Entrepreneurs who want to register their business are often overwhelmed by a number of common misconceptions about the process. They struggle to register their business because they are intimidated by legal procedures. Owners of a business need to be aware of a few myths before registering it. When it comes to the legal process, this article dispels the common misconceptions about the opc registration process.
Investment of Shares
It is completely false to assert that only natural persons can be shareholders or owners of a company. Consolidated organizations can put resources into different enterprises since they are “fake people”.
The Company’s Share Capital
It is incorrect to assume that the company’s shares must be deposited in a bank upon incorporation.A Private Limited Company will undoubtedly provide entrepreneurs with the greatest flexibility. Changes to the business’s capital, official address, and many other aspects can be made immediately after incorporation.
Legal Department Upkeep
Is Considered Expensive In a business, upkeep of the legal teams is thought to be very expensive. Accounting and tax returns are relatively inexpensive procedures. Skilled accounting professionals can provide the services of chartered accountants and company secretaries at a reasonable cost.
Renewal of the Registration
Is it necessary to annually renew the registration of a company whose registration is entirely false? In essence, the business is only registered once. Until the company is wound up, it will continue to exist. Fraudsters who want more money are not trustworthy, so don’t believe them. The annual returns need only be submitted to the ROC (Registrar of Companies) and the income tax department.
It is no longer necessary to meet that requirement
So company incorporation can be done more cost-effectively as well. Incorporating a private limited company takes time and money. In addition, our services make it simple, convenient, and cost-effective to incorporate your Private Limited Company.
A company’s future greatly depends on the structure it chooses. Before making this decision, it is essential that you take into account every facet of your business. Like any other business structure, private limited companies have their own advantages and disadvantages. Pick a software that meets your business’s needs and steer clear of software myths.