Startup

Sole proprietorship is one of the oldest and easiest Business Structure to start in India. A proprietorship is a type of business that is owned, managed, and controlled by one person – who is the proprietor. As the proprietorship and proprietor are one and the same, it is very easy to start and there are very minimal compliance requirements.

As the proprietor and the business are one and the same, a proprietorship cannot have other partners or shareholders. Further, there is no limited liability protection for the proprietor from the business activities conducted in the sole proprietorship. Hence, this type of business entity is best suited for every small businesses with no more than 5 employees.

IndiaFilings can assist you in registering for a Sole proprietorship, a simple and efficient business structure that is ideal for solo entrepreneurs. With our expert guidance and streamlined process, you can start your proprietorship firm registration online quickly and hassle-free. Start your Sole Proprietorship registration with us and unlock the potential of your business ideas.

Sole Proprietorship registration in India follows a unique approach, as there isn’t a dedicated government-established registration process for this business structure. Instead, a proprietorship firm registration online gains recognition through tax registrations mandated by relevant laws and regulations. One pivotal tax registration is the GST (Goods and Services Tax) Registration, which must be secured under the proprietor’s name to formalize the business’s proprietorship status. This sole proprietorship registration signifies that the proprietor is conducting business within the framework of a proprietorship.

GST registration for a proprietorship will be obtained by IndiaFilings as a part of the service. The following documents are required for GST registration:

  • Permanent Account Number (PAN) of Proprietor
  • Digital Signature Certificate of the Authorized Signatory
  • Consent by Proprietor for obtaining GST Registration
  • Photograph of Proprietor and Authorized Signatory
  • Bank Account Details: A scanned copy of a cancelled cheque with the business entity’s name, bank account number, MICR, IFSC, and branch information.
  • Declaration / Authorization to Authorized Signatory
  • For commercial purposes, the rent / lease agreement should be in the name of the proprietor.
  • Additional documents such as Aadhaar Card, Driving Licence, Passport, or Voter ID in the name of the Owner with the complete address of the premises should also be provided if the address on the ownership document (Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill) is incomplete.