It is very easy to set up Proprietorship firm, We only new PAN card and adhaar card to register firm
From ₹ 3099 /- all inclusive fees
EMI: ₹277 for 12 months*
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name, such as "XYZ Salon". The fictitious name is simply a trade name,it does not create a legal entity separate from the sole proprietor owner.
The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost. A sole proprietor need only register his or her name and secure local licenses, and the sole proprietor is ready for business. A distinct disadvantage, however, is that the owner of a sole proprietorship remains personally liable for all the business's debts. So, if a sole proprietor business runs into financial trouble, creditors can bring lawsuits against the business owner. If such suits are successful, the owner will have to pay the business debts with his or her own money.
In this type of entity single owner can work but in all other entities at least two owners or partners must be there.
To create sole proprietorship firm only some simple registration and current bank account is required for business. Registration may be Shop establishment Act, GST registration or MSME registration
For registration of sole proprietorship firm only few documents like PAN card, Adhaar Card, Bank Passbook and Address proof is required
In income tax act there is slab rate for individual and this slab benefit is also available for proprietorship firm, because in the eyes of law proprietorship and individual is one and same thing
If business are in loss or by any other reason we need to exit from the business then single click cancelation of registration is possible. Proprietor need not to wait for long time.
Individual PAN card is required for registration. In proprietorship no separate PAN card will applied
For proprietorship registration we need Adhaar card of individual ( Some time Voter ID may work ) for address of individual.
Bank account details is required for registration. We need Passbook first page and latest statement. Also provide us Bank account number, IFSC code and Branch name
For business address proof we need Electricity bill, rent agreement or any other government utility bill
Proprietorship firm registration with MSME under udhyog adhaar and GST registration. above documents are sufficent for opening current bank account
proprietorship firm registration with msme under udhyog adhaar and gst registration along with one year gst billing software.
proprietorship firm registration with msme under udhyog adhaar and gst registration along with one year gst software and trademark application
Ovakil helps you for registering Proprietorship business,it usually take 2-3 days for all process
Any Doubts? Get a Callback from Ovakil Legal Panel.
For proprietorship registration there are many type of registrations. Shop establishment one of them, the process of this registration is different in every state of India
This registration will take 2-3 days and GST registration is sufficient to open current account for business
Udyog Aadhaar is a registration for all micro, small and medium sized businesses. This registration along with a GST registration can be used for opening of bank account.