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
When a business is owned and governed by one person it is called a sole proprietorship company. This type of business can be started in 15 days and hence makes it one of the most popular kinds of business to begin in the unsystematic sector, specifically among merchants and small traders. For a sole proprietorship business, registrations are not required as they are identified by alternate registrations such as GST registrations. However, its liability is unlimited and it also doesn’t have a continuous presence.
Sole Proprietorships have minimum compliance as this firm is identified by its government and tax registrations. Therefore, the degree of its agreement is confined to the yearly filing of the service, sales or professional taxes.
Any sole proprietorship is simple to begin. One needs to simply have a GST Registration in place. Hence, the procedure is not complicated. Therefore, the sole proprietorship business can be set up in 15 days with the help of a PAN card for identity and proof of address.
When compared to an OPC or One Person Company, a Sole Proprietorship is economical due to its minimum compliance requisites. Even in the long-term perspective, it is still inexpensive. It works out much cheaper because one would not need to hire an auditor. One of the main reasons why small merchants and traders choose it.
Our experts give your professional guidance on the many processes involved in registering your business as a sole proprietorship, whether its service tax, sales tax, import/export code, professional tax or Shops and Establishments Act registration.
Our team will put you in touch with an established vendor who will book your application and also keep you in the loop on its status and progress. The vendors we have onboard are well-accomplished and skilful in managing native registrations.
Vakilsearch will offer full assistance until you get the registration you've have chosen. In some cases, this could take up to 15 days but 5 days in a few others, as this is completely dependent on the task at hand for the authorities involved.
|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 »|
Vakilsearch offers you six different choices or ways in which you can become a sole proprietor. They are as follows. 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.