ONLY PRIVATE LIMITED COMPANY, LIMITED LIABILITY PARTNERSHIP (LLP), ONE PERSON COMPANY (OPC) AND REGISTERED PARTNERSHIP FIRM ARE ELIGIBLE TO APPLY FOR A STARTUP RECOGNITION CERTIFICATE
PRIVATE LIMITED COMPANY REGISTRATION
PRIVATE LIMITED COMPANY IS THE MOST POPULAR CORPORATE ENTITY IN INDIA. ONLY A PRIVATE LIMITED COMPANY CAN RAISE FUNDS THROUGH VENTURE CAPITALISTS, AS LLPS WOULD REQUIRE INVESTORS TO BE PARTNERS AND OPCS CAN HAVE ONLY ONE SHAREHOLDER. THE TRANSFER IS EASY AS COMPARED TO THE TRANSFER OF INTEREST IN BUSINESS RUN AS A PROPRIETARY CONCERN OR A PARTNERSHIP.
LIMITED LIABILITY PARTNERSHIP REGISTRATION
LIMITED LIABILITY PARTNERSHIP (LLP) IS A PARTNERSHIP IN WHICH SOME OR ALL PARTNERS HAVE LIMITED LIABILITY. IT THEREFORE EXHIBITS ELEMENTS OF PARTNERSHIPS AND CORPORATIONS. MAIN ADVANTAGE OF REGISTERING LIMITED LIABILITY PARTNERSHIP (LLP) IS THAT HAVE LOWER REGISTRATION COST AND LOWER COMPLIANCE BURDEN COMPARED TO PRIVATE LIMITED COMPANY.
ONE PERSON COMPANY REGISTRATION
ONE PERSON COMPANY (OPC) IS A NEW TYPE OF BUSINESS ENTITY THAT ALLOWS A SINGLE ENTREPRENEUR TO OPERATE A CORPORATE ENTITY WITH LIMITED LIABILITY PROTECTION. ONE PERSON COMPANY IS EXEMPT FROM HOLDING AN ANNUAL GENERAL MEETING OR EXTRAORDINARY GENERAL MEETINGS. THE RESOLUTION SIGNED BY THE SINGLE DIRECTOR AND ENTERED INTO THE MINUTES BOOK IS SUFFICIENT, IN LIEU OF A GENERAL / EXTRAORDINARY GENERAL MEETING.