These FAQs are based on Project Fin service information and are meant to guide the first consultation.
Usually 7-10 working days once documents are in order.
Private Limited CompanyYes, provided at least one director is a resident of India and NRI documents are notarised/apostilled.
Private Limited CompanyTwo designated partners, at least one of whom must be resident in India.
Limited Liability PartnershipYes, it must be filed with the Registrar within 30 days of incorporation.
Limited Liability PartnershipOnly one shareholder is allowed, though additional non-shareholding directors can be appointed.
One Person CompanyYes, a nominee must be named to take over in case of the sole member's death or incapacity.
One Person CompanyNo single certificate exists; GST, Udyam, or Shop & Establishment registration typically serves as proof.
Sole ProprietorshipYes, using any of the above business registrations as proof.
Sole ProprietorshipGenerally a minimum equity capital of Rs. 5 lakh, with net owned funds of Rs. 10 lakh required within the first year.
Nidhi CompanyAt least 7 members, of whom 3 must be directors.
Nidhi CompanyOnly primary producers or producer institutions, as defined under the Companies Act.
Producer CompanyA minimum of 5 directors (maximum 15).
Producer CompanyTrusts suit charitable estates, Societies suit membership-based associations, and Section 8 Companies suit NGOs seeking a corporate structure and easier CSR/funding access.
NGO RegistrationYes, 12A and 80G registration with the Income Tax Department is required separately for tax benefits.
NGO RegistrationNo, but an unregistered firm cannot sue third parties to enforce contractual rights, so registration is recommended.
Partnership FirmMinimum 2, maximum 50 partners.
Partnership FirmA private trust can generally be revoked per the Trust Deed terms; a public charitable trust is usually difficult to dissolve.
Trust RegistrationMandatory for trusts holding immovable property, and recommended generally to claim tax exemptions.
Trust RegistrationAt least 7 members are required (may vary slightly by state).
Society RegistrationBy a managing/governing committee elected as per its bye-laws.
Society RegistrationNo, registration on the official government portal is completely free.
MSME RegistrationYes, it updates automatically based on investment and turnover data linked to PAN/GST.
MSME RegistrationBasic Registration, State License, and Central License, based on business turnover and scale.
FSSAI [Food License]Issued for 1 to 5 years, chosen at application, and must be renewed before expiry.
FSSAI [Food License]