Amtronics's current development in the Tech City:
Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC. .......... Dr. Tony Balchin meant ahead of the completion of the Display, Solar, LED Lighting manufacturing onsite complex in Block 6, 7 of Tech City whose construction has started after receiving funding from the Assam government in December.
https://www.globenewswire.com/news-release/20...India.html
https://amtronicsindia.com/
Amtronics CC is a South Africa based Close Corporation. It operates in India under the name Amtronics LLC.
A close corporation (or CC) is a type of South African legal entity which was usually chosen for smaller businesses. Under the new Companies Act of 2008, close corporations can no longer be registered and they will be phased out over time
A close corporation is a legal entity much like a company. A CC is run and administered by its members, who must be natural persons (i.e. not other legal entities). A close corporation’s members are like a company’s shareholders. In the past, the members of a close corporation usually chose the entity because it was cheaper and easier to administer than a private company ((Pty) Ltd). The business could be mature or a start-up, but it could only have a maximum of 10 members. In the past, companies used to have many regulations and requirements that made the entity difficult for small businesses. These extra requirements made the close corporation a much more attractive business form.
The new Companies Act does not allow new close corporations to be registered anymore, but close corporations that already exist are still valid entities. If you are looking for an entity to govern your new business, you will need to register a company. The distinction between a CC and a company is being phased out, and private companies now offer many of the same benefits (and sometimes more) as old close corporations. It is easy to convert a CC to a company, and many larger close corporations have done so. In future, there will simply be small (old CCs and private companies) and large companies.
Eventually every CC has to do the conversion to Private Company. It is no longer possible to register a new close corporation or CC. However, you can carry on trading under a CC that existed before 1 May 2011. But CC’s will slowly become extinct and every CC will (at some point) have to be converted into a private company ‘(Pty) Ltd’. Many people choose a CC (and still prefer a CC) because a CC gave them the advantages of incorporation, with lower costs and simpler administration. Virtually all the advantages that a CC had, can now also be obtained by having a private company under the new Companies Act. For example:
the annual return fee is the same regardless of whether you have a CC or a company
small private companies do not need to be audited or produce audited financial statements
small private companies do not need to convene an annual general meeting (AGM)
Some argue that there are actually more advantages to being a private company rather than a CC.
Compete with bigger companies in the same market.
Invite other parties to invest as shareholders in your business.
Raise more capital to grow your company.
Enable companies and CCs to be shareholders in your business.
Benefit by being regulated by a law (the new Companies Act) that is up-to-date with international best practice.
Administer your company electronically.
Ensure that the rights, duties and responsibilities of members are clearly set out.
Avoid disputes between members.
We can prepare the documents you need to do this and help you with the process. By using our service you can:
save time by doing it faster,
save money by getting it right and not have to repeat the same steps a number of times.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
LLC is the abbreviation for limited liability company. LLCs are relatively new business structures that combine the features of a corporation and a partnership, specifically the tax benefits of partnerships and the liability protections of a corporation. State governments regulate LLCs, and restrictions on LLC names and abbreviations vary from state to state.
Business structures similar to LLCs have been in use in Europe since the nineteenth century. However, LLCs in the United States did not appear until the late 1970s. The state of Wyoming enacted the first LLC law in 1977, providing the first legal definition of the structure. Other states were slow to create LLC laws as they waited for the Internal Revenue Service to decide on how to treat LLCs for tax purposes. LLCs can now choose to be taxed as sole proprietorships, partnerships or corporations.
The "limited liability" in LLCs refers to the fact that owners, called members, are protected from personal liability for the business actions of the company. Consequently, if the LLC is sued or runs up debt, the personal assets of members cannot, in most cases, be used to satisfy claims from plaintiffs or creditors. This is a feature that LLC members have in common with the shareholders of corporations. However, liability is "limited" because members are not immune to suits involving civil wrongdoing, also known as a tort.
Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC. .......... Dr. Tony Balchin meant ahead of the completion of the Display, Solar, LED Lighting manufacturing onsite complex in Block 6, 7 of Tech City whose construction has started after receiving funding from the Assam government in December.
https://www.globenewswire.com/news-release/20...India.html
https://amtronicsindia.com/
Amtronics CC is a South Africa based Close Corporation. It operates in India under the name Amtronics LLC.
A close corporation (or CC) is a type of South African legal entity which was usually chosen for smaller businesses. Under the new Companies Act of 2008, close corporations can no longer be registered and they will be phased out over time
A close corporation is a legal entity much like a company. A CC is run and administered by its members, who must be natural persons (i.e. not other legal entities). A close corporation’s members are like a company’s shareholders. In the past, the members of a close corporation usually chose the entity because it was cheaper and easier to administer than a private company ((Pty) Ltd). The business could be mature or a start-up, but it could only have a maximum of 10 members. In the past, companies used to have many regulations and requirements that made the entity difficult for small businesses. These extra requirements made the close corporation a much more attractive business form.
The new Companies Act does not allow new close corporations to be registered anymore, but close corporations that already exist are still valid entities. If you are looking for an entity to govern your new business, you will need to register a company. The distinction between a CC and a company is being phased out, and private companies now offer many of the same benefits (and sometimes more) as old close corporations. It is easy to convert a CC to a company, and many larger close corporations have done so. In future, there will simply be small (old CCs and private companies) and large companies.
Eventually every CC has to do the conversion to Private Company. It is no longer possible to register a new close corporation or CC. However, you can carry on trading under a CC that existed before 1 May 2011. But CC’s will slowly become extinct and every CC will (at some point) have to be converted into a private company ‘(Pty) Ltd’. Many people choose a CC (and still prefer a CC) because a CC gave them the advantages of incorporation, with lower costs and simpler administration. Virtually all the advantages that a CC had, can now also be obtained by having a private company under the new Companies Act. For example:
the annual return fee is the same regardless of whether you have a CC or a company
small private companies do not need to be audited or produce audited financial statements
small private companies do not need to convene an annual general meeting (AGM)
Some argue that there are actually more advantages to being a private company rather than a CC.
Compete with bigger companies in the same market.
Invite other parties to invest as shareholders in your business.
Raise more capital to grow your company.
Enable companies and CCs to be shareholders in your business.
Benefit by being regulated by a law (the new Companies Act) that is up-to-date with international best practice.
Administer your company electronically.
Ensure that the rights, duties and responsibilities of members are clearly set out.
Avoid disputes between members.
We can prepare the documents you need to do this and help you with the process. By using our service you can:
save time by doing it faster,
save money by getting it right and not have to repeat the same steps a number of times.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
LLC is the abbreviation for limited liability company. LLCs are relatively new business structures that combine the features of a corporation and a partnership, specifically the tax benefits of partnerships and the liability protections of a corporation. State governments regulate LLCs, and restrictions on LLC names and abbreviations vary from state to state.
Business structures similar to LLCs have been in use in Europe since the nineteenth century. However, LLCs in the United States did not appear until the late 1970s. The state of Wyoming enacted the first LLC law in 1977, providing the first legal definition of the structure. Other states were slow to create LLC laws as they waited for the Internal Revenue Service to decide on how to treat LLCs for tax purposes. LLCs can now choose to be taxed as sole proprietorships, partnerships or corporations.
The "limited liability" in LLCs refers to the fact that owners, called members, are protected from personal liability for the business actions of the company. Consequently, if the LLC is sued or runs up debt, the personal assets of members cannot, in most cases, be used to satisfy claims from plaintiffs or creditors. This is a feature that LLC members have in common with the shareholders of corporations. However, liability is "limited" because members are not immune to suits involving civil wrongdoing, also known as a tort.
