Get complimentary access to our Invoicing & Accounting tool- DASH
Vakilsearch has a team of registration experts who can provide complete guidance to register your sole proprietorship.
Our team of experts will get in touch with you and collect all necessary documents and details
Step 1
We fill out and file your application for registration
Step 2
Your sole propreitorship is registered
Step 3
When a business is owned and governed by one person, it is called a sole proprietorship company. This type of business can be incorporated in fifteen days and hence makes it one of the most popular types of business to begin in the unsystematic sector, specifically among merchants and small traders. For a Sole Proprietorship business, registration is not required as it is identified through alternate registrations, such as GST registrations. However, its liability is unlimited and it also doesn’t have perpetual existence.
Some of the compliances that apply to a sole proprietorship include the following:
In addition to the mentioned points, the proprietorship may also need to comply with additional regulations according to its industry and region.
Professional Guidance
Our experts give you professional guidance on many of the processes involved in registering your business as a sole proprietorship, along with registration of service tax, sales tax, import/export code, and professional tax.
Vendor Relationship
Our team will connect you with an established vendor who will book your application and also keep you updated on its status and progress. The vendors we have onboard are well-accomplished and skillful in managing native registrations.
15 Business Days
Our team will offer full assistance with the registration process. This could vary between 5 and 15 days, depending on the task at hand for the authorities involved.
To start a Sole Proprietorship, the following documents are required
To open a current account, the following documents are required;
Features | Proprietorship | Partnership | LLP | Company |
---|---|---|---|---|
Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
Ownership | Sole Ownership | Min 2 Partners Max 50 Partners | Designated Partners | For One Person Company |
Registration Time | 7-9 working days | 7-9 working days | 7-9 working days | 7-9 working days |
Promoter Liability | Unlimited Liability | Unlimited Liability | Limited Liability | Limited Liability |
Documentation | Partnership Deed | |||
Governance | - | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
Transferability | Non Transferable | Transferable if registered under ROF | Transferable | Transferable |
Compliance Requirements | Income tax filing if turnover is more than ₹.2.5 lakhs | ITR 5 |
We provide access to reliable professionals and coordinate with them to fulfil all your legal requirements. You can also track the progress on our online platform, at all times.
By handling all the paperwork, we ensure a seamless interactive process with the government. We provide clarity on the incorporation process to set realistic expectations.
With a team of over 300 experienced business advisors and legal professionals, you are just a phone call away from the best in legal services.
Start a Business
Trademark & Copyright
Govt & Tax Registration
Legal Documentation
By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy, Refund Policy and Content Policies. © 2023 - Uber9 Business Process Services Private Limited. All rights reserved.
Please note that we are a facilitating platform enabling access to reliable professionals. We are not a law firm and do not provide legal services ourselves. The information on this website is for the purpose of knowledge only and should not be relied upon as legal advice or opinion.