What are the documents required for starting a Hr Consultancy company ? Here you need to First decide on the type of company you want to form. If we talk about types of companies there are 4 types of companies which you can form in India.
c) Private Ltd
d) Public Ltd
- Sole Proprietorship: A sole proprietorship also known as a sole trader or simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner. All assets of the business are owned by the proprietor and all debts of the business are his debts and he must pay them from his personal resources.
This is easiest and most affordable way to start an HR consultancy is to start it as a Sole Proprietorship firm. If you are starting alone I recommend you to start as a sole proprietor, because it’s easy to start and total control is in your hands. There aren’t too much formalities involved in this kind of company. You just need to get a letterhead printed in your company name, print some business card, get a proprietor stamp made in your company name. With that in your hand just go in any bank to get current account opened in your company name. Once you have started your proprietorship firm, you should have these documents handy with you.
- Letter Head with the name of company
- Visiting card
- Company Rubber Stamp
- Your PAN Card
- Address Proof (copy of telephone bill. Electricity bill)
- Rent Agreement if you are running from rented premises
- Current account in the name of your firm in any bank.
- Partnership: A partnership is a type of business entity in which partners (owners) share with each other the profits as well as losses of the business. Partnerships are often favored over corporations for taxation purposes, as the partnership structure does not generally incur a tax on profits before it is distributed to the partners
If you want to open partnership firm for your Hr consultancy, you will still need all the things needed in sole proprietorship but in addition to that you will be needing copy of partnership deed. In partnership firm all the partners will be the owners of the company based on the conditions mentioned in the partnership deed. A partnership deed can be executed by any lawyer.
- Private Limited: A private company is a type of company incorporated under the law of government of India. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of public limited companies. If you want to open a Private Limited company for your Hr consultancy you will need 2 persons as board of directors and you will need one auditor. For registering your Pvt. Ltd. Company, you can contact any of practicing CA in your area to do that.
- Public Limited: A public limited company is a type of limited company in the India which is permitted to offer its shares to the public.Its quite complex and can be chosen as a form to start your new Hr consultancy company. It is advised only when your existing company grows very big.
Once after deciding which type of company you want to register, you can proceed to register your Hr consultancy company. Proprietorship companies can be formed yourself, partnership company can formed with the help of any lawyer sitting in tehsils or courts and Pvt. Ltd. Company can be formed with the help of any practicing CA.
Hope this post proves to be helpful to you. For any query you can leave a comment.