Proprietorship firm registration

THINGS TO KNOW BEFORE YOU REGISTER YOUR PROPRIETORSHIP FIRM

Get register your business as proprietorship firm same day any where in India. A sole proprietorship business does not have any specific registration requirements and it is easy to establish and operate and least compliances required. We at 1Stop.in provides you the services to register your firm at very reasonable charges.

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A sole proprietorship is owned and run by one person and there is no legal distinction between the owner and the business entity. It is possible for the sole trader to employ other people, there is no compulsion for sole proprietor to work alone. The sole proprietorship is 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.

Owners can establish a sole proprietorship instantly, easily and inexpensively.
Sole proprietorship carry little, if any, ongoing formalities.
Owners may freely mix personal and business assets.
Being your own boss is a great sense of satisfaction and achievement. You are answerable only to yourself and it is a great boost to your self-worth as well
Law does not require a proprietorship to publish its financial accounts or any other such documents to any members of the public. This allows the business to maintain confidentiality which is sometimes very important in the business world.
A proprietor will have complete control of the entire business, this will facilitate quick decisions

List Of Documents Required For Proprietorship Firm Registration

Adhar Card

PAN Card

Mobile Number and Email Id

Bank Account details

Business Address proof

a. Rent agreement and NOC from landlord in case of rented property.
b. If it is a Self-owned Property: Electricity bill or any other address proof.

Our Packages for Proprietorship Firm

Procedure Of Sole Proprietorship Firm

FAQ

Most Frequent Questions And Answers

WHO CAN START A SOLE PROPRIETORSHIP?

Any Indian citizen with a current account in the name of their business can start a sole proprietorship. Requirement of registration arises depending on what business you are planning to establish. However,banks typically require/demand a Shops & Establishments Registration to open a bank account.

WHAT BUSINESSES ARE COMMONLY RUN AS SOLE PROPRIETORSHIPS?

Most local businesses are run as sole proprietorships, from your grocery store to a fast food vendor, and even small traders and manufacturers. This is not to say that larger businesses do not operate as sole proprietors. Even some jewellery shops are sole proprietors, but this is not recommended.

WHAT DOCUMENTS ARE REQUIRED FOR STARTING A SOLE PROPRIETORSHIP?

To start a sole proprietorship, you would need address and identity proofs, PAN card, all KYC documents and rental agreement or sale deed (in case of Shops & Establishment Act Registration).

WHAT IF I WISH TO CONVERT FROM SOLE PROPRIETORSHIP TO PRIVATE LIMITED COMPANY OR PARTNERSHIP?

You can always choose to do so. The procedure is a little tedious, but it is possible. It is very common for sole proprietors to convert into partnerships and private limited companies at a later stage.

WHAT DOCUMENTS ARE NEEDED FOR OPENING A CURRENT ACCOUNT IN THE NAME OF MY SOLE PROPRIETORSHIP?

To open a current account, you need proof of the existence of your business. Most banks will ask for a Shops & Establishments Act Registration and GST Registration. In addition, you will need a PAN card and address and identity proofs.

CAN A PERSON BECOME PROPRIETOR IN TWO FIRMS?

Yes, You can have Multiple businesses if you are a sole proprietor.For example, if you wish to start a Franchise Business in India, they have a condition that your firm should be registered as a business entity other than a sole proprietorship. In thiscase, you can opt for Private or Public company regsitration.