Small manufacturers and traders, who typically have just a GST registration, are known as sole proprietors.
We help you pick the right government registration
We connect you with a verified vendor to file the application
We offer continuous support until you receive the registration
A sole proprietorship is a business that is owned and managed by a single person. You could have one up and running within 15 days, which makes it very popular among the unorganised sector, particularly small traders and merchants. There is no such thing as registration; proprietorships are recognised by other registrations, such as a GST registration. As you would imagine with a business that’s so easy to set up, though, its shortcomings are severe: the liability of the proprietor is unlimited and it does not have a continuous existence.
Sole Proprietorships are only recognised via their government and tax registrations, so the extent of their compliance is limited to the annual filing of their service, professional or sales taxes.
A sole proprietorship could take 15 days to start if all you need is a GST registration. Either way, the process is uncomplicated. PAN card and identity and address proofs are enough to get them done.
A Sole Proprietorship is inexpensive as compared to a One Person Company (OPC) and, thanks to the minimal compliance requirements, is inexpensive even over the long-term. You would not need to hire an auditor, for example. This is why, despite its severe shortcoming (unlimited liability), small merchants and traders opt for it.
We will help you decide what registration you need, whether service tax, sales tax, import/export code, professional tax or Shops and Establishments Act registration. We will also inform you of the documents you need to get started.
We will connect you to a verified vendor who will file your application and keep you up-to-date on its status. Our vendors are well-experienced in handling local registrations.
We will offer our complete support until you receive the registration you've selected. This could take up to 15 days in some cases, but as few as 5 days in others. This depends on the workload of authorities and other externalities.
|Sole Proprietorship||Limited Liability Partnership||One Person Company||Private Limited Company||Partnership Firm|
|Small manufacturers & traders||Professional services firms||Solo promoters||Start-ups and growing companies||Home businesses|
Ease of Accommodating Investment
|Impossible||Possible, but unlikely||Possible, but severely unlikely||Very easy to accommodate||Almost impossible|
Limited Liability Protection
|Minimal||Most efficient||Few benefits||Few benefits||Minimal|
|Know More »||Know More »||Know More »||Know More »|
At Vakilsearch, we can make you a sole proprietor in six different ways, by getting you a VAT, service tax or professional tax registration, a Shops & Establishments Act Registration, an Import-Export Code or an MSME registration.
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.