Starting a business in India takes 15 to 30 days, depending on whether you choose a private limited company, one-person company (OPC), limited liability partnership (LLP), partnership or sole proprietorship. The key factors to base your decision on are the funding support the business structure provides, start-up costs, the compliance work involved and the tax advantages offered.
The best option for start-ups, as it is the only business structure that can raise funding from venture capitalists. An added bonus is that promising employees can also be given equity stake in a company via ESOPs.
An OPC, as the name indicates, has just one partner, but enjoys nearly all the advantages of a private limited company (though raising funds would be tough).A major drawback, however, is that it must be converted into a private or public limited company in case revenues cross Rs. 3 crore.