proprietorship registration

Proprietorship Registration


Register a Proprietorship & Start your dream Business in a day

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Register a Sole Proprietorship easily within one day and start your dream business. No specific registration requirement for a proprietorship business, except for the basic formalities.

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    What is a Sole Proprietorship?

    A proprietorship is a type of business owned and managed by one person. The entire capital is invested by the sole proprietor. As a result, he alone is entitled to the profits of the business. There is no requirement to register a sole proprietorship as such, and it starts at the will of the proprietor/owner without obtaining any certification.

    However, registration with Goods and Services Tax (GST for Proprietorship Firm) and obtaining TAN number for complying with the TDS related provisions of the Income Tax Act is desirable and necessary. Bankers also insist on two KYC documents to open a Current Bank Account in the name of Proprietorship Firm. For these tasks, we are at your service to help you register a sole proprietorship firm anywhere in India.

    Features of Sole Proprietorship

    Start Immediately

    Proprietorship can start immediately at the will of the proprietor and obtain GST Registration in 30 Days of starting operations.

    Tax Benefit

    The income of the proprietorship is included in the income of proprietor itself. Hence slab based tax rates apply resulting in tax benefit.

    No Foreign Funding

    A proprietorship cannot be funded with foreign money, and it can be owned only by Indians & NRI with some conditions.

    Easy to Close

    Business may be closed easily, just surrender all registrations and licenses obtained in the name of the proprietorship business.

    Procedure for Starting a Sole Proprietorship

    FirstFiling can help you through the entire process of registering a sole proprietorship!

    Our team of professionals can get the process done in a day!

    Documents Required


    (All inclusive)

    Frequently Asked Questions

    A sole proprietorship business can be started with any amount of capital. There is no particular provision in the law which prescribe any minimum capital for the firm. The capital must be infused by the proprietor based on the nature and scale of the proposed business. You shall have the ability to introduce or withdraw capital at any time from the accounts of the proprietorship business as drawings.

    Yes. Only an Indian Citizen can start proprietorship business. Similarly, no foreign funding is allowed in a proprietorship form 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 law that requires one to register a sole proprietorship firm. Therefore, FirstFiling helps entrepreneurs in securing registration under MSME, GST, Shops & Establishment, etc. The MSME registration is done under the Micro, Small, and Medium Establishments Development Act, 2006 of Central Government.

    Following are the proprietor documents which are required to register a sole proprietorship firm under MSME.

    • Copy of Aadhar Card
    • PAN card of the Sole Proprietor
    • Details of Business Place

    There is no certificate of incorporation or registration of sole proprietorship business as such. As a result, the legal identity of proprietorship is determined through various other registration or licenses obtained in the name of the proprietorship firm. Similarly, each specific registration shall result in the issuance of a certificate of registration, for example, GST Certificate, MSME Registration Certificate, Tan Allotment Letter, etc.

    Reserve Bank of India regulates the opening of Bank Accounts. It has prescribed submission at least two entity proof for the proprietorship. To open a bank account, one may approach any bank nearest to you, and generally, they need following documents.

    1. List of Entity Proof of Sole Proprietorship: (Any two documents from the below list)

    1. Certificate of Registration with MSME
    2. GST Registration Certificate
    3. Registration with Shops & Establishment
    4. Registration or License-related to Central-State govt.
    5. Certificate related to Municipal authorities
    6. Tax returns Showing Name of Proprietorship Firm
    7. Import Export Certificate in Firm Name
    8. CA certificate for Existence of Entity
    9. Registered lease/ license in Proprietorship Name
    10. Utility Bills/ TDS certificate in the name of the firm

    2. Identity Proof of Proprietor for Bank A/c Opening:

    1. PAN Card
    2. Driving Licence
    3. Passport
    4. ID cards issued central and state govt.
    5. Passbook scheduled commercial bank
    6. Marriage certificate
    7. Voters ID card
    8. Aadhar Card

    3. Address Proof of Proprietor

    1. Driving Licence
    2. Passport.
    3. ID cards issued central & state govt.
    4. Passbook scheduled commercial bank
    5. Utility Bill
    6. Marriage certificate
    7. Municipal corporation bill
    8. Credit Card Bill
    9. Registered Leave and Licence Agreement
    10. Bank statement

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