Proprietorship Firm is most common structure opted by merchants and service providers. A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by single owner. A sole proprietor becomes single owner of business and there is no legal distinction between the owner and the business entity. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for startup and operating. The law treats sole proprietor and his business as same and he is held personally liable for all business debts. The Proprietorship Firm is one of the desirable options for small business man due to low cost of registration and minimum compliances. There are registrations required under Shop and Establishment Act if you are a goods supplier or with registration through GSTIN if you are a service provider, and get advice from team of VA Corp Advisory for other registrations required under various authorities to operate as a proprietor. Proprietorship’s do not offer the promoter/proprietor a host of benefits such as limited liability, corporate status, separate legal entity, independent existence, transferability, perpetual existence – which may be desirable features for any business man.
Documents Requirements:
- ID and Address Proof of Proprietor like Pan Card/Passport/Voter ID/Aadhar Card/Driving License Copy of the Proprietor.
- One Business Place Address proof :-
- if Property on Rented :- Need Rent Agreement and NOC from Landlord.
- if Property is own :- Need Electricity Bills or any other Address Proof.
- Note : Business place and home place can be same of the Partners.
Package Pricing for Proprietorship Firm@ 5500/- INR
- Drafting of the Partnership Deed by Legal Experts
- Apply for the Pan and Tan on the Firm Name.
Note :- Printing of the Deed on Stamp Paper and Notarization Services not included in the above package.