Old Trend in India. private limited company require min 2 director and 1 lakh share capital and more compliance. Its a best for which start-up wane raise the funds from the investors. and sell out their share in the company.
Just require min. 1 persona but capital is the same as 1 lakh rupees. *if your budget is less than 5k- register under proprietorship or Partnership firms then when your business is grow, convert into LLP or Company. *if your budget is more than 5k and but less than 10k - register under LLP then if you wish that you want to choose pvt ltd then go for it for expansion. *if your budget is more than 16k and do wanna serious business then choose company as pvt ltd or opc and hire a good CA's who's take care of legal compliance of your company.
LLP is the new concept in India. in simple words its a mixture of Partnership and Company so it has a feature of Partnership and Company. its a best for Start-ups. its has many advantages as compare to private limited company. the main advantage for start-ups is capital requirements and compliances at the year ending. in a company many compliances have to filed to MCA but in LLP just 2 statements filed to ROC.