Legal Acts with FCRA, LLP and Shop Act Registration take your Business into New Heights
When you start a business you need to realize that business these days run on various rules as well as regulations which are set by the government of that particular country. In the world of business, there exists a term called the fcra registration which basically means Foreign Contribution Regulation Act. This act had been implemented for the various NGO’s who would like to receive various foreign funds required for conducting their day to day activities as well as social programs.
The FCRA registration was first brought into existence in India in the year 1976. This was done so that the various NGO’s in the different parts of the country could be managed effectively. According to government rules, in order for an NGO to be eligible to receive funds, the NGO has to be registered under the FCRA act. NGO’s have the choice of choosing between two types of contributions. The first is a onetime contribution and the second is the regular interval one. In order to register your NGO you need to provide complete details of the name along with the total number of registered members and also the details of the registered office.
Apart from the FCRA there are various other registration acts for upcoming companies. There also exists the nbfc registration act which is the registration for a non business financial company, which is registered under The Companies Act. NBFC registration companies have functions which are very similar to the functioning’s of different banks. These companies make loans as well as advances to various business and individual customers.
Along with these various acts two other important acts exist. One of them, being the llp registration act, which also known as the limited liability partnership registrations act. The second is the shop act registration. Where you register your shop with the state, where the state governs over various issues relating to the shops in that particular state like the holidays and so on.
India, which has been slowly creeping up among the list of the hot spots for business in the world also promotes something which is known as equity joint venture. This is where two separate companies enter into an equity joint venture together. Basically the partners gain as well as lose according to the amount of equity shares that they have. Companies enter into this type of joint venture in order to diversify their risks, reduce their barriers to entry and also in order to create economies of scale.
The various acts and registrations like the LPP registration, shop act registration, etc, which are present in the country help to accelerate the business end of the country. They help in encouraging booming business and they also help to facilitate the upcoming ones. There are certain acts which you simply cannot ignore and then again there are ones which help to accelerate your business. Either way, these acts usually help your business to achieve new heights if you manage to make the best of them.
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