Sole proprietorship Registration in India [2022]- Onfiling

    Proprietorship

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    A Sole Proprietorship or proprietorship is a type of enterprise which has no legal distinction between the owner and the business entity. It is owned and run by one person. A sole trader does not necessarily work alone—it is possible for the sole trader to employ other people as an employee. A sole proprietorship usually does not have to do incorporation or registration compliance. Being a sole proprietor, it is your responsibility to get common registrations for the smooth running of the business.

    Fill in the details to know the common registration required.


    Steps to Start

    Let's Complete The Process in 4 Simple Steps

    1

    Connect

    Connect with Onfiling Experts by filling up the query form as per your services requirements, our team will contact and explain you the complete process of required service in simple terms.

    2

    Submit

    As per the discussion with Experts you can submit the documents through email to the concerned person with 50% professional fees and the complete government fees for the services.

    3

    Draft

    Once your documents are submitted, our team will draft the required forms as per the documents shared and will send you back for the final review before submitting to authorities.

    4

    Complete

    Once you give confirmation our team will file the documents and give you acknowledgement. Once application is approved by authorities you will get the required certifications without any hassle.

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    FAQs

    You Ask, We Answer

    Yes, only an Indian Citizen can start proprietorship business. Similarly, no foreign funding is allowed during a proprietorship sort of business. However, an NRI or a Person of Indian Origin (POI) can invest in proprietorship with prior approval from the central government of India.

    There is no limit on the minimum capital for starting a Proprietorship. Therefore, a Proprietorship is often started with any amount of minimum capital.

    There is no law which enforces registration of a proprietorship firm as such, We helps entrepreneurs in securing registration under MSME, GST, Shops & Establishment, etc. the MSME registration is done under Micro, Small and Medium Establishments Development Act, 2006 of Central Government.

    PAN Card for the Proprietor along with identity and address proof is sufficient to start a Proprietorship and to obtain other registration, as applicable or required.

    Yes, the proprietorship is often converted to LLP or Private Ltd Company.

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