Sole Proprietorship Registration
A sole proprietorship is the most basic form of business structure in which one person owns and runs the company without any kind of legal separation between them. The Permiso team will provide comprehensive assistance, starting from the project’s paperwork through its successful completion.
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A Proprietorship Firm is a type of business in which just one person owns and runs the company. It is the easiest and least complicated type of business to establish. All of the firm’s responsibilities and debts are personally owed by the proprietor.
Here are some key features of the Sole Proprietorship Registration
- Easy to start: A sole proprietorship is simple to establish because there are no legal formalities to complete, only a few registrations such as GST, Shop Act registration, MSME, etc are required.
- Unlimited liability: One of the main characteristics of a sole proprietorship is the unlimited liability of the owner for the company. This means that the owner's personal assets can be used to pay company debts or legal obligations.
- Sole ownership: A proprietorship firm is a sole proprietorship since just one individual is responsible for both the ownership and management of the company.
- Control: The owner has total authority over all business-related decisions, including how to share profits and grow the company.
- Cost-effectiveness: A proprietorship firm is cost-effective as there are low registration fees and no compliance expenses.
- Transferability: A proprietorship business cannot be sold or transferred to another individual. Only the owner has the authority to end it.
Documents required for Sole Proprietorship Registration:
- Individual Aadhar Card
- Individual Pan Card
- Current Account Cancelled Cheque
In general, a proprietorship firm is an easy-to-understand business entity that is perfect for small enterprises with limited operations and financial resources. It gives the owner complete authority while having few legal procedures and little financial investment. Before beginning a proprietorship business, you should carefully evaluate the possible risk of the proprietor’s limitless responsibility.
You can apply for a Proprietorship Firm Registration through M/s. The Permiso and obtain licenses like MSME certificate, Import – Export Code, Shop and Establishment, and GST Registration within 7 – 10 days. If you have any issues or facing any difficulty with the registration of a proprietorship firm, you can call +91 8104691667 or email us at info@thepermiso.com
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Proprietorship Firm Registration Procedure
