Proprietorship Company Registration

Sole proprietorship| how to apply| Company registration?

Proprietorship company is the most common and simplest form of entity. A sole proprietorship is a type of business entity which is controlled and owned by one person. You don't have excess paperwork to start a sole proprietorship. But there are some important things you need to know before starting your journey in entrepreneur’s world. Sole proprietorship, according to the government of India is a “one-man organisation where a single individual owns, manages and controls the business.”

Proprietorship company is very easy to start and compliance requirements are very limited. There is no fees to be paid for starting a sole proprietorship company, and there is no government regulatory paperwork and compliance to be fulfilled. There are no minimum capital investment requirements, and proprietor has full control and ownership stake. A disadvantage of a sole proprietorship is that the owner of sole proprietorship is personally liable for all the business's accounts. In case the business runs into financial trouble, the owner will have to pay the business debts. with his or her own money.

Procedure of proprietorship company registration

  • Step 1
    Decide what type of certificate you are planning to register a sole proprietorship company in India.
  • Step 2
    Upload the documents required for online proprietorship registration
  • Step 3
    Documents which are required are PAN card of sole proprietor, Aadhar card of sole proprietor, Bank account details (Copy of canceled check or bank statement), Address proof of office
  • Step 4
    After submitting documents pay the required fees for the registration
  • Step 5
    After verifying all these documents you will get your certificate from the government department for the approval of your sole proprietorship company registration

Benefits of proprietorship company registration

Any sole proprietorship company is easy to incorporate as there is no mandatory requirement to register. The owner should have only GST registration

The cost of sole proprietorship is very low because the compliance requirements are also minimal

It is easy to shut down the proprietorship company because only sole person is in authority

Only one individual is required for sole proprietorship

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Documents required for proprietorship company registration

  • PAN card of the sole proprietor
  • Registration Proof of the business premise
  • Identity proof of the proprietor
  • Bank Account details
  • GST registration number/li>
  • Nature of the business

Frequently Asked Questions