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Proprietorship Registration

Proprietorship Registration

A sole proprietorship is the oldest and the most common form of business. It is a one-man organization where a single individual owns, manages and controls the business.

Advantage

1- Easy to Start

2- Maximum Tax Saving

3- Totally Confidential

4- Quick decisions and flexibility of operations

Disadvantage

1- Limited Resources

2- No Legal Existence Separate from its owner

3- Unlimited liability

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Registration

Since the proprietorship has no legal existence separate from its owner hence there is no registration or approval is required to start a proprietorship business.

However the owner is required to obtain a license specific to the line of business :-

Shops and Establishment Registration

GST Registration

Import and Export Code

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