Sole Proprietorship is the form of smallest business registration for individuals with very limited and less paperwork. While registering your firm name under proprietorship, you don’t need any fixed suffix like LLP or Pvt Ltd or Ltd, you can choose the name you want like XYZ Hotels, XYZ Traders, XYZ Toys etc. Means no need of uniqueness in a name too. If XYZ Enterprises already registered then even you can choose XYZ Enterprises as the name of your firm too. There is no restriction, but while choosing a trademark if required under proprietorship then trademark should be unique you cannot copy somebody’s trademark name or logo. Under Proprietorship, there is no formal registration required with the Ministry of Corporate Affairs (MCA) of India. Get Sole Proprietorship Registration in Mumbai through Envizi.
While registering a sole proprietorship no formal registration required from MCA, only getting GSTIN registration and current account in firms name is enough but some states like Maharashtra its required to get shop act license too if business premises is under municipal corporation limits or NOC from Gram Panchayat if business premises is under Gram Panchayat limits.
Proprietorship can be started by 1 person means only one member required for registration of sole proprietorship. The proprietorship is not a separate entity and proprietor is liable for everything, including his personal asset too. In Sole Proprietorship if the proprietor does not wish to continue then proprietorship dissolves automatically means no transfer of asset liabilities to the next generation or Nominee. Under proprietorship, there are no capital guidelines by the government, a proprietor can start a proprietorship with any capital but after a sudden growth of a company, it becomes riskier because of unlimited liability so it is better to switch to the private limited company or any form of limited company and dissolve the proprietorship. In proprietorship there are lower tax reforms, no company audit required; proprietor needs to file GST and Income Tax only so very easy to run the business.
Required Documents
Pan card of director
Passport size photograph of director
Address proof of the director
Identity proof of the director
Rent agreement and NOC
Bank statement or canceled cheque
Electricity bill of the property where you want to register a firm
Minimum Requirements
Pancard of Sole Proprietor
ID Proof and Address Proof
Rent agreement, NOC or Electricity Bill
Bank Statement or Cancelled Cheque
Passport Size Photo of Director
What You Get
Shop Licence
Establishment Licence
Steps for Sole Proprietorship Registration in Mumbai
Provide Basic Documents
Fill a Form With Basic Information
Envizi will prepare Legal Documents
System will Automatically Choose Certificate
Get Confirmation Via Email
Get Certificate of Incorporation
Advantages of Sole Proprietorship
Easier to Set Up
Sole Claim on Business Profit
Tax Benefit
Benefits of Inherited Goodwill
While registering a sole proprietorship no formal registration required from MCA, only getting GSTIN registration and current account in firms name is enough but some states like Maharashtra its required to get shop act license too if business premises is under municipal corporation limits or NOC from Gram Panchayat if business premises is under Gram Panchayat limits.
Proprietorship can be started by 1 person means only one member required for registration of sole proprietorship. The proprietorship is not a separate entity and proprietor is liable for everything, including his personal asset too. In Sole Proprietorship if the proprietor does not wish to continue then proprietorship dissolves automatically means no transfer of asset liabilities to the next generation or Nominee. Under proprietorship, there are no capital guidelines by the government, a proprietor can start a proprietorship with any capital but after a sudden growth of a company, it becomes riskier because of unlimited liability so it is better to switch to the private limited company or any form of limited company and dissolve the proprietorship. In proprietorship there are lower tax reforms, no company audit required; proprietor needs to file GST and Income Tax only so very easy to run the business.
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| Envizigroup is the market leader in Sole Proprietorship Registration in Mumbai,offering a variety of services Proprietorship Registration in Mumbai. |
Required Documents
Pan card of director
Passport size photograph of director
Address proof of the director
Identity proof of the director
Rent agreement and NOC
Bank statement or canceled cheque
Electricity bill of the property where you want to register a firm
Minimum Requirements
Pancard of Sole Proprietor
ID Proof and Address Proof
Rent agreement, NOC or Electricity Bill
Bank Statement or Cancelled Cheque
Passport Size Photo of Director
What You Get
Shop Licence
Establishment Licence
Steps for Sole Proprietorship Registration in Mumbai
Provide Basic Documents
Fill a Form With Basic Information
Envizi will prepare Legal Documents
System will Automatically Choose Certificate
Get Confirmation Via Email
Get Certificate of Incorporation
Advantages of Sole Proprietorship
Easier to Set Up
Sole Claim on Business Profit
Tax Benefit
Benefits of Inherited Goodwill
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