Types of Business Formation, Minimum Requirements for Company Registration, Member's Liability, Name of the Entity. To know more about LLP vs PVT. LTD.. vs OPC vs Partnership vs Proprietorship, visit https://www.legalraasta.com/

1. YOUR ONLINE COMPANION FOR COMPANY, TAX AND LEGAL MATTERS.
WWW.LEGALRAASTA.COM
LLP VS PVT. LTD. VS OPC VS
PARTNERSHIP VS PROPRIETORSHIP

2. TYPESOFBUSINESSFORMATION
TYPES OF BUSINESS FORMATION
If you are new to business and unable to decide whether to be a sole proprietor or in partnership or be in
partnership but with limited liability (LLP) or opt to start as a private company or be the one person
company with all the advantage of private company, then it is better to have a quick glance at each of the
five concepts and the difference between them. The decision must be taken keeping in mind the
investment, size of business, no. of members and the risk taking the ability of the promoter. Below is the
list of differences between Proprietorship, Partnership, LLP, Pvt. Ltd Company and OPC are as follows:

3. MINIMUMREQUIREMENTS
Minimum Requirements for Company Registration
• No formal registration for Proprietorship.
Proprietorship
• Registration is optional.
• Registered under Partnership Act, 1932.Partnership
• Registered with Ministry of Corporate Affairs.
• Registered under Limited Liability Partnership Act, 2008.
Limited Liability
Partnership
• Registered with Ministry of Corporate Affairs.
• Registered under Companies Act, 2013.
Private Limited
Company
• Registered with Ministry of Corporate Affairs.
• Registered under Companies Act, 2013.
One Person
Company

4. Proprietorship
• Owners choice of
names
can be named.
• No approval is
required
Partnership
• Owners choice of
names can be
named.
• No approval is
required
Limited Liability
Partnership
• Name must not be
illegal, offensive,
identical or similar
to existing
company or
registered
trademark.
• Name must be
approved by
the Registrar of
Company (ROC).
Private Limited
Company
• Name must not be
illegal, offensive,
identical or similar
to existing
company or
registered
trademark.
• Name must be
approved
by Registrar of
Company (ROC).
One Person
Company
• Name must not be
illegal, offensive,
identical or similar
to existing
company or
registered
trademark.
• Name must be
approved
by Registrar of
Company (ROC).
NAMEOFTHEENTITY
Name of the Entity

5. LEGALSTATUSOFENTITY
Legal Status of Entity
Proprietorship
Partnership
Limited Liability Partnership
Private Limited Company
One Person Company
• Not considered as a
separate legal entity
• Not considered as a
separate legal entity
• Considered as a separate
legal entity.
• Considered as a separate
legal entity
• Considered as a separate
legal entity

6. MEMBER’SLIABILITY
Member's Liability
Proprietorship
• Unlimited liability
• Responsible for all the liabilities of business
Partnership
• Unlimited liability
• Responsible for all the liabilities of partnership
Limited Liability Partnership
• Limited Liability
• Liable to the extent of shares/amount invested in the LLP
Private Limited Company
• Limited Liability
• Liable to the extent of share capital of the company
One Person Company
• Limited Liability
• Liable to the extent of share capital/capital invested in the company

7. MINIMUMNO.OFMEMBERS
Minimum No. of Members
Proprietorship
• Can have only 1
member
Partnership
• At least 2
person are
required
Limited Liability
Partnership
• At least 2 persons
are required
Private Limited
Company
• At least 2 persons
are required
One Person
Company
• At least 2 persons
are
required (Director
and Nominee
Director

8. MAXIMUMNUMBEROFMEMBERS
Maximum Number of Members
Proprietorship
• Can have only 1 member
Partnership
• Maximum 20 people can be partners
Limited Liability Partnership
• Can have unlimited no. of members
Private Limited Company
• Maximum 200 people can be members
One Person Company
• Maximum 2 people (Director and Nominee Director)

9. REGISTRATIONCOST
Registration Cost
One Person Company
Online companies like LegalRaasta offer Registration at an all-inclusive price of Rs.12,499/
Private Limited Company
Online companies like LegalRaasta offer Registration at an all-inclusive price of Rs.13,999/
Limited Liability Partnership
Online companies like LegalRaasta offer Registration at an all-inclusive price of Rs.7,999/
Partnership
Online companies like LegalRaasta offer Registration at an all-inclusive price of Rs. 2,199/
Proprietorship
Online companies like LegalRaasta offer Registration at an all-inclusive price of Rs.2,999/-

10. ABOUTLEGALRAASTAANDTEAM
About us
We are committed to helping you grow your business and add value through our expertise. We aim to deliver a hassle-free experience so
that you can focus on your core business.
Our mission is to offer affordable, quick and automated professional services to clients. Through technology, we bring numerous
government/ legal forms at one place and have simplified them to be fully understood by common man. Legalraasta.com is a one
destination for your legal matters relating to:
1. Forming any type of business entity (e.g., Pvt. Ltd Co, LLP etc)
2. Filing individual and company return
3. Helping on company compliances such as ROC filings & minutes
4. Protecting work through trademark & copyright
Our team
LegalRaasta.com has been founded by a team of Chartered Accountants and professional advisors. We currently have a
network of 100+ professionals including experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants,
Chartered Engineers and Bankers.
Pulkit Jain, founder of Legalraasta, has over 5+years experience in CA and Legal domain. He has worked with the top CA firms
in India and has served large corporate and MNCs

11. WHYCHOOSEUS
Cost effective
Businesses are always under intense time and cost
pressures. With our great packages 40% savings are
ensured compared to typical CA/ Lawyer
Expertise
By teaming up with us , you will have an access to
network of 100+ experts. You can gain the peace of
mind in knowing that your accounting tasks are done
properly by qualified, experienced and knowledgeable
professionals in the field.
Easy Online Process
You don’t have to deal with the typical
headaches involved with face to face meeting
and visiting government offices. Our process is
100% online. Fill out simple forms – and you are
done!!
Trusted
We are a trustworthy partner which has been
serving startups & companies for past several years.
Our growth numbers stand as a testimony:
• 200+ clients
• 100+ services
• 30+ testimonials
Partner/ Affiliations
We are an e-filing intermediary and have been facilitating filing of
hundreds of e-returns. We are also registered with e-mudhra for
issue of Pan cards. There are multiple other associations with CA
& legal firms.
Our site has been secured by SSL to protect your personal &
payment details

12. CONTACTUS
Corporate office
B-186, Lok Vihar, Pitampura, Delhi 110034 India
Our team always endevour to serve you best. Feel free to reach out to us at:
www.legalraasta.com
Mail: contact@legalraasta.com, M: +919999379929