Best Company Law Services LLP FCRA NBFC

LLC is the abbreviation of Limited Liability Company. It is often misinterpreted as limited liability Corporation, however in the real sense it is incorporation and not a corporation. An LLC gives a business owner the benefits of both being the owner and at the same time without the expected amount of risk, which otherwise a business owner would have. A company who has the LLC registration may be a sole proprietorship or a corporation of more than one member. The procedure to obtain an LLC registration is more or less same in all the countries which have the law to provide this registration.

A limited liability partnership registration or the LLP registration is the registration of those members of the LLC who want to act as partners in it. An LLP registration can very well limit the risks and responsibilities from the shoulders of each partner. Like a corporation have partners in the form of shareholders, the concept of LLP is somewhat similar in terms of risk and profit sharing. Only difference comes in the fact that here the partners participate in the functioning of the company. To get an LLP registration one needs to register themselves on the website of Ministry of corporate affairs, fill the form and upload their digital signatures and a certificate for the same once these steps are carried out successfully the member receives a message of successful registration and also receives a DPIN number.

NBFC is the non banking financial company. These are the companies which are registered under the company's act 1956 of India. And these companies are engaged in the financial functions of any businesses such as loans, shares, bonds, debentures, insurance business or chit business etc... To get an NBFC registration one has to apply to the RBI to obtain an NBFC certificate. There is a list of documents which are mentioned and which need to be submitted along with the application to RBI. These documents to be attached need not be original, just a copy of them would suffice. After the verification of these documents RBI grants the application and provides the registration for the same.

FCRA registration is Foreign Contribution Regulation Act Registration. There are two ways of getting an FCRA registration in India. The respective forms are known as F.C. 8 and F.C. 1A. The former form is for unrestricted contribution, while the latter form is for the limited or specific contribution by the donor. A foreign contribution means the donation, delivery or transfer of things like foreign security or currency, or bestowing gifts worth more than a thousand rupees by any foreign source. And a foreign source is the government of any foreign country, company, agency, or citizen.

Pan registration is the permanent account number. An individual having a PAN card registration need not carry any other identification except for a few cases. A PAN card number suffices to prove the identity of a citizen of India, and all banks and financial institutions respect this card for any kind of financial or individual validation required. For the payment of income tax, indirect taxes or accounting PAN registration is enough and mandatory.