Sole Proprietorship company registration is one of the most popular forms of registration for a sole owner in India. It can be easily run by anyone who wants to start their business as a sole proprietor.
There is no requirement for any government registration to start sole proprietorship business in India. But if you want to open a current bank account of your entity then you need to register for Sole Proprietorship Firm.
In this blog article, we will provide you with a complete guide on how to start a sole proprietorship business in India, what are the documents required for it, its eligibility criteria, etc.
What is Sole Proprietorship?
Every business which is runned by a single person is known as Sole Proprietorship Firm. It is a one-man organisation where a single individual runs the business and is personally liable for all the liabilities occurring in their enterprises.
Sole Proprietorship business licence or certificate is issued by the municipal authorities under the Shop and Establishment Act. It is considered as a proof for the organisation and you can easily open a current bank account with the sole proprietorship certificate.
What is the Eligibility Criteria for a Sole Proprietorship firm?
There is not any eligibility criteria to register a sole proprietor firm in India. If you have your own business and you are only the single owner of the whole enterprise then you can easily register your sole proprietorship firm.
What are the Benefits of Sole Proprietorship Firm?
There are lots of benefits of Sole Proprietorship Firm but we highlight some main points which are mentioned below.
It is very easy to start and operate the sole proprietorship firm because there is no need for any kind of government registration.
As sole proprietorship firm is not registered with the government so there are very minimum compliances in registration.
You can get the advantage of profits occurring in your business because you are only the single owner.
Yon can get the benefits of privacy because the sole proprietorship is an unregistered form of entity and there is very less control of government.
You can easily apply for a current bank account under the name of the firm with the sole proprietorship certificate.
How to Register a Sole Proprietorship Firm Online in India?
Sole Proprietorship registration online process is very easily to follow
Business Address Proof (Passport/Ration Card/Voter ID/etc)
Shop and Establishment Act Licence
Chartered Accountant (CA) Certificate
Who are we?
We are a team of experts with many years of Company registration experience. As a government registration process for the normal individual is very difficult and not easily understandable. So for a registration job, we charge a very reasonable price and do the registration for you and save your time. Our key goal is to please our clients.
If you experienced some issue during registration, please fill in the complaint form at startupguide.co.in and we will answer to you shortly with the solution.