Proprietorship Firm

A sole proprietorship is a business type owned and operated by just one person. It is also referred to as proprietorship, solo entrepreneurship, or lone tradership.This is best suited for small business. In this business type, there is no legal distinction between the owner and the business entity. The sole trader can also employ other people to work in the sole proprietorship. All the profits generated through the sole proprietorship are subject to taxation with respect to the business. All the debt and assets of the business are the proprietor's liability. A sole proprietor can use trade names or business names other than their legal name.

Eligibility Criteria for Sole Proprietorship Registration

The eligibility criteria for sole proprietorship registration are :

• The applicant should be above 18 years
• The applicant should be an Indian Citizen
• They should have the legal capacity to enter into a contract
• The proprietor should not have any legal disabilities
• Applicant should not be declared bankrupt or convicted for felony previously
• The purpose of the business should be clearly outlined while starting a sole proprietorship
• The business should be a lawful activity and should prevent selling illegal goods and services
• The business should have a unique name that was not registered previously.

Required Documents for Sole Proprietorship Firm Registration

The following documents required for Sole Proprietorship Registration:

• Aadhaar card of the sole proprietor
• Permanent Account Number (PAN) card or any other identity proof of the sole proprietor
• Bank account details in the name of the proprietorship
• Address proof of the business
• Rental agreement of the registered office address
• NOC from the landlord
• Electricity bill, Utility bill or sale deed in case it is a self owned property

Delivered sertificate

MSME (Udyam Registration)

GST Registration