Company registration in Patna Bihar is the term for the process of incorporation of a business in the Patna Bihar. It is also sometimes referred to as company formation. These terms are both also used when incorporating a business in the Republic of Ireland. Under India company law and most international law, a company or corporation is considered an entity that is separate from the people who own or operate the company.
1. Advantages of Company
The Advantages of Having a Company Form of Business Organization
A Private/Public limited company has many advantages over proprietorship and partnerships, as elaborated below.
1. Limited Liability
First and foremost benefit of doing business via company is the limited liability conferred upon the company’s directors and shareholders. As a sole trader or partnership business, personal assets of the proprietor or partners can be at risk in the event of a failure of the business, but this is not the case for a Company.
Unlike proprietorship and partnership, if a Company becomes insolvent and is wound up, only the assets of the company are used to clear its debts. The Directors or Shareholders of the company have no personal liabilities and are not made bankrupt and are free to carry on business.
2. Private Limited Company
Registration of Private Limited Company-
- Minimum 2 Shareholders
- Minimum 2 Directors
- The directors and shareholders can be same person
- Minimum Share Capital shall be Rs. 100,000 (INR One Lac)
- DIN (Director Identification Number) for all the Directors
DSC (Digital Signature Certificate) for one of the Directors