The leading business advisor, ebizfiling is a leader in sole proprietorship firm registrations in India. The sole proprietorship type is the favourite business form for the small entrepreneurs. It simply allows starting a firm with small capital, short time frame.
It requires a very simple process with minimal legal compliances and formation costs. Most of the local offline businesses prefer proprietorship. Check out the major aspects and requirements for the sole proprietorship firm registration.
Key Features of Sole Proprietorship Firm in India
Traditionally, proprietorship is the preferred way of setting up a small scale business for most of the businessmen. The main features of this business type clearly identify it from the other types.
A sole proprietorship structure can be used by a service provider, a manufacturer as well by a trader or a merchant.
How to Establish a Sole Proprietorship Firm in India
All the business structures need to follow the formation procedures and necessary registrations. This brief yet complete procedure for sole proprietorship registration will help you to get ready with the document requirements.
Though there are no other governmental formalities required for sole proprietorship formation, it may require certain registrations depending upon the business. For example a firm dealing with import or export will need DGFT IEC code registration. For the registrations of GST, we highly recommend you to get help of our professional services available at incredibly low service charges.
Documents Required to Start Proprietorship Firm
The documents requirement for the sole proprietorship is quite simple. Generally it involves the basic documents to identify the proprietor and the firm.
This hassle-free registration process aloof of any real legal registration is the best feature of the sole proprietorship firm in India. It is also the oldest form of business in India. Applying for the necessary tax registrations and bank account are the only compliance to start the business.
Apply Online for Sole Proprietorship Firm Registration in India
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