Registration of Sole Proprietorship

A sole proprietorship, also known as a sole trader is a one man’s business that has no distinction between itself and the owner. Over the years, sole proprietorship has gained momentum making it the most preferred form of business in India by small business owners.

We are experts when it comes to sole proprietorship registration service and we will ensure your registration is smooth, easy, and trouble free. Additionally we can also assist with the registration of both Public and Private Liability Companies, One Person Company, Partnership Firms, Producer Company, Section 8 Companies and so much more.

Features of a Sole Proprietorship:

Single Promoter

A sole proprietorship is ran by one individual and this makes it easy for you to manage and make decisions. This guarantees timely decision making at all times.

Registration Documents

It is very easy to register this type of business as very few documents are needed. The required documents include:

1. Your PAN card (copy)
2. Proof of Address in your name (can be a utility bill in your name)
3. Business address proof(can be a utility bill for your business)
4. Business registration certificate (for bank account opening)
5. A bank account statement

However, registration may become a necessity especially when the turn over limit is exceeded. The government requires complete registration of a sole proprietorship once a certain threshold in turnover has been attained. To ensure compliance, don’t hesitate to consult our expert team on this.

Tax Relief

Sole proprietors are considered as a single entity and hence pay personal taxes. Unlike other businesses, you are always exempted from paying corporate taxes and this reduces the tax liability. However, tax registration is necessary for taxes such as VAT.

Ease of Liquidation

Liquidating your business is easy and fast as all that is required during winding up is cancellation of the entity’s name and tax registration details.

Registration Duration

Registration of Sole proprietorships takes the shortest time and can be completed within a minimum of 2 days. Despite registration taking the shortest time possible, this solely depends on government procedures and approvals during the time of your registration.

Registration Fee

Government’s registration fee starts at Rs.500 while professional fees start at Rs.2500 and the variance would be due to the type of business and even the requirements to be met while registering your particular business.

Benefits of a Sole Proprietorship:

• Easy to register and manage
• Few registration formalities
• Cheap to start as few resources are required
• Exempted from expensive corporate taxes
• Ideal for small scale businesses

Why V-Register Startup?

• We have the best rates in town with no hidden costs
• Expert advice from experienced advisors while registering
• Quick turnaround time
• Satisfaction guaranteed as all your registration issues will be handled
• Access to a support team while starting out and on every step of the way

For consultation, schedule an appointment with our advisors or send an email to us.