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9695963576

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Sole Proprietorship

Registration of a Sole Proprietorship Business

Micro or Small size Manufacturing or Trading entities that are owned and controlled by one person, with typically having just a GST number, are commonly known as sole-proprietorship firms.

we can help you in…:

  • Picking the appropriate government registration

  • Connecting with verified vendors / partners to submit the application

  • Supporting you at every step until your business is registered

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Understanding Sole Proprietorship

Sole Proprietorship is the most prevalent business model in India, adopted by many micro and small businesses across the nation. This business formation is quite easy to start-off and requires minimal regulatory compliance. Sole-proprietorship mode is the first-choice for small traders and merchants, primarily operating in unorganized sector, because a proprietorship firm can set-up and start operating within 15-days of time. Also, there is no designated mechanism provided by the Government of India for registering sole-proprietorship form of business.
Business entities under the proprietorship model need to be established through certain tax registrations (including GST number, VAT) along with other compliance requirements. All the registrations for a proprietorship business are, however, to be in proprietor’s name, making the owner solely accountable for all business liabilities. Various desirable advantages, including limited liability, perpetual existence, corporate status, and others that are critical for any business, are missing in a sole-proprietorship model.

Key-Advantages of a Proprietorship Firm

  • Easy to Start & Close

    Sole-Proprietorship is the simplest form of business to start, which requires minimal compliance and can be set-up in just 15-days. All you need is GST registration that can be done by your PAN card and address proof (AADHAAR or Voter’s card).

    Similarly, a proprietorship firm can easily be wind up or closed. In most cases, only the tax registrations obtained in the proprietor’s name are to be cancelled.

  • Quite Economical

    Sole-Proprietorship is fairly inexpensive as compared to other business modes, like One Person Company (OPC). Also, it requires minimal compliance, so it is economical even in the long-run. Moreover, there is no need to hire an auditor, as proprietorship firms are only recognized through the government and tax registrations, and the extent of their compliance is limited to the annual filing of their services and taxes.

  • Less Complicated

    Unlike company or partnership modes, where more than one person is required to set-up any business, a sole proprietorship can be registered and operated by a single individual. Moreover, a proprietor can select any name for the venture – as long as it does not infringe on a registered trademark. Since the name is not registered, any other person can, however, use the same business name unless trademark registration is obtained.

Required Documentation Chart

Please reach us at metafiling@gmail.com if you cannot find an answer to your question.

Indian Resident

Identity Proof

 

  • Copy of PAN Card (mandatory)

 

Residence Proof

 

  • AADHAAR Card
  • Voter’s Card
  • Bank Statement
  • Electricity / Water Bills (recent two-months)

 

Proof of Registered Office

 

  • Property Tax Receipt
  • Electricity / Water Bills (recent two-months)

 

Additional Documents:

 

  • Rent Agreement*
  • Sales Deed

 

*Along with the Rent Agreement, a letter of consent by landlord containing a signed agreement to use the rented space as a registered office is also obligatory to be submitted.

Identity Proof

 

  • Notarized or Apostilled Copy of Passport (mandatory)

 

Residence Proof

 

  • Notarized or Apostilled Copy of Passport (mandatory)

 

Proof of Registered Office

 

  • Property Tax Receipt
  • Electricity / Water Bills (recent two-months)

 

Additional Documents:

 

  • Rent Agreement*
  • Sales Deed

 

*Along with the Rent Agreement, a letter of consent by landlord containing a signed agreement to use the rented space as a registered office is also obligatory to be submitted.

Documents for GST Registration

For the GST registration, a proprietor needs to submit certain additional documents, including passport size photograph and either a cancelled cheque of personal bank account or bank statement or front page of bank passbook.

Reach Us!

  • Seasoned team of vendor partners @ Metafiling is trained to effectively get your Sole Proprietorship registration done for YOU!…so that you can focus on your other critical tasks!
GET STARTED NOW !

Pocket-Friendly Options

Basic Package

  • TAN registration for business
  • MSME under Udyog Aadhaar and Compliance Tracking.
  • (Above price includes all taxes and relevant government fees.)
INR 2899/-

Standard Package

  • TAN and GST Registrations with Three Months GST Return Filing
  • MSME under Udyog Aadhaar and Compliance Tracking
  • (Above price includes all taxes and relevant government fees.)
INR 5899/-

Premium Package

  • TAN and GST Registrations with 12 Months GST Return Filing or Trademark Filing
  • MSME under Udyog Aadhaar and Compliance Tracking
  • (Above price includes all taxes and relevant government fees.)
INR 10899/-