Key Benefits
- ✔ Provides limited liability protection, ensuring the proprietor's personal assets remain shielded from business debts and legal claims.
- ✔ Grants the status of a separate legal entity, allowing the business to enter into contracts and own property in its own name.
- ✔ Ensures perpetual succession, meaning the company continues to exist as a body corporate despite the death or incapacity of the member.
- ✔ Facilitates structured tax planning through deductible expenses like director's remuneration and rent, which are not available in a proprietorship.
- ✔ Enhances bankability and creditworthiness, making it easier to secure corporate loans and CC limits from financial institutions.
- ✔ Increases market credibility and professional image, making the business more attractive to large vendors, corporate clients, and tenders.
- ✔ Protects the business brand and name through mandatory registration under the Companies Act, providing a stronger legal foundation.
- ✔ Simplifies future scalability by providing an easy conversion pathway to a Private Limited Company as the business grows.
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