Start Proprietorship Firm
As two registrations in the name of the proprietorship firm are required as proof of entity and the address, we have made a combo package to start the proprietorship firm.
Package Inclusion:
- Free Consultation
- 100% Online Process
- Name Search Assistance
- Drafting of MOA & AOA
- End to end MCA Filing
- All India Services
Overview of Starting a Sole Proprietorship Firm in India
Professional Fee | Starting at ₹4,999/- (Best Fee Guaranteed by zeroBrokagetax) |
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Government Fee | The government fee for establishing a partnership firm in India consists of two components. First, there is the Stamp Duty on the partnership deed or agreement, and second, there is a fee charged by the Registrar of Firms. These costs vary from state to state. |
Timeline | The firm can be functional in 1-2 working days. |
Elligibility |
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Timeline | Varies from state to state and on the proposed capital |
Stepwise Process | ₹ 3499/- (Best Fee Guaranteed by zeroBrokagetax) |
Documents Required | ₹ 3499/- (Best Fee Guaranteed by zeroBrokagetax) |
Establish a Proprietorship Firm in India.
A sole proprietorship is a single-owner business and is the simplest in which the sole owner infuses all its capital and, therefore, is entitled to all of its profits and losses. The proprietorship firm and the proprietor are one and the same thing. There is no distinction between ownership and management. There is a requirement for incorporation or registration of the sole proprietorship as such. However, certain common registrations such as GST, MSME, etc, are generally obtained for the firm.
Key Features of Sole Proprietorship
- Startups Seeking Investors
- With Multiple Co-Founders
- Lowest Tax Rates
- Ability to offer ESOP
- IRS Tax Problems
- IRS Tax Problems
Eligibility to Start Sole Proprietorship
While sole proprietorship is the simplest form of business and is less regulated, it is only available for Indian Citizens and Natural Persons of eighteen years of age. Foreigners can not establish sole proprietorships. However, there is an exception in the case of NRI and OCI, they are allowed to establish proprietorship.
- Only Indian citizens are eligible
- Only Indian citizens are eligible
- Only Indian citizens are eligible
- Ability to offer ESOP
- IRS Tax Problems
- IRS Tax Problems
List of Documents For Company Registration
Two Colour Photographs of Promoters/Individuals/ Company/ Director
PAN Card of each Shareholders and directors
Identity Proof (Voter ID / Driving License/ Passport)
Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
Proof of Registered Office
Utility Bill as proof must be Latest
Stepwise Process for Starting a Sole Proprietorship
The Proprietorship Registration process in India is the easiest and simplest among all business structures. There is no requirement for a formal incorporation. You can start your business immediately after you have fulfilled all the minimum requirements mentioned above. However, you must take specific mandatory registrations to establish your firm’s legal existence after beginning business operations. Navigate the steps below to complete the Sole Proprietorship Registration process in India.
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Documentation for starting proprietorship.
Making a digital signature (DSC) for directors/shareholders is the first step in Pvt Limited Company Registration. We are the Registration Authority (RA) of Certifying Authorities such as Emudhra, SignX, and others appointed by the Controller of Certifying Authorities of the Government of India. We help DSC applicants collect documents and submit DSC applications to obtain DSC.
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Select a Unique Name for the Business
Making a digital signature (DSC) for directors/shareholders is the first step in Pvt Limited Company Registration. We are the Registration Authority (RA) of Certifying Authorities such as Emudhra, SignX, and others appointed by the Controller of Certifying Authorities of the Government of India. We help DSC applicants collect documents and submit DSC applications to obtain DSC.
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Take MSME / Udyam Registration
Making a digital signature (DSC) for directors/shareholders is the first step in Pvt Limited Company Registration. We are the Registration Authority (RA) of Certifying Authorities such as Emudhra, SignX, and others appointed by the Controller of Certifying Authorities of the Government of India. We help DSC applicants collect documents and submit DSC applications to obtain DSC.
How to open a Bank Account for the Sole Proprietorship firm
To open a bank account for the sole proprietorship firm, you must contact any national bank. They would insist on two documents with the name of the sole proprietorship firm and address. Where one document is taken as proof of entity, the other is the address proof. These requirements are part of the KYC requirements prescribed by the RBI.
The government fees include the registration fee charged by the Registrar of Companies for Pvt Limited company registration, stamp duty levied by the concerned state government (which may differ from state to state), and the cost of making the DSC. By partnering with zeroBrokagetax, you can ensure a smooth process and minimise associated costs.
- MSME Udyam Registration Certificate
- GST Registration Certificate
- Shops & Establishment Registration
- ITR of last FY, wherein the business name is mentioned.
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Sole Proprietorship vs OPC
Both Sole Proprietorships and One-Person Companies are single-owner business structures. In the table below, we have comprehensively compared proprietorship firm registration with one-person company registration. This will help you make an informed decision while choosing between the two single-owner business entities.
Partnership Firm | Private Limited Company |
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Pros
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Pros
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Cons
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Cons
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Why us ?
Both Sole Proprietorships and One-Person Companies are single-owner business structures. In the table below, we have comprehensively compared proprietorship firm registration with one-person company registration. This will help you make an informed decision while choosing between the two single-owner business entities.
Frequently Asked Questions
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Basic
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Standard
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Premium
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller
Premium
- IRS Tax Problems
- Business Tax Consulting
- Tax Preparation and Planning
- Tax Payroll Services
- Bookkeeping and Virtual CFO
- Accounting Virtual Controller