Company Registration

Company Registration in Kerala (Private, Public, One Person)

Company formation is the process of incorporating or registering a business as a limited company. When this happens, the business becomes a distinct legal entity – an individual ‘person’ in the eyes of the law. Through company formation, the company can sell, buy and hold property in its own name. It provides for easy ownership transfer and, because it is a separate company, there is no accountability for its members.

Choosing the best company structure for your firm is just as crucial as any other business decision. The appropriate structure will help your business to run smoothly, accomplish your business objectives, and it is also crucial because your income tax returns will be based on it. The available incorporation options are the following:

• • One Person Company (OPC)
  • Private Limited Company (PLC)
  • Public Limited Company

Fobup is well organized to offer reliable and responsive consultancy services, to help you choose the right business structure and assist you through the whole registration process. We take care of all legal formalities and fulfill the compliance, as defined by the Ministry of Corporate Affairs. We help to facilitate the whole procedure of Company Registration in Kerala, at earliest as possible with timely updates.

LLP Company Registration in Kerala

Limited Liability Partnership or LLP has become a preferred form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. The LLP agreement governs the rights and responsibilities of chosen partners. They are directly responsible for the compliance of all the provisions of the Limited Liability Partnership Act of 2008 and provisions specified in the LLP agreement.

Benefits of LLP Formation:

• • The minimum number of partners in an LLP is two, while the maximum number of partners is unrestricted.
  • When compared to the expense of forming a private limited or public limited company, the cost of forming an LLP is cheap.
  • The cost of registering LLP is low as compared to the cost of incorporating a private limited or a public limited company
  • Dividend Distribution Tax (DDT) not applicable and profits of an LLP can be easily withdrawn by the partners
  • LLP can be formed with the least possible capital as minimum capital requirement is not applicable.
  • LLP is required to get the tax audit done only if the contributions exceeds Rs. 25 lakhs, or the annual turnover of the LLP exceed Rs. 40 lakhs.

Fobup can guide you choose, whether to go with LLP or not and assist you in the registration process. We also extend our services to notify and fix every possible legal hazard you may come across. Even if the LLP does not have any activity in the year, it is required to file returns with the Ministry of Corporate Affairs (MCA) annually. A significant penalty will be levied on the LLP if it fails to file the returns. We help you gain complete awareness regarding the advantages, disadvantages, registration, functioning and regulation. We are acknowledged in the industry as a well performing firm in presenting LLP Company registration in Kerala.

Company Winding Up

Winding up a company is the legal process of shutting down a business and terminating its ongoing operations. Its primary function is to liquidate shares, settle debts, and transfer any leftover assets to partners or shareholders. The corporation will have no assets or obligations at the completion of the process. It can be either:

• • Compulsory winding up of a company
  • Voluntary winding up of a company

If a company doesn’t file the compliance on time, there incurs fine and penalty including debarring the directors from starting another company. In that way it is better to wind up a company that is inactive and avoid the potential fines or liability in the future. The dissolution of a corporation occurs after all of the firm’s affairs have been completed. The company’s name is stricken from the register of companies upon dissolution, and its legal identity as a corporation is terminated.

A company can also be closed by filing an application with the Ministry of Corporate Finance in about 3 to 6 months. Fobup facilitates the required procedures of winding up a company in a fast manner, allowing you a hazard-free shut down.

ROC Filing

ROC filing is the mandatory filing of audited financial statements, and annual returns, by the company to the Register Of Companies (ROC). ROC functions under the Ministry of Corporate Affairs (MCA), which controls the entire administration of all companies and Limited Liability Partnerships (LLP).

With the computerized mark of the Director of the Company and the advanced mark of the Chartered Accountant reviewing the company, the ROC annual return of a company can be documented. It shall be filed before 30th October, every year. The documents to be filed are Balance Sheet & Profit & Loss Account, Annual Returns and Compliance Certificate.

The ROC Filing procedure involves:

• Maintaining Book of Accounts
• Preparing Financial Statements of the Company
• Appointing Auditor for the Company
• Statutory Audit of Pvt Ltd Company Financial Statement
• Conducting Annual General Meeting
• Annual Filing of Company

Once, the Annual General Meeting is finished and the audited financial statements are accepted by the Company, it must be documented with the Registrar. That shall be done within 60 long periods of the date on which the annual general meeting of the company was held.