all applicable laws and regulations, minimizing the risk of legal issues and penalties.Furthermore, we offer conversion services for businesses looking to transition from a Private Limited Company to a Public Limited Company. Our team manages the entire conversion process, from regulatory filings to shareholder communications, enabling businesses to unlock new opportunities for growth and expansion.With Pal Business as your partner, you can leverage our expertise and experience to maximize the potential of your PLC. Let us help you navigate the complexities of public company operations and capitalize on the benefits of being a publicly traded entity.
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
Sole proprietorship concerns serve as the backbone of India's small-scale enterprise landscape, offering simplicity, flexibility, and minimal regulatory burden for individual entrepreneurs. Popular among sole traders and small business owners, proprietorship concerns provide a straightforward and cost-effective way to start and operate a business without the need for formal registration or complex compliance obligations. At Pal Business, we understand the unique needs and challenges faced by small-scale entrepreneurs operating as sole proprietors. That's why we offer comprehensive assistance to sole proprietorship concerns, helping them navigate the intricacies of registration, tax compliance, and business expansion.Our team of experts provides personalized support to small proprietorship concerns, guiding them through the registration process and ensuring compliance with applicable laws and regulations. From obtaining necessary licenses and permits to advising on tax planning strategies, we help sole traders establish a solid foundation for their businesses and achieve their financial goals. In addition to registration and tax advisory services, we also assist sole proprietorship concerns with filing tax returns and maintaining compliance with tax laws. Our proactive approach to tax compliance helps minimize the risk of penalties and ensures peace of mind for our clients. Furthermore, we offer strategic guidance and support to sole proprietors looking to expand their businesses. Whether it's converting to an OPC or Private Limited Company to accommodate growth and scale operations, our team manages the entire conversion process, ensuring a smooth transition and continuity of business operations. With Pal Business as your partner, you can trust that your sole proprietorship concern is in capable hands. Let us help you unlock new opportunities for growth and success while maintaining compliance and maximizing tax efficiency.
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.
Other Formation services
We also provide services relating to Formation of Partnership firms, preparation of Partnership deed, Registration of Trusts/NGOs, Registration of Societies.Professional Consulting for your business
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