Company Limited by Guarantee
Company limited by guarantee is also termed as Guarantee Company. In simple terms, it is a company without any shareholders, but it is owned by members called guarantors who agrees to pay a nominal amount in the event of the company being wound up. It is a specific form used for non-profit organization. Under this form, profits earned by the company are re invested again in the company to use it for different purposes. Hence, it is a legally preferred structure for non-profit companies, clubs, charitable trusts, and other similar set ups. A company limited by guarantee has a separate legal identity. It can carry out activities in the name of the Company such as employing human resources, borrowing credit, buying and selling of property and defending a lawsuit etc. Memorandum of Association is specifically drafted for such type of companies.
Compliance Services at Bizcruise
All companies registered in India are required to maintain compliance under various regulations. Failure to maintain compliance can lead to penalty or disqualification of the directors. Bizcruise can help you with accounting and maintaining of statutory compliances for the company at a very affordable price point. Some of the important compliances for companies registered in India are given to the right. Please note that additional forms will also be applicable as per government notification. Other than these mandatory compliances, there are others that need to be done depending on the company’s timeline. Bizcruise also assists in increasing authorized capital, changing registered office, change in directors and others.
- PAN card or Passport of all directors and shareholders.
- Voter ID/Driving license.
- DSC of Directors.
- DIN for all the Directors.
- Copy of latest bank statement/telephone/mobile bill/electricity/gas bill.
- Scanned passport-sized photograph specimen signature blank document with signature [Directors only]
- Sale deed/property deed (in case of owned property)
- NOC or rent agreement from the owner of the premises.
Due to the disadvantages mentioned above, this registration will be suitable only for small businesses and the unorganised sector with a limited period of existence.
SAME AS IT IS ON THE WEBSITE FOR PRIVATE COMPANY
SAME AS IT IS ON THE WEBSITE