Sole proprietorship
It allows you to have full control over your business. In this type of business, you will be personally liable for the business debts and liabilities. to register this type of business, you will need the below mentioned documents.
- Aadhar card
- PAN card
- Bank Account
- Registered office proof
Partnership firm
A partnership firm is one type of business where two or more people come together to share the responsibilities, profits, and losses of the business. Below, I am listing the documents needed for registration.
- Partnership deed
- Documents of the firm (PAN card of the firm, address proof of the firm)
- Documents of partners (PAN card, Address proof)
- GST registration
- Current bank account
One person company (OPC)
It is a type of business where a single individual can form a company. That one person will be responsible for all the liabilities.
This is ideal for those people who want to start their own business and want the protection of limited liability. You need several documents to register this type of business, as listed below.
- MOA and AOA copies
- Since there is only one director and member, a nominee must be appointed. If the director cannot fulfill their duties, the nominee will take over. The nominee’s PAN card and Aadhar card are required.
- Proof of Registered office along with the proof of ownership.
- Declaration and consent of the proposed director of form INC-9 and DIR-2, respectively.
Conclusion
There are various types of registrations for small businesses, and the choice depends on the individual’s preference. Each type of registration requires specific processes and documents needed to start a company. For more details, you can seek advice from experts.
Suggested Read :
Types of nil return filings for small business
Benefits of Udyam Registration
ROC Registration for Small Business
Bookkeeping Service for Small Businesses
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