It is one of the most sophisticated forms of business entities in India. Here, business assets are separated from personal assets. Every shareholder is just responsible for his share of the total capital. Pvt Ltd Companies need to maintain records of financial transactions, board meetings, and annual reports, and so on.
A Pvt Ltd company consists of a group of shareholders and the total capital of the entity is made up of shares. These shares can be sold/transferred to another individual who then also becomes one of the owners of the company.
Private Limited Company can be of three types:
i) A company limited by shares – A company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them.
ii) A company limited by guarantee – A company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound-up.
iii) Unlimited company – A company not having any limit on the liability of its members.
What is the Procedure for Business Setup in Abu Dhabi?拉姆拉丹瑜伽士2020-09-16T11:58:49+05:30
It behooves you to gain a clear understanding of your intended business activity before initiating the procedures, since legal procedures and fees may vary depending on the nature of your business.
2. Find a Local Sponsor
As per the UAE jurisdiction, foreign companies need a local sponsor (a service agent or a company owned by UAE nationals) to open a branch office in Abu Dhabi, who will facilitate the necessary licenses for the branch office without bearing any liability to capital contribution or losses.
3. Determine the Legal Form of Business
Rules and regulations are different for different ownership types and business establishments. You need to select a legal entity type to run your business under.
4. Register Your Trade Name
A trade name distinguishes a business and represents its nature and legal form. We help our clients in not only setting up a business in Abu Dhabi but also in registering a trading name from the list of registered trade names provided by the Department of Economic Development (DED).
5. Fulfill Licensing Requirements
What is Limited Liability Partnership LLP?拉姆拉丹瑜伽士2020-09-16T12:23:48+05:30
With the concept introduced in 2009, an LLP functions as a structured business model. It is a separate legal entity from the partnership entity and business assets are separate from the personal assets of the partners. In case the business incurs losses, the personal assets of partners are not put at risk as the maximum liability of every partner is defined by his share capital in the entity.
Compared to Partnership and Sole Proprietorship, Limited Liability Companies always have better credibility among investors. The main reasons include proper maintenance of financial records, incorporation records, and tax records.
How to register a company in china ?拉姆拉丹瑜伽士2020-09-16T12:28:34+05:30
Going through the procedure of Company registration in china, you will realize that it is not at all simple to incorporate a company in China. So before deciding to incorporate a company in China, you need to consider the options, whether it is absolutely necessary to incorporate a company, or your project can be completed via an Umbrella company.
Umbrella Company is an entity in China that works for and on behalf of any foreign entity or individual who wants to do some business in China. It manages employees and your work on your behalf. Usually, it takes care of all your sales, marketing, import-export, or any other kind of consultant needs. It takes care of recruitment, salaries, accounts, etc.
In order to start a business in China in a less expensive manner, starting it as an umbrella company is the best option. Once you set your business on its feet, you can certainly set up your own company. However, this arrangement will only work if the business you are starting is of service. If the business concerned is of any other nature, you got to start your own company in China or get into a joint venture.
There are four major forms of business entity to register a business in China
Wholly Foreign-Owned Enterprise
Foreign-Invested Commercial Enterprise
Representative offices in China
Joint Venture Company registration in China
what is Wholly Foreign Owned Enterprises (WFOEs)?拉姆拉丹瑜伽士2020-09-16T12:31:46+05:30
Wholly Foreign Owned Enterprises (WFOEs) are in the form of limited liability companies, established under Chinese Company Law. It is a kind of organization where complete shareholding is of foreign individuals or entities. Only International business enterprises or foreign individuals (Citizen) can be shareholders in a Wholly Foreign-Owned Enterprise. Liability in a WFOE is up to the amount of registered capital injected into the business. Although the capital may in fact be a combination of two assets, cash injection and equipment, the total value of these also represents the extent of the WFOE’s liability.
The international investors wishing to manufacture, process, or assemble in China consider WFOEs the best investment vehicle. To establish a WFOE in China you don’t need a Chinese partner.No paid-up capital is required for foreign investors to establish a Consulting, Trading or Information Technology business etc. in China. Also, there is no need for large amounts of registered capital to fund – Manufacture WFOEs.
Minimum Registered Capital Requirement
Consulting WFOE RMB 100,000
Trading WFOE RMB 500,000
Manufacturer WFOE RMB 500,000
Suggested registered capital
Consulting WFOE > RMB 300,000
Trading WFOE > RMB 1,000,000
Manufacturer WFOE > RMB 1,000,000
what is the Process of Company Registration in China拉姆拉丹瑜伽士2020-09-16T12:35:31+05:30
To register a company in China, the applicant needs to submit an application for establishment registration to the relevant company registration authority in accordance with the Chinese Company law. If the application filed satisfies the establishment conditions provided for herein, the company registration authority shall register the proposed entity as either a limited liability company or a company limited by shares; if the field application does not satisfy the required conditions, the proposed entity shall not be registered as a limited liability company or a company limited by shares.
Where laws or administrative regulations specify that the establishment of a company shall be subject to approval, the relevant approval formalities shall be gone through in accordance with the law prior to the registration of the
The general public may apply to company registration authorities to inquire on company registration matters, and company registration authorities shall provide the inquiry services.
Company registration authorities shall issue business licenses of companies to the companies established under the law. The date of issuance of the business license for a company shall be the date of establishment of the company.
The business license of a company shall state therein such matters as the name, domicile, registered capital, business scope, and the name of the legal representative, etc. of the company.
Where any of the matters stated in the business license of a company is changed, the company shall go through the formalities for change of registration in accordance with the law, and the relevant company registration authority shall issue new business license to replace the old one.