Sole Proprietorship Registration

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A sole proprietorship is one of the three primary entities for forming a business (the other being partnership and private limited companies). And a sole proprietorship is the simplest and most common legal structure someone can choose. It’s an unincorporated business owned and run by one individual in which there is no distinction between the business and the owner. A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship. It is ideal for small trader and merchants. Generally, local trader doing small scale business opt for sole proprietor firm like grocery shops, medical shops, dairy shops, bakery shops, general provision store, garments shop etc. And a sole proprietorship is considered one of the easiest types of businesses to start in India.

A sole proprietorship is not considered a "separate legal entity" since there is no distinction between the business and the owner (proprietor). In sole proprietorship the owner holds unlimited liability for the business, including full responsibility for all of the debts and/or losses that result from business operations. In turn, the owner is entitled to all of the profits generated by doing business. The business and the owner are considered to be one and the same. Proprietorships are simple to start and have minimal regulatory compliance requirements for operating. This entity is most popular forms of business structure for micro and small businesses operating in the unorganized sectors with few clients.

PAN Card

Self attested PAN Card issued by I.T. Department

Aadhar Card

Self attested Aadhar Card issued by UIDAI


Passport-size colour photographs

Address Proof

Electricity bill or other utility bill

Rent Agreement Rent agreement or NOC from premises owner
Cancel Cheque Cancel cheque of the applicant

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Key Registrations

Registration may or may not be required, depending on what business you are planning to establish. However, to open a current account, banks typically require a Trade License or GST Registration or MSME Registration or Import-Export Code or Shop and Establishment License. Sole proprietorship firms are one of the most commonly seen business structure form in India. Each proprietorship differs in terms of the business activities (functions) and mode of business operation. A sole proprietorship firm registration is single person firm registration, and is advised to obtain a few registrations to make his business function smoothly:

Trade License |GST Registration | P.T. Registration|MSME Registration | Import Export Code

Documents required

PAN Card

Self attested PAN Card issued by I.T. Department

Aadhar Card

Self attested Aadhar Card issued by UIDAI


Passport-size colour photographs

Address Proof

Electricity bill or other utility bill

Rent Agreement

Rent agreement or NOC from premises owner

Cancel Cheque

Cancel cheque of the applicant

Frequently Asked Questions

A sole proprietor is an individual who owns an unincorporated business by him or herself and managed by a single person. Most of the businesses in India are unregistered and many are being operated as a sole proprietorship firm business.
Only one person is required to start a proprietorship as it can have only one promoter. You can start a sole proprietorship firm if you are an Indian citizen.
To open a current account, you need proof of the existence of your business. Most banks will ask for a Shops & Establishments Act Registration or GST Registration. In addition, you will need a PAN Card, address proof, identity proofs and color passport size photo of sole proprietor.
A sole proprietorship business does not take more than 05 Working Days to open-up and get running. This simplicity makes it popular among the small traders and merchants.
A sole proprietorship is the easiest and least expensive type of business to start. It provides the business owner with the freedom and autonomy of complete oversight and control of the business. Under the law, the business and the person who owns it are considered to be one entity. As a result, the sole proprietor owns all the assets and is entitled to all the
As the owner of a sole proprietorship, you have unlimited liability. This means that you will be held personally responsible for any debts, liabilities, or obligations that your business may incur.
Yes, you are personally liable for any of your sole proprietorship's debts or legal judgments against your business. This means that in order to satisfy debts owed by your business, debt collectors can come after your personal assets -- homes, cars, etc. For this reason alone, you should be extremely cautious about setting up a sole proprietorship.
Unlike corporations, sole proprietorships are not treated separately by the Indian law. This means that any profit derived from your sole proprietorship is treated as your personal income and is accounted for on your individual tax return. Any such income is taxed to you in the year it was received.
Not necessarily, but every business is unique with characteristics or features and there may be circumstances where a partnership, LLP, or some other kind of business structure is a better fit for your business plan. It is always advisable to get professional advice before starting an any business.
 Less Registration Costing  Few legal compliances  Full control over business  Easy management  Ideal for small business

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