Sole Proprietorship means any business which is carried out by a single person. In simple words a Sole Proprietorship is a business that is owned, managed and controlled by one person. It is the most oldest, universal and elementary way to set up a business. The major difference between a sole proprietorship registration and a Limited Liability Partnership or a Corporation is that the business owner cannot be separated from their business. We can help you establish an identity for in Proprietorship Firm Registration.
Start Sole Proprietorship in India is made more easy by Government of India. Earlier process of Sole Proprietorship registration has been modified. Now the new process is much simpler and with fast tack mode. Business owner need to chose a business name apply for Shop Act Registration. Experts at VALS in have helped number of entrepreneurs legal documentation to start Sole Proprietorship Company Registration. In All major cities of India , Mumbai, Delhi, Bangalore, Pune , Chennai and more. Our services are reliable and quick.
It's now very easy to start up a proprietorship business. In fact you can get a proprietorship firm register within few days. We will help you to Register the name of your business with the Secretary of State or the Department of Corporations in your jurisdiction.
Proprietorship business have little compliance burden as compared to Private Limited Companies,hence owner can more focus on other functional and core areas
You, being only the sole owner is helpful in quick decision-making, controlling and managing the business without following any elongated processes and methodologies as required. The sense of belonging inspires to grow the business further.
A Sole Proprietorship is less expensive as compared to a One Person Company (OPC), Private Limited Company, Public Companies, and also due to the minimum compliance requirements, it is inexpensive even over the long-term.
In Sole Proprietorship business the proprietor has full control over each and every activity of the business. Since the proprietor has all authority with him, it is possible to exercise better control over business.
Only one person is required to start a proprietary business. There is no need to perform and submit an audit annually unless turnover crosses specified limit or like a Private Limited or Limited Liability Partnership the proprietary firm is not required to filling at Ministry of Corporate Affairs.
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Only one person is required to start a Proprietorship and a Proprietorship can have only one owner.
No. There is no legal provision to deposit certain amount in bank accouant.
Proprietorship Registration firms do not have a Certificate of Incorporation or Certificate of Registration as issued in case of company or LLP. Proprietary firm have registration certificate issued by government authority.
No. You will fine single ITR which will show income and loss details of owner plus business
No. Under proprietorship firm concent of issuing of share certificate , debentures is not available.
You will need PAN , address proof , MSME / Shop Act certificate , Business address proof etc. for opening current accounat.
Yes . You can convert business. However the process is bit complicate and time consuming. Hence most of startups prefers to oepn a LLP or Private Limited.
Yes Most of start-ups uses residential address for firm registration.
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