What is the meaning of Sole Proprietorship?

Sole proprietorship registration refers to the process of legally establishing a sole proprietorship business. It involves registering the business with the appropriate government authorities to obtain the necessary licenses, permits, and identification numbers. This registration typically includes providing information about the business owner, such as their name, address, and contact details, as well as details about the business, such as its name and nature of operations. Sole proprietorship registration is essential for ensuring the business’s legal recognition and compliance with applicable laws and regulations.

Checklist Items for a Sole Proprietorship Registration

• GST of the Entity
• MSME Certificate of the Entity
• Business Starter Kit

What Are The Documents Required For Registering A Sole Proprietorship?

To start a Sole Proprietorship, the following documents are required

• Address and identity proof
• PAN card, KYC documents and
• Rental agreement or sale deed (in case of Shops & Establishment Act Registration).

What Are The Documents Required For Opening A Current Account?

To open a current account, the following documents are required;

• Proof of the existence of your business
• Shops & Establishments Act Registration
• PAN card
• Address and Identity proof

Proprietorship Vs Limited Liability Partnership (LLP) Vs Company