Sole Proprietor
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Fastest registration turnaround time in India with Guaranteed document upload to the government portal under 7 days or get a full refund T&C*
A sole proprietorship is a business type owned and operated by just one person. It is also referred to as proprietorship, solo entrepreneurship, or lone tradership.This is best suited for small business. In this business type, there is no legal distinction between the owner and the business entity. The sole trader can also employ other people to work in the sole proprietorship. All the profits generated through the sole proprietorship are subject to taxation with respect to the business. All the debt and assets of the business are the proprietor's liability. A sole proprietor can use trade names or business names other than their legal name.
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Why Choose a Sole Proprietorship?
A sole proprietorship offers an individual greater control over the business. It also has fewer laws ,compliances and regulations. It provides a greater display of organisational commitment among the employees. A sole proprietorship offers tax returns and is much simpler to establish compared to other forms of organization.
Who Should Consider a Sole Proprietorship?
Anyone who wants to launch a firm in less time with significantly less capital may choose to register as a sole proprietorship. It can be launched in a few days and gives the owner complete control over the enterprise.
Required Documents for Sole Proprietorship Firm Registration
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Aadhaar card of the sole proprietor
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Permanent Account Number (PAN) card or any other identity proof of the sole proprietor
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Bank account details in the name of the proprietorship
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Address proof of the business
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Rental agreement of the registered office address
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NOC from the landlord
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Electricity bill, Utility bill or sale deed in case it is a self owned property
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MSME registration certificate
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[object Object], or Trade license (if applicable)
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GST number or GST certificate
Steps to Register a Sole Proprietorship in India
