Sole Proprietorship Registration in Kerala

A sole proprietorship is a business model wherein a single individual owns and manages the whole enterprise. In this system, there is no legal distinction between the owner and the business entity. Although a sole trader may choose to work with other individuals, they are the sole owner and decision-maker.

The sole trader is entitled to all profits generated by the business, subject to specific taxation applicable to the enterprise. However, they bear unlimited responsibility for all losses and debts incurred by the business. In this setup, every asset owned by the business is under the proprietor's ownership, and all debts are the personal responsibility of the proprietor.

Sole Proprietorship Registration Kerala is crucial for functioning legally. Get to know more about Sole proprietorship registration, Eligibility criteria, Documents, Process to Register a Sole Proprietorship, Time required for registration, Benefits and FAQ’s for Sole Proprietorship Registration in Kerala

Sole Proprietorship Registration in Kerala

Proprietorship registration in Kerala is a crucial process. There is a list of documents required and the documentation of GST and UDYAM. One can read along to find out more about proprietorship registration in Kerala. A sole proprietorship has the legal standing as it is not a distinct legal person from the company's owner, the business owner is liable indefinitely which simply means that the business owner is personally liable for all the debts and losses of the sole proprietorship.

The quickest and easiest way to launch a one-owner company is through a sole proprietorship. Once you start doing business, you become a sole proprietor. It is the best approach for new self-employed individuals to get started because it doesn't need submitting federal or state forms and has little regulatory constraints. Kerala is the eighth-largest economy in India, which is mostly driven by the service sector and agriculture. Due to the fact that Kerala is home to multiple large firms and manufacturing facilities, its economic growth is greater than the national average.Handloom, handicraft, bamboo, coir, khadi & village, cashew, tourism, etc. are the key industries in Kerala.

Eligibility for Sole Proprietorship Registration in Kerala

The following eligibility criteria for Sole Proprietorship Registration in Kerala

• The applicant must be an Indian citizen or possess an OCI (Overseas Citizen of India) card to register as a sole proprietor in India
• The minimum age required to register as a sole proprietor is 18 years
• The proprietor must be of sound mind to enter into contracts and make business decisions
• Individuals declared bankrupt or disqualified by law, cannot register as sole proprietors
• Businesses like banking or defence production, require specific licenses or permissions and may not be suitable for sole proprietorship firm registration
• The proprietor cannot be involved in any other form of business, like a partnership or a limited liability company.

Documents Required for Sole Proprietorship Registration in Kerala

The process of making sure that proper documents are submitted can be time-consuming and unpleasant. The following documents are required for registering Sole Proprietorship in Kerala

• Photograph of the proprietor
• Aadhar card of the applicant
• PAN card of the applicant
• Address proof like the legal ownership document or the electricity bill
• Bank account statement of the applicant.

A Vakilsearch professional is always available to speak with, and we will walk you through the process so that the online process is simpler and more transparent. In general, the registration process takes a week to complete.

Steps Involved in Sole Proprietorship Registration in Kerala

Vakilsearch provides an easy four step process for Sole proprietorship company registration online in Kerala:

Step 1: Unique Business Name Selection

Rely on our expertise to guide you in choosing an exclusive and unregistered business name that aligns with your vision

Step 2: Seamless DSC Acquisition

Vakilsearch ensures a smooth acquisition of the Digital Signature Certificate (DSC), a vital digital key required for electronic document signing before ROC registration.

Step 3: Customised Document Preparation

Trust our team to assist in preparing the necessary registration documents, personalised to meet the specific requirements of your state.

Step 4: Effortless Submission to ROC

We simplify the process by handling the submission of your documents to the Registrar of Companies (ROC) for meticulous review and prompt approval.

For businesses with physical locations, Vakilsearch facilitates the hassle-free acquisition of a trade license from the local authority, ensuring compliance with city-specific regulations.

Fees for Sole Proprietorship Registration in Kerala

The fees for registering a sole proprietorship in Kerala vary as per the state and the services you choose. These fees include the costs of filing the necessary paperwork and obtaining any required licenses. For more information get in touch with our experts.

Time Taken for Sole Proprietorship Registration in Keralaa

In India, establishing a sole proprietorship is a simple procedure. The exact time frame depends on state protocols and documentation validation. It could take, on average, seven to ten working days for your business to be officially recognised. However, this time frame could alter. Get in contact with our specialists for further details.

Why Vakilsearch?

Here is why one has to choose Vakilsearch for their legal services especially when it comes to sole proprietorship registration:

• Vakilsearch has provided a number of services for more than 50k companies via our online platform. Hence, there is no doubt that Vakilsearch is reliable.
• We take immense pride in the services we offer and guarantee that you will enjoy both our expert’s assistance and our services. We put a lot of effort into providing the best registration, financial, or administrative services online and are always looking to improve.
• Experience the ease of Vakilsearch's legal services. In any instance, Vakilsearch gathers and double-checks the documentation for proprietorship registration. Vakilsearch also helps in GST registration and UDYAM registration.
• Additionally, the procedure will be quick, transparent and efficient.