Benefits of business registration in India- Bangalore
In India the process of registering a business is not much hectic to practice for the startup companies. Analyzing the unregistered business count in the world India has the Second highest position with 127 unregistered businesses to each registered business. Many people in our country have their thought like registering a business seems to be the costlier one and that have to take more time to complete the process. Awareness about the business registration is the most vital factor to run the regular based business activities. So we Corproots in Bangalore providing our awesome service for every startup business persons to earn a profitable and secured market place.
Basic knowledge about the business setup is enough to follow us for more details regarding the registration process. Registering a business in any field can give you complete legal support with protection of company’s asset and brand name. Many are still not aware about the benefits of business registration procedures in India that can help the growth of various business sectors. Here we are able to give you details regarding the business registration in India that gives you benefits.
Benefits of business registration:
· As LLP Company the company liabilities can be limited
A business can be formed by any individual heading the activities or the associated members. So simply the business asset and the individuals who are involved in the company can able to protect to avoid the liability problems. So a limited liability concern can help the company liability issues that should not affect the personal risk of the members.
· Ownership share transfer ability
It is easy to share the ownership for a registered business entity whenever necessary based on the basic regulations followed in normal company or LLP type of businesses. Unregistered business entity have their limitations towards the share transfer process with restricted and difficult evaluation in the assets that belongs to the firm. So making company registered can help for the easy share transfer process.
· Bank account is the legal proof of existence
As the registered companies in India follows the custom regulations as per the company’s Act particularly in the case of bank account. It is important to produce the bank account details in the name of the company or LLP as a proof of existence for the legal aspect. Unregistered companies have their problem of opening bank account in the company name through various tax registration procedures. In the case of registered business entities can open the account easily as they are already established the firm with the Ministry of corporate affairs enclosing the company incorporation certificate and the Memorandum of Association (MOA). So the rules in the legal side can able to protect the business activities in several ways to maintain the existence of the company in the market. A local proof for the company establishment is this bank account and it can be made once your company is registered.
· Business fund raising
Financial requirements of a Company can raise at any instant of time during the business activities. It is understood that any company which is not legally supported will have least importance for the fund raising when approaching banks. So an established company have their reputation for the request of lending money when required can be easily processed with the legal form registered business.
