JR Compliance- an award winning compliance service provider is equipped with experts and necessary resources to assist you complete the sole proprietorship registration.
Contact us immediately for sole proprietorship firm registration.
A sole proprietorship firm is a business owned and controlled by a person/sole trader/proprietor. It is the most common type of business commenced by small merchants and traders.
Commencing the sole proprietorship firm is effortless because you must fulfill a few compliance requirements to conduct its operations. Thus, it is the most appropriate form of business for small businesses with a few clients.
Moreover, business structure as a sole proprietorship includes individual freelancers, growing startups, creatives, and settled businesses comprising physical storefronts/workplaces.
As the name implies, it is a single-person registration of the firm. Its primary aim is to open a Current Bank Account on the business name to allow the business to perform activities with some compliance and less costing.
To recapitulate, sole proprietorship registration could be perplexed as it involves acquiring several documents. With that, you need to ensure appropriate documentation, as, without this, your application for the sole proprietorship registration could be rejected.
Thus, to make the registration process easy, contact JR Compliance-we guarantee to provide you the most appropriate consultants in obtaining sole proprietorship registration while keeping your convenience insight.
A sole proprietorship firm can be registered in three different forms:
A proprietor with a shop needs to do this registration. Registration under this act defines a shop as a premises,
To be noted, it does not comprise a factory, commercial establishment, theatre, etc.
If you satisfy the criteria mentioned earlier, you can register your shop under the Shop and Establishment Act by applying to the local Municipal Corporation of the city.
2. Registration Under GST Registration
You need to register your firm under GST registration if you are engaged in exchanging goods and services.
To be noted, GST registration has replaced the VAT and Service Tax Registration.
Though, GST registration is the most acceptable way to register your business. However, after registration, you are obligated to meet the requirements. For instance, a sole proprietorship registered under GST registration needs to collect the tax from the customers mandatorily.
3. Registration Through Udyog Aadhar Under Ministry of MSME
Under this registration process, the Ministry of MSME provides a unique identification number to the business. This registration process has replaced the former EM-I and EM-II.
Registration through Udyog Aadhar allows the availability of loans at low interest rates.
Additionally, understanding which type of registration would be better for a business could be tedious and perplexing for an individual. Therefore, to resolve all your concerns, we have sole proprietorship registration experts who will assist you throughout the process to avoid every inaccuracy. Thus, we ensure to provide you high standard services by guaranteeing the utmost convenience of our clients.
To recapitulate, sole proprietorship registration could be perplexing as it involves acquiring several documents, understanding which type of registration would be better for a business, etc. With that, you need to ensure appropriate documentation, as, without this, your application for the sole proprietorship registration could be rejected.
Consequently, to resolve all your concerns, we have sole proprietorship registration experts who will assist you throughout the process to avoid every inaccuracy. Thus, we ensure to provide you high standard services by guaranteeing the utmost convenience of our clients.
For our excellent services contact us immediately.
It is advised to register a sole proprietor firm because it provides you legal benefits such as ease of opening a bank account in the company’s name and provide your business with a separate identity similar to a Partnership or Company.
Yes, a sole proprietor needs to be an Indian resident and Indian citizen. However, non-Indian residents could invest in a sole proprietorship after acquiring consent from the government of India.
You can begin the sole proprietorship firm with any amount of capital.
An Indian citizen and Indian resident can be the sole proprietor.
No, a sole proprietorship firm does not have a certificate of incorporation.
The sole proprietorship firm business can not be transferred. However, the assets of the sole proprietorship can be transferred through a sale.
Indeed, an individual is required to commence sole proprietorship.
The Proprietor and PAN card of the Proprietorship firm is the same. Thus, the sole proprietorship firm does not have a separate legal entity.
Sole proprietorship and One Person Company are two different forms of ownership. In a sole proprietorship, a business is managed and controlled by a person. However, an OPC is a company that has only a person as to its members while other members are just subscribers of its MoA or its shareholders.
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