Get Sole Proprietorship Registration in 2 Simple Steps! Starting From INR 2899/-

A Sole Proprietorship is owned, managed and operated by just 1 person.

Get Sole Proprietorship Registration in 2 Simple Steps!
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Sole Proprietorship

A Sole Proprietorship is the simplest type of business structure that is managed, controlled and owned by one person. Sole proprietorship is generally opted by micro and small-sized businesses with less investment. A Sole Proprietorship has no separate legal identity and has the same legal entity as the proprietor. The ownership of a sole proprietorship cannot be transferred to another individual and the business comes to an end with the death or exit of the owner.

Sole proprietorship registration is mostly opted by unorganised small businesses, working for a limited period of time, or at a very small scale. However, the legal compliances and formalities to register a sole proprietorship are the easiest as compared to other forms of businesses and it can be incorporated with few simple formalities.

A Sole Proprietorship is the simplest type of business structure that is managed, controlled and owned by one person. Sole proprietorship is generally opted by micro and small-sized businesses with less investment. A Sole Proprietorship has no separate legal identity and has the same legal entity as the proprietor. The ownership of a sole proprietorship cannot be transferred to another individual and the business comes to an end with the death or exit of the owner. Sole proprietorship registration is mostly opted by unorganised small businesses, working for a limited period of time, or at a ve
y small scale. However, the legal compliances and formalities to register a sole proprietorship are the easiest as compared to other forms of businesses and it can be incorporated with few simple for

A Sole Proprietorship is the simplest type of business structure that is managed, controlled and owned by one person. Sole proprietorship is generally opted by micro and small-sized businesses with less investment. A Sole Proprietorship has no separate legal identity and has the same legal entity as the proprietor. The ownership of a sole proprietorship cannot be transferred to another individual and the business comes to an end with the death or exit of the owner.

Sole proprietorship registration is mostly opted by unorganised small businesses, working for a limited period of time, or at a very small scale. However, the legal compliances and formalities to register a sole proprietorship are the easiest as compared to other forms of businesses and it can be incorporated with few simple formalities.

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Cost effective & Transparent Pricing

Basic

Rs. 2899/- inclusive of all fees

Proprietorship registration with TAN registration and MSME under Udyog Aadhaar. Inclusive of government fee and GST.

Standard

Rs. 4899/- inclusive of all fees

Proprietorship registration with TAN registration, MSME under Udyog Aadhaar and GST registration. Inclusive of government fee and GST.

Advanced

Rs. 10899/- inclusive of all fees

Proprietorship registration with TAN registration, MSME under Udyog Aadhaar, GST registration and Trademark filing. Inclusive of government fee and GST.

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Talk to our Legistify's Inhouse Legal Expert for assistance On 011-331-38-123

Choose the Right Business Type

Compare the features of different business structures to choose the best for your business!

Key Features Private Limited Company Limited Liability Partnership One Person Company Partnership Firm Sole Proprietorship
+ Separate Identity
  The company has a separate identity from its shareholders and can hold property in its own name. The LLP has a separate legal identity from the partners and can sue or be sued in court. The OPC has a separate identity from its director. A Partnership ceases to exit upon the death of one partner. The Proprietorship and the owner are one identity.
+ Limited Liability
  The shareholders and directors have limited liability and are liable only to the extent of their share. The partners are only liable to the extent of their share in the LLP and cannot be held liable personally. The director has limited liability and cannot be held liable beyond his/her share. The partners have unlimited liability and can be personally held liable for the losses of firm. The proprietor has unlimited liability and can be personally held liable for the firm's losses.
+ Transfer of Ownership
  Ownership can be transferred through the transfer of shares. The ownership is transferrable in an LLP. The ownership can be transferred from the director easily. The ownership cannot be transferred from one partner to any other person. The ownership cannot be transferred as the firm and owner are one identity.
+ Number of Members 2-200 2- Unlimited 1 2-20 1
  There must be a minimum of 2 directors and 2 shareholders. The maximum no. of directors is 15 and shareholders is 200. There must be a minimum of 2 partners. There is no limit to the number of members in an LLP. There can only be 1 director and one nominee director in an OPC. There must be a minimum of 2 partners and the maximum number is 20. There can only be 1 proprietor in a sole proprietorship firm.
+ Perpetual Existence
  Company exists even after the death of any member. The LLP keeps on existing even if one partner leaves. The OPC has an unlimited existence and isn;t affected by the director's existence. The partnership firm ceases to exist after the exit or death of one partner. The proprietorship comes to an end with the exit or death of the owner.
+ Tax Benefits Some Many Some Many Few
  Tax rates are applicable in accordance with the existing tax rates. Share of profits are tax free in an LLP. The existing tax rates are applicable to OPC. Share of profits are tax free. Tax rates are applicable in accordance with the personal income of owner.
+ Foreign Members
  Foreign members are allowed after obtaining approval of the Government. The approval of Government is required to add foreign members to the LLP. No foreign members are allowed. No foreigner/ NRI is allowed. No foreigner can start a sole proprietorship.
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Frequently Asked Questions

Who can start sole proprietorship?
Any Indian citizen with a current bank account number in the name of his business can start sole proprietorship.
Can a Foreigner or NRI register a Sole Proprietorship in India?
No, a sole proprietorship cannot be started by an NRI or foreign national.
What amount of capital is required to start Proprietorship Firm?
A Proprietorship Firm can be started with any amount of capital. There is no minimum requirement of capital for sole proprietorship registration.
Can a Sole Proprietorship be converted into a PLC or LLP?
Yes, a sole proprietorship can be converted into a Private Limited Company or Limited Liability Partnership.
Is Certificate of Incorporation or Registration required for Sole Proprietorship?
A sole proprietorship firm does not require a Certificate of Incorporation or Certificate of Registration.
How to register the name of a Proprietorship?
A sole proprietorship can adopt any name that does not infringe upon existing and registered trademarks. There is no requirement for name approval or registry for sole proprietorship.
Is GST Registration required for Sole Proprietorship?
A sole proprietorship will have to get its GST registration done if it falls under any of the following criteria: 1. If the business has an aggregate turnover of more than Rs. 20 lakhs. For dealers in North-Eastern states of India, GST is compulsory if the business has an aggregate turnover of more than Rs. 10 lakhs. 2. If the business is selling on any online platform. 3. If the business is engaged in inter-state supply of products or services.
Can a Sole Proprietorship raise funds from investors?
A sole proprietorship is owned, managed and controlled by one person. Hence, a proprietorship cannot issue shares or raise funds from investors.
Do I need a Bank Account to operate a Sole Proprietorship?
Yes, a current account is required to operate a sole proprietorship in India.
Can there be partners in a Sole Proprietorship?
A Sole Proprietorship is managed and owned by one individual only. There cannot be any partners, shareholders or investors.

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