Sole Proprietorship

Rs. 2499. All Inclusive (may vary from city to city)

A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is one of the most common form of business in India, utilized by small businesses operating in the unorganized sectors. Proprietorship is recognized by other registrations, such as a service or sales tax registration. It has too many shortcomings, such as unlimited liability of proprietor, and it does not have continuous existence. For these reasons it is considered by small merchants and traders as a business structure.

Our Package Includes

DIN for 2 Directors(separate if more than two), DSC for 2 Directors (separate if more than two), Name Search & Approval, MOA/AOA, ROC Fees Payments, Company Pan Card, GST Registration

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Why Sole Proprietorship ?

Easy to Start up

A Sole Proprietorship firm is easy to form as no cumbersome legal formalities are involved. The process is uncomplicated. PAN card and identity and address proofs are enough to get them done.

No Annual Filing required

A Sole Proprietorship firm is not required to file its annual accounts with the Registrar unlike a Limited Liability Partnership or Company.

Relatively Inexpensive

A Sole Proprietorship is cheaper to start than others and even over the long-term, due to minimal compliance requirement, need not to hire an auditor, as an example. This is why, despite its severe shortcoming (unlimited liability), home businesses may opt for it.

Minimal Compliances

Sole Proprietorships are only recognized via their government registrations, so the extent of their compliance is limited to the annual filing of their service and professional taxes.

Minimum requirement for Registration

1. Minimum 7 Shareholders
2. Minimum 3 Directors
3. Minimum Share Capital
4. DIN for all Directors
5. Atleast one Director should be an Indian Resident

Documents Required For Registration

1. PAN Card or Passport (Foreign Nationals & NRIs)
2. Aadhar/Voter’s ID/Passport/Driver’s License
3. Passport Size Photograph
4. Latest Bank Statement/Telephone/Mobile/Electricity /Gas/Water Bill
5. Copy of Rent agreement (If rented property)
6. Copy of Property papers (If owned property)
7. Landlord NOC (Format will be provided)

*Your registered office need not be a commercial space, it can be your residence, too

Registration Process

* subject to receipt of all documents/information and government approval

1 Working Day

DIGITAL SIGNATURE CERTIFICATE (DSC)

DSC is an electronic online signature issued by licensed certifying authorities. Proposed directors of the company are required to apply for the digital signature (DSC) which is necessary for digitally signing the electronic incorporation documents.

1 Working Days

DIRECTOR IDENTIFICATION NUMBER (DIN)

DIN is a unique eight-digit identification number which is a mandatory requirement for proposed director of the company to maintain the director's information in a database. MCA allots a DIN to the director of the company with a lifetime validity without which one cannot be a director.

3-5 working days

NAME APPROVAL

After DIN and DSC of the directors, a list of minimum one or maximum six proposed names of the company in preferential order will be submitted to MCA for approval. Prior search for your name availability will be done by us. We get your company name approved subject to the availability and naming guidelines.

6-8 working days

INCORPORATION DOCUMENTS

After name approval, we draft a Memorandum of association and Articles of association for the company. All the incorporation documents need to be submitted with the prescribed E-form along with the AOA, MOA and subscription statement. Once all the documents are duly verified and approved by the ministry, the certificate of incorporation is generated. Then, we will apply for PAN and TAN of your company.