What is the procedure for registration of sole proprietorship?

Documents Required For A Sole Proprietorship

1. Aadhar Card. Aadhar number is now a necessity for applying for any registration in India.
2. PAN Card. You can’t file your income tax return until you get a PAN.
3. Bank Account.
4. Registered Office Proof.
5. Registering as SME.
6. Shop and Establishment Act License.
7. GST Registration.

How many days does it take to register a sole proprietorship?

Timelines for Sole Proprietorship Registration The registration process takes approximately 10 days, subject to departmental approval and reverts from the respective department.

How can I register my small business in Kerala?

You can register a startup company in Kerala through the MCA portal. To do so, you need to obtain a Digital Signature Certificate(DSC), Director Identity Number(DIN), create an account in the MCA portal at mca.gov.in, and then fill the SPICe+ form and submit it to the portal.

What is the way to register a sole proprietorship in India?

By Opening an Account

1. License or certificate from Municipal Officials under Shop and Establishment act.
2. Property Registration document.
3. Rent Agreement along with utility bill.
4. License from registering Authority.
5. License for the concerned individual from central or state government.
6. IEC code.

Why is it easy to start a sole proprietorship?

A sole proprietorship is considered one of the easiest types of businesses to start. Unlike corporations or LLC’s, you don’t have to register with the state. However, you must acquire appropriate permits and licenses to operate legally, and you are personally liable for debts, lawsuits, or taxes your company accrues.

What is the sole proprietorship?

A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between the business and you, the owner.

What are the formalities to start a business in Kerala?

Requirements for Company Registration in Kerala

• Shareholders. To register a Private Company in kerala, there should be a minimum of two shareholders.
• Directors.
• Digital Signature Certificate.
• Company Name.
• Share Capital.
• Registered Office Address of Company.
• Commencement of Business by Company in Kerala.

How to register a one person company in Kerala?

Proprietorship in Kerala is the only type of business entity that can be registered and operated by one person. To register a one person company, a nominee Director is required and for all other types of entities like company or LLP or partnership firm, two or more promoters are required..

Why choose getmyca sole proprietors service in Kerala?

GetmyCA sole proprietors service in Kerala can help you decide if it is the right structure for you. Most businesses in India start individually without other’s participation. An individual carrying out business activities is the sole proprietor and its business entity is said to be a Proprietorship Firm.

How much does it cost to start a business in Kerala?

This will cost you around 25K annual in service charges. If you are planning to do business with clients from abroad, they may ask for registration certificate. In that case, you have to register your company in Kerala according to the Companies Act of India. If you are alone, just go for One Person Company (OPC).

What is the difference between a sole proprietor and a firm?

An individual carrying out business activities is the sole proprietor and its business entity is said to be a Proprietorship Firm. The identity of an individual and the business are not different from each other.