Business registration
- Sole proprietorship: This is a business entity that is owned by one person. The owner of a sole proprietorship business is called a proprietor. This is the most common type of business entities in India and used by most small businesses. They are simple to start and operate because of minimal regulatory compliance requirements. They are ideal for entrepreneurs who are new to business or starting with small capital, staff and so on. They can be expanded later into partnership firms or companies based on business growth.
A sole proprietorship firm does not have separate legal identity apart from owner. Hence separate PAN number is not issued. Owner’s PAN number shall be used for purposes such as opening bank accounts, income tax returns, GST returns. The proprietor is personally liable for even for liabilities incurred in operating the business.
2. Partnership firm: This is a type of business entity that is owned by two or more persons that share business profits or losses. The advantage in this type is that there can be more persons who can contribute their capital, time, knowledge and experience for the success of firm. However, firm can prosper and survive only to the extent of mutual trust and co-operation between partners. Hence due care must be taken in selection of partners.
Documents required for
Sole proprietorship firm registration
- Copy of PAN card of applicant
- Copy of Aadhar card of applicant
- Passport size photo of applicant
- Bank Details – Copy of cancelled cheque or first page of Pass Book or first page of recent bank statement
- Registered Office Documents- Copy of ELECTRICITY BILL/LANDLINE BILL, WATER BILL etc in the name of applicant
- Registered Office Ownership Document- In case of rented premises RENT AGREEMENT is required otherwise NOC.
- Any other license obtained from other department (PT, IEC, shop & establishment etc)
- Proposed name of the firm
- Description of goods or services offered to
customers.
Documents required for
Partnership firm registration
- PAN card of partners (minimum two partners required)
- Aadhar cards of partners
- Passport size photos of partners
- Registered Office Documents-Copy of ELECTRICITY
BILL/LANDLINE BILL, WATER BILL etc in the name of applicant - Registered Office Ownership Document- In case of rented premises RENT AGREEMENT is required otherwise NOC.
- Any other license obtained from other department (PT, IEC, shop & establishment etc)
- Proposed name of the firm
- Description of goods or services offered to customers.
3. One person company or private limited companies: These are organizations in which owner’s liability to outsiders is limited to the extent of his capital in business. However there is lot of paper work involved in registration and annual compliance.
If you would like to register your business, contact us so that we will prepare necessary documents.