Sole Proprietorship Firm Registration

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Register your Sole Proprietorship Firm in India

​Sole Proprietorship Firm Registration is Single Person Firm Registration i.e is the main objective is Open Current Bank Account on the Name of Business so it’s a simply firm which is enable doing business in India with Less Compliance and Less Costing. a Sole Proprietorship Firm require minimum 2 Legal Entity Proof for open a Current Bank Account.

Key Features of Proprietorship Firm

  • 1 Person Required as Single Entrepreneur.
  • Single Owner of the Business.
  • Easy to Start and Easy to Close.
  • Complete Control.
  • Lower Cost of Formation and Compliance.

Disadvantages of Proprietorship Firm

  • Lack of Resources.
  • Unlimited Liability.
  • Lack of Credibility.
  • Can not raise funds easily.
  • Can not add Partners.
2 Legal Entity Proof for the Sole Proprietorship Firm in India

Option 1 :  MSME Registration Certificate + Chartered Accountant Business Certification. ( It’s accept by only some co operative and small banks. Confirm with your bank for the same).

Option 2 :  GST Registration which is required in below anyone conditions –
#1 deal inter state sales or services.
#2 Ecommerce or internet based business.
#3 Trader or Retailer or Mfg or Aggregator
#4 Within state have more than 20 lakh rupees turnover.

*Turnover limit of the GST is applicable only in within state.

Documents Requirements-

  • ID Proof and Address Proof for all Partners. as id proof PAN Card  is Mandatory.
  • latest utility bill (electric bill/telephone bill) or latest tax receipt/ownership deep of the property  for the property to be used for registered office.​

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