Cost: ₹2,299 /- only
FilingYug can help out with the registration of your proprietorship firm. To know more about the process, contact us.
A proprietorship is a common type of unregistered business entity in which one person owns, manages, and controls the company. The majority of unorganized sector micro and small firms prefer to register as a proprietorship.
Starting a sole proprietorship is simple, and there are few regulatory compliance requirements for running the business. Entrepreneurs who want to begin a small firm with a few clients can consider forming a proprietorship.
Who is a Sole Proprietor?
The owner of a Sole Proprietorship business is known as a proprietor. It is not a legal or corporate entity. The proprietor is the same legal entity as the proprietorship.
How to register your Sole Proprietorship firm in India?
In India, there are no formalities or registration requirements for forming a proprietorship firm. It is necessary to obtain a state/central government-issued business license. Furthermore, if the company name is unique, it is a good idea to register a trademark.
Business licenses are required for any permission, regardless of the type of entity. Before registering a Proprietorship in India, each applicant must first comprehend the regulatory structure surrounding the activity he desires to engage in and secures the requisite permissions. Authorities from the local, state, and central governments.
Tax registration should be obtained from the appropriate tax authorities, determined by the sort of activity the Proprietors get engaged with. GST registration, professional tax registration, and ESI/PF registration are all included in this.
In India, there is no registration for proprietorships. Unless and until the name conflicts with any trademark registration or other rules and restrictions, a proprietorship can normally operate under any name. So, it is better to avoid risk, and if a name feels right, the best option is to get it registered as a Trademark.
Documents needed
The complete registration process for a sole proprietorship can get accomplished online. All you have to do is to upload the following documents.
A partnership is a group of two or more people who work together as co-owners to run a business. A partner refers to each of these individuals. Profits and losses get split among the partners in proportion to their respective ownership stakes or mutual agreement.
An Importer-Exporter Code (IEC) is a critical business identifying number that should get used while exporting from or importing into India. Unless specifically exempted, no person may export or import without first obtaining an IEC.
The execution of the Trust deed might result in the formation of a trust, which is a wholly online operation. The Trust deed is the first step in the Trust registration process. It’s crucial to understand what trust is before diving into the details of the Trust Registration process.
