Sole Proprietorship Company Formation Package-India
| Service Package | |
|---|---|
| Jurisdiction | India |
Through our services that revolve around the formation of a sole proprietorship, we shall understand the type of business and the related licenses and registrations that shall be required along with opening a current bank account and establishing the principal place of business. A sole proprietorship is that type of unregistered business where there are no separate legislation or regulations applicable. It is most commonly used by entrepreneurs or start-up organizations to start their own venture/business. This is the most common type of venture set up all across India.
Kick-start your entrepreneurial dreams by forming a sole proprietorship company today.
₹2,999.00 – ₹9,999.00
Owners of such business setups are called the proprietors. The number of sole proprietorships set up in India every year goes into lakhs. Since the required number of members is only one individual, there is no minimum amount of share capital, minimal statutory requirements, the decisions taken are quick, it is the most preferred form of business. It is mostly opted by those who are new in the business sector. For this type of business, no government registration is particularly required, there is no need to go and fill online forms.
We shall assist you in obtaining the required GST and MSME registrations as applicable to the type of business that is opted for. This entity is not separated from its owner therefore all the registrations and licenses obtained for this business are based on the PAN and other personal documents of the owner himself. We shall assist you in making sure that all the required documents for the relevant licenses and registrations are maintained and that the final certificates for the same are received.
The standard steps involved are;
- Apply for the Company’s PAN
- Finding a suitable name for the business
- Opening a current bank account in the name of the business
- If required, register under the MSME Act which can prove to be beneficial
- Obtain a GST registration number if the threshold is exceeded and also obtain a Shop and Establishment registration if required
General documents required are;
- Utility bills of the place of business
- The proprietors KYC documents
- Licenses issued under the Shops and Establishment Act
What Shall You Obtain?
On incorporation, the sole proprietorship firm shall be all ready to function and all the registration documents and licenses shall be handed over to you.
Duration Until Completion
The proprietorship shall come into action within a period of a minimum of 10 days and a maximum of 15 days. *
Simple price – Simple package
How many people are required to incorporate a sole proprietorship?
Only one person is required to start a sole proprietorship business.
Are there any specific businesses that a sole proprietor can do?
No, there is no specific business. A sole proprietor can opt for any business of his choice with proper licenses and registrations.
What are the minimum requirements that I have to meet to be a proprietor?
You just have to be an Indian citizen and a resident. If not, prior Government approval shall be required.
Will my proprietorship firm have a separate legal entity?
No, the proprietorship firm will not have a separate legal entity, it shall be recognised with the sole proprietor himself.
What is the minimum capital requirement to start a sole proprietorship firm?
There is no minimum capital requirement to start such a firm.
Can a sole proprietorship be converted into another form at a later date?
Yes, a sole proprietorship can be later converted into a partnership firm or an LLP as required.
*The timelines mentioned are on an approximate basis and may vary on a real-time basis.
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"As a first line of communication, we will need the following particulars from you to action this service. To facilitate our inital review, please collate your relevant documents into a single file and upload where requested."
₹2,999.00 – ₹9,999.00